Cyberattacks against UK property businesses have risen by 17% over the past year, according to figures cited by iamproperty, prompting fresh warnings for estate agents to strengthen their security.
The property technology firm has teamed up with cybersecurity specialist Cortida to issue guidance for agencies during Cybersecurity Awareness Month.
Agents are being urged to tighten password security, use multi-factor authentication (MFA), keep software updated and introduce procedures for verifying requests involving money or sensitive information.
The advice comes as agencies increasingly hold and exchange valuable personal and financial data throughout the property transaction.
PAYMENT FRAUD
Particular caution is being urged around emails apparently sent by senior colleagues, suppliers or clients requesting payments, passwords or changes to bank details.
Agents should independently verify such requests using a known telephone number or in person rather than relying on the contact details contained in the message.
Staff are also being encouraged to treat unexpected links and attachments cautiously and report suspicious activity quickly.
AGENT CONCERNS
Hayley Stafford (main picture, inset left), Chief Technology Officer at iamproperty, says: “We know that data and cybersecurity are some of agents’ biggest concerns.
“They’re facing growing pressures around trust, technology and consumer expectations, and it can be difficult to know where to start or what questions to ask.”
Research from iamproperty’s The real eSTATE of it report found 84% of agents consider data, cybersecurity and compliance among the most important factors when choosing technology partners.
Andy Compton (main picture, inset right), Chief Executive Officer at Cortida, adds: “Estate agencies handle some of the most sensitive information in the transaction chain and can be attractive targets to cybercriminals.
“The risks are real, so taking positive steps to understand the basics, ask the right questions and have the right policies and training in place is essential.”
