CRE among most vulnerable industries for cyber breaches

November 30, 2018

NEW YORK CITY, NY/PRINCETON, NJ — Cyber fraud in commercial real estate not only exists but is thriving despite continuous efforts to minimize such risks, according to the professionals in WithumSmith+Brown (Withum) PC’s Cyber and Information Security advisory group. Cybersecurity and ransomware attacks have become more amplified industry-wide, rendering commercial real estate one the fastest-growing targets for cyber attacks.
“Commercial real estate has an over-abundance of the two things cybercriminals are after – information and money,” explained Joe Riccie, partner, market leader of the Cyber and Information Security Services Group who recently served as a panelist at a real estate industry conference for chief financial officers. “In commercial real estate transactions, there is a lot at stake, which is why this industry and all those involved in it have become even more vulnerable to cybercrimes.”

 

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