T
he real estate and construction industry faces unique cybersecurity challenges due to its complex ecosystem of players, including clients, contractors, and service providers. Despite a decline in reported data breaches across the middle market, this industry remains vulnerable to cybercrime.

    A major concern is the high volume of field-to-office communication and payment transactions, creating opportunities for social engineering, phishing attacks, and other scams. The industry's decentralized IT operations, global reach, and mobile workforce create a broader attack surface, making it difficult to secure systems and protect sensitive information.

    Many workers in the field connect to unsecured public networks, putting company and client data at risk. Employee awareness training is limited across the industry, and inadequate resources for training, technical support, and internal controls have led to a greater reliance on third-party providers for cybersecurity protection.

    The increasing number of connected devices, or Internet of Things (IoT), in real estate and construction operations creates new vulnerabilities. Industry leaders must focus on securing these devices and mitigating risks associated with social engineering and wire fraud. Companies doing business in multiple states must also adhere to data privacy and protection laws at the state and national level.

    To stay ahead of cybercriminals, real estate and construction firms should consider leveraging emerging cybersecurity technologies, such as cloud computing, artificial intelligence, and machine learning, to build robust cybersecurity programs. Consulting a cybersecurity advisor may be beneficial when navigating strategies to identify the right solutions for protecting sensitive data and financial interests.