Don't be the next victim!

Businesses of all sizes are under constant threat from cybercriminals and malicious software. Even some of the world's largest and seemingly impenetrable organisations are making headlines in recent years falling victim to cyber attacks. Microsoft, Canva, Instagram, Twitter, and WhatsApp have all been targeted in the last month alone. Small businesses are the number one target for fraudsters. It is clear that no business, no matter how small or large, is immune to cyber risks. So what can you do to protect your business from these malicious online threats? 

• Educate your team to be safe online - The very fact that many of your business's IT resources will be accessible to a large number of people in itself presents a security risk. For this reason, it is of the highest importance that your employees are educated on data security and safe internet use. Ensure that you and your employees are informed and understand how to be safe online and how to prevent security risks. 
• Limit user accounts - Restricting IT admin and access rights to a small handful of users is invaluable in minimising the risk of data breaches and security problems. Providing your employees with individual use accounts with standard access right prevents them from being able to modify system files, access administrative resources or install drivers and programs that might modify system settings. 
• Data encryption - Another key piece of the security puzzle is data encryption. With this method, it locks important data and documents away from prying eyes and adds an extra layer of security to prevent any data breaches. Encryption programs and services are available for any devices that contain digital information, including your internet connection itself. 
• Have policies and procedures in place -Having policies and procedures in place in the case of a data breach is vital. It is a requirement by the Office of Australian Information Commissioner that individuals or businesses that have been affected by data breaches, are to be notified if it is likely to result in serious harm to them. Ensure that all team members are aware of the steps and processes that need to be taken if a breach were to occur. 

Tax time is a busy time of year for more than just the tax profession. Criminals are particularly active during tax tme, and it pays to know what you can do to help keep your business and clients safe - exercising caution when downloading attachments or clicking links in emails, text messages, or social media posts, even if they appear from someone that you know. 

By knowing the risks and taking some precautionary measures, you can reduce the risk of fraud and data breaches. Don't be the next victim! For more information visit scamwatch.gov.au, business.gov.au/riskmanagement/cyber-security or contact The Money Edge. 

The Money Edge | Bundaberg