PEXA (Property Exchange Australia) introduces multi-factor authentication to combat payment redirection fraud but leaves security concerns due to SIM swapping attacks.
The recent media reports of fraud against conveyancing practices suggest that professionals should be taking measures for protecting their businesses from cyber attacks. Cybercriminals primarily rely on an email-based attack know as phishing to help commit payment redirection fraud.
Enforcing Two-factor Authentication (2FA) on your email service is a robust security measure that can prevent payment redirection fraud. In the following article, we demonstrate how you can enable this powerful security feature on your corporate email accounts.
We are publishing a simple questionnaire today to allow conveyancing and legal practices to assess their cybersecurity posture and therefore their ability to use the e-conveyancing platform safely and securely.