Conveyancing firms have been warned that they need to engender a cyber-security and cyber-resilience culture in order to tackle the growing number of attacks and threats from cyber fraudsters.
That was the key message delivered by Richard Bach, assistant director for cyber security – Digital Economy Unit at the Department of Culture, Media and Sport, at the most recent Conveyancing Association (CA) Management Committee Meeting (MCM) and All Member Meeting (AMM).
The CA holds regular meetings for its members with keynote speakers and at March’s event, Bach highlighted the threats faced by conveyancing firms and suggested management should not simply see cyber-security as an “IT Department problem” but one to be tackled, and engaged with, at all levels.
He also highlighted the sheer scale of the cyber threat firms now face and urged all attendees to “manage [their] risks” and “reduce the attack surface” of their systems in order to protect themselves against the actual and reputational harm that can be suffered.
The CA is currently working on drafting its Cyber Security Protocol for members to provide support, guidance and practical help on what they can put in place to mitigate the risk. This will be a best practice guide to share with staff in order to help reduce the threat of attacks and the chances of intercepted emails on their business and client money. The Protocol is expected to be launched next month.
Eddie Goldsmith, chairman of the Conveyancing Association, said: “If ever there was a CA meeting which highlighted the real risk to our members, and indeed, all businesses from the cyber-fraudsters then it was this one.
“We were incredibly lucky to have Richard attend and he gave us a fascinating insight into the wider cyber-crime picture, the work that is going on at government level and the efforts all firms need to make when it comes to protecting both themselves and their clients. I’m sure it was a real eye-opener for all attendees and should certainly have sent them back to their firms with a renewed focus on how they can make their businesses much more cyber-crime averse.
“To this end, we will be issuing our Protocol next month, which is another benefit of CA membership, and will offer a best practice guide in this area.”