Cybercrime is no longer a distant threat that only impacts large corporations. Homeowners Associations are increasingly becoming prime targets, and the consequences are often severe: missing reserve funds, fraudulent payments, compromised homeowner data, and costly legal fallout.
These are not isolated incidents — they are warning signs of a growing trend.
Recent Cybercrime Incidents Involving HOAs
January 2026 — Northern Colorado HOA Cybercrime Case Results in Felony Guilty Plea
In Larimer County, a former property manager pleaded guilty to felony cybercrime and tax evasion after nearly $650,000 in HOA funds reportedly went missing across multiple northern Colorado communities. The case highlights how digital access to financial systems — without strong controls — can be exploited quickly and quietly.
Late 2025 — HOA Phishing Scams Surge Nationwide
Cybercriminals launched convincing email and website scams impersonating HOA assessment notices, tricking homeowners into making fraudulent payments and exposing sensitive personal information.
Ongoing — Email and Payment Fraud Continues to Drain HOA Accounts
Business email compromise, fake invoices, and payment diversion schemes continue to target HOAs, exploiting weak verification processes and insufficient cybersecurity safeguards.
Why This Matters
HOAs manage significant operating funds, reserve accounts, and sensitive homeowner data, yet many associations and management companies still operate without enterprise-grade cybersecurity protections.
Without strong systems in place, the risk isn’t just inconvenience — it’s financial loss, reputational damage, legal exposure, and disruption to the community.
That’s why cybersecurity standards like SOC 2 compliance, along with documented processes and strong internal controls, are no longer optional best practices. They are essential to fulfilling fiduciary responsibilities and protecting association assets.
Our Commitment to Cybersecurity
The Summit is SOC 2 Type I certified and undergoes continuous monitoring for breaches, and conducts quarterly reviews of our cyber systems. In addition, we carry significant cyber insurance coverage — coverage that is only available to companies that demonstrate robust cybersecurity systems, documented processes, and strong internal controls.