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13 December 2018

AI Could Increase Cyber Threat To Conveyancers
UK - Today's Conveyancer
Computer security software giant McAfee has released a report warning that companies face being ‘under siege’ from malware, ransomware and other cyber threats next year. They predict that underground organisations will collaborate to form bigger, more powerful groups, offering off-the-shelf packages to criminals. Cyber threats will no longer consist of one attack, but are likely to combine as many as five different techniques, for example phishing, ransomware and cryptojacking.

So-called malware-as-a-service will be increasingly available, allowing criminals to purchase the building blocks to tailor an attack. The biggest underground firms are becoming stronger, as they use methods such as affiliate marketing to increase their reach.

Partnership with other criminal enterprises is also expected, such as money laundering, identification of vulnerabilities and evasion techniques.
Today's Conveyancer

Implementation of the Financial Intelligence Centre Act, 38 of 2001 (the FIC Act), by the estate agency sector
South Africa - EAAB
Press release on the implementation of the Financial Intelligence Centre Act, 38 of 2001 (the FIC Act), by the estate agency sector
The Estate Agency Affairs Board (EAAB), as the Supervisory Body of the estate agency sector, plays a key role in overseeing the implementation of the FIC Act within the sector. It is self-evident that the implementation, compliance and enforcement of the FIC Act, including customer due diligence and the application of the risk-based approach, requires continuous engagement between the EAAB and estate agency enterprises.

A transitional period was granted by the Financial Intelligence Centre (the FIC) to enable full compliance with the new requirements of the FIC Act to be achieved by the sector. That transitional period ends on 1 April 2019 from which date all estate agency enterprises must ensure full compliance with the provisions of the FIC Act.
EAAB

2019 Property market outlook
South Africa - Seeff
Patience is needed as we wait for sentiment to improve to such an extent where we can once again look forward to some meaningful economic and property market growth. That is the word from Samuel Seeff, chairman of the Seeff Property Group who says that it is sentiment more than anything else that is currently holding back the economy and market.

2018 has, by all accounts been a challenging year for the economy and property market. Overall, while it remained business as usual for the sub-R1.5 million sector, there was a notable weakening in demand above the R3 million to R5 million price bands, says Seeff.
Seeff

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