Secure the digital keys to your business: the top 6 cyber security threats targeting your property business.
While the digital world offers opportunities for the property sector to innovate and grow, it also brings constantly evolving risks of cyber hacks and scams. To protect your business, it’s crucial to be aware of these changing threats, and learn how to help combat them.
Here are six things to watch out for and what you can do to help safeguard your operations.
1. Weak processes and passwords
Threat: Hackers exploit poor processes and weak passwords to access valuable business and client information, such as bank account details.
What to do:
- Use multi-factor authentication for all accounts.
- Set apps, plug-ins, and browsers to auto-update.
- Regularly shut down and restart devices to install updates.
- Upgrade passwords to longer passphrases and ensure each account has a unique passphrase.
- Use a password manager to store passwords securely.
2. Scams during busy times
Threat: Scammers target businesses during busy periods, creating a sense of urgency to manipulate decisions.
What to do:
- Be cautious of immediate action requests; revisit them when you have more time.
- Stick to usual banking and payment processes.
- Look for red flags such as odd email addresses, unusual requests, and unexpected invoices.
- Be alert to urgent requests for fund transfers.
3. Fake invoices and bank transfers
Threat: Cyber criminals send fake or manipulated invoices or bank transfer details to defraud businesses.
What to do:
- Double-check every invoice against previous ones.
- Verify the legitimacy of business and bank details.
- Check email links before clicking; avoid clicking links in text messages or social media unless certain they are from a legitimate source.
- Do not open unusual files or photos, as they may contain viruses or phishing attempts.
4. Unauthorised access to devices
Threat: Scammers attempt to access your computers, phones, and old devices.
What to do:
- Trust only verified suppliers for tech support.
- Never give sensitive details to unverified providers or allow unexpected remote access to devices.
- Perform factory resets on old devices before disposal.
5. Website vulnerabilities
Threat: Hackers exploit website weaknesses to access sensitive information.
What to do:
- Ensure your website uses HTTPS for secure data transfer.
- Set up auto-renewal for your domain name.
- Use strong passwords, password managers, and multi-factor authentication for all staff.
- Regularly update content management systems and plugins.
- Back up your website regularly.
- Discuss security updates with external parties managing your website.
6. Targeting staff and family
Threat: Scammers target staff and family to break into your business.
What to do:
- Educate family members and workers about the risks of cyber attacks.
- Encourage double-checking suspicious activities and verifying invoice details with trusted contacts.
- Empower workers to question and confirm unexpected payment requests.
By staying vigilant and implementing these practices, property businesses can better help protect themselves from cyber threats and help keep their digital operations and data secure.
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