Real Estate
Securing Property and Data:
Defending Real Estate Ventures Against Digital Threats in the Industry
Cyberattacks in the
real estate on the rise
The dynamics of cyber threats have long been underestimated, as the real estate industry rather prefers to focus on the traditional way that it uses physical security measures.
​
Additionally, we can’t ignore the fact that the real estate industry is no longer safe from cyberattacks which underlines the need for this industry to address the issue of cyber risks and cybersecurity comprehensively.
Number 2
Most targeted industry for email fraud attacks
$200+ Million
Losses due to real estate fraud in 2019
11000+
Victims of real estate fraud in 2019
$3.6 Million
The average cost of the data breach
Frequently Asked Questions
FAQs on Cybersecurity Safeguards in the Real Estate Industry
What are the common cybersecurity threats faced by the real estate industry? The real estate industry commonly faces cybersecurity threats such as phishing attacks, ransomware, data breaches, and malware infections. These threats can compromise sensitive client information and disrupt operations.
How can real estate companies protect against phishing attacks? Real estate companies can protect against phishing attacks by implementing robust email security protocols, conducting regular employee training on identifying phishing attempts and utilizing advanced spam filters to detect and block malicious emails.
What role does encryption play in securing real estate transactions? Encryption is crucial in securing real estate transactions by converting sensitive data into unreadable code, which can only be deciphered by authorized parties. This ensures that confidential information, such as financial details and personal data, remains protected from unauthorized access.
How can real estate firms ensure compliance with data protection regulations? Real estate firms can ensure compliance with data protection regulations by adopting comprehensive data governance policies, regularly auditing their cybersecurity practices, and staying updated on relevant laws such as GDPR and CCPA. Implementing measures like data encryption and secure data storage also helps maintain compliance.
What is the significance of multi-factor authentication (MFA) in real estate cybersecurity? Multi-factor authentication (MFA) significantly enhances real estate cybersecurity by requiring multiple forms of verification before granting access to systems and data. This reduces the risk of unauthorized access, even if one authentication method is compromised.
How can real estate companies respond to a cybersecurity breach? In the event of a cybersecurity breach, real estate companies should follow an incident response plan that includes steps such as isolating affected systems, notifying relevant stakeholders, conducting a thorough investigation, and implementing measures to prevent future breaches. Prompt action and communication are key to mitigating damage.
Why is it important for real estate firms to conduct regular cybersecurity assessments? Regular cybersecurity assessments are important for real estate firms to identify vulnerabilities, assess the effectiveness of their security measures, and stay ahead of emerging threats. These assessments help ensure that cybersecurity practices are up-to-date and effective in protecting sensitive information.
