"Ransomware" refers to any virus or malware that maliciously encrypts your computer, data, or network to hold it hostage and bring your organization to a standstill until a ransom is paid. During these attacks, your systems display messages prompting users to pay or take other actions that further compromise your organization's security, while promising to allegedly allow you to regain control over your systems or retrieve your data.
Risk Assessment
Your nonprofit's response to a crisis or bad publicity greatly affects your organization's reputation. Use this sample nonprofit crisis communications plan template to ensure that you respond promptly, accurately and confidently during an emergency, and in the hours and days that follow that crisis. (Bloomerang, 2016)
Cybercriminals are becoming evermore sophisticated in their attempts to infect your device or con you out of sensitive information about your organization. Login credentials to your online accounts that host financial information or data about the constituents your nonprofit serves are all valuable commodities to obtain and exploit, particularly by getting one of your staff to reveal a key piece of information when they respond to a malicious email.
Adapted with permission from Your All-In-One Guide to Improving Your Security Posture, MDcentric Technologies.
Your All-In-One Guide to Improving Your Security Posture provided by MDcentric Technologies helps your organization asses your cybersecurity risk from an outsiders perspective; evaluate your current security architecture; and educate your staff on cyberthreats such as hacking, identity theft, and malware.
Smart nonprofits take risks—many risks—every day. Such organizations are creative, inventive, and continue to succeed despite the changing environment. These organizations know that success demands risk-taking, and they create an organizational culture that regularly assesses risk, favors intelligent risks, and mitigates the impact of known risks. (First Nonprofit Group)
Risk Management: Your Role as a Board Member
Crisis prevention is doubly important for small public entities, companies and nonprofit organizations. Small organizations often have fewer resources to draw on when a crisis erupts, and insurance and other risk financing tools may not be an available due to the organization’s meager financial resources. But every organization, from the smallest to the largest can and should take steps to prevent the preventable and prepare for the unavoidable. The key is to select the strategies that appeal to your organization and best suit your situation.
How can nonprofits' leaders and boards better mitigate their fraud risks? First and foremost, they should focus on governance. (Nonprofit Quarterly)