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Cybercrime has increased, and will continue to increase, as the internet grows and evolves. Advancements in technology have led to the development of multiple devices, which makes the internet more accessible to everyone.
Generally, it is not only big companies that become victims to cyber crimes; even small businesses fall prey to criminals because of loose security measures. Theft of data is a big threat to small businesses. It is, therefore, important that businesses install preventative measures early on.
The Association of Certified Fraud Examiners (ACFE) has published a study saying that small businesses suffer an average annual loss of $155,000 due to cybercrime.
A company’s data is extremely vital and therefore should be protected to the fullest extent possible. Online fraud may be prevented when certain steps are followed.
Think Before You Click
Most scammers and hackers will target small businesses by sending malware in the form of bogus emails, known as phishing. Employees should exercise caution before opening an email which they received on a company workstation. Suspicious attachments should not be opened. Attachments might contain dangerous malware through which the company’s system may be hacked.
Keep Strong Passwords
Passwords should never be as simple as a birthday, an anniversary or the initials of loved ones. Always make sure your password is a random combination of characters and numbers that are difficult to figure out. Also, never store your passwords on electronic devices; that way you can protect your system from identity theft and a host of other mishaps.
Encryption for Protection
Encryption is vital in order to protect sensitive information that may not be accessed without authorization. A special key or password must be applied in order to decrypt and access the data. This practice is necessary when your business handles a great deal of sensitive information. As a result, criminals will not be able to decipher any of it in order to steal data or money.