Interference with personal email accounts has become a major source of fraud in the UK. Take a look at this alarming article. However, more than 70% of UK law firms are still communicating with clients via their clients’ personal email accounts, in many cases to carry highly confidential information such as bank account details when executing conveyancing transactions. Repeatedly, criminals are intercepting email messages to fraudulently change bank details, resulting in money being transferred to the wrong account – and innocent lives being ruined.
The Safe4 Asset Register has been designed to eliminate the risk of fraudulent interception of email. It allows clients to enter their banking information directly into one of the most secure sites on the Internet, and automatically notifies the conveyancer that the information has been provided. The lawyer can then login and obtain the information, whilst audit trails are recording all of the details.
Not only does the Safe4 Asset Register eliminate a risk of major financial loss and severe reputational damage, but it enhances compliance with the SRA guidance on the use of cloud computing services. Furthermore, leading brokers in the Professional Indemnity sector believe that using facilities such as that offered by Safe4 will significantly slow down the recent dramatic rises in premiums.
Please contact us. We can help you to improve compliance and reduce risk.