What happened?

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Recent reports state the email account of a conveyancer in Victoria was hacked and used to reset PEXA login credentials. The scammers then added new bank details to the PEXA account, enabling them to reroute settlement funds to a different bank account. PEXA is investigating and plans to implement additional security measures.

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Previously, similar email correspondence was intercepted between a buyer and settlement agent. A fraudulent email was sent to the trusting buyer providing new account details and when funds were transferred the money disappeared overseas.

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What can I do to protect myself against hackers?

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There are straight-forward precautions you can take to reduce your chance of being targeted during the property settlement process.

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• When checking emails and doing online banking avoid using unsecured free Wi-Fi
   

• Ensure your devices – computer, mobile, tablets – have up-to-date software protection. If in doubt contact a local IT expert.
   

• Update your banking and email passwords regularly – use STRONG passwords and DO NOT use the same password across platforms.
   

• Before making that big transfer, pick up the telephone and double check the account details provided.

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Strategic Property Conveyancing Security

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It is our priority to ensure your property transaction occurs seamlessly and safely. With this in mind, we have numerous safety measures in place to deter hackers and scammers. For example;

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• Conveyancers work from our office which means client information never leaves our system.
   

• We have a comprehensive insurance policy in place to protect our client’s funds.

• The office and building are safeguarded by alarm systems.
   

• Our computers are protected with password management software.
   

• Client information and details are stored securely for the required six-years post-settlement.
   

• Digital devices where confidential information is kept have up-to-date virus and malware protection and are regularly backed-up.

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NOTE: Strategic Property Conveyancing will never send you an email with bank details in the body of the email.

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Plus, if you are concerned about transferring property transaction funds electronically, we accept payment by bank cheque.

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Lastly, stay alert and trust your instincts. We are happy to take your calls to verify details or answer any questions you may have about your property settlement.