People across Australia have lost money when hackers have impersonated a law practice or another party involved in a legal matter by altering electronic communications including email, fax, social media, text, instant messaging, applications, file sharing and documents including PDF or Word documents. The following steps are critical to reduce this risk and if you are involved in a transfer of funds these are steps you should take to reduce the risk of loss.
You may be asked by a lawyer, agent or bank to move money to fund settlement. If you are, you need to be confident that person’s emails haven’t been compromised (hacked).
Zettle uses www.live-sign.com to biometrically verify its customers, and to use those biometrics to secure communications with our customers. However if someone else asks you to move money, you should follow this handy do’s & dont’s.
Transfer any funds (or give any funds transfer information to someone else) without first telephoning the apparent original sender to verbally confirm the account number, details and amounts by reading out and reading back the account and BSB numbers (or other specific payment details where applicable, e.g. if not a bank account) and confirming any instructions. This step is crucial to ensure that the information you have received is accurate and to avoid any potentially fraudulent activity.
Give the same warnings to anyone else known to be connected to the matter and anticipated to be involved in transferring or receiving any funds or funds transfer information, including but not limited to:
By spreading awareness, you help protect everyone involved in the transaction from possible scams.
When calling to check payment details, only use a phone number for the apparent original sender which you have verified from a source that is different to the communication containing those details,for example a separate paper communication or checking the person’s website or telephone listing. This ensures that you are communicating with the legitimate party and not an imposter.
Contact your conveyancer immediately if you have any doubts about emails or any other electronic communications that appear to have come from their company. Your conveyancer can help you verify the authenticity of the communications and provide guidance on how to proceed safely.
It is essential to remain vigilant and cautious when handling sensitive information and transactions. By following these steps, you can significantly reduce the risk of falling victim to cyber fraud and ensure the security of your financial transactions.
Disclaimer: Every property transaction is different, and the information provided may not be relevant to your circumstances. By using this site you agree that the information provided is for general purposes only and does not constitute legal, financial, or professional advice.
