“The risk to the legal profession in South Africa is exacerbated by our being the second most targeted country in the world with regard to cyber-attacks. In the case of business eMail compromises, the Attorneys Indemnity Insurance Fund (AIIF), [now the Legal Practitioners Indemnity Insurance Fund (LPIIF)] reported in August of 2018 that since the exclusion of cyber liability insurance with effect from the 1st July 2016 they had been notified of over 110 cybercrime related claims with a total value of R70 million” (Anthony Pillay, LSSA)
One of the increasing risks you face as a conveyancer is cyber-crime, and you can expect that trend to continue as online criminals become more and more sophisticated in how they lull you and your clients into accepting their fraudulent emails as genuine.
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