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With the increase in online business operations and employees working from home, companies are at greater risk of internet fraud. To help keep your business from what could be a potentially ruinous incident, follow these tips.
Perform Employee Background Checks
Even with all the security measures listed below, your business can still fall victim to fraud if you hire someone who engages in criminal activity. It’s smart to do your due diligence when hiring and check references as well as perform background checks on candidates.
Invest in Secure Equipment for Employees Working Remotely
Whether you have employees working from home full time or just now and then, you want to make sure they’re not accidentally leaving your business open to fraudsters and other criminals. Rather than having workers use their personal computers and phones, it’s better to provide them with the equipment they need, such as:
Laptops
Mobile phones or tablets
Printers
Internet access
Paper shredders
Educate Workers About Common Scams
Often businesses become fraud victims via phishing emails and other common scams. Teach your staff about these attempts to steal passwords or client data. When in doubt, never open or answer suspicious emails or other online solicitations that could contain malware, viruses, ransomware, and the like.
Separate Bank Accounts
Always keep your business accounts separate from your personal banking. This way, if your business account is compromised, it won’t affect your ability to pay your personal bills. Even better, open both checking and savings accounts for your business, and move excess money into savings or similar secure locations, so if your checking account is compromised, the bulk of your money remains safe.
Consider a Dedicated Computer for Banking and Financial Transactions
If you have the budget or a computer to spare, always use the same computer when performing online banking and other financial transactions, and don't use that computer for other functions like email or social media. Change the passwords frequently, and limit who has access to that computer.
Two-Factor Authentication (2FA)
Two-factor authentication (2FA) is an additional step of security which may be required before you can access your Businesses Social Media Management account. It’s recommended and significantly increases your account security.
One of the best ways to protect your business accounts from unauthorized intruders is to set up two-factor authentication (aka 2FA) for them. 2FA is an extra layer of security that makes it, so a hacker needs more than just your username and password to get into your business account.
2FA usually plays out as a company sending a randomly generated number to your phone via SMS and asking you to enter it on the screen when you’re logging into an account for the first time on a new device.
As social media platforms are some of the most common sites of account hacks and login shenanigans, taking a little bit of time right now to turn on all these 2FAs will potentially save you time and headaches in the future.
Make Your IT Infrastructure Secure
Once you get your online system set up, it may be worth it to hire an IT consultant (if you don’t have someone in-house) to check your cyber security. Consultants in IT security can evaluate and set up protocols for:
Passwords
System updates
Firewalls
Anti-virus, malware, and spyware software
Data backups
Customer information storage
They can detect places where your business is weak to prevent an attack before it happens.
Carry Cyber Insurance in Case of Emergencies
Even with the best of care, sometimes a cyber emergency can occur, whether through hacking, a data breach, ID theft, or a natural disaster. Cyber insurance can help protect your business in these instances. To start a cyber insurance policy or review your business insurance coverage, call American Benefits Agency at 586-751-3844 or get in touch online so we can tailor coverage to your business.