(Newswire.net — September 18, 2020) — The digital world of marketplaces and sharing platforms is full of cybercriminals lurking around every corner. They work tirelessly to find new ways to breach into any business systems, especially organizations providing financial services.
So, you can’t sit idly and hope for the best. It will help if you take precautionary measures to secure your business’ data and keep it away from prying eyes. Here are the top steps you should take.
Automatically Update All Your Software
This may be a bit obvious, but many businesses often forget about it or don’t deem it very important.
Keeping all your software up-to-date means closing any potential gateway through which hackers could crawl in. That’s because software updates come with the latest security patches that deal with various system vulnerabilities.
So, make sure all the updates of your systems are automatic – that way, you’ll never forget about them.
Educate Employees on Cybersecurity Threats and Best Practices
Your employees should be fully aware of all cybersecurity threats, as well as how to avoid them. That’s where regular cybersecurity training comes in.
Don’t look at it as an unnecessary expense – it’s rather an investment into your data security, reputation, and customer satisfaction and loyalty. No one wants to do business with someone who doesn’t safeguard their customer information.
So, train and retrain your employees regularly, ensuring they learn how to prevent and deal with cybersecurity threats.
For instance, some of the most common cybercrime acts are identity theft and online fraud. They usually happen because of phishing attacks.
So, make sure your employees know how to recognize phishing emails and know better than to click on any suspicious links.
Utilize a Password Manager
Having strong passwords is a no-brainer. However, the latest password statistics show that they still remain the weakest link in cybersecurity.
Sure, trying to remember many passwords can be a chore, which is why many people reuse them. But if you do that and use easy-to-guess passwords, you put your entire business at risk.
Cracking passwords is a piece of cake for hackers – unless they’re strong and complex. A password manager can help you generate random, strong, lengthy passwords – all safeguarded by a master password. If anyone cracks it, this tool will instantly change it and lock the intruders out.
Install a VPN
A VPN can be your strongest defense against potential cybercriminals. It can help you keep all your data safe and secure, successfully keeping unauthorized users outside of your network.
A VPN will encrypt your internet connection, cloak your actual IP address with an IP of one of its servers, and hide your entire online activity. That way, no one will be able to target you for their criminal gain.
Even if you try to access your corporate files over any public Wi-Fi, your VPN will encrypt that connection – as long as it’s active on your device.
Use Two-Factor Authentication
Two-factor authentication (2FA) is one of the best ways to prevent cybercrime and protect your data. It protects both your corporate and customer data.
If customers need to share any financial information with you, 2FA will make sure their details remain safe and secure. That’s crucial if they’re paying for your services online.
With 2FA, they’ll receive a one-time password (OTP) or code via SMS, which they’ll use to log into their account or make a financial transaction. It’ll give both you and them peace of mind.
Use a Mobile Identity Verification Service
A mobile identity verification service can be of huge help to financial service organizations or various marketplace and sharing platforms. It can help you verify every customer’s identity and successfully prevent any kind of fraud.
This type of software fully integrates with all your apps and eliminates the need for physical documentation. In just a matter of seconds, your customers can scan their government-issued IDs with their smartphones and leave it to an AI analyzer to accurately verify them.
Using video frame analysis, computer vision algorithms, and numerous other AI-powered analytics, the software will ensure the IDs are original and unaltered. It will be impossible for someone to assume a fake identity to try and commit fraud while doing business with you or accessing your digital platform.
Protecting your data is one of the most vital steps for your business. It helps you run all your operations smoothly, keep your reputation intact, and keep customers safe and happy. So, start taking all these steps today, because they’ll help you run a trusted and profitable business that continuously thrives.