When we first coined the "democratization of cyber-risk" in 2012, we explained the phenomenon as a top-down process. Cybercrime started at the top: very large organizations like governments, militaries, and mega-corporations have been under attack for decades. Then, in the early 2000's, the risk began its migration down stream to medium sized organizations, and by 2010 small businesses on POS systems had become the target of hackers from around the world. Now, as the migration from the top continues, high-net-worth individuals and families, professional practices, and most recently; Realtors® are experiencing striking losses with increasing frequency, and a clear view of the reality that is their "New Face of Risk."
Brad Deflin conducting a workshop for real estate sales professionals in Southern California, June 2016.
It's predictable - the migration of cyber risk will continue down stream to the very capillaries of the internet: individual users and their personal technology. In the meantime, this stage of the phenomenon hitting the real estate industry is meaningful because it foreshadows what is to come.
My realtor’s email was hacked and I’m out $2M: exec’s suitTwo factors drive the nature of all crime:
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Potential size of the score.
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Ease of successful perpetration.
Size of the Score - It's the Information Age, and information is the most valuable commodity on the planet today. Information becomes intrinsically more valuable with the more you have of it, so as the volume of electronic information explodes, so is its value. As a result, criminal syndicates are pursuing cyber crime with increased resources and sophistication.
Ease of Perpetration - All professional criminals ask themselves "Will I get caught?", "Is it worth the chance to me?", "Can I pull it off and not get hurt or killed in the process?" Cybercrime is the crime of choice because every answer favors it to all "traditional" crime.
Real Estate - A Case Study in the Evolution of Crime.
The Four Reasons Real Estate is a Target of Choice
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Valuable information.
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Handled on unprotected devices.
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Over unsecured networks.
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By unaware users.
You can read more about it here:
http://www.totaldigitalsecurity.com/blog/cyber-security-in-real-estate-sales
The outcome for the real estate industry is easily predicted: hackers will innovate and perfect their attacks on a property sales transaction to wring every easy dollar possible until the risk/reward equation changes and their resources are focused on something else.
The important point?
Three of the "The Four Reasons ..." that are listed above are easily and meaningfully reduced with protective technology. The fourth reason, "Unaware Users", is a different matter.
Cyber Security for Life
We approach all we do in cyber security from the individual's point of view. It's about their frame of mind, and building a developing sense for the reality of survival and success in the Digital Age.
"Awareness" is too light a word contrasted against the severity of the threats at hand. Our "Speaking, Training, and Workshop Services" aim to build an internal level of "Understanding" that builds over time, and with experience and observation becomes a compass that serves all their lives, personally and professionally.
Cybersecurity services for Real Estate Sales.
To learn more:
Contact us for Speaking, Training, and Workshop Services.