From 1 July 2018 electronic conveyancing (eConveyancing) replaces many of the paper and manual processes involved in property transactions with secure online processes.
With the recent cyber security concerns relating to eConveyancing, PEXA have now announced they will be introducing a Consumer Guarantee.
The announcement provides an overview of the additional cyber security systems and processes that PEXA have already introduced to combat security concerns. These include:
- Reinforcing and strengthening existing scanning measures, including implementing daily monitoring in relation to password reset activity, new users and change of account details; including follow-up with Members;
- Creating new users in an “inactive” mode, meaning only PEXA can activate all new users after confirming the new user with the appropriate member of PEXA;
- Introducing Workspace time stamps so members can see who updated the Workspace and when; and
- Introducing an additional verification layer upon sign-in.
Further announcements are expected from PEXA regarding the new verification layer and full details of their consumer guarantee.
The team at Kenny Spring Solicitors is PEXA registered, and can handle all your property and eConveyancing matters efficiently and safely.
Please feel free to contact our expert team on 1800 650 656 if you have any questions, or would like to arrange an appointment.
Sharyn Jenkins | Solicitor