Real Estate Industry at Risk of Data Security Breaches

Opt-in to Cyber Safety. Multiple layers of protection for your devices, online privacy and more.

(Illustration by Real Deal)

In In 2018, the company that manages Brooklyn condos, home to cybersecurity expert Roman Sannikov, was hacked.

The hacker locked down the real estate manager’s IT system and demanded that the company pay the ransom and come back. Sannikov, who leads a team of analysts scrutinizing the dark web for information about cybercrime and hacking, was not personally affected by the breach. He pays the maintenance fee in the traditional way: by check. However, as a member of the condominium board, he had to inform the residents and fight the aftermath.

Still, Sanikov noticed that many of his neighbors were simply shrugging the news. “People weren’t paying attention [it] As long as they should have, “he said.

A similar situation has been rolled out on a larger scale following last month. Data breache In Douglas Elliman’s Asset Management Department. The company detected a breach in early April and notified residents and employees of 390 properties that personal and financial information may have been disclosed. Thousands of New Yorkers, many of whom live in luxury condominiums and white-gloved co-operative buildings, can put their data at risk.

But since the breach was revealed A little anger Or concerns publicly expressed by those who may have been affected.

Sanikov is as amazed at the reaction as when his building was targeted. Since then, attacks have become more dangerous and wealthy real estate residents managed by Eliman’s company face higher risks.

“Violation is often not the end of malicious activity,” Sanikov said. “That’s just the beginning.”

What is at stake

In April, over 500 million Facebook users hacked their date of birth, phone number, employer information, and location. This is the latest in a long list of large data breaches that often occur years before the affected parties are notified.

Example: 3 billion Yahoo users disclosed their personal information for a 2014 breach, but the company only admitted it two years later. The scope of the case was not completely known until 2017. That same year, hackers allegedly came from the Chinese military and stole information from Equifax, one of America’s largest credit…