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Cyber Security and E-Conveyancing

Jun 16, 2022 11:28:23 AM

We are living in an age full of technology whereby professional services are being provided online now. E-Conveyancing being one such line normally referred and carried through PEXA transactions - https://www.pexa.com.au/ . Cyber-crime and fraud are global concerns. Cyber fraud is defined as a cybercrime done through online networking designed to retrieve otherwise inaccessible private information and sometime direct access to bank accounts or money involved in a transaction.

As a result, many crimes can be committed such as fraud, online image abuse, identity theft and cyber threats. Cyber fraud targets everyone and attack the ones that allow access to secure information such as passwords. It is common for individuals, businesses, educational institutions and even government institutions to be attacked, accentuating the importance of protection as valuable information can be used to exploit.

An example can be seen in a hyperlink. This can be sent via email and is encrypted, clicking the link could provide the third-party access into your account and your private information such as your username and passwords. This could result in identity theft where the third party, unbeknown to the recipient, is acting untruthfully as someone else. This could lead to money being transferred into an incorrect account and the potential for that money to be lost forever as these third-parties, often called scammers, are exceptionally good at disguising themselves and covering any potential trails that might give away their own identity.

With cyber crime becoming increasingly prevalent, it is essential for everyone to be aware of potential scam. If you are transferring money into any account, it is urged that you confirm by phone to ensure the accuracy of the account details and minimise risk of falling risk to a cyber-crime. Additionally, if you are apart of any conveyancing process, your conveyancer or solicitor should always confirm the account details with you over the phone. If this hasn’t been done, do not hesitate to contact them and confirm everything is in order.

We at Sydney Conveyancing ensure that not only our emails are protected but we also protect our clients Identification and other important document being received or sent. We understand the role we play in maintaining the security of the network to see that the transactions are done smoothly as Buying and selling a home is an important time and we understand the stress that can be felt if and when things don’t go to plan.

Preet Kaur
Written by Preet Kaur

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