What to Do If Your Business Faces a Ransom Threat

Evolving wire fraud schemes and ransomware attacks are putting you and your clients at risk every day. Randy Hatada, CRS, broker-owner of Xpand Realty in Las Vegas, had his company’s phone line—which was in operation for 13 years—taken down and held for ransom. Bill Soffel, president and CEO of ERA Team VP Real Estate in Chautauqua, N.Y., has helped his agents and their clients recover from wire fraud schemes. They share their difficult experiences bouncing back from these scams and impart lessons for other real estate professionals to keep their sensitive information, business operations and clients safe from cybersecurity threats.