Magnifying lens examining computer bug with network circuit stock illustration

What is Malware?

What exactly is malware, and how can you safeguard against it?

You’ve heard the term. You’ve seen the warnings. You may have even been unlucky enough to experience an attack. But what exactly is malware, and what can you do to safeguard against it?

Malware: A Catch-All Term

Malware is an umbrella term for any type of malicious software. This can include anything from computer viruses, worms and Trojan horses (a malicious piece of software disguised as a legitimate program) to ransomware, spyware, adware or scareware.

Typically, anything that secretly works against the interests of a computer user can be classified as malware. Malware can infect almost any type of computer or digital device. Some but not all machines that are vulnerable to malware include: Windows computers, Macs, iPhones, iPads, Android devices and network servers. Viruses and worms are the most common types of malware, and both are spread by becoming embedded in executable software.

Why it Matters  

Malware is used by hackers to gain access and pilfer the personal, financial, business or governmental data of unsuspecting individuals or organizations. Once this information is acquired, cybercriminals frequently seek to exhort money from their victims – either directly through ransoms (where the criminal blocks access to files or programs until the victim pays them money) or by engaging in identity theft.

Recent studies indicate that cybercrime is on the rise. A 2019 report revealed a 67 percent increase in security breaches over the past five years.[i] The cost of these attacks is truly staggering. According to the White House, “malicious cyber activity cost the U.S. economy between $57 billion and $109 billion in 2016.”[ii] The average cost of a data breach is $3.9 million according to IBM.[iii] While it may be tempting to think that only large multinationals are the targets of these attacks, 43 percent of breach victims were small or medium-sized businesses.[iv]

What Can be Done?

As with other industries, identity theft, fraud and other crimes are increasing throughout the insurance and financial services sectors. Still, there are numerous actions you can take to better safeguard your data.

A great first step is to purchase high-quality anti-virus software and install it across your devices. It is essential to purchase one from a well-known and trusted provider, and to have it consistently run scans on any machine that may be vulnerable.

You should diligently update both your operating systems (Mac/IOS, Windows, Android, etc.) and internet browsers (Internet Explorer, Google Chrome, Firefox, Safari and Microsoft Edge). Not only do these updates patch security holes, but they also better protect your data and offer enhanced features that can make your work life easier and more enjoyable.  

When safeguarding your devices through the previous steps, it is always a good idea to back up your data and store it on an external hard drive where it will be retrievable in the future. By taking this precaution, you will ensure that you do not lose access to your most valuable data even if you are unlucky enough to experience a malware attack and have to consult a professional to repair your device.

Avoiding Phishing Scams and Ensuring Safe Title Transactions

One of the most common threats that occur during real estate transactions is a phishing scam, where criminals seek to gain access to nonpublic personal information (NPI), place malicious code on your device or convince you to change wiring instructions. To protect yourself from these scams, agents should be mindful of the following warning signs within a suspicious email:

  • Poor spelling, grammar and generic greetings
  • Requests for personal information
  • An unusual sense of urgency
  • Instructions to change wiring information
  • Questionable-looking attachments or links that encourage a click.

Additionally, agents can reduce risk by transmitting data through encryption, using two-factor email authentications, maintaining a contact log for all transaction participants, eliminating the need for urgency and performing a risk assessment to identify security gaps.

Commit to Safety

Considering the fiduciary responsibilities that title agents possess, data security is of the utmost importance. Of course, no system is foolproof, but by knowing the risks and taking necessary precautions, agents can make significant progress toward protecting the integrity of their clients’ transactions.


[i] https://www.accenture.com/us-en/insights/security/cost-cybercrime-study

[ii] https://www.whitehouse.gov/wp-content/uploads/2018/03/The-Cost-of-Malicious-Cyber-Activity-to-the-U.S.-Economy.pdf

[iii] https://www.cyber-observer.com/cyber-news-29-statistics-for-2020-cyber-observer/

[iv] Ibid

Tags: , ,

Leave a comment

You must be logged in to post a comment.
This blog contains general information only, not intended to be relied upon as, nor a substitute for, specific professional advice. We accept no responsibility for loss occasioned to any purpose acting on or refraining from action as a result of any material on this blog.

Let’s Connect

Discover more stories and conversations on our social media networks,
or drop us a line on our contact page.


The Independent Underwriter for
the Independent AgentSM