PEXA beefs up security controls

Risks raised for years. National e-conveyancing platform PEXA will fill gaps in its security controls that have been exploited by hackers to fleece millions of dollars from home sale transactions. In a new statement, acting CEO James Ruddock said the platform - run by major banks and state governments - will immediately deploy a new set of controls.

“We have begun work developing additional alerts and processes to further enhance security in the system,” Ruddock said.

“Over the next week, PEXA will make changes to the system which will only allow new users to be created in an inactive status meaning PEXA itself will need to enable them. “In addition, we’ll be adding a feature to the system which highlights the date, time and specific user that last updated the settlement schedule.”

The changes came after a Melbourne family lost $250,000 from the sale of their home.

See Itnews.com.au and Is the Cybersecurity of Your Business eConveyancing Ready? on Security Boulevard

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