Attractive to Cyber Criminals
The real estate industry is an attractive target for cyber criminals due to the high frequency of transactions, market interconnectivity and regularity of information sharing. These risks are particularly ripe for eCrime attacks such as social engineering, funds transfer fraud, or fraudulent instruction.
Operational Disruptions
Increased reliance on technology leaves the real estate industry vulnerable to operational disruptions that not only cause significant revenue loss but can have a negative impact on reputation. A system outage may disrupt closings, listings, mortgage processing and title work. This exposure is amplified due to the time sensitive nature of real estate transactions
Sensitive Data and Financial Information Stored and Shared Online
Real estate operations involve the safeguarding and managing of customer financial assets in electronic form. If the proper protections are not in place, cyber criminals can access this data online for theft, ransom and financial gain.
How Beazley Security helped real estate clients get back in the game
For more on suggestions to reduce risk and our appetite for Real Estate firms, download the PDF.
Speak to your local Underwriter to see which of your clients can benefit from our Real Estate endorsement.