Worried about the security of your business in this fast-moving digital age? You’re not alone, and unfortunately, your concern is entirely valid.
As more Australian small businesses succeed and grow, many of them become targets for insidious scammers, hackers and con artists.
Typically, these cabals are out for your money and as accountants, our expert team has picked up a thing or two about how to keep your finances out of scammers pockets, and in your business.
Consider these five tips and see if your security measures are up to scratch!
#1 Keep Your Credentials Clean With Regular Sweeps
When was the last time you performed a thorough sweep of all your software and accounts?
When it comes to digital, these days you need an email, username, password, two-factor-authentication, phone number and countless other forms of verification, just to log into your programs.
This isn’t including all the admins and employees you’ve given access to over the years.
So, it would greatly behove you to do a clean sweep through your business to take note of the following:
- Are there any admins of your social media accounts that no longer work for you? (Remember, these people can still post to your page and view your ad results)
- Any old software that you are paying for, but no longer using – these bills add up!
- Communicating with your team who has passwords to what devices/software. You may find that your own passwords are out of date.
- Are any former employees still the point of contact for certain accounts or clients? A disgruntled employee may share sensitive information inadvertently
#2 Using Website Plugins? Don’t Get Caught Outdated
WordPress is a fantastic website builder; in fact, over 25% of the internet is built on the site!
If you’re using WordPress for your hosting (or similar) you likely know of “Plugins.”
Plugins add help software and processes to your website, including design elements and forms.
However, they need to be constantly updated: an out-of-date plugin is the most common way for hackers and scammers to exploit your website.
Make sure your IT team, web developer or yourself keep track of plugin updates. This is an especially important duty when your website grows to include dozens, or even hundreds of plugins.
After a new update is rolled out is usually when fraudulent hackers will strike.
#3 Avoid Suspicious Emails & Phishing Links
We’ve all heard of the infamous Nigerian prince who needs you to send him cash. But nowadays, digital scammers have become much more robust and competent in their endeavours.
Always double check the email address of the person you’re liasioning with. This is especially so for bigger businesses whose software you may be using.
Phishing emails typically impersonate personnel from:
- Amazon
- PayPal
- Netflix
A good tip to remember is that an authentic representative (or, for that matter, anyone you’re emailing) will never ask for your username and/or password. Likewise, be wary of clicking any links.
#4 Do Your Due Diligence When Transferring Large Funds
Whether you’re paying a deposit, monthly fee, or a bank transfer, always call the representative and ask them to confirm the account details.
This may sound tedious, but it’s a small price to pay for security.
Cyber criminals will try to steal from your business by sending you fake account details via email, in order to trick you into depositing into their bank account instead of the intended one.
Never underestimate their timing, either: scammers have access to email monitoring software that could alert them to your transfer details.
A phone call to the intended recipient is a safe way to avoid catastrophe.
#5 A Little Cloak And Dagger Never Hurt
Speaking of hackers having access to your emails: if your email address is known to a hacker, then all of your email content is at risk.
This includes usernames and passwords and sensitive data.
For this reason, we always recommend masking your logins under the name credentials, as opposed to username & password. A hacker will almost always head straight for these keywords, but credentials (or another pseudo-name you came up with) is usually overlooked.
This will make it significantly harder for a hacker to track and won’t show up as clearly in their software.
A Final Precaution
Now that your business’s cybersecurity is complete, it’s time to check your finances are in order – and who better than Australia’s most trusted accountants, The A Firm!
If you’d like expert advice on bookkeeping or accounting services for your business, then don’t hesitate to call us today and book in a free meet and greet with our CEO!