20.05.2023
President of the Board of Registration of Real Estate Agents Marinos Kineiro this week urged all stakeholders in the industry to invest in cybersecurity measures so as not to endanger both their own business and the safety of their customers. Kineirou noted that the rapid development of technology has meant that the real estate sector is increasingly rushing to master the new tools available to it, which play a critical role in its operations, development and improvement of interaction with clients.
In this context, he explained, the Real Estate Agents Registration Board has undertaken projects and initiatives to improve communication with licensed agents, the public and within the board itself. However, along with the achievements, according to Kineiro , a parasitic ecosystem of criminal elements has emerged that poses a threat to the activities of organizations. Recent cyber attacks in Cyprus, for example against the Department of Land and Geodesy, the University of Cyprus and the Open University, have demonstrated the far-reaching effects of these attacks.
He went on to say that the real estate sector experienced first hand the effects of a cyberattack that crippled the Land Department and caused business to fail for several days. “This incident serves as a wake-up call that highlights the dangers inherent in the digital age and its potential to freeze critical sectors of the Cypriot economy,” Kineiro said . “Real estate companies also face similar risks, so both the public and private sectors need to strengthen their cybersecurity measures to prevent such attacks,” he said.
In addition, Kineiro emphasized that “it is therefore important that both the public and private sectors are properly protected in order to be able to prevent such attacks in the future.” He explained that investments in cybersecurity and staff training are needed to fully reap the benefits of digital evolution.
He went on to say that it is critical to exercise caution and ensure the security of technology solutions in order to avoid any harm to agents, their business, or more importantly, their customers. At the same time, he noted that the implementation of a comprehensive digital transformation project is of great importance for the economy. He explained that this could help create a new economic model, increase competitiveness and create new opportunities by harnessing the potential of digital and new technologies.
“In order to provide an adequate level of protection and to enable everyone to enjoy the benefits of the digital revolution, we must invest in cybersecurity , in training our employees and ourselves,” Kineiro said . “Therefore, we all need to be especially careful and ensure that the technological solutions we use are safe and do not harm us or, even worse, our customers,” he concluded.
