Cyber Resilience
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Cyber risk in property transactions: a hidden threat
Property transactions sit at the intersection of high-value financial movements, sensitive personal data, and intense time pressure. Cyber incidents in property transactions are no longer rare or exceptional. Instead, they represent a current, routine, and growing business risk for law firms.
Threats in conveyancing
The document breaks down these operational vulnerabilities by exploring:
- The tactical execution of Business Email Compromise (BEC) schemes where attackers quietly monitor mailboxes to intercept funds during completion deadlines
- The regulatory fallout of delayed breach responses, highlighting recent ICO fines for missing multi-factor authentication and failing the 72-hour reporting rule
- The implementation of baseline defensive frameworks, focusing on rigid bank verification processes, employee threat awareness, and Cyber Essentials safeguards
