e-know.net issue warning to the conveyancing industry against using unsecured emails
e-know.net, the leading provider of outsourced IT services in the legal sector has issued a warning to the industry against using unsecured emails.
With an estimated £801,009,009 of funds being moved daily through the banks, and mortgage fraud occurring in 1 in 300 transactions according to Experian, it is no surprise that the industry is being targeted by criminals.
In fact, it is thought that 70% of Professional Indemnity claims relate to property transactions, the highest risk area of law.
The Solicitors Regulation Authority (SRA) has warned repeatedly against the threat of cybercrime since it was first highlighted in its Risk Outlook spring update in March 2014.
One bad practice that was repeatedly highlighted within the report was the use of the unsecured webmail or unapproved devices to transfer files.
The Information Commissioner’s Office (ICO) has also warned law firms against the risk of using unsecure email and advises firms that “When sending personal information by email to consider whether the information needs to be encrypted or password protected.”
Mark Sundin of e-know.net says: “Conveyancing is an industry that requires a certain amount of trust; large amount of money changes hands and the process can be quite lengthy, necessitating numerous email exchanges between lawyer and client. However, despite the concerns raised by the SRA and ICO, un-encrypted email is still the most used means of collaboration. In fact, a recent survey carried out by LexisNexis reported that law firms rely on email more than any other tool to collaborate with clients and third parties on privileged information. Worryingly, only 22% (of the sub 100 lawyer firm) reported the use of email encryption.”
Mark goes on to say: “e-know.net customers are increasingly being asked by customers how they can guarantee the protection of their money, not surprising given the increased coverage in national newspapers.”
Only this month the Telegraph reported on the story of Paul and Ann Lupton: ‘Fraudsters hacked emails to my solicitor and stole £340,000 from my property sale.’
e-know.net can assist firms and email encryption should be part of your short to medium term plan to enforce or implement – and costs less than firms may think. A simple but highly effective email encryption solution currently used by 680 law firms will protect the information contained in the email message and its attachments. If you would like more information on e-know.net’s secure email platform, please contact Mark Sundin on +44(0)1952 225 000 or [email protected].