Cyber criminals increasingly targeting real estate transactions
With cyber breaches an ever-growing concern, the Real Estate Institute of Western Australia has engaged one of the country’s top experts on cybersecurity to speak at the REIWA Cyber Security Forum on Nov. 15.
REIWA has also signed a memorandum of understanding with Edith Cowan University (ECU) as part of a five-year partnership to support real estate agents and their clients in the management of cyber risk.
REIWA CEO Cath Hart said REIWA was the first real estate institute in Australia to sign such a memorandum.
“Now is a critical time for the real estate industry to be proactive in this space,” Hart said. “I am very proud that REIWA is leading the way in cybersecurity given that around 90% of real estate agents in WA are REIWA members.
“Recent breaches across all sectors reflect an increasing level of sophistication and the need for the business community to be vigilant around safeguarding data which is collected and protecting transactions with clients from potential interception,” she said.
Real estate transactions are increasingly being targeted by cybercriminals who are using the statewide housing shortage as an opportunity to take advantage of buyers, Hart said.
“Our partnership with ECU will allow us to support people involved in real estate transactions as they navigate the complexity of managing cyber risk,” she said.
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Andrew Woodward, ECU executive dean of the School of Science and Interim Director of the ECU Security Research Institute, will deliver a keynote address and participate in an expert panel at REIWA’s Nov. 15 cybersecurity forum.
“The forum will provide agents and the public with important information on the issues that arise from breaches of security or data, how to prevent and manage breaches and reduce cyber risk to their business,” Hart said.
“The Security Research Institute at ECU has a significant focus on helping protect small and medium businesses,” Woodward said. “Cybercrime in the real estate sector has significant negative outcomes for businesses and consumers, and ECU is proud to be working with REIWA to help prevent these attacks.”
Other speakers at the panel will include Clinton Byrne, specialised banking executive at NAB; Ches Rafferty, CEO of Scantek; and Kylie Dillon, co-founder and CEO of Realtime Conveyancer.
