[PRESS RELEASE] Bond Property Lawyers and TrueVault Identity Manager Partner to Eradicate Identity Fraud in Property Settlements with "Gold Standard" Compliance
Announcement posted by Truevault 19 Aug 2026
SYDNEY, NSW - 12 August 2026 - Bond Property Lawyers today announced a first-of-its-kind partnership with Australian identity manager TrueVault. The collaboration seamlessly merges ARNECC, AUSTRAC AML, and privacy compliance to deliver a "gold standard" in property settlement security fundamentally binding the human to the transaction to eliminate the risks of impersonation and identity theft.
Property settlements are high-value targets for cybercriminals and fraudsters. According to the ACCC, the amount lost by Australians to property scams has surged to $43.2 million, with conveyancers and lawyers increasingly caught in the crosshairs of sophisticated payment redirection syndicates. Historically, traditional "know your client" methods have forced legal professionals to collect, hold, and manage vulnerable copies of physical identity documents, creating honeypots of data for hackers.
"With the implementation of AUSTRAC Tranche 2 laws hitting the property sector this July, conveyancers and agents are under immense regulatory pressure," said Martin Lazarevic, CEO of TrueVault Identity Manager. "The sector is seeing property fraud losses skyrocket past $43 million; the industry can no longer rely on outdated compliance methods that put both firms and buyers at risk."
Binding the Human to the Transaction
To completely eradicate impersonation fraud, the identity verification process must go beyond looking at a scanned passport.
Through this partnership, Bond Property Lawyers utilises the TrueVault Identity Manager technology, which issues a "TrueIdentity" credential. This technology guarantees the person authorising the settlement is exactly who they claim to be:
- Advanced Biometrics: TrueVault conducts rigorous identity proofing utilising biometric liveness checks and document verification against the domestic and international Government sources.
- Cryptographic Security: This process generates a cryptographically signed, reusable verifiable credential.
- Useless to Hackers: The credential released is unique to that specific interaction, time-bound, and person bound; if intercepted or stolen, it is useless to an attacker outside the authorised context.
The End of Risky Data Hoarding
A major breakthrough in this partnership is total data minimisation for legal practitioners.
- When verifying a client's identity for a settlement, Bond Property Lawyers does not receive or retain any underlying identity document images.
- TrueVault's architecture ensures a complete audit trail of what was verified, when and where for full regulatory compliance.
- By never holding the raw data, this process materially reduces privacy and cybersecurity risks, protecting clients from future data breaches.
Streamlining AUSTRAC AML Tranche 2 and ARNECC Compliance
As the legal and property sectors face stricter regulatory oversight, including tranche two of the Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws, robust record-keeping is non-negotiable.
The TrueIdentity credential provides a cryptographically secure, transaction-bound record that evidences identity verification, demonstrating compliance with these requirements without the firm needing to retain copies of the source documents.
By pioneering the use of verifiable credentials in property law, Bond Property Lawyers is delivering unparalleled peace of mind, ensuring that every settlement is legitimate, secure, and fully compliant.
About Bond Property Lawyers
Bond Property Lawyers is a premier legal firm specialising in secure, highly efficient property settlements. By integrating next-generation legal technology and strictly adhering to top-tier ARNECC and AUSTRAC compliance standards, Bond Property Lawyers provides Australians with a safe, modernised approach to buying and selling real estate. Visit www.bondc.com.au
About TrueVault Identity Manager
TrueVault Identity Manager is an Australian technology company pioneering the future of identity and data privacy. TrueVault empowers consumers to own and control their personal data while providing legal, property, and financial sectors with cryptographically secure, privacy-compliant identity verification solutions that eliminate the need to store sensitive documents. Visit www.truevault.com.au