Olly Thornton-Berry of Thirdfort offers his thoughts on how new standards for checking digital ID will save conveyancers and their clients time and provide vital protection against fraud.
Back in November, HM Land Registry unveiled a draft set of requirements to encourage digital identity checks in the conveyancing process and provide a ‘Safe Harbour’ for those law firms who use a digital ID provider that meets the Safe Harbour standard.
Those conveyancers who do use an ID provider which meets the standard won’t be pursued by HM Land Registry in any recourse claim against a conveyancer resulting from the registration of a fraudulent transaction, on the grounds that identity checks were inadequate.
It’s an important and timely development and, ultimately, good news for conveyancing. HM Land Registry carries enormous influence and this step will help give clarity to law firms, whilst helping to drive the industry towards a clear framework for using digital ID.
So what changes is HM Land Registry proposing and why?
Read more on Mortgage Finance Gazette.
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