By Analytix Editorial Team
When you think of Area 51, the U.S. Air Force facility in Nevada, you likely associate it with UFOs and secrecy.
Guess what comes to mind here at Analytix? It’s the facility’s super-high-level security, which is practically impossible to breach. We know it’s a bit of a stretch, but what if your crucial data and business information has such a security layer? Well, being fully impenetrable may be too much to ask, but how about simply being difficult to penetrate? Some businesses don’t even meet that security standard.
According to the Bitglass 2019 Financial Breach Report, 62% of the data breached in 2019 came from financial services . Across industries, financial services has the second-highest cost per breached record, behind healthcare.
Today, accounting firms are becoming more and more vulnerable to cyber-security threats. Thus, it is important to strive for a business equivalent of Area 51, one that protects the sensitive financial information of your clients and your own business. A single incident of data breach can result in negative consequences for a business, in terms of lost revenue and damage to reputation and growth. With that in mind, here are five ways your firm can help to protect financial data from cyber-security threats.
Even if you don’t have a dedicated IT department, installing a firewall as your first line of defense keeps your computers secured from intruders. A firewall monitors traffic in and out of a private network to secure your system and network traffic. Similarly, a robust anti-virus program protects your computer networks from Trojans, worms, viruses, spyware, and other malware, mitigating the potential risks.
Take some time to run your staff through cyber-security awareness training. Provide real-life examples and statistics, and make your staff aware of all common types of threats. This will help them stay vigilant to suspicious phishing attempts, malicious links, and attachments in emails that may appear harmless. Onboarding is probably the best time to promote cyber-security practices and make your staff realize its true importance.
You must create strong passwords that contain a variety of alphanumeric characters. Also, consider using of software tools to securely generate and remember strong passwords. Having a multi-factor authentication adds an extra layer of security to your operating system, website, and apps. This not only helps you protect sensitive client data, but also makes it much harder for anyone to hack into your account.
Encryption is the process of encoding information in such a way that only authorized parties can access it. This saves your data from getting leaked, even in the case of a data breach. Thwart intruders by choosing an encryption software that provides a hassle-free way to secure files protected by either 128 bit or 256 bit AES encryption.
Keeping your operating system and applications up-to-date is one of the best ways to protect your computer from being hacked. Software updates are important because they include critical security patches to plug security flaws and vulnerabilities, thereby keeping your system secure.
How can we be so sure? As a technology-driven accounting and bookkeeping company, Analytix is well equipped with state-of-art infrastructure that safeguards against any security breach. We are ISO 27001 certified and trusted by businesses and CPA firms in safeguarding their valuable information assets.