Your Condo Association is a cyber-criminal’s next target. In 2022, Condo Association cyber security is an ever-growing concern in the United States. From social media hacks to cryptocurrency heists, personal data stored online is no longer safe–and your HOA isn’t exempt. HOA databases often contain hundreds of their resident’s personal records, including bank accounts and social security numbers, making them the perfect target for cyber theft. Yet in a world where every dollar matters, it can be difficult to justify spending hard-earned cash on internet defense. The harsh truth is that cyber-attacks are almost certain to affect HOAs in the next few years. Community Association Living says: “… It’s not a question of if organizations will suffer some kind of data breach–it’s a question of when.” Thankfully, there are some easy ways to make your community just a little bit safer.
Keep your most important data in the cloud.
Cloud-based data management services often include their own cyber security and insurance. This can significantly alleviate the burden on your HOA and can make it more difficult for hackers to access personal information. Cyber security is an ongoing arms race, requiring consistent upgrades to server-side security over time–which can be expensive. Cloud hosting services, however, offset the expense by providing up-to-date defense protocols to the thousands of clients across their platform.
Use software to alert your HOA of any breaches
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On average, a cybercriminal will remain undetected for 200 days inside your system. That’s an abundance of time for a hacker to steal and utilize important information. Up-to-date security systems won’t always protect your association from an attack’s inception, but it can help minimize the damage by noticing what data has been stolen and executing a rapid alert.
Create quality passwords and Multi-Factor Authentication
Passwords are by far the simplest way for a hacker to cause a breach. Invest in Condo Association cyber security by creating a strong password policy, making sure to disallow common passwords like “qwertyuiop” and “123.” Free-to-use password managers can help users create and store multiple secure passwords across a singl_e account. Remember to never reuse a password, as tempting as it might be. Using multi-factor authentication can also be effective in eliminating cyber security threats by requiring users to authenticate their identity through a secondary measure, such as a code sent to the user’s phone number.
Invest in good management
At www.MyArdent.com, we are committed to serving Condo and Homeowners Associations with quality insurance, best in-class technology, and helpful advice. Contact us now to see how we can help get you the cyber security that your residents deserve.
A partnership with Ardent Residential means a hedge of protection for your Association, with Ardent’s Value Guard™ protection plan. Value Guard™ is the only product of its kind, and guarantees against falling property values. CLICK HERE to find out more! 
