diff --git a/qa/pull-tester/rpc-tests.py b/qa/pull-tester/rpc-tests.py
index 373477a10b2..273adac0b36 100755
--- a/qa/pull-tester/rpc-tests.py
+++ b/qa/pull-tester/rpc-tests.py
@@ -166,6 +166,7 @@
     'p2p-leaktests.py',
     'replace-by-fee.py',
     'p2p-policy.py',
+    'wallet_create_tx.py',
 ]
 if ENABLE_ZMQ:
     testScripts.append('zmq_test.py')
diff --git a/qa/rpc-tests/wallet_create_tx.py b/qa/rpc-tests/wallet_create_tx.py
new file mode 100755
index 00000000000..66f43c821dd
--- /dev/null
+++ b/qa/rpc-tests/wallet_create_tx.py
@@ -0,0 +1,32 @@
+#!/usr/bin/env python3
+# Copyright (c) 2018 The Bitcoin Core developers
+# Distributed under the MIT software license, see the accompanying
+# file COPYING or http://www.opensource.org/licenses/mit-license.php.
+
+from test_framework.test_framework import BitcoinTestFramework
+from test_framework.util import (
+    assert_equal,
+)
+
+
+class CreateTxWalletTest(BitcoinTestFramework):
+    def set_test_params(self):
+        self.setup_clean_chain = False
+        self.num_nodes = 1
+
+    def run_test(self):
+        # Check that we have some (old) blocks and that anti-fee-sniping is disabled
+        assert_equal(self.nodes[0].getblockchaininfo()['blocks'], 120)
+        txid = self.nodes[0].sendtoaddress(self.nodes[0].getnewaddress(), 1)
+        tx = self.nodes[0].decoderawtransaction(self.nodes[0].gettransaction(txid)['hex'])
+        assert_equal(tx['locktime'], 0)
+
+        # Check that anti-fee-sniping is enabled when we mine a recent block
+        self.nodes[0].generate(1)
+        txid = self.nodes[0].sendtoaddress(self.nodes[0].getnewaddress(), 1)
+        tx = self.nodes[0].decoderawtransaction(self.nodes[0].gettransaction(txid)['hex'])
+        assert 0 < tx['locktime'] <= 121
+
+
+if __name__ == '__main__':
+    CreateTxWalletTest().main()
diff --git a/src/wallet/wallet.cpp b/src/wallet/wallet.cpp
index b2539c401a4..bda823415b0 100644
--- a/src/wallet/wallet.cpp
+++ b/src/wallet/wallet.cpp
@@ -2417,34 +2417,25 @@ bool CWallet::FundTransaction(CMutableTransaction& tx, CAmount& nFeeRet, bool ov
     return true;
 }
 
-bool CWallet::CreateTransaction(const vector<CRecipient>& vecSend, CWalletTx& wtxNew, CReserveKey& reservekey, CAmount& nFeeRet,
-                                int& nChangePosInOut, std::string& strFailReason, const CCoinControl* coinControl, bool sign)
+static bool IsCurrentForAntiFeeSniping()
 {
-    CAmount nValue = 0;
-    int nChangePosRequest = nChangePosInOut;
-    unsigned int nSubtractFeeFromAmount = 0;
-    for (const auto& recipient : vecSend)
-    {
-        if (nValue < 0 || recipient.nAmount < 0)
-        {
-            strFailReason = _("Transaction amounts must not be negative");
-            return false;
-        }
-        nValue += recipient.nAmount;
-
-        if (recipient.fSubtractFeeFromAmount)
-            nSubtractFeeFromAmount++;
+    if (IsInitialBlockDownload()) {
+        return false;
     }
-    if (vecSend.empty())
-    {
-        strFailReason = _("Transaction must have at least one recipient");
+    constexpr int64_t MAX_ANTI_FEE_SNIPING_TIP_AGE = 8 * 60 * 60; // in seconds
+    if (chainActive.Tip()->GetBlockTime() < (GetTime() - MAX_ANTI_FEE_SNIPING_TIP_AGE)) {
         return false;
     }
+    return true;
+}
 
