Data breaches and account hacks are on the rise in Canada, and realtors, who rely heavily on digital platforms and handle significant financial information, can be particularly vulnerable. When news breaks about taxpayer accounts being compromised, it serves as a reminder for real estate agents and brokers to review their security practices and take protective steps. This guide will walk you through how to protect your information and secure your business and client data.
Why Are Realtors Especially at Risk?
As realtors, you’re constantly on the go, logging into multiple platforms on various devices, handling sensitive financial information, and dealing with high-value transactions. This can make your accounts attractive to cybercriminals looking for valuable data or financial access. When breaches affect taxpayer accounts, any agent’s data—ranging from banking information to social insurance numbers—could be exposed, increasing the risk of identity theft, financial fraud, and reputation damage.
Steps to Protect Your Accounts and Data
Even if your accounts haven’t been directly compromised, a proactive approach can help ensure your personal and business information stays safe.
1. Change Passwords on All Government-Related Accounts
If there’s any hint of a data breach, start by changing your passwords on key accounts:
- CRA My Account: Use a unique, strong password for your Canada Revenue Agency (CRA) account.
- Provincial Real Estate Registries: Update login details for any government-related platforms you use for your real estate business.
- Personal and Business Email: Email accounts are often the key to recovering access to various other accounts, so change passwords here as well.
For password strength, aim for a mix of letters, numbers, and symbols, and avoid using common words or names.
2. Implement Two-Factor Authentication (2FA)
Two-factor authentication (2FA) adds an extra layer of protection by requiring a second form of identification beyond just a password. Many government platforms, banking services, and real estate tools now offer this feature. Enabling 2FA can make it significantly harder for cybercriminals to access your accounts, as they would also need access to your phone or email to get in.
3. Regularly Monitor Your CRA and Banking Accounts
Make it a habit to regularly log in and review your CRA account, as well as your business and personal bank accounts, for any unusual activity. Look for things like:
- Unauthorized changes to account information.
- Suspicious tax filings or requests.
- Unrecognized transactions in your bank accounts.
If you spot anything suspicious, report it immediately to your financial institution or CRA.
4. Be Cautious with Emails and Links from Unknown Sources
Phishing is one of the most common methods hackers use to steal sensitive information. Realtors, who frequently receive client emails and financial information, can be particularly vulnerable to this tactic. Here’s what you can do:
- Verify the Sender’s Address: Double-check that the email address is from a legitimate source. Fraudulent emails often have subtle spelling errors or odd domain names.
- Avoid Clicking on Unfamiliar Links: When in doubt, don’t click on links in unsolicited emails. Instead, navigate to the website directly from your browser.
- Report Suspicious Messages: If you receive an email from what appears to be CRA or any financial institution asking for sensitive information, verify it by calling the official contact number.
5. Update Your Security Software on All Devices
Keeping your software up to date is one of the simplest yet most effective ways to prevent hacks. Cybercriminals often exploit vulnerabilities in outdated software, so make sure all your devices have the latest versions of operating systems, antivirus programs, and any business-related apps you use.
If you handle sensitive information on the go, consider investing in cybersecurity software that offers:
- Real-time protection against malware and viruses.
- Secure VPN options for added protection on public Wi-Fi networks.
- Browser security to help detect and block malicious websites.
6. Limit Use of Public Wi-Fi and Use a Secure Connection
Using public Wi-Fi without proper security exposes your data to potential hacking. If you need to work remotely or access business accounts on the go, here are some safer options:
- Use a VPN (Virtual Private Network): A VPN encrypts your internet connection, making it harder for hackers to access your data.
- Avoid Accessing Sensitive Accounts on Public Wi-Fi: Whenever possible, use a secure, private network instead of public Wi-Fi for accessing business and financial accounts.
For realtors who are often working remotely, investing in a reputable VPN can be a valuable safety measure.
7. Secure Client Information with Encrypted Storage Solutions
As a realtor, protecting your clients’ personal and financial information is critical. Cybercriminals often target agents’ files because they contain sensitive data like income history, personal identification numbers, and financial records.
- Use Encrypted Storage Services: Choose secure, encrypted cloud storage for storing sensitive client information.
- Limit Access to Essential Personnel: Only allow trusted, essential personnel access to sensitive information, whether in digital or paper form.
- Regularly Backup Files: Keeping backup files can prevent loss in case of a cyber attack, ensuring that your business can continue operating with minimal disruption.
8. Consider Professional Cybersecurity Solutions for Your Business
Cybersecurity is becoming more critical in real estate as the industry relies more on technology and digital platforms. Some real estate firms invest in cybersecurity firms or services to manage and protect their data professionally. This can be particularly valuable if you handle a large volume of transactions, maintain multiple online platforms, or are growing your team.
- Consult with a Cybersecurity Expert: They can help identify vulnerabilities specific to your business and offer tailored solutions.
- Invest in Cyber Insurance: Some insurance policies cover costs associated with data breaches, which can be a worthwhile safety net for a realtor’s business.
What to Do if You’ve Already Been Hacked
If you suspect your accounts have been compromised, here’s what to do:
- Immediately Change Your Passwords: Update all account passwords and enable two-factor authentication where possible.
- Alert the CRA and Financial Institutions: Notify the CRA and any banks or lenders involved to prevent unauthorized transactions.
- Monitor for Fraud: Be on the lookout for new credit inquiries, tax filings, or unfamiliar account activities.
- Consider Freezing Your Credit: If a data breach includes critical information like your Social Insurance Number, consider requesting a credit freeze through major credit bureaus to prevent fraud.
Key Takeaways
Data breaches are a reality in today’s digital age, and as a realtor, protecting your personal and client information is paramount. By staying proactive with password updates, 2FA, software updates, and secure browsing practices, you can keep your data safer. And remember, investing in cybersecurity solutions isn’t just about protecting your accounts—it’s also about protecting your reputation and client trust in an industry that relies on confidentiality.
