Huge oil transportation company Colonial Pipeline and major meatpacker JBS Foods both made headlines when they fell victim to ransomware attack earlier this year. Little wonder: This form of criminal activity, in which malware placed on computer systems encrypts everything making operations impossible unless someone pays a ransom, is a high-profile subject.
Real estate firms have less frequently been reported as being hit by ransomware, but in this case, no news is not good news. Some experts say companies in various parts of commercial real estate have already fallen prey, only without major publicity. And for those firms that have remained unscathed, experts say it is only a matter of time.
CoreLogic warned in 2019 about ransomware gangs targeting real estate companies. And while names don't generally get mentioned, some professional services organizations have mentioned cases they're familiar with.
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