Real Estate Warned Over Cyber Security

Real Estate Warned Over Cyber Security

The reality of cyber security is that the nature of threats will change continually. Like a giant game of whack-a-mole, when one threat has been tackled, the crooks will change tack and aim at a different target using new means of attack.

Among the industries that may not realise how this affects them is commercial real estate. For this reason, the Royal Institution of Chartered Surveyors (RICS) has sought to shed light on the threats and what the sector needs to do to respond.

Michael Savoie from CyberReady, one of the body’s technology partners, explained to RICS members some of the dangers that may be getting overlooked.

Mr Savoie said that when he and business partner Noëlle Brisson set up the firm, they noted real estate was an area where cyber security was “really lacking”. He said the key to cybersecurity is to be proactive, rather than reactive.

The expert advised that that it is important for whoever is in charge of risk management at a firm to work with cyber security experts to minimise risk and these should be one of the “key performance indicators”.

He added that the two key changing elements of the cyber threat to real estate comes from hackers becoming “more sophisticated”, while their threat is “broadening across the global market” with dangers that could come from anywhere in the world, all of which means “no-one is immune from hacking any more.”

Given this warning, firms may find using a Microsoft cloud solution provider can offer an effective way of providing comprehensive cover against what is now a global danger, putting protection in place before a threat emerges, rather than trying to limit the damage once it has struck.

Mr Savoie’s warning about the need for a proactive approach to cyber security has been echoed by Fabian Bigar, the CEO of Malaysian firm MyDIGITAL.

He warned in a cyber security webinar jointly run by the KSI Strategic Institute for Asia Pacific and Huawei that without this, countries that are rapidly digitising could suffer from falling public confidence in the security and reliability of such systems, news agency Bernama reported.

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