Community home
Menu
  • PEXA Certified Expand

    PEXA Certified

    This program will give you an introduction to PEXA, how it works and how it can help you transform your business processes.

    Discover More
    • Getting Business Ready
    • System Set Up
    • Transacting in PEXA
  • Help Centre Expand

    Help Centre

    Here you’ll find more than 230 help articles and videos to assist you.

    Discover More
    • Help Articles
    • Help Videos/PEXA TV
    • PEXA Interactive Demos
    • FAQs
    • Ask a Question
    • PEXA Certified
  • Ask a Question
  • Share your Experience
  • Raise an Idea
  • Blogs Expand

    Read the latest in our blogs.

    Keep up to date with the latest PEXA product releases, and read up on the property blog.

    Discover more
    • Community Blog
    • The Property Blog
    • Security Updates
    • PEXA Product Releases
    • Announcements | Outages etc
    • The Bank Blog
    • Workspaces
      Community
      Register
      Log in
    Apps menu
  • Register / Login

Community Home
Register / Login

What happens if someone tries to fraudulently use the paper title

cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
  • Community
  • :
  • Join the Discussion
  • :
  • Ask a question
  • :
  • What happens if someone tries to fraudulently use ...

What happens if someone tries to fraudulently use the paper title

SOLVED
Go to solution
Reply
Topic Options
  • Subscribe to RSS Feed
  • Mark Topic as New
  • Mark Topic as Read
  • Float this Topic for Current User
  • Bookmark
  • Subscribe
  • Printer Friendly Page
  • All forum topics
  • Previous Topic
  • Next Topic
adrianpapa
Community Manager adrianpapa Community Manager
Community Manager
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎29-06-2016 04:15 PM

on ‎29-06-2016 04:15 PM

What happens if someone tries to fraudulently use the paper title

What happens if someone tries to fraudulently use the paper title after it has been converted to electronic?

Solved! Go to Solution.

0 Likes
Reply
  • All forum topics
  • Previous Topic
  • Next Topic
1 ACCEPTED SOLUTION

Accepted Solutions
GeorgePolus
GeorgePolus Star Employee
Star Employee
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎10-07-2016 01:29 PM - last edited on ‎21-07-2016 10:12 AM by AnnaHardie

on ‎10-07-2016 01:29 PM - last edited on ‎21-07-2016 10:12 AM by AnnaHardie

Solution

Re: What happens if someone tries to fraudulently use the paper title

Hi Adrian

 

This is a great question and one which we at PEXA, in conjunction with ARNECC (e-conveyancing regulator) and  jurisdictional land registries have been working diligently to address.   I hope you will be pleased to hear that national e-conveyancing framework and PEXA have a number of very tight controls in place that make dealing with electronic land titles in PEXA at least as secure and in many instances more secure than via the paper channel.

 

What are some of these measures?

  • In all jurisdictions ARNECC regulated standards for VOI form the foundation for fraud mitigation.  But other measures are also in place.
  • In VIC and NSW only the Party named on title as the 'CT Controller' (VIC) or CoRD holder (NSW)  may Nominate an electronic title to a lodgement case (VIC) or Consent to a dealing (NSW) be it paper or electronic.  
  • PEXA has implemented controls which exceed those available in the paper channel.  In short PEXA offer superior protection to Financial Institutions as Mortgagees by enabling Financial Institutions to reserve former and alternate mortgagee names for their use only as well as restricting representation to none or only pre-identified PEXA representative subscribers. 
  • Unlike the paper channel, PEXA retains a detailed audit trail of all activity that occurs in a given workspace. 

PEXA, together with ARNECC and jurisdictional registrars continue to work diligently to ensure that electronic conveyancing provides equivalent, if not better, controls to mitigate against fraudulent activity.  

 

 

 

View solution in original post

4 Likes
Reply
2 REPLIES 2
Sam_Elder
Sam_Elder
Former PEXArian
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎30-06-2016 09:51 PM

on ‎30-06-2016 09:51 PM

Re: What happens if someone tries to fraudulently use the paper title

Hey Adrian,

 

From my expierence the VIC LTO will not accept the paper title to support a dealing after it has been converted to an electronic title. They destroy it on the spot!

2 Likes
Reply
GeorgePolus
GeorgePolus Star Employee
Star Employee
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎10-07-2016 01:29 PM - last edited on ‎21-07-2016 10:12 AM by AnnaHardie

on ‎10-07-2016 01:29 PM - last edited on ‎21-07-2016 10:12 AM by AnnaHardie

Solution

Re: What happens if someone tries to fraudulently use the paper title

Hi Adrian

 

This is a great question and one which we at PEXA, in conjunction with ARNECC (e-conveyancing regulator) and  jurisdictional land registries have been working diligently to address.   I hope you will be pleased to hear that national e-conveyancing framework and PEXA have a number of very tight controls in place that make dealing with electronic land titles in PEXA at least as secure and in many instances more secure than via the paper channel.

 

What are some of these measures?

  • In all jurisdictions ARNECC regulated standards for VOI form the foundation for fraud mitigation.  But other measures are also in place.
  • In VIC and NSW only the Party named on title as the 'CT Controller' (VIC) or CoRD holder (NSW)  may Nominate an electronic title to a lodgement case (VIC) or Consent to a dealing (NSW) be it paper or electronic.  
  • PEXA has implemented controls which exceed those available in the paper channel.  In short PEXA offer superior protection to Financial Institutions as Mortgagees by enabling Financial Institutions to reserve former and alternate mortgagee names for their use only as well as restricting representation to none or only pre-identified PEXA representative subscribers. 
  • Unlike the paper channel, PEXA retains a detailed audit trail of all activity that occurs in a given workspace. 

PEXA, together with ARNECC and jurisdictional registrars continue to work diligently to ensure that electronic conveyancing provides equivalent, if not better, controls to mitigate against fraudulent activity.  

 

 

 

View solution in original post

4 Likes
Reply
PEXA

|

Facebook Twitter LinkedIn
  • Support
  • Privacy Policy
  • Terms of Service