Home buyers and sellers have lost more than £10million to foreign crime gangs hacking into their emails over the last year.

New figures released by the National Fraud Intelligence Bureau, which operates the Action Fraud reporting hotline, recorded 91 victims of conveyancing fraud up to October.

On average, the criminals carry out two frauds a week, with each fraud worth more than £112,000.

The problem appears to be escalating and police suspect is being headed by organised gangs from abroad.

Steve Proffitt, deputy head of Action Fraud, told The Telegraph: 'We are getting more and more instances of this.

'The outcome for the fraudster is tremendous. They can earn £1m on the sale of a house in the south east.'

Newlyweds Sarah and Ritchie Tough lost their £45,000 deposit when their emails were targeted by fraudsters

Earlier this month, MailOnline reported how newlyweds Sarah and Ritchie Tough lost their £45,000 deposit from such a scam and left their dream to become first-time buyers in tatters.

Sarah, 28, who hoped to buy a home in Bishop’s Stortford, Hertfordshire, said: ‘It makes me sick to my stomach that someone could even think of doing something like this. It was our money for our future, we had been saving for ages — and now it is gone.’

Other victims have included Paul and Ann Lupton, who suffered a £50,000 loss when emails between them and their lawyers were hacked following the sale of their London flat for £340,000.

The cruel online con starts with a computer hacker using malware to monitor emails sent between a solicitor and a homebuyer.

They look for anywhere cash transactions are discussed. In some cases, solicitors’ emails are hacked. In others, the buyer is targeted.

The fraudster watches for when a bank transfer that might be about to be made — and pounces.

Growing concern: Overseas gangs are thought to be responsible for targeting 91 home buyers and sellers over the last year, with each conveyancing fraud netting them £112,000

They send the homebuyer an email which appears to be from the solicitor’s address, typically telling them that the details of the law firm’s bank account has changed.

The unsuspecting homebuyer sends their cash to the new account, where it is grabbed by the fraudsters.

Often the money will then be sent to numerous accounts around the world, making the money virtually impossible to trace.

Action Fraud advises home buyers and sellers against using publicly available wi-fi systems, which may be vulnerable to hacking.

The Solicitors Regulation Authority watchdog similarly issued a warning to law firms.

Chief executive Paul Philip, said: ‘This is an issue that is not going away. Law firm client accounts are being targeted and solicitors and their clients are suffering disruption and potential loss.

'It is essential that firms understand the risks and take precautions to avoid falling victim to these attacks.’

Fraudsters are targeting home buyers and sellers by hacking emails to property solicitors (file picture)



