Computers make the day-to-day operations of homeowners associations easier and more convenient. However, they also present risks and liabilities that must not be overlooked.
What Is Cybersecurity and Why Does It Matter?
Cybersecurity is the protection of sensitive digital data. With HOAs becoming increasingly reliant on technology, HOA cybersecurity is more relevant than ever before.
HOAs store records containing sensitive information about members, such as leases and rental applications. Many HOAs accept electronic payments, which are convenient but not without risks. If you keep account numbers on file for automatic payments, the risk increases.
The organization’s data is at risk as well. Digital records save space and paper, but storing electronic records leaves your HOA vulnerable to a cyberattack.
How Can HOAs Protect Electronic Data?
Your HOA should practice security measures to protect sensitive data.
1. Strong Passwords
Passwords should be complex and unique. Change them frequently, including whenever someone leaves the organization.
2. Software Updates
Invest in software upgrades for the most up-to-date safety features.
3. Limited Access
Keep your computers in a secure office and restrict the number of people who have access.
4. Education
Instruct employees and volunteers on internet and email safety, strong password creation and what to do if a cyberattack occurs.
5. Insurance
Purchase cybersecurity insurance to protect your organization from financial losses caused by a cybersecurity breach.
Cybersecurity can be an intimidating concept, but with the right tools and knowledge, you can protect your data from cybercriminals and keep your HOA secure.