Ransomware attacks have become a significant threat to the real estate industry, causing widespread disruptions and financial losses. A recent attack on California-based data services company Rapattoni resulted in a system outage disrupting property listings nationwide. This attack affected approximately 8,200 users of the Bay Area Real Estate Information Service (BAREIS) and other MLSes, preventing real estate agents from listing or updating property information.
The financial strain on real estate professionals is substantial, as even a few days of listing inactivity can lead to significant losses. In 2022, 73% of organizations reported at least one successful ransomware attack, with 38% facing two or more attacks. Implementing strong cybersecurity measures, including employee training, regular data backups, and advanced protection tools, is crucial for enhancing resilience against ransomware threats.
View the latest ransomware attacks on the Real Estate industry:
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