According to a recent information session from National Association of REALTORS® Associate Counsel Jessica Edgerton, the only way business owners can be 100 percent protected from cybercrime is to shut down their computer, bury it in the backyard and set it on fire. However, as more and more real estate transactions take place online and through email, it has become even more important for real estate professionals to implement best practices to stay cybersecure.
NAR recommends that real estate professionals always take preventative measures, especially when it comes to wiring transactions, such as communicating with clients before a transaction about the possible dangers of wiring funds, to call the intended recipients of wired funds before sending them and to always independently verify phone numbers associated with a wiring transaction. In addition, something as simple as securing accounts with strong passwords can help keep hackers at bay; never use ‘password’ as a password!
Watch NAR’s video session title “Cybercrime and Cyber Security” for more information on how business owners can secure their data online. Speak with someone who dealt with wire fraud during the home buying process about his or her experience. Contact NAR for information on how REALTORS® are constantly educating themselves on the best practices for protecting client information.