Cyber Security: How Brokerages Can Protect Themselves

October is National Cyber Security Awareness Month, and today we're looking at how brokers can better protect sensitive client data.

Digital security is increasingly complex goal to achieve. Every advance in technology brings new risks alongside the benefits. Wi-Fi untethered us from our desks and ethernet cables, but also made our devices vulnerable. The Internet opened up a new world of marketing, including on social media, but gave criminals an easy way to target their next victim. And let's not forget the rapidly evolving "Internet of Things" where wearable devices, appliances, cars, smart home technology and more are able to connect and "talk" to each other. No wonder cyber security is so complicated!

That said, there are steps brokers can take to ensure their firm is as safe as possible. Obviously, this includes things like securely storing digital documents and carefully evaluating software and other tech tools that handle client data (see more tips here). However, much of the security burden falls on agents' shoulders and the measures they take when they're away from the confines of your secure office. Below is a list of digital security tips you can share with your agents and staff to keep them (and their devices) as safe as possible:

1. Know how to identify a tampered document - While many brokers provide their agents with e-signature and transaction management solutions, some do not. Unfortunately those agents who "go it alone" don't always choose secure solutions that protect documents from tampering. That can jeopardize the legality of an entire transaction! To learn how to protect yourself, your client, and the sale, see Can You Trust That eSignature? How to Spot a Tampered Document.