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Keeping your business accounts secure

For all companies, crime is a potential issue. Most businesses are aware of this danger, so take steps to protect themselves.

They lock up their premises, use CCTV and security guards to stop thieves stealing their equipment and materials. Personnel are trained to be security aware, and most firms vet potential employees to avoid taking on employees with a criminal past.

Of course, all of this is important, but there is one asset that many firms fail to protect, and that is their data. In particular, the data contained within their accounting system.

This information is extremely valuable and is increasingly being targeted by hackers and data thieves. Here, we explain why that is, and the steps that you can take to keep your accounts secure.

Why thieves want access to your accounts

Your accounts contain a lot of valuable information. For example, a competitor will pay good money to gain access to a list of your clients. They will pay even more to find out what your overheads are, where you source your cheap materials, and what your profit margins are.

Armed with this information, they can reverse engineer your business model. This can turn a small competitor into a company that targets your customers and grabs them for themselves. It is easy to do, as all they need to do is to undercut you by a small amount, and use your suppliers to get the same deals and compete more effectively with your company.

In addition, your accounts are a doorway to your firm’s cash. Most account systems include details of a firm’s bank account, credit card and debit card numbers. This means that if a hacker gets access to your accounts system, they can potentially steal these details and use them to steal cash from you.

How to protect your company

Fortunately, there are some simple ways to protect your company from this kind of fraud and theft. Here are our top tips:

Restrict access to your account systems

Make sure that as small a team as possible has access to your accounts system. The fewer people have access, the better.

Consider keeping your accounts on a standalone PC or a small closed network. Just be very careful to create proper backups. It is also wise to disable the ability to copy data from your accounts systems via the USB ports.

Use strong passwords

Using passwords containing letters (both upper and lower case), numbers and symbols helps a great deal. Remember to change them regularly as well.

Follow these simple steps and keep your accounts data safe from hackers and away from your competitors.

Posted by Louise
October 28, 2015
Accounts

1 Comment »

  1. […] In this case, we’re talking about hacking and cyber attacks where companies and suppliers you use have had their websites and databases attacked. We cover how to protect your firm from direct data theft in last week’s article. […]

    Pingback by Why businesses need to be aware of hackers | Wainwrights — November 4, 2015 @ 9:32 am

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