Hacks, Scams and Chartered Surveyors

20 September 2018

The property sector has long been a target for fraudsters, focusing primarily on solicitors dealing with conveyancing transactions - but so far chartered surveyors have largely slipped beneath their radar. But for how much longer?

As scammers and hackers become ever more sophisticated and the range of crimes being perpetrated increases - identity theft, ransomware and social media data harvesting to name a few - online fraud and “social engineering” (where victims are manipulated into divulging confidential information) are a growing risk.

While criminals continue to see conveyancers as a rich seam, with reported cybercrime against law firms up by over 50% last year and almost 650 reports of bogus firms copying real firms’ identities, there is clearly huge potential for them to exploit weaknesses in surveyors’ systems and processes too. After all, significant amounts of money are also potentially at stake in the surveyor space.

At the same time, high profile hacks and heightened scrutiny of privacy and data protection make cybersecurity a top priority for clients. Awareness is increasing and it’s an issue more and more chartered surveyors are realising they cannot afford to ignore.

This briefing looks at some of the main areas of risk and addresses what chartered surveyors may need to think about (and what actions they could take) to protect themselves.

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For further information, please contact Stuart Mangion, Partner, Professional Service Practice on +44 (0)20 7558 3544 or email stuart_mangion@jltgroup.com.