Defend Your Company Against Cyberfraud With These 12 Tips
Below are some recommended best practices you should strongly consider implementing to help protect your business in the online banking environment, thus mitigating the opportunity for loss of funds and the compromising of online banking log-on credentials. This is not an exhaustive list of best practices and you should consult with your own internal IT personnel or engage a reputable IT consultant to better understand your security options.
- Use a dedicated PC for conducting financial transactions.
- This PC should be turned off when not being used for online banking.
- No e-mail, Internet surfing or other applications should be used on this PC.
- Segregate the PC from the business network.
- Utilize a current, up-to-date anti-virus/anti-spyware application that performs regular scans.
- Never provide personal or confidential information to unsolicited requests.
- Do not respond to or click on links from e-mails.
- Monitor all activity daily via online banking.
- Have dual authorization for approvals of financial transactions and maintenance.
- Reconcile all accounts and statements quickly.
- Provide a valid business email address for email confirmations.
- Make sure your business practices separation of duties for all financial functions.
- Secure all sensitive information and documents.
- Contact your bank immediately if you believe there is even a remote chance your accounts could be compromised.
- Purchase insurance to reduce the risk of loss should fraud occur.
There is no guarantee the implementation of one or all of the above mentioned best practices will fully insulate you and your business from any and all cyberfraud. These are simply best practices to limit your vulnerability to cyberfraud.