red baron wrote on Jun 27
th, 2018 at 1:16pm:
As reported on A Current Affair Last night (26.6.18)
A couple lost $256,000 during a conveyancing process in the sale of their home
The process was carried out by PEXA a property exchange company used exclusively now for exchanging contracts and disbursement of funds, a third party, i.e. a computer hacker cracked into the process between the Conveyancer and Pexa. They diverted the $256,000 earmarked for the sellers to their own account. Apparently the hacker was untraceable
This happened using PEXA's computer software. PEXA stiffed the sellers and tried to offload blame on the seller's conveyancer, yet the conveyancer was forced to use PEXA which now has a monopoly on property exchanges in New South Wales
PEXA has also moved into Qld and Victoria
Here comes the kicker. This whole scenario was allowed to occur because NSW Premier sold off the Lands and Titles Office for 2 Billion plus dollars
The States that have signed up for this crap, are up to their armpits with PEXA
So...if you are selling a house it is like rolling the dice whether or not some hacker is going rip off your funds from the sale before they drop in your account..Great stuff huh? More like a GREAT STUFF UP!
ACA reported that this is not the first instance of this happening. On May 17..$700,000 was ripped of in a sale and on May 31 a million dollars was ripped off
Welcome to Gladys Berejiklian's world which is a land littered with landmines
And....good luck if you are selling a house
Completely, utterly incorrect.
PEXA has nothing to do with the Land Titles Office selloff in NSW. It's a national system for starters.
And in fact, it was a
LABOR state - Victoria, that was the first to mandate the use of PEXA
Furthermore PEXA wasn't hacked. The conveyancer was hacked via emails, and the hackers then used this to gain access to their PEXA account (in much the same way hackers could use email to gain access to your credit card or bank account).
Yes, there is a risk in having online transfers of large sums of money like this. The problem needs solving.
But to claim this is part of some problem caused by Gladys Berejiklian when the
Victorian conveyancer in this
Victorian property sale was hacked against a background where the
Victorian government is looking to sell the
Victorian land titles office is just stupid.