Conveyancing portal will tackle fraud in the conveyancing industry
Reports of fake law firms have increased by 125% in the last two years, according to figures from the Solicitors Regulation Authority (SRA).
With a substantial rise in criminals pretending to be genuine lawyers to try to con clients, Veyo, the comprehensive conveyancing portal, the joint venture between the Law Society and Mastek (UK), reveals how the portal to be launched soon will help tackle fraud in the conveyancing industry.
Elliott Vigar, CEO of Veyo, comments: “Fraud via impersonation is a growing problem in the conveyancing industry. Veyo is a comprehensive conveyancing portal that will offer an efficient, secure and transparent way of managing the home buying process. All the processes checks and documentation prepared and undertaken by solicitors and licensed conveyancers in the sale and purchase of residential properties will be conducted online, within a secure environment.
“All conveyancers who use our system will be subject to a vigorous and robust, vetting and onboarding process. To ensure that they are who they say they are, and that users can have confidence that they are working within a trusted community of peers. We believe we are offering a far more secure process that is currently available and one that will assist greatly in helping to counteract the problem of fraud in the conveyancing industry.”