The loss, incurred after fraudsters intercepted emails about a mortgage redemption and changed the bank account details, will be covered by the unnamed firm’s cybercrime insurance policy.

The Law Society has now issued a cybersecurity alert urging solicitors not to rely upon bank details received in an email.

A cyber alert on the Society website today advises: “Members of the profession are advised that as far as possible, they should not rely upon bank account details received in an email.

“However, in cases where this is done, it is imperative that the individual transferring the money is the person verifying the account details. The profession is reminded that both external and internal emails have been intercepted and the details amended.

“It is recommended that, when contacting the sender, obtain his or her phone number through the Law Directory, phone book etc. Do not use the phone number contained within the email.”

If a solicitor identifies a fraudulent email, they are advised by the Law Society to change email passwords immediately; contact IT providers for further advice; and ensure their system is checked for and cleaned of any malware.