97% Of Aussies Miss Property Scam Warning Signs

In a wake-up call for property buyers and sellers, new research from PEXA, the world-leading property exchange, reveals that 97% of Australians who’ve bought a property in the last year or intend to buy in the next, failed to spot dangerous scam markers in property transaction emails, despite most believing they could identify fraud attempts.

The survey results coincide with today’s release of PEXA’s latest White Paper, Safeguarding your Property Settlement: Awareness and Prevention of Scams, written by PEXA’s Chief Information Security Officer Graham Fairley. In it, Mr Fairley details how settlement scams have become one of the most financially devastating forms of cyber-crime in Australia – and the steps home buyers and sellers can take to mitigate the risk.

“Property transactions involve large sums, short time frames and routine reliance on email – the exact conditions that cybercriminals exploit,” said Mr Fairley.

“Criminals know they don’t need to compromise systems – they just need to compromise trust. And these scams, typically executed via business email compromise, are using increasingly sophisticated measures to trick victims into sending large sums to the wrong bank by impersonating trusted parties in a transaction such as real estate agents, lawyers, or conveyancers.”

Scam measures can include subtle changes to an email address or a wayward punctuation mark, or emails demanding urgent payment with revised bank details and threatening forfeiture unless immediate deadlines are met. Buyers are often busy, stressed and focused on the transaction outcome, so such changes can be easily overlooked.

Unlike a fraudulent credit card transaction, money lost to scammers in a property transaction can be much more difficult to recoup, Mr Fairley added. 

The good news is increased awareness and smart use of technology such as secure settlement tools can help people reduce the risk of falling victim to scammers.

Original Grand Designs Australia host, renowned architect Peter Maddison and PEXA’s Property Scam Awareness Ambassador, has joined the fight against sophisticated property settlement scams.

“As someone who’s spent decades in property and architecture, I find these results deeply concerning,” said Maddison. “Property transactions are often the biggest financial decisions in people’s lives. When scammers strike during these critical moments, the consequences can be devastating. I’m partnering with PEXA to help Australians understand how they can protect their property dreams from these sophisticated scams.”

Mr Maddison urged home buyers and sellers to stay vigilant and always follow the security guidance provided, such as using secure channels, double-checking any unsolicited or urgent email instructions for payment and always verifying any payment details.

Red flags for buyers and sellers to look out for include:

•  Last minute change of bank details
• Urgency of payment demand
• Altered email addresses
• Unsolicited/unverified requests
• Confirmation of payee warnings

It is recommended that all parties involved in a property transaction follow these guidelines:

•  Always use secure communication platforms (PEXA Key is a free, secure application specifically designed to safely exchange bank account information for settlements)
• Never trust unsolicited email instructions for payments
• Pay attention to Confirmation of Payee (CoP) warnings. Never ignore these warnings
• Always double-check sender details and be alert to red flags

About the research

The PEXA Research on Property Settlement Scam Awareness was conducted by Nature on behalf of PEXA. It was in market in July 2025. There were 1,030 respondents nationally, comprising 474 respondents that bought a property in the last year and 556 respondents intending to buy property in the next 12 months.

Clare Gill, GM Corporate Affairs,
T: +61 0467 284 154, E: CorporateAffairs@pexa.com.au

Ange Lewis, PR Manager,
T +61 0410 276 909, E: CorporateAffairs@pexa.com.au