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Cyber Crime Special Update to Conveyancing Ts and Cs

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Following the recent cyber incident, the Law Society has issued guidance for conveyancing firms highlighting the need to prepare for such an attack before their next professional indemnity insurance (PII) renewal.

One question they urge firms to consider is "do your terms of business make clear your liabilities to clients if the firm is subject to a cyber-attack?"

Lexsure's recent updates to the Terms and Conditions database deal specifically with Cyber Crime. The updates include the following optional precedent text: 

Cyber Risk - Management of Information

Sets out various measures that the firm employs to counter cyber crime, including providing bank details in a branded PDF, conducting phone verifications for new clients or changing instructions. This is fairly detailed but helpful wording to protect the firm and client.

Guarding Against Cyber Crime

Ts and Cs wording warning against cyber fraud. Prohibits the exchange of bank details for online transfers via email, emphasises verification through alternative means like telephone, and disclaims liability for losses if clients solely rely on email-provided bank details for transfers.

Cyber Crime - Limitation of Liability

Draft provision relating to losses incurred by clients due to cybercrime methods like vishing, spoofing, phishing, or malware, emphasising a preference for secure communication channels.

Return of Funds to You - Cyber Crime

Suggested wording outlining heightened security checks for electronic transfers to mitigate the risk of cyber fraud, ensuring the safe delivery of funds to clients.

Cyber Crime Alert

Addresses cyber fraud risks whereby the law firm underscores the permanence of its bank account details during transactions and advises clients to exercise caution with email correspondence.

Lexsure’s T&C's Notifications Service allows you to receive updates with the latest paragraphs for you to include in your main Terms. A simple and cost effective way to ensure your Terms and Conditions are up to date.



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