“Our industry is squarely in the sites of cybercriminals,” says N.A.R.’s Associate Counsel Jessica Edgerton (see video below). About 50% of small to mid-size businesses reported a cyber attack in 2016, she adds, and the US National Cyber Security Alliance reports that about 60% of small businesses go out of business within 6 months of being victimized by cyber crime.
We are pleased to welcome FBI Supervisory Special Agent Michael Sohn to Real Estate REvive Conference & Expo on March 30, 2017. Sohn currently leads a squad at the FBI Los Angeles Field Division responsible for investigating computer and high-technology crimes involving national security matters.
His investigative experience includes cyber terrorism as well as state-sponsored and criminal cyber intrusion matters. Prior to the FBI, Sohn worked as a Cyber Counterintelligence Officer for the Department of the Army, a Counter Terrorism officer for the Defense Intelligence Agency, a consultant at Booz Allen Hamilton and a U.S. Army Officer.
Wire fraud is among the biggest problems for real estate professionals. A hacker gets into the email account of someone involved in a transaction, gathers enough information to create an accurate-sounding email that defrauds a buyer by emailing instructions to send funds to a fraudulent account.
One good way to prevent this type of fraud is to let all involved in the transaction know that the problem exists and take steps to avoid it–such as calling a known participant to confirm before wiring money.
Watch the video for more details and preventative steps, and come to REvive 2017 to hear more from the expert himself–the FBI has been able to retrieve funds in certain cases! See more about the event at: www.realestaterevive.com.