Cybersecurity risks are a fact of life for all organizations regardless of size or sector. Typically, organizations with large budgets and high transaction volumes are able to make significant investments in cybersecurity resources – that is, the people, process and technology that work together to identify, mitigate and respond to threats. Real estate companies do not often have the luxury of such investments. They face a unique challenge in that they have relatively small staffs managing high-volume, high-value financial transactions. This creates an ideal set of conditions for cybercriminals to act.
The recommended framework is applicable to organizations in all industries. However, the combination of high financial stakes, limited staffing resources and rapid pace of activity make real estate organizations particularly attractive targets of cybercriminals. A carefully planned cybersecurity management program can provide the necessary framework for continuous monitoring and response in real estate.