Recent news has highlighted once again the risks caused by using insecure email communication to transfer confidential information, as this article shows.
The effect of online theft is clearly devastating for those that have had their money stolen – in many cases these losses represent life savings and cannot be recovered. Criminals posing as conveyancing solicitors, or alternatively hacking into private email accounts and falsifying bank account details so that the conveyancer transfers the proceeds from the sale of a property into a criminal’s account have become much more frequent in recent years.
To allow conveyancers to be confident that they are transferring funds into the correct account, Safe4 are offering the use of their highly secure information transfer service, into which clients or indeed any other party can enter bank details directly into designated fields. This completely eliminates the risks posed by using insecure email communication to transfer this information. It is not only email that is insecure – hard copy post and voice communication also carry risks of their own.
Safe4 are also working with other organisations that have to transfer funds into a client account at the completion of a transaction. These include art galleries, auction houses, and others who may be selling assets on a client’s behalf.
In addition to the storage of all data in UK-only data centres accredited to ISO 27001, Safe4 have just completed another penetration test carried by an independent UK Government accredited agency. Again this has confirmed the high levels of security offered by using Safe4 as the means of transferring confidential information between parties that are involved in high-value transactions. Compliance with the SRA guidelines for cloud computing gives conveyancers additional confidence that information is being transferred between parties with minimum risk.
For more information on how Safe4 can help your organisation to improve the protection of clients’ money, please contact us.