Is Your Company Data Safe and Secure?

Ransomware — a malicious cyber attack in which criminals hijack your personal data and threaten to publish and/or permanently delete it unless a fee is paid — is skyrocketing in popularity. In 2015, roughly 3.8 million ransomware attacks were reported globally. 2016 saw more than 638 million attacks. (In other words, an average week in 2016 saw more than triple the ransomware attacks that occurred in the entire year of 2015!) And these numbers are only expected to rise for the year of 2017.

This terrifying surge in cybercrime has highlighted a fact that experts have been warning about for over a decade, now. The vast majority of businesses and organizations simply aren’t taking cyber security seriously enough. A cyber attack could cost you serious money and cause irreparable damage to your reputation. Are you prepared?

Here are a few tips that you should consider:

● Manage systems wisely. The odds are good that you are storing company data and customer information in at least one software system. How carefully do you manage access to that software system? If you are using the standard security settings instead of your own custom configuration, then there could be holes in your strategy.

● Prevent employee error. Are your employees thoroughly educated on topics such as phishing, malware, hacking, ransomware, and other cyber scams? If you are not providing adequate employee training in this subject, then you could be held responsible for any security breaches.

● Choose third party partners carefully. Outsourcing business processes to third party partners can be extraordinarily efficient — but it does come with a great deal of responsibility, as well. Choosing companies that are experienced, respected, and professional is crucial, because a security breach on their part could affect your customers, your employees, and/or your business.

● Follow standardized hiring/firing procedure. A disturbing number of security breaches have occurred due to accidental or deliberate actions on part of former employees. This is why conducting background checks and handling layoffs in a responsible manner is a crucial component of company security.

For more tips on cyber security, business administration, and employee management, visit Precise Payroll online today.