Ensuring the Safety of Confidential Real Estate Information
Real estate transactions increased in the middle of the pandemic after people took advantage of the lower interest rates offered by the US Federal Reserve. Many of these transactions used online payment portals since people were wary about going out due to the presence of the virus.
Online transactions make it convenient for people to make payments. But it also increases the risk of losing their information to cybercriminals. Even though the health crisis saw cybercriminals shifting their sights to big companies, home sellers should still protect their information when they perform real estate transactions online.
Here are some tips that property owners should consider to protect their information from cybercriminals
Limit Access to Confidential Information
The first thing that property sellers should do is limit access to sensitive information. If they have to share it with other people, they should emphasize keeping the information safe, especially if they store the information on a cloud. They should maintain strict security protocols to prevent a data breach.
Real estate companies should also limit the number of people who can access their system. With this, they can monitor the people who accessed the system. They should also require employees to use strong passwords for their accounts to access the system. Using a password manager to store and manage their passwords. Additionally, implementing a multi-factor authentication system increases the security of their accounts and reduces the threat of unauthorized access.
Secure All Devices
Property owners and real estate professionals should also make sure to secure all their devices. This is particularly important if they use multiple devices to access the system to store all confidential information.
They should also consider using biometric authentication tools to increase the security of their devices. These tools use the physical characteristics of the user as a key before anyone can open a device. These physical characteristics include a fingerprint or facial features. Combining these physical characteristics with a password is also recommended for added security.
Property owners and real estate professionals should also download apps used for selling property that are created by reliable companies. These companies should commit to the protection of the information of their clients. They should also implement measures to protect the information from unauthorized use.
Watch Out for Phishing Emails
Phishing attacks have increased in recent decades, and cybercriminals are taking advantage of the current situation to target employees who are working from home. A phishing attack is a practice of sending fake emails to individuals to steal sensitive information. Cybercriminals make the email appear to originate from a legitimate source, such as a bank or government office.
Recipients who log into their accounts using phishing emails will share sensitive information with cybercriminals. So, real estate stakeholders need to be aware of this practice. With phishing emails becoming more sophisticated, it is challenging to differentiate them from legitimate emails.
To spot a phishing email, people should check the grammar and spelling of the text on the email. They should also avoid logging into their accounts through the links on the email. If they are in doubt, they should contact their banks when they receive these emails.
Banks and financial institutions do not ask people to share sensitive information through emails. So, when real estate stakeholders receive these emails, they should be wary and get in touch with their banks before doing anything.
Install Reliable Antivirus Software
Property owners and real estate professionals should also install reliable antivirus software on their computers to detect and eliminate malware. While free antivirus software is available in the market, investing in paid software is a good idea since they provide better protection than the free versions. Paid software also offers more features compared to free versions, which increases the security of their computers.
They should also enable the firewalls on their computers to stop cybercriminals from exploiting vulnerabilities in their systems. Firewalls protect systems from cyber attacks by shielding the computer from unnecessary online traffic. They also stop malicious software from gaining access to the network. Additionally, users can configure firewalls to stop data that come from specific locations and applications.
Users should also make sure to update their antivirus software regularly. With new viruses coming out every day, people need to protect their networks. And the best way to do this is to ensure regular updates to antivirus software. The software needs files to allow them to identify and stop different viruses. So, whenever users see an update notification, they should not ignore them.
As the number of real estate transactions increases, real estate stakeholders should work hard to prevent unauthorized access to confidential information.