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terms of transactions and money. This includes the data The digital transformation that’s
from supply chain contractors, third-party services, and taking place in the real estate industry
tenants’ personal data. This data is now on a network,
and therein lies the potential exposure. Many companies and the incredible investment in digital
servicing the industry operate in an entrepreneurial products means that the profile of real
fashion, as contractors to large real estate organizations.
Service and speed are important, and people need to work estate is increasing as never before;
effectively—with all the access that entails. There must it is now creeping into one of the top
be a balance between security and efficiency, so that
employees can do their jobs while still staying secure. As areas for nefarious infiltration.
the industry standardizes security protocols, more third-
party entities will be subject to vendor security reviews.

On the asset side, the goal of a comprehensive user by attacks like these because the procedure is familiar—
experience is effectively changing the game. Capturing it’s not anything unusual.
and tracking data about the user experience in a building
creates information that’s never been electronically As time goes on, violations will become more creative. The
available before and is no longer under closed proprietary Schneier on Security blog recently posted an article about
systems. Consequently, there’s an uptick in focus by hacking construction cranes. Cranes now have the capability
the investment community about cybersecurity. This for remote wireless diagnostics. Can you imagine a crane in
is driving behavior within companies to examine their the hands of someone intent on doing harm?
security policies and programs.
Another existing possibility exploits a very common
Unanticipated events activity: parking. Imagine the location is a high-value
Today, 90% of compromises start with business email downtown Class A office building that contains building
and some kind of phishing attack, and they have become systems everyone uses. How are the tenants using those
quite sophisticated. These emails appear to be from systems and how are they connected? How are the
someone you know, asking for information or money. tenants accessing that building’s parking area? In some
They may have a signature block that looks exactly like cases, it’s a proprietary system using a badge, or perhaps
the one you are expecting. For example, a supplier who it reads your license plate. But in many buildings you
has completed a service ‘sends’ an email enclosing an enter using your toll tag. The property manager is given
invoice and new bank account or new wire instructions the toll tag number and vehicle information. As a tenant,
for payment. People develop habits that can be exploited it’s very convenient because there’s no need for a fob or

Considering the statistics, • Cybercrime damages will cost the world sensors will be embedded in the world
it’s not a question of ‘if’ a $6 trillion annually by 2021 around us, with up to 45 trillion in 20 years
small-to-midsized business • FBI’s Internet Crime Complaint Center (IC3) • Hacking tools and kits for cyberattacks,
will be hacked, but ‘when’ stated reported cybercrimes only represent identity theft, malware, ransomware,
10 to 12 percent of the total number and other nefarious purposes have price
actually committed in the U.S. each year points starting as low as $1
• FBI reports that the Business Email • More than 90 percent of successful hacks
Compromise (BEC), a sophisticated scam and data breaches stem from phishing
targeting both businesses and individuals scams
performing wire transfer payments—has
cost more than $12.5 billion in losses • More IP traffic will be created in 2022 than
over the past 4.5 years in the 32 years since the Internet started
• Less than half of companies globally are • Global spending on cybersecurity
sufficiently prepared for a cybersecurity products and services will exceed $1
attack, according to PwC trillion cumulatively over the five-year
period from 2017 to 2021
• Number of connected devices on the
Internet will exceed 50 billion by 2020. According to the Cisco/Cybersecurity Ventures
And by 2022, one trillion networked 2019 Cybersecurity

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RC19 EDGE Spring All but Covers - final - 19APR.indd 54 4/19/19 3:17 PM