Data privacy and cybersecurity for commercial real estate

Key quotes:

• "As the technology evolves and cost benefits become more evident, smaller office markets and other property types may also increase their use of IoT as it becomes less of a luxury and more of a necessity in building management."
• "Automated building management can implement lighting control with a motion sensor that shuts off lights in empty rooms; regulate HVAC units with smart thermostats to avoid overconsumption; install automatic window shading systems; and use data analytics for energy efficiency, engineering reports, occupant complaint reports, etc."
• "While office properties dominate the demand for smart technologies, they are not the sole adopters; hotels, research and development labs, education and health-care properties are also using new technology to reduce costs and shrink their carbon footprint."
• "The hospitality industry is expected to spend over $500.0 million on connected software equipment and over $2.2 billion in guest-room renovations to accommodate these changes, according to IHS Markit Ltd."
• "Commercial property owners and managers are also using new technologies to manage space more efficiently."

Key quotes:

• "Issues around cyber security are nothing new for companies in the digital age; this sheds a light on how in commercial real estate, data protection is one of the most essential and key feature."
• "Organizations across the world are becoming extremely vulnerable to cyber attacks; data breaches commonly involve taking of consumer data, trade secrets, and other financial information."
• "Controlling building access, providing security and monitoring parking garages are all key parts of property management, but what about protecting tenants from cyber-attacks and other digital threats? Today, data is considered a corporate resource, where your processes and procedures need to be in place in order to protect this valuable corporate asset."
• "Ensure that your data storage areas like databases, data rooms, data warehouses are well protected with physical and cyber security."
• "Ensure that all employees who interact with the data are trained and knowledgeable of the procedures to be followed in the process."
• "Organizations that include cyber security in their corporate strategy, have people who are well trained about the potential vulnerabilities, have a good handle on their project and processes, have fewer breaches."

Key quotes:

• "However, high-profile data security incidents and misuse of information have undermined consumer confidence, created risk for companies and, importantly, led to enactment of stringent data privacy and protection laws."
• "Karen and Alex advise companies in a wide variety of industries, including in the commercial real estate ecosystem, on preparations for and compliance with the CCPA, including its interplay with the GDPR and other privacy laws."
• "It does so by establishing new consumer rights and placing restrictions on companies that do business in California and “process” the personal information of California residents."
• "Therefore, the new right empowering California residents to opt out of a sale of personal information poses a significant threat to data sharing, including potentially intracompany sharing."
• "Companies must also be aware of the private right of action provided to consumers for data breaches that occur as a result of a company’s failure to maintain reasonable security procedures and practices."
• "Another unintended consequence, arising from the right to sue for data breaches and seek statutory damages, is the threat of significant class action litigation for unauthorized access or misuse of personal information."

Key quotes:

• "In this essay, I seek to create a consistent level of analysis for US-EU data protection regulation that empowers individuals to craft their own privacy preferences through a qualified, property-based legal regime."
• "(Hence the current piecemeal approach to American privacy.) Thus far, American digital privacy is limited, as Americans have become accustomed to minimal online privacy protection: America’s free market treatment of personal data has created a business-oriented, decentralized regulatory environment wherein OSPs are free to collect, process and sell information on Internet users with few restrictions (Monahan 1998; Newman 2008)."
• "In fact, US IP law is consistent with the GDPR’s ‘dignity’ framework of privacy, so long as the US is prepared to (a) recognize personal digital information as property and (b) assign the data subject the property right in the first instance."

Key quotes:

• "Zach is a Certified Ethical Hacker and founding partner of cybersecurity services firm Silent Sector, where he is focused on changing the dynamic of the industry by showing the benefits and impact security brings to proactive organizations."
• "The cybersecurity industry allows me to protect the people of our Nation again from “behind the scenes.” Can you share the most interesting story that happened to you since you began this fascinating career? We developed a methodology to not only protect companies from cyber-attacks and achieve compliance requirements, but do so while creating a competitive advantage for our clients to land large enterprise contracts."
• "Companies without an internal security team are most effective when leveraging a team of outside professionals who specialize in cybersecurity, providing both strategic and technical levels of service."
• "Working with limited resources, companies are often forced to choose between meeting compliance requirements or building a more holistic cybersecurity program."
• "The vast majority of security breaches are the result of company leadership failing to commit to building a formalized cybersecurity program."
• "However, many companies that lack the resources to issue machines to remote staff are having people work on their personally owned computers."

Transcript: Good morning and welcome Justice Travis said today's topic is cybersecurity I saw this quote once I saw it 10 times it's not a question of whether your company will experience a cyber attack it's a question of when and how effectively your company responds you may not be aware but October is National Cyber Security Awareness Month this is a national campaign designed to increase the public's awareness of cyber security issues last year at this time we held our first cyber fraud webinar at that time I opened with cyber security has played a role in the presidential election most candidates had agreed at that point that it is a problem that must be addressed this year I think I want to say the investigation is ongoing you've all seen the headlines and heard the news various companies who have been breached Yahoo Equifax even the IRS Home Depot and eBay there are currently no federal statute specifically governing data security although there are government agencies that do hold private businesses accountable for attacks and responses to those attacks we hear it often is that the parts of the people for the weak link when it comes to... See more →

Transcript: Um so first of all welcome thanks for coming to our Technology so our first presentation is going to be on vulnerable vendors hopefully it won't scare you too much it will be all about all the things you should be doing and hopefully are to protect your systems we have two fantastic presenters first we have Jim below jim has spent two decades working in the field of information technology he has worked for global technology pioneers like Digital Equipment Corporation HP and loosened these are companies that use he's used that experience to build and sell to successful technology companies since January of 2015 Jim has been the chief information officer at Esquire where is responsible for information security enterprise architecture infrastructure and product development so welcome Jim first and then we also have with Jim someone is a member of our Senate Committee on technology Haley Peters Haley is a practicing attorney since 2011 in both federal and Florida state court she has significant experience litigating nationwide class actions representing institutional and individual clients collaborating with multinational legal teams to advise global corporate clients and developing consultive litigation strategies by leveraging technology I'll let her explain that... See more →