-    wtxNew.fTimeReceivedIsTxTime = true;
-    wtxNew.BindWallet(this);
-    CMutableTransaction txNew;
-
+/**
+ * Return a height-based locktime for new transactions (uses the height of the
+ * current chain tip unless we are not synced with the current chain
+ */
+static uint32_t GetLocktimeForNewTransaction()
+{
+    uint32_t locktime;
     // Discourage fee sniping.
     //
     // For a large miner the value of the transactions in the best block and
@@ -2465,22 +2456,61 @@ bool CWallet::CreateTransaction(const vector<CRecipient>& vecSend, CWalletTx& wt
     // enough, that fee sniping isn't a problem yet, but by implementing a fix
     // now we ensure code won't be written that makes assumptions about
     // nLockTime that preclude a fix later.
-    txNew.nLockTime = chainActive.Height();
+    if (IsCurrentForAntiFeeSniping()) {
+        locktime = chainActive.Height();
+
+        // Secondly occasionally randomly pick a nLockTime even further back, so
+        // that transactions that are delayed after signing for whatever reason,
+        // e.g. high-latency mix networks and some CoinJoin implementations, have
+        // better privacy.
+        if (GetRandInt(10) == 0) {
+            locktime = std::max(0, (int)locktime - GetRandInt(100));
+        }
+    } else {
+        // If our chain is lagging behind, we can't discourage fee sniping nor help
+        // the privacy of high-latency transactions. To avoid leaking a potentially
+        // unique "nLockTime fingerprint", set nLockTime to a constant.
+        locktime = 0;
+    }
+    assert(locktime <= (unsigned int)chainActive.Height());
+    assert(locktime < LOCKTIME_THRESHOLD);
+    return locktime;
+}
+
+bool CWallet::CreateTransaction(const vector<CRecipient>& vecSend, CWalletTx& wtxNew, CReserveKey& reservekey, CAmount& nFeeRet,
+                                int& nChangePosInOut, std::string& strFailReason, const CCoinControl* coinControl, bool sign)
+{
+    CAmount nValue = 0;
+    int nChangePosRequest = nChangePosInOut;
+    unsigned int nSubtractFeeFromAmount = 0;
+    for (const auto& recipient : vecSend)
+    {
+        if (nValue < 0 || recipient.nAmount < 0)
+        {
+            strFailReason = _("Transaction amounts must not be negative");
+            return false;
+        }
+        nValue += recipient.nAmount;
 
-    // Secondly occasionally randomly pick a nLockTime even further back, so
-    // that transactions that are delayed after signing for whatever reason,
-    // e.g. high-latency mix networks and some CoinJoin implementations, have
-    // better privacy.
-    if (GetRandInt(10) == 0)
-        txNew.nLockTime = std::max(0, (int)txNew.nLockTime - GetRandInt(100));
+        if (recipient.fSubtractFeeFromAmount)
+            nSubtractFeeFromAmount++;
+    }
+    if (vecSend.empty())
+    {
+        strFailReason = _("Transaction must have at least one recipient");
+        return false;
+    }
 
-    assert(txNew.nLockTime <= (unsigned int)chainActive.Height());
-    assert(txNew.nLockTime < LOCKTIME_THRESHOLD);
+    wtxNew.fTimeReceivedIsTxTime = true;
+    wtxNew.BindWallet(this);
+    CMutableTransaction txNew;
 
     {
         set<pair<const CWalletTx*,unsigned int> > setCoins;
         LOCK2(cs_main, cs_wallet);
         {
+            txNew.nLockTime = GetLocktimeForNewTransaction();
+
             std::vector<COutput> vAvailableCoins;
             AvailableCoins(vAvailableCoins, true, coinControl);