Conveyancing Association revises fraud protocol | Mortgage Strategy

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The Conveyancing Association has revised its cyberfraud and fraud protocol to provide additional information to firms on steps they can take to avoid failing for these scams.

The latest version of this protocol includes feedback from the National Cyber Security Centre.

The CA has also updated its definition of different types of fraudulent activity, including vishing, malware, phishing, smishing, outbound/inbound cheque fraud, card payment fraud, spear phishing and CEO/whaling fraud.

The protocol provides advice and information on how firms can operate and the measures they can take in order to protect themselves and their clients, particularly in light of increased home working.

Given the ongoing Covid situation, the NCSC has provided a guide to keeping safe while remote working, which covers issues such as checking callers’ identity, cyber security at home and the use of public wi-fi.

Since the protocol’s launch a large number of CA member firms have achieved the standards required and been certified under the cyber essentials scheme for IT security. 

The CA urges all its member firms to follow the protocol and achieve accreditation as soon as possible.

This update follows recent warnings by the Financial Conduct Authority that mortgage fraud is an inherent risk in the intermediary market.

The FCA says that it expects firms to be able to spot the signs of fraud in payslips, accountant certificates, tax returns and bank statements. The watchdog also says that firms should be aware of cyber risks and should be able to defend themselves against it occurring. 


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