Cyber Attacks Threaten Real Estate

One might think that the commercial real estate industry is not susceptible to cyber attacks, but that’s not necessarily the case.

According to panelists at a recent National Association of Realtors (NAR) meeting in San Diego, small real estate firms, brokers and their clients could very well be in danger of such attacks. Furthermore, small businesses are reportedly just as likely as larger companies to fall victim to online threats.

NAR Attorney Jessica Edgerton pointed out that one big scam plaguing the real estate industry is the practice of hacking into a broker’s email and obtaining confidential transaction information. To protect oneself from such scams, firms should research cloud services for security and clients should immediately contact one’s broker if they receive an email concerning wired funds.