Property transactions involve the exchange of highly sensitive information, significant sums of money and coordination between multiple parties. For property professionals, that makes security an essential part of every step – not simply something to consider on settlement day.
Security is built into the work behind settlement
A smooth settlement may appear straightforward to the customer, but property professionals know how much happens behind the scenes.
There are documents to prepare, details to confirm, tasks to complete and parties to coordinate. Each step helps ensure everyone is ready when settlement day arrives.
The exchange of account information is one of the most sensitive parts of this process. Practitioners may need to obtain a client’s account details or provide trust account information, often while managing multiple matters and tight timeframes.
Embedding security into established workflows can help teams manage this risk consistently, rather than relying on informal or one-off checks. During Scams Awareness Week, PEXA recently shared how quickly scams are evolving, from payment redirection and impersonation to increasingly convincing AI-generated communications.
While awareness is critical, it must also be supported by secure processes, trusted technology and practical checks that help reduce risk before funds move.
Verification matters before money moves
Scammers often create urgency, impersonate trusted parties or attempt to replace legitimate account details. A message may appear familiar, but familiarity alone is not verification.
Before funds are transferred, customers should take the time to confirm payment instructions through a trusted channel. This can include checking account details against information held on file, following established verification procedures, and treating unexpected changes with caution. For example, agree on a safeword with your client at the start of the engagement to help verify any late changes to payment instructions.
For organisations, documenting these steps through checklists, file-management processes and clear internal responsibilities can help make secure behaviour repeatable.
The key message is simple, verification should happen before money moves, not after an issue has been identified.
A shared responsibility across the property ecosystem
Protecting a property transaction is not the responsibility of one participant alone. Across the broader property ecosystem, stronger outcomes come from combining:
- Secure technology and trusted communication channels
- Clear verification procedures
- Staff and customer education
- Caution around unexpected requests or changed account details
- A culture where pausing to check is encouraged
These measures support more than fraud prevention. They help build confidence among everyone involved in the transaction.
Unlocking moments that matter
Every property transaction is made up of important moments – secure property transactions depend on the actions taken well before settlement. By combining awareness, verification and trusted technology, the industry can help protect sensitive information, reduce the risk of funds being diverted and give participants greater confidence at every stage.
Because protecting property transactions starts with awareness and continues with the steps we take before money moves.
