Source: New technology offers industry solutions to cyber security headache

Summary:

As the real estate sector boasts one of Australia’s largest data sets, thelawstore.com.au’s Livesign product aims to ensure data protection and mitigate cyber threats.

thelawstore is head up by CEO Lara Paholski in Brisbane.

Estimates for last year suggest there were almost 598,000 house and unit sales across Australia. For every sale, two or more documents per vendor are sighted and stored, which means that in 2021, more than 2 million documents were collected by agents. If the security of this data were to be circumvented, the results would be catastrophic.

Livesign is intended to remove the industry’s need to store high volumes of sensitive customer data. Functionality includes processing 100 points of ID via the vendor’s smartphone, checking ID against relevant government databases, providing agents with an identity certification with the details of the transaction recorded, securely storing the signed Authority and ID details, and redacting personal information when the process is complete.

Critically, the platform eliminates the need for vendors to hand over copies of their photo ID.

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