In light of recent news in which a recent company, a company that stores people’s passwords at that, was recently hacked, cyber security is a pressing issue. LastPass is a commonly used company that allows people to store all their passwords with a single master password. You can then give access to your passwords to others so that they can access your profiles but still don’t know your actual password just in case you have the same password for more than one thing. This past Monday, June 15th, LastPass revealed that hackers broke into their systems and obtained access to user email addresses and encrypted versions of people’s master passwords.
Unfortunately gathering some information can sometimes lead to the ability for hackers to find their way to more important information like bank or hospital records. Hacking is going to be a growing problem in today’s day and age. While technology provides us with wonderful benefits such as ease of interactions and the ability to stay connected, the flip side of the coin is that cyber terrorism is a field which will probably not halt any time soon.
Secure and reliable encryption methods is essential for insurance agencies to protect the sensitive information held by individuals, companies, organizations, and governments. It is crucial to be able to guarantee protection against cyber threats. American Land & Title Association, ALTA, claims protection against non-public personal information is their third pillar of Best Practices, probably the most important. Failure for title insurance agents to protect against non-public personal data could not only damage the title agency’s reputation but also lead to lawsuits or bankruptcy. It is crucial to have a qualified IT manager dedicated to protecting their customer’s information. It is also necessary that the whole team is trained to avoid clicking or downloading any strange file. It only takes one click.
Unfortunately these protections need to be instituted on mobile websites as well. Skilled hackers are in possession of the same scanners that the government uses to trace mobile phone communications.
ALTA has title insurance agencies create a Written Disaster Management Plan. The company must notify proper law enforcement if a data breach occurs. Agencies are accountable for creating robust security processes and have come up with some guidelines:
Choose Passwords Carefully: Strong passwords include a combination of lower and upper case letters, numbers and symbols.
Update Old Software: Updates hinder attackers and thus employees are encouraged to update their software when updates are available.
Encrypt Information: Encryption is crucial to protect files. Partnering with a leader in file-sharing encryption methodologies will help to protect information.
First Title takes these precautions to protect against cyber threats and ensure that customer non-public information stays in the right hands.