Prevent your business from fraud
There are many resources available for consumers wanting to protect themselves from fraud, and much of the advice is straightforward; don’t open emails from unknown senders, monitor your credit card statements, etc. But what about for businesses? Here are four tips to help you prevent your business from becoming a victim of fraud.
1. Consumers aren’t the only phishing targets
Legitimate looking emails or phone calls may be a phishing tactic in disguise, and your business makes an attractive target for fraudsters. What’s more important is that phishing emails capitalize on human error to compromise your data, making every employee in your business a possible vulnerability. A recent Verizon report shows that 18% of people click on suspicious links. These links could be asking them to reset or verify account information, giving the hackers access to whatever your employee has access to. Make sure your employees are aware of these tactics and stick with internal processes such as contacting IT regarding account information instead of providing their credentials to external websites. If you receive a message from your banking, healthcare or insurance provider, contact them directly rather than clicking on links in email.
2. Don’t send sensitive data in email unless it is encrypted
You may have successfully avoided giving away your data through a phishing email, but what about over legitimate email? You control this information within your organization, but once it leaves your inbox, are you sure about who is accessing it? Human error on both your or the recipient’s end could expose sensitive information contained in emails to hackers. Email is still the best way for businesses to communicate with both customers and with each other, so your business needs an email encryption solution to keep accounting information, SSNs and other private data encrypted over email.
3. Set a strong password policy for employees
You probably have at least one work-related password. When was the last time you changed it? Do you use the same password for another service that may have been hacked? How many characters is it, and does it include your birthdate, name of a loved one, or hometown? If so, your password is probably easy to guess through social engineering, or could be hacked via other means. Make sure to choose a strong password, and enforce a password policy that requires you employees to do so as well. Check out one of our previous posts for password security tips.
4. Have a security plan for mobile devices
Smartphones are everywhere, including in your business. Employees who use their devices for work, even just for email, put your data at risk if their device is lost or stolen. Your business should have guidelines for mobile usage in your workplace and a security plan for when losses happen. Read our post “Does Your Mobile Security Plan Measure Up?” for more information.
The size of your business no longer matters to your vulnerability to cyberattack or data loss; security is every business’ responsibility. How do you prevent fraud in your business? Share your own tips in the comments below.