Imagine spending 15 years scrimping, saving, and sacrificing for your family’s dream home—only to see every cent vanish in the blink of an eye. That’s precisely what happened to one Australian couple whose $250,000 house deposit was stolen in a sophisticated email scam.
Their story is a cautionary tale for all Australians, especially those of us who remember when a handshake and a signature were all you needed to seal a deal. But there’s a twist in this tale: after weeks of heartbreak and uncertainty, the Robinsons have received a lifeline.
ANZ has agreed to fully reimburse the stolen funds, giving Sarah and Laine Robinson, a Gold Coast couple, a second chance at their dream.
Let’s unpack what happened, how the scam worked, and—most importantly—what you can do to protect yourself and your hard-earned savings.
The Robinsons were on the cusp of moving into their dream rural property in Mount Nathan. They’d packed up their lives with their three children and were ready for a fresh start.
But as settlement day approached, things took a sinister turn. The conveyancing firm they’d been working with suddenly went silent. Unbeknownst to the Robinsons, cybercriminals had intercepted their email chain and begun impersonating the firm.
The fraudulent emails were almost indistinguishable from the real thing. The only clue? The sender’s email address was missing a simple ‘.au’ at the end—a detail easy to overlook in the flurry of settlement paperwork and last-minute arrangements.
Sarah unknowingly corresponded with the scammers for over a week, following their instructions to the letter. When the deposit was transferred, the Robinsons visited their local ANZ branch.
Shockingly, the teller failed to notice that the account name didn’t match the details—a critical oversight that allowed the scam to succeed.
It wasn’t until the day before settlement, when the real conveyancer finally got in touch, that the Robinsons realised something was wrong.
The first payment of $60,000 went through to the legitimate firm, but the second, much larger payment of $252,000 disappeared into the ether.
A glimmer of hope: ANZ steps up
Initially, ANZ could recover about $80,000, but the remaining $170,000 seemed lost forever. The Australian Financial Complaints Authority even cleared the bank of wrongdoing, a decision the Robinsons found hard to swallow.
But in a rare and heartening move, ANZ reimbursed the full amount, acknowledging that their staff had failed to perform adequate checks at the branch.
‘We honestly can’t believe it,’ Sarah said. ‘We’ve had a phone call from ANZ, and they agreed to reimburse the money.’
The family is now back on the property market, their faith in the system somewhat restored, but their trust forever shaken.
The rise of email scams: Why we’re all at risk
The Robinsons’ ordeal is far from unique. Email scams—especially those targeting property transactions—are rising in Australia.
These crimes, known as ‘business email compromise’ or ‘invoice redirection’ scams, are becoming increasingly sophisticated.
Scammers hack into legitimate email accounts or create near-identical copies, then intercept or alter payment instructions at the last minute.
According to Scamwatch, Australians lost over $227 million to business email compromise scams in 2023 alone, with property buyers and retirees among the most frequent victims. The sums involved are often life-changing, and the emotional toll can be devastating.
So, how can you avoid falling victim to a similar scam? Here are some essential tips:
- Double-check email addresses: Always scrutinise the sender’s email address, especially regarding payment instructions. Look for subtle changes—missing letters, extra numbers, or a missing ‘.au’ at the end.
- Verify payment details by phone: Before transferring large sums, call your conveyancer, solicitor, or real estate agent using a trusted phone number (not one provided in the email) to confirm the account details.
- Be wary of last-minute changes: Scammers often send urgent emails requesting a change in bank details. Treat any such request as a red flag and verify independently.
- Use secure communication channels: Use secure portals or encrypted messaging rather than regular email for sensitive information.
- Educate yourself and your family: Talk to your loved ones about the risks, especially if they’re not tech-savvy. The more people know, the harder it is for scammers to succeed.
- Ask your bank about extra protections: Some banks offer additional verification steps for large transfers. Don’t be afraid to ask for these safeguards.
What are banks and authorities doing?
In a statement, ANZ said, ‘We invest in ongoing education, detection systems, and recovery efforts to support our customers. The extent and pace of change in the scams landscape has evolved significantly, as perpetrators become increasingly sophisticated.’
‘We will continue to adapt our protective measures and encourage customers to stay alert, stay informed, and act swiftly on anything suspicious.’
However, as the Robinsons’ case shows, even the best systems can fail if staff aren’t vigilant. The pace and sophistication of scams are increasing, and banks are urging customers to stay alert and act swiftly if anything seems amiss.
The Robinsons’ message to other scam victims is simple: don’t give up. ‘If you can see you’ve done the right thing, keep fighting. You can have a positive outcome—we are living proof that can happen,’ they said.
Have you or someone you know been targeted by a scam? What steps do you take to keep your money safe? Share your experiences and tips in the comments below.
Also read: Two-letter error costs an Australian couple their $170,000 house deposit
