Protecting Corporate Data: A Guide For Business

July 17, 2023
Photo by Pixabay from Pexels

All business owners no doubt understand that company data is of paramount importance to the strength and vitality of their business and, equally so, safeguarding it. Data theft can wreak havoc on the day-to-day operations of businesses, from the newest startups to small businesses and even the largest corporations. Protect your business from the lurking dangers of cybersecurity attacks by implementing robust security measures. Let’s explore some of them.

How to protect your company’s data

Create an IT security strategy

No matter how big or small your business is, it is important to have a robust IT strategy in place. This will shield your organization from security breaches and other data vulnerabilities. It should be meticulously crafted, including ways of protecting company data and solutions for when things don’t go as planned—from precious customer information to sacred employee access and even delicate credit card details. Update your strategy and ensure that it remains easily accessible.

Secure your network and computers against malware

Take your cybersecurity to the next level with malware detection software, regular backups, and a firewall. Malware detection software will safeguard your valuable information from the clutches of cyber threats. And in the event of a successful attack, regular backups will facilitate a seamless recovery process. A firewall is a formidable guardian that stands between your network and the vast digital realm, meticulously scrutinizing every single byte of network traffic and fortifying your system as the very first line of defense. It effortlessly identifies and swiftly neutralizes any unwanted elements that dare to breach your network.

Institute a password policy

While we understand that no password can claim invincibility against the cunning hackers of our time, unwavering adherence to a meticulously crafted password policy will no doubt fortify your defenses and pave the way to a secure future. By implementing an additional layer of protection with two-factor authentication, you can rest easy knowing that even if someone manages to guess your password, they will be blocked at the next level. To truly fortify your defenses, we recommend creating passwords that are not only robust but also dynamic, with a minimum of eight characters sprinkled with a number, an uppercase letter, and a symbol and changed every 60 to 90 days. This trifecta of security elements will leave hackers trembling in their virtual boots.

Enable automatic software updates

Stay one step ahead of potential threats by keeping your software up to date. By regularly updating, you can rest easy knowing that any security breaches or bugs will be swiftly resolved, leaving no room for compromise. Not only do these updates prioritize your safety with top-notch security updates, but they also go above and beyond to elevate your user experience with a range of exciting new features. Empower your devices with automatic updates today!

Conduct background checks on prospective new hires

Corrupt employees have the power to unleash a devastating storm upon your business—esteemed clientele slipping through your fingers, erosion of your hard-earned reputation, the downward spiral of your sales and profits, a distressing decline in service and product quality, and a strain on your once harmonious relationships. Don’t let their deceitful actions sabotage your success. Make impeccable hiring decisions by implementing essential background checks on potential candidates. This is especially crucial for individuals entrusted with the responsibility of safeguarding your precious assets, financial resources, and confidential data.

Dispose of company data properly

There comes a time when some business data will no longer be relevant and have to be disposed of. In order to minimize the risk of security breaches, it is imperative that they be disposed of properly—an effective data destruction policy needs to be in place. Just a heads up, just because you delete files and folders, format the hard drive, or reinstall the operating system does not mean that the data is completely gone.

Educate your employees

Your employees possess the power to become your greatest vulnerability when it comes to cyberattacks. However, let us not overlook the fact that they also hold the key to becoming your very first line of defense. Incorporating regular training sessions into your routine will undeniably help you master the fundamentals of security threats and prevention measures. These training sessions need to be enforced with the establishment of policies to guide the appropriate use and management of sensitive company information. Introducing a policy that prioritizes the verification of identities is an absolute must. Whether it be through a simple Google or social media search or with the use of a reverse phone lookup, employees must be empowered to effortlessly verify identities.

Dedicate one computer to banking

Vulnerability levels are remarkably lower when the computer used for financial transactions is used solely for that purpose—no social media, internet surfing, or email. Along with a recommendation to completely avoid mobile banking, Forbes magazine made this suggestion.

Protect your credit cards and bank accounts

Both employee-based businesses and sole proprietorships share financial fraud as their number one concern. Business credit cards and banking must be kept completely separate from personal finances. That way, if fraudsters are able to successfully compromise your corporate account, at least they won’t be able to access your personal account, and vice versa. In addition to reducing the risk of fraud, maintaining separate accounts also makes it easier to keep tabs on your company’s expenses.

Using your credit card responsibly is just as crucial. Never give out your card number or other sensitive information to anyone who isn’t a verified business partner. Use internet banking as much as possible, and if paper bills are required, make sure they are handled and stored safely. Keep a close eye on your accounts on a daily basis to catch any strange activity quickly.

Verify all invoices and payments

In no case should a large payout be the consequence of an unexpected email, phone call, or invoice templates; instead, you should have clear protocols in place for authorizing expenditures or invoicing. Reduce the number of people who can make payments and buy things. Make sure that everything on your invoices was actually ordered and delivered before you pay them. It’s probably a scam if the other party insists on being paid with a gift card, wire transfer, or reloadable card. Maintain a state of vigilance.

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