Fraud, identity theft and cybercrime are very real threats to the modern day business. Without the appropriate protection, these hazards can deeply devastate your livelihood. That’s why it’s absolutely vital that you take proactive steps to protect your business – both online and offline.

So you don’t run into any of these common pitfalls, we’ve put together some of the key ways you can secure your company in the digital world.

Business team working

1. Secure your IT infrastructure

A business relies on its IT infrastructure as one of its main pillars of operations. There are many ways a business can secure and protect their IT systems, ranging from anti-virus, malware and spyware detection programs, right up to the ultimate security of an IT partnership.

Backing up your business’ data regularly is also essential, and will make it a lot easier for you to continue operating in the event of a cyber attack. If you are unsure what level of IT security you may need, there is a wide range of IT services that can help you ensure your business is protected.

2. Protect your credit cards and bank accounts

From sole proprietors to huge companies, credit card theft is one of the of the most common areas of fraud for businesses. If you’re a business owner, a good way to start protecting your financial information is to separate your personal banking and credit cards from your business accounts. This will mean that anyone who is trying to steal your money won’t have access to all your money in the one place. As well as this, separating accounts makes it easier to account for your business and personal expenses respectively.

After you’ve separated your accounts, be sure to use your credit cards wisely, especially when online. Don’t give your card details to companies, unless you have a very familiar and trusting relationship with them. Moreover, when paying bills, make sure you are doing so securely. Lastly, it’s paramount that you check your accounts daily for suspicious activity.

3. Have a password policy

This might seem like an obvious one, but it is positively integral that you protect all sensitive information with a password.

Protect your IT infrastructure by instituting a password, and make sure it is changed regularly. Using different passwords for different online and system accounts is another way you can compound the security of your business. Furthermore, to increase protection, rules should be set that ensure passwords are complex i.e. contain one uppercase letter, one number and one symbol.

Cyber security employee training

4. Educate your staff

Although employees can be your biggest point of vulnerability when it comes to fraud, they are also your first line of defence.

Strengthen your work team by holding regular training sessions on basic security threats and prevention measures. Make sure everyone is up to date with new viruses, and if any software is to be updated, make sure that your entire staff base is capable of using it. Enforce this training by instituting policies that guide employees on the proper use and handling of the company’s confidential information, including financial data, personnel and customer information.

5. Insure your business

Although the losses from fraud and cybercrime can be devastating, you can still seek to cover your damages by insuring your business. When choosing an insurance policy, make sure you select one that will protect you against any losses that you may incur from crime or fraud. As well as this, it’s a good idea to find out what your bank is willing to do to help you out if your credit card or business account is compromised.

Takeaway

Don’t wait until it’s too late. Secure your business by protecting your IT infrastructure and online systems today. It can be as simple as hiring experienced IT professionals, training your staff and protecting your data. Your livelihood is too important to lose!