ASSESSMENT OF DATA PRIVACY AND SECURITY CHALLENGES IN REAL ESTATE TECHNOLOGY IN LOKOJA, KOGI STATE
Abstract
The aim of this study is to assess the data privacy and security challenges faced by the real estate technology sector in Lokoja, Kogi State. The objectives of the study was identify the common types of data collected and processed by real estate technology platforms, to examine the primary data privacy and security challenges faced by the industry, to evaluate the effectiveness of current data protection and cybersecurity measures implemented by real estate firms and to explore the regulatory framework governing data privacy and security in real estate technology. Data for this study was sourced from both primary and secondary data. Fifty (50) respondents including developers and town planning officials in Idah constituted the study population. The researcher used statistical techniques to analyse the collected data from the respondent such as simple percentage (%) and mean item score and table for easy comprehension. It was discovered from their study they are common types of data collected and processed by real estate technology platforms which includes property data, market data, geospatial data, legal and regulatory data, building details and ownership history. The study also observed that the primary data privacy and security challenges faced by the industry are data breaches, data minimization, third party risk management. It discovered from the study that the effectiveness of current data protection and cybersecurity measures implemented by real estate firms are based on inadequate user consent, security flaws and third party integration, adoption of cloud security best practices, cyber insurance and risk assessments, and real estate brokerages are starting to invest in cybersecurity awareness training, especially for agents handling sensitive client data. It is recommended that there is need to Offers best practices and guidelines but not binding law, proper awareness should be given to the clients and users of real estate data, so as to minimize data instruction. Provision of law and order to bodies involved so as to ensure proper data minimization and Multi-factor authentication (MFA).
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