4 Tech Security Risks Entrepreneurs Face

December 16, 2015

12:30 pm

At this point, most people know not to click on suspicious links or send bank account information to people they don’t know. However, entrepreneurs must face other security risks. To keep your business and important information safe, be on the lookout for these four tech-related security risks and their potential solutions.

Fraud

Fraud is still the biggest risk entrepreneurs face when it comes to tech security risks. A study by the Association of Certified Fraud Examiners showed that companies with less than 100 employees lose around $155,000 every year because of fraud.

One simple way to fight fraud is to designate one computer as the banking computer. This computer is not used for social media, email, or web surfing. Instead, you only perform financial transactions on it. As a result, it becomes much harder for outsiders to get access to your sensitive financial data. You should also consistently review your financial accounts so you can try to spot fraudulent activity as soon as it happens.

Cybercrime

Cybercrime can come in many forms, including attempts to steal customers’ the financial information, installing a virus that monitors the company’s future online activity, and shutting down the company’s website. If your business is online, chances are good you have to deal with cybercrime.

In fact, a study by the Ponemon Institute found that 43 percent of companies they surveyed had experienced a data breach affecting their business. To protect your business from cybercrime, the first place to start is your passwords. Don’t use the same password for every account and make sure you and your employees change your passwords at least every two months.

Threat from the Inside

One of the most overlooked security risks often comes from the employees themselves. While this security risk can sometimes be the result of a disgruntled employee, employees often don’t realize their actions are putting the company at risk. Hackers also target employees by using emails or social media correspondence that appears it’s coming from a legitimate organization.

One step you can take to mitigate this threat is to train employees on the importance of information security and safe computer practices. As well, companies offer security software that develops a model of behavior for each user and detects suspicious behavior such as multiple login attempts from the wrong geographical area and inappropriate access to data.

Unauthorized Access to Shared Files

Unauthorized file sharing can be a major risk to your business. According to an M-Files survey, around 46 percent of employees say they have stored confidential company information on their personal file sharing accounts. What’s worse, 56 percent of employees say their companies don’t have a policy in place to prevent this practice. To stop this threat, make sure you have a formal policy in place about file sharing and be sure everyone is aware of the policy.

To protect yourself and your business, it’s important you recognize these tech-related security risks and take steps to stay proactive in preventing them.

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Hailey is a recent graduate with a degree in Journalism. Now that she isn’t face first in books she is trying to travel as much as she can. She writes in her free time between fixing up her new house and teaching people how to live a longer, healthier life.

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