Top 10 Small Business IT Questions
#3 I’m concerned about identity theft, how do I protect myself?
Identity theft for your business is different than identity theft for an individual. Rules governing your business are stricter which could result in greater exposure. Here are a few tips to follow to protect your business:
- Review your banking agreements. There are shorter timelines for fraudulent activity on business accounts. In some instances, if you don’t notice fraud until you reconcile your checking account at month end, it will be too late. Other activity like wire transfers require reporting almost immediately!
- Implement two-factor authentication (two people) for any outgoing wire transfers. Even better, implement multi-factor authentication, using different people and different facilities (email, fax, telephone or special tokens).
- Utilize online banking and increase your reconciliation frequency, especially if your transaction volume is high. Along with online banking, implement an electronic alerting system, i.e. email alerts that will notify you of potential fraudulent activity.
- Use a different computer, than the one you use for email, when accessing your account online. The best set-up is to use one computer only for financial transactions and connect it to your network when you need to access online banking. Make sure that this computer has all the latest security patches and virus upgrades.
- Enroll in Positive Pay with your financial institution. Positive Pay requires a financial institution to process transactions only if information regarding the payee and amount has been provided by the account holder in advance of each transaction.
- Use high security checks and always keep your check stock, deposit slips, and authorization materials in a secured location.
It’s better to be safe than sorry in today’s world. If you would like to better educate yourself on Identity Theft, access the website: www.businessidtheft.org.
Want to know how Array can help protect your business identity and secure your computer systems?