Cybersecurity – Hackers: Coming soon to a building near you – by Jonathan Avery

Cybersecurity is all over the news today as a major concern with significant impacts to our economy. Attending a program at the recently concluded Counselors of Real Estate (CRE) Conference is Charlotte, NC, the local and immediate impact of cyber threats came through clearly. As we are increasingly becoming aware, building management, maintenance and control systems are increasingly online. Everything from HVAC systems, security access, environmental controls/energy management, garage access systems and wireless networks are potential entry points for hackers to attack. The impact of these threats on real estate can be disastrous. For example, few realize that installation procedures developed by building equipment manufacturers, in more than 50% of the cases, include use of generic passcodes and logins for security access. These generic passwords are available easily through an Internet search identifying the equipment and manufacturer. So, if you do not change the access procedures and passcodes at the time of installation, these systems may provide an open backdoor for a cyber-attack. Cyber-attacks can come in many variations. A frequently described method of attack is called “theft of buildings.” In this type of attack, a hacker will gain access to building management systems such as lighting or HVAC and shut down the entire building. An email will arrive detailing the ransom to be paid in order to return control of the building. However, this is the point at which building owners and managers should immediately contact law enforcement officials since continued blackmail is often the pattern. For the full article click here 

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