What you’ll learn (TL;DR)
- Understanding the importance of cybersecurity is crucial to protect yourself from online scams when buying a home.
- Secure your financial transactions, such as mortgage payments and property insurance, from phishing attacks and wire fraud scams.
- Ensure your home network is secure to prevent cybercriminals from accessing your personal information and devices.
Cybersecurity Tips for Homebuyers
In today’s digital era, homebuyers typically kickstart their search online, whether seeking guidance on the process or browsing available properties. Some buyers will do even more—according to Zillow, 36% of Americans would be willing to buy a home entirely online! Online convenience has transformed the real estate industry but, unfortunately, online transactions can be more susceptible to cybercriminal activity. For example, cybercriminals love falsely advertising nonexistent or misrepresented properties for sale. They hide behind online communications and doctor photos to create properties at too-good-to-be-true prices.
When you buy a home, title insurance can protect your ownership rights from a variety of types of fraud
, but there are other important steps you can take to protect yourself before you buy your home.
The best way to protect yourself from these scams is by learning about cybersecurity. Wherever you are in your real estate journey, let’s discuss a few ways cybersecurity affects you, and every homeowner.
Protecting Your Finances
Homeownership is a journey filled with financial transactions, from navigating mortgage payments to securing property insurance. Most Americans find it convenient to make these payments online or over the phone, even though we're handing over sensitive information to individuals we can't see. Cybercriminals exploit our desire for convenience by impersonating common financial institutions, hoping to trick people into believing that they are interacting with a legitimate company. Have you ever received an unusual text message or email purportedly from your bank? This message was likely a
phishing attack
to trick you into a
wire fraud
scam or sharing your banking login information. Basic cybersecurity best practices can help you protect your online payments and help keep your financial accounts secure.
Securing Your Home Network
If you are reading this from the comfort of your home, you are using your home network, for example, your wireless router and the group of devices in your house that connect to each other and the Internet. The Internet connects your home network to a global network of other computers, allowing you to get information from other people around the world. However, if your home network is not secured, cyber criminals can use your home network to access your devices, your personal information, and potentially even your home. Fortunately, just like phishing,
creating a cybersecure home
starts with a few basic guidelines. By learning how to manage your devices, you can be confident in the security of your home.
How Long is Your Password?
One easy way to help strengthen your security is by lengthening your passwords. According to Hive Systems—a cybersecurity company—a hacker can guess a 6-character password instantly, but it would take 226 years for the same hacker to guess a 12-character password!
Learn More About Password Security
.
Can You Spot an Attack?
How would you know if an attacker hacked into one of your accounts? One sign is that you are unable to log in, even when you know you are using the correct password. Learn about other
Signs Your Account is Compromised
.
