How construction escrow helps keep payments safe from cybercrime

June 10, 2024


Whenever significant amounts of money change hands, cyberfraudsters are always nearby trying to find a weak link in the process. This can be especially true with commercial real estate projects as there are a number of large payments being distributed — to engineers, architects, general contractors, subcontractors, material suppliers and many others.

In fact, according to ReliaQuest’s Q3 cyberthreat report, construction and manufacturing are among the top three targeted sectors for ransomware groups. And if you have worked in commercial real estate as long as I have, it’s natural to see why these sectors are so popular for cybercriminals — they share data and infrastructures with multiple companies.

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