Majority of real estate companies experience cyber attacks

12
Feb
2025
News - Majority of real estate companies experience cyber attacks #cyber security #Czech Republic #PlanRadar #report

by Property Forum | Report

In recent years, the construction industry has become increasingly digitised and project management has become more efficient. But this progress has come hand in hand with cyber security challenges, where sensitive information such as contracts, financial data or project proposals are at risk of attack, warn specialists from PlanRadar.


Cyber-attacks such as phishing, ransomware or attacks on backup files are becoming more and more common. According to a 2024 international analysis across 14 countries, the vast majority of construction and real estate companies (96%) experienced cyber attacks that involved an attempt to corrupt backed-up data, with 61% of those attempts being successful. At the same time, these attacks have far-reaching consequences – from financial losses to disruption of operations to damage to the company's reputation. The situation thus points to the imperative need to strengthen cyber security within the entire industry.

One of the key measures against these threats is multi-factor authentication, which adds an extra layer of protection beyond regular passwords. Another important step is limiting access rights. This means that specific employees should only have access to the information necessary for the performance of their work, and not to data for the entire company. Modern software platforms enable these processes to be managed effectively and offer the possibility of monitoring user activities or encrypting data.  

However, in addition to consistent backups, employee behaviour plays a significant role. Another global survey from 2024 shows that around one-quarter of organizations (25.7%) do not provide regular IT security training to their workforce. This fundamental lack of training is a critical security issue, especially for smaller companies.

In the construction industry, where one human error can mean unauthorised access to a wide range of data and information from many collaborating entities, training your employees in the field of cyber security is essential. "Cyber security in the construction industry requires a comprehensive approach that combines modern technologies with prevention and employee education. By properly setting security measures, construction companies can not only minimize the risk of leaking sensitive information but also better face the growing demands of digitisation," comments Adam Heres Vostárek, Regional Manager for the Czech Republic at PlanRadar.




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