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Cyber-Security...

Posted by Admin Posted on Nov 26 2015

Cyber Threat

In the blink of an eye, all of your internal, client, product, and legal information can immediately be put in jeopardy. In an interconnected world, the threat of a cyber attack is more real than ever. So whether it's a business or your personal information being threatened from hackers, Cyber-Security has emerged as a top priority nowadays.

Are you a Target?

Most of the businesses or individuals do not see themselves as potential targets, but the reality is that… 

   - If you store personal financial information, you are a target.

   - If your company uses online banking (payroll account transfers, wire transfers, ACH transactions, etc.), you are a target.  

   - If your business relies on network and system uptime to generate revenue or keep client records, you are a target.

The scary truth is that many small to medium sized businesses owners do not consider IT security in their risk management plans. In fact, many business owners mistakenly believe that this issue only affects large enterprise.

Don’t let your business fall victim!

Identifying the issue is a key first step in developing a holistic information security strategy. So make it a priority to take the necessary steps to secure your network, and have a back-up plan should a threat to your businesses information become a reality:  

   - Train your users to properly handle suspicious email

   - Harden your network from its initial default condition

   - Remove administrator privileges from end users

   - Review your online banking relationship with your banker

   - Consider cyber liability insurance

Considering Cyber-Security Insurance

This kind of insurance is designed to mitigate losses from a variety of cyber incidents, including data breaches, business interruption, and network damage. A robust Cyber-Security insurance market could help reduce the number of successful cyber attacks by:

  1.    - Promoting the adoption of preventative measures in return for more coverage

  2.    - Encouraging the implementation of best practices by basing premiums on an insured’s level of self-protection.

Many companies forego available policies due to the perceived high cost of those policies, confusion about what they cover, and uncertainty that their organizations will suffer a cyber attack. If you would like to receive professional orientation towards this issue you can rely on us. