We’re taking you on a stroll through memory lane, showcasing your top three articles from The Conveyancing Digest newsletter, throughout 2022.
3 integral cyber-attacks conveyancers must know
Cyber-attacks are an ever-present threat for conveyancing firms. Especially in recent years, with the pandemic driving an increased use of technology throughout the conveyancing workflow.
Now, more than ever, it’s important to be educated on how to keep your practice safe from cyber-attacks.
The conveyancing industry is often affected by the corruption of transactions between clients and the loss of confidential client information. All of which cost Australian businesses and clients, about $29 billion per year in cyber security incidents.
Discussed are the three most common cyber-attacks you should be aware of as a conveyancing firm.
- Identity fraud – Identity fraud is certainly not new, with criminals becoming increasingly skillful at combining leaked personal information with available data on the Internet and social media profiles.
- Fraud-as-a-Service – Fraud-as-a-service is commonly seen when criminals impersonate supply services to carry out fraudulent activity. Cyber criminals are turning to automated voice bots for impersonating businesses and socially engineering customers either over the phone, or commonly, via email.
- Ransomware attacks – Ransomware boomed during the pandemic, with large institutions and critical infrastructures facing disruptions and being forced to pay millions in ransom.
ACSC advises Australian organisations to adopt multiple layers of defence against ransomware, explaining that no single mitigation will protect against all threats.
Read the full articles here.
4 crucial networking tips to grow your conveyancing firm
It’s fair to say that networking doesn’t come easily to everyone. While the extroverts among us might jump at every chance to meet new people, more introverted personalities usually recoil at the prospect of initiating conversations with people they don’t know. Meanwhile, others are just too busy to find the time for small talk.
But, whatever your gremlins (if you have them), networking is beneficial for everyone and their businesses. Here are my four tips to help you kick your fears and grow your professional network.
1. Attend events & offline groups – With 2022 returning to a sense of normality for events, now is the time to attend the conferences, trade shows and other events targeted to your industry.
2. Approach people (or groups) with purpose – First impressions really count and while a firm handshake makes for a good start, you could build rapport with your new connection by explaining who you are, why you are there and what you hope to learn.
3. Be memorable – Before engaging in any networking event or opportunity, be prepared with something impactful to say about yourself, your business or your industry.
4. Give something in return – Initially, you should always engage in networking opportunities with the intention of growing your connections, gaining new information or advice and hopefully landing few new clients along the way.
Read the full articles here.
Pre-purchase report that could have saved $100,000 in damages
A lack of due diligence with no pre-purchase report ordered, has resulted in an Australian homebuyer uncovering more than $100,000 worth of damages to his Asquith property after settlement.
According to triSearch partners Diamond Property Inspections, the recent homebuyer was attempting to hang something from a beam in his newly purchased property.
Subsequently, the nail went through the beam, exposing active termites. The man immediately ordered a pest inspection from Diamond, which would uncover severe damage to the structure of the house.
Importance of Due Diligence
In these cases, and many more, ordering a building and pest inspection would have saved these homebuyers thousands of dollars in post-settlement expenses.
With more than 30 years of service Diamond Property Inspections is Australia’s leading Home Report and Compliance service.
They arrange every type and style of property inspection reports with more than 90 per cent of orders completed within 24-48 hours.
Read the full articles here.
For more business insights, industry trends and key conveyancing stakeholder predictions, download The Conveyancing Handbook Edition 2: A Guide to Success in 2023 now.
