The board of directors for your homeowners association (HOA) probably feels it has a lot more pressing issues than cyber security. So it’s understandable that you may not be as focused on keeping up with safety measures to protect your HOA’s sensitive data. However, with cyber attacks becoming more and more prevalent, the financial and personal information that your association maintains is at greater risk.
Consider, for example, two cyber attacks in 2016 that directly affected Arizonans. In one case, an 18-year-old was arrested after creating and distributing malware that had the potential to seriously disrupt 911 emergency call systems in Maricopa County. In another case, personal data of up to 3.7 million people – including Arizona residents – was potentially breached as the result of a cyber attack against Phoenix-based Banner Health.
More recently, the WannaCry ransomware attack affected governments, businesses and individuals worldwide in May 2017. The malicious software spread via computers that had not been updated with Microsoft’s latest patch. Cyber experts at the Arizona Cyber Threat Response Alliance and the Phoenix-area nonprofit Cyber Warfare Range warned that such attacks are likely to get worse in the near future. And small businesses – including HOAs – are not immune.
Your board has a fiduciary duty to look out for the best interest of homeowners in your community. That means taking the security measures necessary to protect their personal information, as well as the association’s financial data.
In our previous article
on cyber security, we provided steps that homeowners could take to protect themselves and the HOA against attacks. In part two
of this three-part series, we offer security recommendations for your board.