One of the few downsides of technology transforming the world is the advent of cyberattacks. The Condo management industry is not left out, as most Condo management businesses are in the early stages of automating their processes, securing their network, and prioritizing cyber safety.
What is a cyber-attack?
A cyber-attack is a targeted series of malicious efforts by cybercriminals to break into the security fortresses of organizations and individuals, intending to perpetrate fraud or other criminal actions. While cyber-attacks on small businesses may not make the news, they are increasingly targeted, often culminating into their demise within six months of such attacks.
What cyber-attacks should you be wary of?
As a Condo management company embracing technology in 2020, you should be aware of and vigilant against the following expressions of cyber-attacks among others;
Data Breaches
The real estate industry by its very nature seats on a goldmine of quality data. For condos catering to the residential living of influential people, the data breach risk is even higher. A data breach is an attack targeted at exposing or retrieving personal information given to organizations in confidence for agreed purposes only. This includes social security numbers, credit card and bank details, health biodata, email addresses and passwords, among others. Protecting the integrity of the data in your care is very important as sensitive data in the wrong hands always results in a catastrophe.
Phishing
Call it corporate impersonation and you may not be wrong, phishing is a cyber-attack that seeks to make individuals willingly surrender sensitive information by impersonating familiar institutions such as their banks or places of employment. A relatable example of phishing is a cyber thief disguising as a representative of a property management company to get residents to share access information and personal details via mail. Hackers often rely on compromised links and attachments to perpetrate their crimes.
Vishing
Vishing is like phishing, except that it’s done with voicemail. The bait is often a voicemail message attached to a mail. Victims only have to click to listen to such voicemails for their security to be compromised.
Has COVID 19 affected cyber-attacks?
As technology advances and global occurrences like COVID 19 force people to explore virtual living and embrace e-commerce, barriers of distance and time are reduced. People are also tuned to their digital devices more than ever, in search of the latest information or just trying to keep their business afloat. With this comes a rise of well-orchestrated cyber-attacks, executed at every level. From cloning self-test sites to creating fake relief crowdsourcing sites, scammers and hackers are consistently devising believable ways to target unsuspecting individuals and businesses.
How can you safeguard your Condo?
Secure your network
Your technology network must be designed to quickly flag inconsistencies, detect threats, communicate with other computers on the network and enable collaboration. Our unique network design matches your needs, providing ultimate security at an affordable cost.
Caution on the cloud
The cloud has made data storage immensely easier, eradicating storage problems and simplifying accessibility. It could, however, also be a trap. Our cloud services provide ready-to-go, tailored cloud solutions and personal support to safeguard your organization.
Educate your stakeholders
From residents to staff and investors, ensure everyone in your value chain is aware of cybersecurity risk factors and equipped to identify them and mitigate against them.
Update passwords and access controls
Passwords to computers, access controls and IT infrastructure should not be easy to guess or decipher. They should also be protected and updated as often as possible.
Update systems regularly
Technology service providers are aware of and consistently fortifying their systems against cybercrime. Installing available updates is a great way to beef up your security.
Looking to optimize your network security? Talk to us. Explore our Condo Security software here or call 647 367 2277.