Internet bankers be aware



Estate agents who make use of internet banking should make sure that their computers have effective anti-spying software, and that their insurance policies cover them against the risk of their business or trust accounts being raided by "ID thieves", says Bill Rawson, national president of the Institute of Estate Agents. Clients of two major banks - including an attorney - have recently lost money from their accounts because unauthorised hackers evidently used "spyware" to find out their passwords and PINs. "This is a frightening situation," says Rawson, "especially as the banks are reportedly not necessarily going to reimburse clients if the security breach was on their computer systems rather than on the banks'. Nor do insurance policies necessarily cover this kind of risk. "Estate agents hold buyers' and tenants' deposits in trust, and have to safeguard that money for as long as they have it which, in the case of a tenant, could be several years. If they lose any of it, they may have to make up the loss out of their own funds, and face possible disciplinary action by the Estate Agency Affairs Board into the bargain."