February 2023

TRUST... from page 34.

ment companies and board members of associations. It is an inexpensive policy compared to the cost of a data breach. In addition, a legal professional can consult on your data privacy and cybersecurity needs. In the end, trust is earned over time, and trust in cybersecurity is as important, if not more important, as we increasingly shift our behavior to more digital inter actions. As we continue to grow our dependence on software solutions, evaluating your software provider’s security posture is critical as everyone looks to expand their digital footprint. n

controls. The main difference between SOC 2 Type I and II is that Type I provides a report of the procedures/ control that an organization has put in place at a certain time, and Type II audits and provides evidence of how an organization operates these controls over a period of time. 4. Consult your insurance and legal professionals: Investigate cybercrime coverage for property manage

END NOTES: 1 “Two Years Into The Pandemic, Digital Transformation Is Moving Forward: Here’s How”; Section: Paragraph 1; Hank Prybylski, Forbes; https://www.forbes.com/sites/hankprybylski/2022/05/04/two-years-into-the-pandemic-digital-transformation-is-moving-forward-heres-how/?sh=5e6a31a84773 2 “3 Ways Marketers Can Earn — and Keep — Customer Trust”; Section: Paragraph 3; Christine Alemany, Harvard Business Review, June 3, 2022; https://hbr.org/2022/06/3-ways-marketers-can-earn-and-keep-customer-trust 3 “30+ data breach statistics and facts”; Section: 3; Aimee O’Driscoll, Comparitech, January 4, 2023; https://www.comparitech.com/blog/vpn-privacy/data-breach-statistics-facts/ 4 “30+ data breach statistics and facts”; Section: 4-6; Aimee O’Driscoll, Comparitech, January 4, 2023; https://www.comparitech.com/blog/vpn-privacy/data-breach-statistics-facts/ 5 “Cybercrime thrives during pandemic: Verizon 2021 Data Breach Investigations Report”; Section: What You Need to Know; Verizon, May 13, 2021; https://www.verizon.com/about/news/verizon-2021-data-breach-investigations-report 6 “HOA Statistics”; Section: HOA Industry ; iProperty Management, Updated October 9, 2022; https://ipropertymanagement.com/research/hoa-statistics 7 “Service Organization Controls (SOC) Reports: Providing insight into an organization’s risk”; Section: What is a SOC Report?; Rapid7; https://www.rapid7.com/fundamentals/soc-report/#:~:text=What%20is%20a%20SOC%20Report,business%20function%20to%20that%20organization

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