Pay with complete peace of mind
With cybercrime on the increase globally, the team at Snymans is increasingly aware of the importance of safeguarding both our clients and our business against cyber criminals when it comes to making and receiving electronic payments. In fact, phishing crimes have become such a cause for concern in South Africa that the Legal Practitioners’ Fidelity Fund has declared that it will not make good on insurance claims arising from these types of crimes.
With many conveyancing firms having been exposed to cybercrimes, and a significant number having fallen victim to them, the financial team at Snymans has implemented several safety measures.
Awareness
Our email footer includes a cautionary notice that alerts our clients to the reality of the current situation:
“Please be aware that online fraud is unfortunately a reality. Snymans Inc will never send you an email advising of a change of your banking details and/or to pay into an alternate account. Any such email is an attempt to defraud you by inducing you to make payment to a fraudulent bank account. Please be vigilant about online fraud and contact us immediately should you receive such an email.”
Communication
We contact our clients when payments are due to telephonically verify the account number that has been provided in writing along with their proof of bank account. While we appreciate that this is a tedious and sometimes frustrating exercise, the consequences of paying funds to a criminal are far worse and cannot always be remedied without damage and loss.
We have also put the following Public Recipient Guideline together to help you navigate the payment process easily and safely.
New banking platform
Finally, we have recently transferred to a public banking platform that has been designed to drastically diminish the possibility of cybercrime.
As with any new process, there are likely to be some growing pains and we ask that you please bear with us. Should you have any further questions, do not hesitate to contact us. And remember: when in doubt, ask Snymans – we’re here to help!
Written by Wessel de Kock
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