https://iframe.iono.fm/e/1530481″ width=”100%” height=”126″ frameborder=”0
You can also find this podcast on iono.fm here.
ADVERTISEMENT
CONTINUE READING BELOW
JEREMY MAGGS: South Africa’s deeds registry is experiencing a significant digital overhaul, aimed at improving efficiency and reducing fraudulent activities. However, as the real estate sector shifts online, issues surrounding access, security, and implementation naturally arise.
To explore this subject further, we are joined by Kagiso Mahlangu, a property law specialist from the law firm CMS. Kagiso, to begin with, could you highlight the main risks of fraud in property transactions, and how does digitalization seek to address these risks?
KAGISO MAHLANGU: Certainly, while technology serves as a powerful facilitator, it also brings about cyber threats and security challenges, especially in relation to property transactions and registrations conducted at the deeds registry office.
Given the sensitive nature of the data involved, it’s essential that as we shift towards a digital registration system, strong safeguards are put in place to protect that information.
A gradual approach is necessary, ensuring that all stakeholders in the deeds office follow best practices to secure the usage of the system.
Typically, with digitalization, strategies such as encryption and multifactor authentication can be utilized. Regular security audits are also crucial to prevent information breaches.
JEREMY MAGGS: As you mentioned, sensitive information is at risk. Has the Deeds Office provided any information about whether sufficient cybersecurity measures are being implemented to tackle the concerns you’ve raised?
KAGISO MAHLANGU: The amendment act …
It empowers the chief registrar of deeds to issue directives that will influence the implementation of security protocols.
At present, we are using digitized systems within the Deeds Office, enabling tracking of deeds and performing searches. However, the registrar’s directives will inform us of any additional measures to ensure the protection of such sensitive information.
JEREMY MAGGS: Progress towards digitalization is already evident. Have any obstacles emerged thus far?
KAGISO MAHLANGU: Challenges are to be expected. Occasionally, systems may go offline, which creates complications, given that registrations are vital for daily operations, impacting many individuals and corporations.
Though offline issues can create hurdles, they shouldn’t dissuade us from pursuing digitization.
JEREMY MAGGS: That’s a valid point, but there remains a concern that this system may not serve those without digital skills or reliable internet access. Is this concern being adequately addressed?
KAGISO MAHLANGU: Absolutely, and I think it’s critical that as we digitize, everyone—from average citizens to legal professionals—can effectively navigate the system without exclusion from the benefits of improved efficiency.
It’s essential to provide necessary training and ensure accessibility for attorneys and users dependent on it for registrations.
JEREMY MAGGS: To your knowledge, will this new system connect with the current land reform initiatives, or will they operate independently?
ADVERTISEMENT:
CONTINUE READING BELOW
KAGISO MAHLANGU: We cannot confirm this at present, as no directives have been issued on the subject yet. However, it would be fascinating and essential for the systems to interact, given the significance of land-related matters in South Africa.
JEREMY MAGGS: What about penalties concerning non-compliance with the new system? How is the legal sector responding?
KAGISO MAHLANGU: The legal community recognizes that a major issue is determining who will have access to the system. It is crucial to ensure that usage is restricted to authorized personnel only.
Penalties will be in place for unauthorized access attempts, including fines and potential imprisonment.
Consistent enforcement of such measures is vital, as the digitized registration process requires that only legitimate users access the system to minimize cybersecurity threats posed by unauthorized access.
JEREMY MAGGS: How will access eligibility be determined?
KAGISO MAHLANGU: Access will likely be limited to those managing registrations.
Currently, attorneys, notaries, and conveyancers are permitted to handle registrations, and access should be restricted to these professions.
Individuals seeking information from the deeds office will need to navigate the system, but it’s essential for professionals involved in registration processes to have granted access.
JEREMY MAGGS: Finally, what is the expected timeline for full implementation, and are there potential challenges that might delay it?
KAGISO MAHLANGU: The timeline is currently uncertain. The amendment act includes provisions for a transitional phase, indicating that while we await directives from the chief registrar, we will continue using the existing system.
This initiative is monumental; our registration processes are highly rigorous. Thus, confirming that all functional, technical, and operational standards are met is crucial—it’s not something to rush.
Although we lack a specific timeline, it’s vital for the chief registrar to advance so we can all anticipate this development.
JEREMY MAGGS: Thank you very much. That’s Kagiso Mahlangu, property law expert at CMS.
Follow Moneyweb’s comprehensive finance and business news on WhatsApp here.
