2021 has seen aprolific increase in the number of ransomware attacks, including on companies in mortgage and real estate. Three weeks ago, cloud services providerCloudstar was hit, and it has yet to recover its data. The company said it is negotiating with the attackers but remains offline as of now.
Cloudstar, which operates six data centers in the U.S., has more than 42,000 users — many of them title and settlement providers. The attack not only caused a delay in closings, but sources told HousingWire that some title and settlement companies have closed for good as a result of being locked out of their data — and in some cases even their backup data.
We know ransomware attacks happen frequently to lenders and others in our space, but they are rarely made public. At the Lenders1 summit today I learned about a well-regarded company that offers ancillary services to lenders that suffered a ransomware attack a few weeks ago. The company paid the attackers and was able to resume business pretty quickly, but not everyone is so lucky.
That's one reason the Biden administration has madecybersecurity a priority, and has updated its Stop Ransomwarewebsite, which offers free resources and services on the topic, including a Ransomware Readiness Assessment that generates a summary and lets companies use different filters to analyze the findings. It also features a Response checklist in case your company has the misfortune to be attacked.
We're tackling the issue of cybersecurity, including the threat from ransomware, at our HW Annual event Sept. 27-28 in Dallas. Find out morehere and sign up to HW+here to get a discounted rate.
Today's episode of HousingWire Daily continues the Women of Influence podcast miniseries with Courtney Graham, who was a 2020 Women of Influence and is a 2021 Marketing Leader.
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