TOP 4 HOA Cyber Liabilities and 7 Steps to Reduce your HOAs Cyber Attack Risk

The battle against cyber assault is ongoing. The technological capabilities of cybercriminals are growing at an accelerated pace. The scenario of almost unlimited threat capabilities, coupled with exploitable vulnerabilities, makes cyber insurance essential for community associations.”

Top 4 HOA Cyber Liabilities

• A community association that stores “personally identifiable information” (PII; e.g., owner addresses, social security numbers, credit card or banking information).
• Disruption of normal operations during a cyber attack.
• Downtime and recovery resulting from a cyber attack, malware, or ransomware.
• Board members using their personal contact systems to send email & maintain email lists.

Top 4 HOA Cyber Liabilities

• Develop a response plan.
• Obtain security software that is end-point and has constant malware definition updates.
• Limit access to sensitive information.
• Protect personal identifiable information.
• Learn about social media privacy risks.
• Use strong complex passwords.
• Have at least 3 different sources of data recovery points

If you believe because you are a small management firm or community association you’ll fly under the radar, you are sadly mistaken. Cybercriminals particularly enjoy going after small entities because the small management firms & community associations are ripe for the picking. The cybercriminal’s risk of being caught is very small. 

Cyber Crime Is Not Going Away

When choosing a way to manage this ongoing problem, you should look to outsource your IT services to  a Managed Services provider or IT Solutions provider who has the resources and technology in place to protect your community association and your homeowners.

If you feel that your HOA could use a little more attention when it comes to Cyber Security, we're here to help.  Let's schedule some time to discuss.  Evolution Networks