How to prevent cyber attacks on your property management business

Read time:
Padlock on laptop

Canada is experiencing a surge in cyber attacks, and no business, regardless of its size, is immune to the threat. Cybercriminals are targeting both large companies and growing startups, posing serious risks to their finances, operational continuity, and reputation.

Just as property managers would safeguard their rental properties against physical risks, they must also prioritize cybersecurity, especially as they increasingly digitize their processes.

Digital trust to the rescue

Automated threat detection and antivirus software are the best starting point. But in addition to that, business software and online platforms handling sensitive data should also be fortified with robust security measures.

PayProp, for example, provides iron-clad security with flexible user access controls, dual payment approval, browser authentication, strong encryption, and secure data linkage with the bank.

Adapting to remote work realities

The rising mix of remote and on-location work brings its own set of challenges, with personal devices becoming potential weak points in a business’s cybersecurity infrastructure – two-thirds of Canadian businesses reported at least one employee having used a personal phone or computer for business activities in 2021.

Establishing clear work-from-home guidelines, such as only using work-provided laptops and phones, mandatory privacy webcam covers, a business VPN, and avoiding untrusted networks in places like cafés, helps create a secure work environment and reduce vulnerabilities.

But in recognizing the prevalence of Bring Your Own Device (BYOD) policies in some businesses, it should be noted that digital security tools and policies have demonstrated their efficacy in safely integrating these devices into organizational networks.

Empower with education

Most fundamentally, however, security and awareness education and training form the bedrock of effective cybersecurity. Employees should be able to identify and respond to potential threats, including phishing emails, scam callers, data breaches, and more.

They should also be actively discouraged from reusing the same login credentials across work and personal accounts, and prompted to change their passwords regularly.

Cybersecurity analyst Ritesh Kotak also recommends performing routine penetration testing of your cybersecurity infrastructure, as well as cyber drills – similar to fire drills – to ensure all employees are well-prepared to handle a cyber-emergency. At PayProp, annual penetration testing has been a long-time security measure to check for any gaps in our cyber-defences.

Be proactive against cyber crime

Safeguard both your business’s integrity and client data by fortifying your digital defenses today.

To see how PayProp helps protect your business and client money, book a demo with one of our experts.

No items found.

See PayProp in action

Let us show you how to get more out of work and more out of life!

  • Real-time property management
  • Real-time bank integration
  • Real-time reconciliation & payments