E-CONVEYANCING
TRANSACTIONS
538. Hon RICK MAZZA to the minister representing the
Minister for Lands:
I refer to the recent hacking of an
e-conveyancing transaction conducted in New South Wales using the Property Exchange
Australia online platform, which is currently the only online provider of e-conveyancing.
Recent regulation will force mandatory e-conveyancing in Western Australia and
conveyancing businesses will be forced to sign up to PEXA unless another online
provider is registered prior to 1 December 2018.
(1) Considering
the state government is pushing ahead with only one e-conveyancing provider
currently available, what is the state government doing to ensure that users of
the system do not suffer the same fate as Dani Venn, who was scammed out of
$250 000?
(2) How many similar incidents of
fraud have occurred with PEXA in the past three years?
(3) Was the
method used by the hackers—adding themselves as another user, changing
bank details and transferring the funds to their account—considered as
a possible risk by the state government before regulating mandatory e-conveyancing?
(4) Following the
recent hacking, is the government satisfied that PEXA is a safe and transparent
system for the public of Western Australia and is the state government
satisfied that having only one e-conveyancing provider is in the best interest
of the industry and community?
(5) Would the
state government reconsider its position and make e-conveyancing voluntary
rather than mandatory?
Hon
STEPHEN DAWSON replied:
I thank the honourable member for
some notice of the question.
(1) Landgate is
working with PEXA to ensure that vulnerabilities and potential risks resulting
from conveyancer systems and processes are appropriately managed within the
platform; reminding conveyancers of their obligation to check and verify the
settlement details prior to digitally signing documents; and reminding
conveyancers of their obligations with regard to their internal IT system
security and integrity.
(2) Two incidents have occurred
nationally and zero in Western Australia.
(3) Yes.
Vulnerabilities within conveyancer systems were considered; however, a conveyancer
digitally signing the settlement payment schedule without verifying the payment
details was not.
(4) Yes. Further,
Landgate has approved two new entities to become electronic conveyancing
platform providers—electronic lodgement network operators—in Western
Australia.
(5) No.