T
he real estate industry has become an attractive target for cybercriminals as companies increasingly rely on digital tools. This shift has created new vulnerabilities that sophisticated hackers exploit to gain access to sensitive information.

    Real estate and construction accounting software stores valuable data, including financial records, project budgets, and client details. A successful breach can lead to costly losses, halted operations, and damaged trust among clients and partners. Protecting these systems is crucial for safeguarding a company's bottom line and reputation.

    A recent example of the risks involved occurred when cybersecurity firm Huntress discovered that users of Foundation Software were at risk of intrusion if they used default credentials. The hack was described as a 'brute force' attack, where hackers used automated tools to guess login information.

    The U.S. Cybersecurity and Infrastructure Agency has long warned against using default passwords, which are often publicly available in software documentation or online searches. Hackers easily exploit these vulnerabilities to gain unauthorized access to systems.

    Many companies overlook the critical step of changing default credentials, leaving them exposed to cyber threats. Default passwords can be found through simple web searches or by accessing a software's documentation. This creates an open door for hackers to exploit.

    Companies that fail to change default passwords risk compromised credentials and sensitive data theft. Hackers may use automated tools, social engineering tactics, or credential stuffing to gain access to systems. Once inside, they can view and steal financial records, payroll information, and client details.

    To enhance security, companies should enforce strict password policies requiring complex, unique passwords. However, many cybersecurity experts argue that passwords alone are no longer an effective solution due to their vulnerability to cyberattacks and user frustration.

    A growing trend is the adoption of 'passwordless' solutions like biometrics and one-time authorization codes (OTAC). Biometrics use unique biological and behavioral traits for identity verification, making them challenging to duplicate or forge. OTAC generates a code only once for each authorization attempt, sent to the user's verified device or application.

    Biometric authentication is increasingly popular but presents challenges, such as privacy concerns and accuracy issues. To mitigate these risks, companies can encrypt and store biometric data securely, use decentralized systems, and implement multi-factor authentication.

    Real estate firms can safeguard their software systems by understanding common threats and taking proactive steps. Changing default passwords is a crucial step, but moving to 'passwordless' solutions like biometrics can offer superior defense against hackers.