fbpx
Cybersecurity is an ever changing game - accounting services - Bokkeeper live

Cybersecurity is an ever-changing game. As hackers become more sophisticated and determined, it’s important for businesses to stay one step ahead of them.

Your business may be at risk of a data breach or other cyber security incident. In order to keep up with the ever-changing nature of cyber threats, your cybersecurity strategy must evolve as well. It should come as no surprise that hackers are after your company’s financial information now that data has replaced money as the primary form of exchange.

The number of data breaches at business firms increased by more than 80 percent between 2014 and 2020, according to the American Institute of Certified Public Accountants. The average ransom demanded by small businesses is approximately $100,000, whereas the average demanded by large corporations is approximately $2.6 million.

Businesses have a responsibility to protect their clients’ data. The increasing frequency of cyberattacks on businesses is evidence that cybersecurity threats are real and growing. In the past few years, many firms have been hit by such attacks, compromising client information and putting their reputations at risk.

Amid this newfound awareness of cybersecurity threats, businesses will need to begin taking cybersecurity more seriously in the near future. Comprehensive security strategies are built on the foundation of adherence to cybersecurity controls, which must be strictly adhered to.

Businesses must realize that they are not immune from cyberattacks and take steps to improve their security posture. They should conduct a thorough assessment of their current systems and identify weaknesses that could lead to compromise of sensitive data or disruption of operations. Once identified, these weaknesses can then be mitigated by adopting appropriate measures such as encryption or advanced access controls.

On the other hand, impromptu security implementation is not recommended in most cases. Prior to putting any cybersecurity measures in place, you should have a plan in place to follow.

Attacks on companies’ information systems are a major source of concern, and the following are a few important points to keep in mind:

IDENTIFY SECURITY ISSUES

identify security issues - accounting services - Bokkeeper live

Cybersecurity threats pose a major risk to businesses, but many companies are unaware of the extent to which they could be targeted by cybercriminals. While there are many ways to mitigate this threat, it is necessary to train your employees on what they can do if they encounter such a threat. It is critical that your accounting firm’s employees receive security training. When it comes to cyber threats, your employees must be aware of what your company is vulnerable to as well as how it could be targeted by cybercriminals. It is necessary to provide instruction on how to recognize phishing emails and the different types of attacks that they may encounter.

If specific access control protocols are in place, employees must also receive training in order to comply with them. In order to prevent them from wreaking havoc, they should be made fully aware of the ramifications of their actions, both intentionally and unintentionally, before taking any action.

THINK ABOUT YOUR CLIENTS

think about your clients - accounting services - Bokkeeper live

In business, you can protect your company in a variety of ways. One of the most expensive and comprehensive ways is to purchase an advanced security system with continuous monitoring for both physical and virtual threats. You also have a responsibility to protect your clients’ financial information. Strict privacy policies and security systems that integrate with your accounting software are necessary to guard against cybercriminals who may try to steal from your clients using malware or phishing scams.

An attacker can gain access to your company’s network by exploiting a security vulnerability on the client’s end. When assessing their needs and requirements, clients must ensure that data security regulations are adhered to. A strategic partnership is possible if you think their security is not up to snuff. Refer them to your trusted IT or cybersecurity partner for assistance. This will both help your customer and establish a relationship of mutual trust with the service provider.

KNOWING VULNERABILITY

knowing vulnerability - accounting services - Bokkeeper live

Businesses must reduce the number of possible exploits that a cybercriminal can use to gain unauthorized access to their networks, devices, and data. Once a criminal gains access to the information, they can either sell it on the Dark Web or hold it hostage for ransom.

As a result, you and your company’s security partners must identify potential entry points into the network as well as other vulnerabilities that could be exploited. As a result of the pandemic, there has been a significant increase in the use of cloud-based applications and remote working. Because of this, the attack surface has increased. Some employees have also been able to work from home because of the company’s network security protection. In this situation, the laptops and home computers of employees become attack surfaces. Because of this, companies will need to expand their security measures to include employees who work from home or from other remote locations.

An effective strategy for protecting employees and their work equipment from data breaches should be in place, regardless of where they are located.

THIRD-PARTY PLAYER

It is impossible to run a business in a vacuum. It allows third-party vendors to provide a wide range of services to customers. Third-party data breaches have resulted in data breaches at some of the world’s most well-known companies, according to the FBI. Taking IT security provided by third-party vendors for granted is one way to avoid this situation in the future. Additionally, a third-party audit should be included in your cybersecurity strategy in order to learn about the security measures in place and test their effectiveness through penetration testing. By doing so, you can be certain that these vendors are not putting your network at risk of security breaches.

PLAN BEFORE IT HAPPENS

Although your accounting firm may have the best cybersecurity infrastructure available, a data breach is still possible. Is there anything you should do in the event of a data breach at your accounting firm? Does your company have a backup system in place to protect your data? If you haven’t done so already, you should consider doing so. When a malware attack occurs, you must have an effective business continuity plan in place to ensure that your company continues to operate smoothly. No, I’m afraid I don’t have it. If you haven’t already, start the application process as soon as possible because it is becoming more and more difficult and costly to get a job.

We all know the internet is full of scammers and criminals that are ready to steal any piece of information from an unprotected computer. BookeeperLive has a tried and tested system for ensuring the security of their client’s personal, financial, or business information. If you have ever been lied to or stolen from by an online company, you’ll be happy to hear that BookeeperLive is the opposite of all those companies together.

You’re safe with us. Contact us for accounting services.

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on pinterest
Share on google
Share on skype
Share on telegram
Share on email

Services of Covid-19

Partner With Us For Any Of Your Accounting Needs

Sign up for a free trial.

Copyright © 2021 BookkeeperLive. All rights reserved.