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CyberSecurity Technology

7 Security Tips to Reduce the Risk to Your Accounting Business

Security is a significant concern for all types of businesses, but it’s crucial for an accounting business. The importance of security in the accounting industry cannot be overstated. 

The risks to your business are serious and could come from many different places. Therefore, you need to take a proactive approach to reduce those risks by implementing strong security measures in your office, on any devices used with sensitive information, and more. 

The accounting profession is a lucrative field that often attracts the wrong type of people. But, whether it’s to steal your data or money, there are a few things you can do to increase security and reduce the risk of being targeted by all kinds of criminals. 

In this blog post, we’ll cover some of the most effective ways to reduce risk and protect your accounting firm from thieves, scams, hackers, and more.

Make Sure You Have Adequate Insurance Coverage

Having accountant insurance to keep your business safe is the first step to protecting your assets. For example, insurance can help protect you from financial loss if your building catches fire or something else happens to it. In addition, if a hacker causes damage by accessing confidential information, the business could be held liable for damages without an appropriate policy in place.

Insurance can also protect you and your employees from identity theft or fraud with cyber protection policies that safeguard against data breaches and provide liability coverage for your company. It can also cover many other potential losses that you might not consider, such as lawsuits from disgruntled employees or court costs if someone gets injured on your property.

Protect Your Office with a Security System

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If the safety of physical assets is at risk for loss due to theft, vandalism, and more – it’s crucial to invest in a security system for your office. It’ll help provide peace of mind while also deterring thieves and keeping you in compliance with local laws.

You can find a solution that fits the needs of your business, whether it’s an alarm or camera system that monitors doors, windows, and hallways – or something more advanced like video surveillance which will also record and store the footage.

Keep All Sensitive Documents & Records Secure 

Accounting businesses deal with a lot of personal and sensitive information – so it’s important to safeguard any devices that are used with confidential data. This includes laptops, tablets, smartphones, and more.

To keep sensitive documents and records secure, make sure to use a password manager that provides secure access with two-factor authentication. In addition, safeguard any devices that are used with confidential information by locking them in an office cabinet or desks when they’re not being used.

When it comes to sensitive documents and records, employees should be instructed on how to store them safely at their desks or in a secure filing cabinet that locks so no one can access them without the correct passcode or keycard.

Review Bank Statements Every Month 

One of the best ways to protect your accounting business is to keep tabs on what’s going in and out. For example, by reviewing bank statements regularly, companies can pinpoint any suspicious activity.

If you don’t recognize some transactions, call your bank to make sure that there isn’t a problem. It’s essential to keep an eye on your finances to ensure that the accounting business is running smoothly and that no one has been able to access your sensitive documents.

Encourage Employees to be Vigilant 

 

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Your employees should be on the lookout for strangers that may be lurking in your parking lot or roaming around outside. By reporting suspicious activity, employees can help reduce the risk of an attempted robbery. In addition, when walking into the office, they should always use a code on their keypad and make sure it locks behind them, so no one is able to enter unnoticed while they’re working.

Employees should also be instructed on how to keep their devices safe. For example, they should be advised to never leave their devices unattended in public and always keep them locked when not using them.

They should also have a security app on all mobile devices that will allow for tracking, remote wiping, and much more. That is why a security app is an excellent way to help reduce the risk of data theft if your employee’s phone is stolen.

Have an Emergency Plan in Place 

In case of a fire or other emergencies, employees should know where to go and what they need to do for themselves, as well as for their colleagues. You should have an emergency plan in place that covers everything from shutting down the computer system to evacuating as quickly and safely as possible.

Make sure you update this plan regularly and train employees on the new procedures. It’s also vital to have an emergency contact list for your business that includes all of the primary players if you need assistance from someone who may not be with you at the time of a crisis, such as a fire or power outage.

Install a Firewall to Block Unauthorized Access to Your Network 

Make sure all devices in your office have been updated with the latest operating system updates, so they’re protected from potential vulnerabilities. Installing a firewall is also an essential step in protecting your data. A firewall blocks unauthorized access to a network, and it should be installed on all of your internet-connected devices, including computers, tablets, and smartphones.

You should also install antivirus software on every device with account information or financial records you use for business in order to protect them against malware and other cyber threats that may cause unauthorized access, data theft, ransomware attacks, and more.

Final Thoughts 

You need to take whatever measures you can to protect your business from potential vulnerabilities. The tips listed above can help you reduce the risk and protect your business from unforeseen threats. Of course, you should always employ the best security measures available to you. 

It’s crucial to take whatever measures necessary to provide safety for yourself, your customers, and your employees – even if it means taking a little extra time to make sure your office is secure.

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