On May 5, the Conveyancing Association (CA), the leading trade body for the conveyancing industry, launched its Cyberfraud and Fraud Protocol scheme which it hopes will encourage its members to take the issue of cybercrime seriously.
Firms will be asked to work towards a Cyber Safe Standard whereby they adopt, and adhere to, the Protocol and demonstrate they have been certified under the Cyber Essentials Scheme for IT security – or its equivalent.
According to CA, there have been a number of recent examples whereby customer’s email accounts have been hacked with fraudsters posing as the conveyancing firm and convincing the buyer to send their deposit monies to a different account. Customers have lost tens of thousands of pounds plus their potential new home as a result of this fraud.
The CA is urging its member firms to follow the Protocol and achieve Cyber Essentials accreditation as soon as possible. By achieving this, and adopting the Cyber Safe Standard, it believes members can mitigate much of the risk that criminals using unsophisticated techniques present.
‘We have recognised the growing number of attempts at fraudulent activity in the conveyancing process and we wanted to provide our members with a set of standards which they can achieve in order to help them in the fight against this fraud. By following the Protocol, completing the Cyber Essentials standards, and ensuring they are ‘Cyber Safe’ the chances of this type of fraud being successful are far less. In following the Protocol firms are not just committing to a good level of protection for their organisation and their clients now, but will be able to maintain a continuous review of risk,’ said Beth Rudolf, Director of Delivery at the Conveyancing Association.
How can PGI assist?
PGI Cyber’s Services & Cyber Essential Portal allows organisations to complete the Cyber Essentials assessment online with detailed instruction and full support where required. PGI Cyber Essentials Portal is designed to streamline the process of ordering cyber services whilst supporting organisations to increase their cyber resilience.
To get started click here
For more information on the Cyber Essentials Portal please contact 0845 600 4403 or alternatively email.