December 20, 2022

How to Keep Your Business’s Financial Data Secure & Safe

“Security isn’t something you buy, it’s something you do, and it takes talented people to do it right.” – John Chambers

If your company’s sensitive financial information is not safe and secure, you can suffer from financial and intellectual losses, brand damage, and even lost customers. Check out these helpful ways to help kick-start your financial data protection:

1. Create strong passwords and change them often.

Create strong passwords that are difficult to remember. Passwords are the most likely means for others to access your sensitive financial data. A strong password protects your data from unauthorized access. Changing your password regularly, preferably every three months, also helps to keep your information safe as it makes it harder for someone to hack into your system.

2. Use multifactor authentication.

This level of security is critical if your password has been compromised in a data breach. Even if an attacker learns your password, they won’t be able to access your account since they don’t have the second factor, which is usually a text message code. Multifactor authentication is implemented in different ways, including the use of hardware tokens, one-time passcodes (OTP), and push notifications.

3. Update your software regularly.

By regularly updating your software, you reduce the risk of your company being exposed to software security flaws. There should be a company-wide policy to update all software within a reasonable timeframe.

4. Be careful with your emails.

Email correspondence is one of the most common methods used to steal sensitive financial information from businesses. Attackers do this by sending phishing emails that appear to come from a legitimate source, such as your bank. When you open the email and click on the link, you’re taken to a fake website that looks like the real thing. The attackers can then use this opportunity to steal your login credentials or infect your device with malware. It is important to train all employees to be able to identify phishing emails. They should also know how to report suspicious emails so that you can take appropriate action.

Book a call with me and we will work together to ensure the security of your financial data is solid!


melissa headshot

Hi there! My name is Melissa.

I’m a bookkeeping professional with over 14 years of experience. I specialize in supporting homebuilders with their financial management needs. I founded Turquant Business Services to bring clarity to bookkeeping for builders.

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