During National Cyber security Awareness Month, ‘Do Your Part. #Becybersmart’

October is National Cyber security Awareness Month and during the month, the Real Estate Fraud Prevention Coalition is elevating public understanding of cyber security risks. This year’s theme is “Do Your Part. #Becybersmart.”

“Wire fraud is one of the fastest-growing cyber crimes in the U.S., and consumers need to understand the risks that exist within every real estate transaction,” said National Association of Realtors President Vince Malta. “As Realtors we have a critical role to play in educating and protecting both homebuyers and sellers.”

In 2019, the FBI’S Internet Crime Complaint Center received 467,361 complaints, an average of nearly 1,300 per day, recording more than $3.5 billion in total losses. Additionally, COVID-19 has created new global cyber security threats, with the number of fraudulent emails and text messages spiking by nearly 700 percent in the early days of the pandemic.

Various cyber threats pose specific risks to the real estate industry and its customers, including scams in which criminals posing as real estate or title agents send fraudulent emails instructing homebuyers to initiate wire transfers to illegitimate accounts. These scams, which often appear credible because of the specific, personal content contained in the email, have the potential to defraud homebuyers out of tens of thousands of dollars over the course of a transaction.

“Realtors always warn their clients when they wire money to the title agent, to call and verify with the title company that they have the correct destination,” said

Mary Kay Groth, president of the Silicon Valley Association of Realtors.

At a cyber crime prevention presentation on Realtor Safety Day, Dylan Green, IT specialist with the Monterey County Sheriff’s Department, told Realtors, “You are your biggest weakness and your biggest strength when it comes to cyber security. Technology is here to make us more efficient, make our lives easier, but if you’re not paying attention, it can work against you.”

Green said in today’s environment with virtual open houses, online meet ups, emails, money transfers, all which work around technology, consumers need to be careful. Green suggests the following tips to protect yourself from cyber crime:

1. Passwords are your big defense. Your passwords should be of sufficient length and complexity.

Make your password 15 characters long and easy for you to remember. Use unique passphrases.

2. Do not use the same password twice or across multiple websites, devices, or applications. Every login using that same password is vulnerable to hackers.

3. Use a password manager. Password managers store your passwords in an encrypted database locked behind a masterpassword.

4. Watch out for phishing. Do not open links in unfamiliar emails. To detect if a link is bogus, hover your mouse over the link to see where it intends to take you. If the URL is unfamiliar to you, do not click on it. Detection sites like urlscan. io, virustotal.com, urlvoid. com, isitphishing.org can help you verify if the link is malicious.

5. Watch out for attachments of documents, PDFS, voicemails, etc. in emails. They could have malware capable of destroying your data and stealing information. Install an email attachment scanner with antimalwareand virus protection so malicious emails do not get through to your inbox.

6. Protect your accounts with an extra layer of security like a twofactor authentication - username, password and a code, a retina scanner or face scanner.

If your account is attacked, change your password immediately before your attacker can knock you out. Notify your office IT or a point person who can help you. When you do, do not forward the attachment or email.

To learn more about protecting your data and information, especially when buying a home, visit https://stopwirefraud.org/ protect-your-money/