Is the real estate industry safe from cyberattacks?
There is a lot of cybercrime in the real estate industry. With so much personal, financial and other data from various customers, from buyers to sellers, from rental applicants to tenants to owners, there are billions of data points held in offices across the country and the world. With the massive amount of financial transactions that take place daily, you can understand why property businesses are a target for hackers, cryptocurrency scammers and more.
Applications take money from investors!
“The FBI has observed cyber criminals contacting US investors, fraudulently claiming to offer legitimate cryptocurrency investment services, and convincing investors to download fraudulent mobile apps, which the cyber criminals have used with increasing success over time to defraud the investors of their cryptocurrency,” the FBI said in an alert…
Blockchain could reduce the potential for fraud.
Blockchain creates transparency, enabling us to access more data on individual properties and homeowners. Likewise, blockchain technology can improve the efficiency of transactions and reduce paperwork by digitising and centralising data and information related to deeds, title records, and listing agreements. It allows us to create and sustain business agreements through smart contracts and automation.