Cyber-attacks on Conveyancing firms continue to rise - triSearch

Cyber-attacks on Conveyancing firms continue to rise

Cyber-attacks are becoming more frequent to conveyancing firms.

Since the pandemic started, there has been a spike in online scams, fraud and cyber-attacks, making it even more crucial than ever to conduct your conveyance with the latest and safest technology.

As reported by The Sydney Morning Herald, coinciding with the increase of the working from home environment has been the mass release of cheap malware on the dark web, which has created a perfect storm for an uptick in illegal online activity.

According to the latest data from the Australian Cyber Security Centre, one cyber-crime is reported in Australia every eight minutes last year, a 13 per cent increase from the year prior. Total yearly losses reached more than $33 billion but under-reporting means the actual figure is likely to be much higher.

As a result, businesses are increasingly seeking to insure themselves against cyber-attacks. Normal professional indemnity insurance often excludes cyber crime, leaving businesses owners on the hook for hefty payments if they fall foul of hackers.

A Sydney-based conveyancer spoke out earlier this year about her recent experience with cyber criminals, having nearly had $330,000 in client funds stolen in 2021.

She told Charlotte Grieve at the Sydney Morning Herald that there needs to be more education to encourage all conveyancers to buy cyber insurance.

“If I didn’t have this policy (cyber insurance), it would have ruined me. Not just financially but, my reputation, everything,” Fisher said.

Thwart cyber-attacks with Communicate

There are many ways to protect your conveyancing firm from cyber-attacks, from updating your device software, using multi-factor authentication and regularly backing up your data to the cloud or an external hard drive.

However, when communicating safely about confidential and important within your business and with your clients, one of the safest options is to utilise the communicate feature within triSearch’s all-in-one conveyancing solution, triConvey.

Communicate is a secure file sharing and messaging platform, that allows you to keep your conversations secure and keep your team up to speed. The communications tool can be used to message internally to other staff or to other firms.

By being a triConvey user, you can view and comment on files received, upload files, and read and send messages all from a secure browser or mobile app, removing the need for email.

The tool replaces the many email threads and text chains you may have in your office, with one simple and streamlined communication platform. 

For more information about how triConvey features can help protect you from cyber-attacks, book a demonstration with us today.

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