Condo Media - August 2018 - 14

News Desk

Technology Use and Data Security
2018 Survey Reveals Association Trends and Issues
According to a new study
released by the Foundation
for Community Association Research, more than half (56 percent)
of community associations have
policies and procedures in place to
collect, store, and protect homeowners' personal data. In 2018, with the
assistance of independent research
firm Strategic Research Partners
(SRP) the foundation surveyed more
than 600 community association
managers, board members, and the professionals who support associations to identify the risks and liabilities associated with using
technology to conduct association business.
According to the foundation's research, ransomware and phishing are the most common forms of attack on community associations. More than half (52 percent) of the communities surveyed
reported that fraud and theft are their top concerns. Additionally,
the majority of respondents (92 percent) report that their community associations use software management programs, and
nearly half (49 percent) of respondents indicated that cost and
program compatibility (46 percent) are the most common considerations when selecting financial software.
The research also shows that 56 percent of associations
have adopted policies to protect privacy information, and the
overwhelming majority (70 percent) continue to store hardcopy documents like contracts, financial and payment data and
records, and resident contact information. To download a FREE
copy of the survey visit www.cairf.org.

Top Suggestions
for Minimizing
TechnologyAssociated Risks
n Education, training, and seminars for
community association officers and managers
n Appropriate insurance coverage and
consultations with insurance agents
n Increased guidance and services from
IT or cybersecurity professionals
n Adopt and implement community rules
and regulations, policies, and procedures
n Password-protected community website,
documents, and emails
n Restricted access to association records
and data
n High-quality antivirus and malware
protection software
n Complex passwords that are changed often

Time for a Plan

September is National Preparedness Month
To protect residents' lives and minimize property
damage if the unexpected or the unimaginable happens,
every community should have a plan of action ready to
implement in the event of an emergency.
The Federal Emergency Management Agency's website-
www.fema.gov-recommends the following steps:
n Be aware of the natural risks in your area.
n Maintain an updated contact list and establish alternative
methods of communication in case traditional means
aren't available.

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CONDOMEDIA August 2018

n Encourage residents

to develop and rehearse
individual and family
preparedness plans.
n Encourage residents to assemble an emergency kit for
each person in their household, as well as their pets.
September is National Preparedness Month-a good time to
develop an emergency plan or update the one you already have.
Resources are available at caionline.org/DisasterResources.
Condo Media - August 2018

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