It’s a topic that is at the forefront of every modern conveyancing business owner’s mind. Client data security. As technology advances and data becomes increasingly digitised, the risk of data breaches, cyber-attacks, and privacy violations looms large. Over the course of any given conveyancing transaction, massive amounts of sensitive information are exchanged, so the security and confidentiality of client data are paramount. Conveyancing businesses, like any others handling personal information, must be vigilant against potential risks and threats to data security.
Data breaches, cyber-attacks, and privacy concerns are not new phenomena. However, with the rapid advancement of technology and the growing reliance on digital platforms, the landscape of data security is evolving, and with this, conveyancers are presented with new challenges and vulnerabilities. It’s critical to stay informed about these trends and take proactive measures to safeguard your clients’ data.
Data Breaches
One of the most significant threats facing conveyancing businesses is the risk of data breaches. A data breach occurs when unauthorised individuals gain access to sensitive information, such as personal details, financial records, or legal documents. These breaches can occur through various means, including hacking, phishing scams, malware infections, or even physical theft of devices.
At Realtime Conveyancer, we understand the critical importance of data security in the conveyancing process. We are committed to implementing robust policies and practices to protect the privacy and integrity of the information entrusted to us by our clients.
Our commitment to data security extends to the systems and infrastructure we employ. Realtime Conveyancer utilises Microsoft Azure, a leading cloud computing platform known for its advanced security features and compliance certifications. You and your client’s data is encrypted during transmission and while at rest, using industry-standard protocols such as Transport Layer Security (TLS) and Advanced Encryption Standard (AES). All data stored by Realtime is done so within Australia. This ensures that your data is not only secure but also compliant with data residency regulations.
Cyber Attacks
Cyber attacks are another prevalent threat to client data security. Cybercriminals employ sophisticated techniques to infiltrate systems, steal data, and disrupt operations. These attacks can range from ransomware and malware infections to distributed denial-of-service (DDoS) attacks and social engineering scams. The consequences of a successful cyber attack can be severe, resulting in financial loss, reputational damage, and legal liabilities. Access to our databases is secured using Cloudflare, which provides an additional layer of security, including DDoS attack mitigation, to further safeguard your data.
Privacy Concerns
Privacy concerns also pose significant challenges for conveyancing businesses. With the introduction of data privacy regulations such as the Australian Privacy Act 1988 and the Privacy Act Review 2023, organisations are under increasing pressure to ensure the confidentiality and integrity of client information. Failure to comply with these regulations can result in hefty fines, legal penalties, and damage to reputation.
Realtime Conveyancer complies with these regulations and adheres to the Australian Government’s Notifiable Data Breaches (NDB) scheme, ensuring that our data handling practices meet the highest standards of security and accountability.
Internal Threats & Risks
In addition to external threats, conveyancing businesses also face internal risks, such as employee negligence or misconduct. Accidental data breaches, unauthorised access to information, or improper handling of sensitive data can all pose significant risks to client confidentiality. It’s essential for organisations to implement robust security policies, employee training programs, and access controls to mitigate these internal threats.
There are many training options available to ensure that your staff stays up-to-date with the latest cybersecurity best practices. Contact your local AIC for information about what courses are available to you and your team.
Conveyancing Best Practices
Ultimately, protecting client data requires a multifaceted approach from conveyancing business owners as well as their teams that addresses both technical and human factors. Our goal at Realtime Conveyancer is to provide our clients with peace of mind, knowing that their data is in safe hands. We recognise that data security is not just a legal obligation. For conveyancers, it is a fundamental aspect of building trust and confidence with your clients, and so to for us, with you.
Find out more about our data use and security practices.
