The 4 Cs of cybersecurity from TLA Financial Services
We all know that wire fraud and cybersecurity are major concerns in real estate, especially in high-dollar transactions in Latin America. In fact, the prevalence of scammers is one of the reasons TLA Financial Services exists. Your financial security is our priority!
By providing a more secure, American-style escrow experience, we can better protect the funds involved in our clients’ real estate transactions. However, fighting fraud is a team effort. That’s why we’re presenting this blog during Cybersecurity Awareness Month on how to strengthen your defenses against cybercrime.
Here's our list of the four Cs of cybersecurity. Even though scammers evolve and change with the times, there are still some tried-and-true methods regarding the industry’s best practices.
Our four cybersecurity Cs:
● Change: You’ve probably heard this one before, but it's worth repeating. Changing even your strongest passwords regularly helps you stay one step ahead. It is important to change your passwords every three months. Put it on your calendar and use a password generator or manager if needed.
● Commit: It’s important to have a cybersecurity strategy in place, especially for those of us in real estate. Stay committed to doing software and computer updates when asked. They may seem like a hassle, but they really are important.
● Collaborate: You may not think about it too much, but it should be at the forefront of your mind. Make sure you choose transaction partners who are just as dedicated to keeping you and your clients safe. After all, there are plenty of people involved in a real estate transaction, and your defenses are only as strong as the weakest link.
● Communicate: Talk about your dedication to cybersecurity internally and externally. Make sure your entire team knows procedures and protocols – and provide training so they know how to follow them. Make sure your customers know how you protect them, and confirm that your vendors and partners are committed to staying secure as well.
This October, it’s time to re-commit to keeping our customers safe the rest of the year and beyond! Talk to your trusted TLA professional and learn about everything we've done and invested in to better protect your money. Remember: Slowing down and verifying information can be the difference between staying secure and facing a costly disaster. Reach out to us if something ever seems off during your transaction. Here are a few specific cybersecurity things to keep in mind, directly from the FAQ section of our website.
“To safeguard sensitive information, we use Citrix ShareFile, a secure client portal. Wire instructions will only be communicated through this portal, and we strongly encourage clients to use it for sharing personal information as well. Email should never be used for sensitive communications, as accounts can be compromised.”
In fact, if you receive an email requesting changes to wire instructions, it should be treated with suspicion. Call your escrow provider to confirm changes directly by using this phone number: +1 (214) 833-2822. Often, scammers will include a new number to try to intercept your call in a scam email. Don’t dial those under any circumstances.
The bottom line is that the TLA Financial Services team is here to keep you safe by always delivering escrow services that protect you. Knowing you and your clients are secure with the TLA Financial Services team is just one aspect of the expertise you can trust. Want to know more about what we do regarding cybersecurity, read this. (Spanish version here.)