Information Security in the South Australian Real Estate Industry: A Study of 40 Real Estate Organisations

Abstract

Purpose - Opportunities for malicious cyber activities have expanded with the globalisation and advancements in information and communication technology (ICT). Such activities will increasingly affect the security of businesses with online presence and/or connected to the Internet. Although the real estate sector is a potential attack vector for and target of malicious cyber activities, it is an understudied industry. This paper aims to contribute to a better understanding of the information security threats, awareness, and risk management standards currently employed by the real estate sector in South Australia.

Design/methodology/approach - Current study comprises both quantitative and qualitative methodologies, which include 20 survey questionnaires and 20 face-to-face interviews conducted in South Australia.

Findings - There is a lack of understanding about the true magnitude of malicious cyber activities and its impact on the real estate sector, as illustrated in our findings of 40 real estate organisations in South Australia. Our findings and the escalating complexities of the online environment underscore the need for regular ongoing training programs for basic online security (including new cybercrime trends) and the promotion of a culture of information security (e.g. when using smart mobile devices to store and access sensitive data) among staff. Such initiatives will enable staff employed in the (South Australian) real estate sector to maintain current knowledge of the latest. Originality/value - This is the first academic study focusing on the real estate organisations in South Australia. Our findings will contribute to the evidence on the information security threats faced by the sector as well as in develop sector-specific information security risk management guidelines.

Keywords: Computer security, Information Security, Information security risk management, Real estate sector

JEL Classification: C88, C89, K42, K49