15.03.2023
The real estate sector appears to be paying a heavy price as a result of the cyberattack that the Land Registry received and paralyzed its operations.
Typical are the statements of the CEO of Oikos group Petros Petros that the sector “froze” due to a cyber attack . At the same time, Mr. Petru sounded the alarm about the possibility of losing confidential information.
Noting that the Land Cadastre portal concerns a critical sector of the economy, which affects developers, real estate agents, banks, lawyers, accountants, architects, civil engineers and others, Ms. Petru noted that the damage caused to the country’s economy is quite large .
“The implications for the real estate sector are immediate, as both simple transactions related to property inspections and investigations and serious transactions processed through the portal are affected. It clearly affects us in doing our job,” he said.
Oikos CEO The Group emphasized that the sector as a whole “froze” as the Land Registry was practically closed in the previous days and did not serve either sector professionals or the public. “Therefore,” said Mr. Petru, “the damage done to the economy of our country is quite great.”
An extremely important parameter raised by Mr. Petru is classified information, expressing the hope that it was kept. Otherwise, as he pointed out, it will have negative consequences in the long run.
“We want to trust that any issues that arise will be fixed and that no important information will be lost. I hope confidential information has been protected. Otherwise, if in the future it turns out that confidential information has indeed not been stored, then this will certainly have a negative impact in the long run, especially in terms of the reliability of the system and cadastral documents,” he said.
It is noted that the Department of Cadastre and Surveying announced yesterday that after the technical problem presented to the Cadastral Portal, from today, Wednesday, March 15, 2023, the gradual restoration of specific legal acts in the regional cadastral departments will begin.
