From a legal site...
Quote:"PEXA simplifies the settlement process by digitalising key components, eliminating the need for physical document exchanges and reducing the likelihood of delays caused by manual handling. Moreover, PEXA enhances the security of transactions, safeguarding sensitive information and funds through robust digital protocols".
And we all know just how "secure" and "robust" digital protocols
have been recently in Australia—with the massive hacking and
thefts of millions of individuals' personal data and prime identifiers
—don't we... not! (Much laughter ensues.)
EG: And this partial listing is from last year (2023) alone.
• myGov
• Australian Federal Police
• Alfred Health, Melbourne
• University of Wollongong
• ASIC
• American Express
• The Department for Child Protection Aboriginal Family Support Services
• Australian Signals Directorate
• Royal Women’s Hospital, Parkville
• Department of Veterans’ Affairs
• Medibank
• Optus
• PayPal
• Tasmanian Government, GoAnywhere
PEXA is simply yet
another weak link in the chain of the average
Aussie's security of personal, on-line data in the thousands of
vulnerable servers across the country.
How long will it be before PEXA is hacked?