Digital ID Trust Scheme on trial in 11 locations
Estate agents, licensed conveyancers, solicitors and mortgage intermediaries operating in Battersea, Chiswick, Clapham, Putney, Wimbledon, Richmond, Kew, Cheltenham, Gloucester, Harrogate and York are to be the first to benefit this year from trials of a new digital identity trust scheme to make home buying and selling a quicker and more secure digital process. These geographical […]
How digital onboarding can give your firm competitive advantage
In today’s world of e-commerce and online banking, consumers expect instant access to services in a safe and secure environment. In the legal industry, meeting the needs and expectations of clients is key in an evolving, challenging and competitive legal environment. Unrivalled client experience differentiates law firms from competitors and added value will give fee […]
Fraud and computer misuse crimes rise by more than a third
The Office for National Statistics (ONS) Crime Survey for England and Wales showed that there were an estimated 4.6 million fraud offences in the year ending March 2021, a 24% increase compared with 2020 figures. The survey also revealed that fraud and computer misuse offences have risen by more than a third in England and […]
Law firms in SRA firing line over AML failures
The fines levied by the SRA on 13 firms in recent weeks continue to demonstrate a fundamental lack of understanding around responsibilities when it comes to the money laundering regulations. The firms in question had failed to comply with their procedural responsibilities to provide their firm-wide AML risk assessment and delayed their AML declarations. In […]
Technical Corner: Here Comes the Sun!
Our ‘Technical Corner’ brings you information that will help you to continue to grow and develop in your career. This month’s technical corner article comes from Amy Bell, Director at Teal Compliance If you have any questions for our panel of experts, please submit them using the contact form below. We will publish the questions […]
Single digital ID a step closer
The government have published plans designed to enable the production of a single digital identity for everyone, for the purposes of providing ID verification for activities such as buying alcohol through to purchasing a home. A consultation will seek input on three key questions the governance system to oversee digital identity and and make sure […]
Mitigating the Risk of Cyber Fraud
Conveyancers are a prime target for cyber criminals as they regularly deal with such significant sums of money. Between March 2020 and March 2021, the SRA reported 147% increase in cyber attacks on law firms when comparing the first 3 months of 2020 to the first three months of 2021. The repercussions of cyber attackers […]
Free Fraud and Cyber-Crime Prevention Webinar
poweredbypie, a Dye & Durham company working together with Lawyer Checker, is inviting conveyancers to a free fraud and cyber-crime prevention webinar to be held on 22 July 2021 at 11am. For further information or to register please see: https://attendee.gotowebinar.com/register/4575261812902315790 Tom Lyes Director of Engagement, Lawyer Checker confirms: “Cyber-crime is a growing issue for conveyancers […]
Solicitors fined over failure to prevent £3.3m conveyancing fraud
Two directors of the firm Mayland Porter have been fined £10,000 and £5,001 respectively, after failing to adequately oversee the activities of a bogus solicitor alleged to have carried out £3.3m in property fraud. The Solicitors Regulation Authority (SRA) fined Darren Fazackerley and Meenan Goyal in relation to conveyancing frauds taking place in the London […]
Firms fined for AML failures
The Solicitors Regulation Authority has fined six firms as it continues to clamp down on anti-money laundering non-compliance. The firms were fined £800 and ordered to pay costs of £600 after they took over a year to demonstrate they had taken steps to comply with new regulations introduced in 2020. The fine follows previous sanctions, […]
Stamp Duty is on holiday, Money Laundering is not
This article has been written by Nikki Shorto a newly qualified CLC Licensed Conveyancer based in Bournemouth, Dorset. We are all experiencing the pull of the never-ending volume of work to do at the moment, and doing our best to line up as many completions as we can to help our clients enjoy a Stamp […]
Conveyancers beware as data stolen from listed law firm
Cyber crime hit the headlines again last week as listed city firm Gateley reported client data had been stolen during an attack on its IT network. A statement to the London Stock Exchange on 16th June confirmed that the firm was managing an incident in which its IT system had been breached and client data […]
Property professionals invited to try new ‘Safe Harbour’ ID Check for free
tmgroup, the leading provider of property searches and data, are excited to announce that they can now support their clients in meeting HM Land Registry’s Digital ID Standard (Safe Harbour) – thanks to their partnership with Thirdfort and the launch of a new ID check, which incorporates Government-grade security. Try the new Thirdfort Standard ID […]
Cyber Security spend on the rise as it becomes more important than ever
Since the pandemic and the rise of people working from home, cyber criminals have had to adapt to their new environment prior to launching a cyber attack. The UK Government estimates that the cost of cyber crime is £27bn a year. The latest data released in the Hiscox Cyber Readiness Report shows that organisations are […]
Would the Digital ID framework alter the way fraudsters behave?
The home buying and selling process will always be a lucrative prize for fraudsters because their pay out is huge. It seems to be a frequent occurrence in the news that a fraudster has made off with a buyer’s money, with a recent example of two homeowners picking up the pieces after losing £800,000 following […]
New tool to help firms achieve Cyber Essentials accreditation
The coronavirus pandemic has changed the way cyber criminals target those they want to exploit. With this in mind, the National Cyber Security Centre (NCSC) has launched the Cyber Essentials Readiness Tool which helps firms prepare themselves for Cyber Essentials certification. The tool has been developed by IASME and asks firms a series of questions […]
Moving to a hybrid workplace
Join us for the legal services event aimed at preparing law firms for the relaxing of lockdown restrictions in the UK. The time has come to embrace a hybrid working model and set your partners and fee earners up for success. Date & Time: 25/05/2021, 10am (duration 2 hrs incl. Q&A) The UK Government has […]
CLC launches cyber insurance consultation
The Council for Licensed Conveyancers (CLC).has launched a consultation aimed at clarifying the extent to which cyber-related losses are covered by professional indemnity insurance (PII). The six-week consultation is in response to directions from both the Prudential Regulation Authority and Lloyd’s of London to manage ‘silent’ risk by being explicit on whether coverage is provided […]
Data Innovation Driving Source of Funds
In January 2021 The Legal Sector Advisory Group on anti-money laundering (LSAG) updated its guidance on how law firms should be dealing with the increasing risk of money laundering. Conveyancing continues to be a focus for criminal activity, enabling criminal organisations to filter illegal funds through the sale and purchase of property. One of the […]
Property Lawyers Convey Law working with the Government to prevent crime
Property Lawyers Convey Law can now check information provided by clients against information held by the government to help verify someone’s identity at the start of a property transaction. This is the first such integration with a legal practice in the UK. The Document Checking Service (DCS) pilot is a government initiative designed to offer organisations […]
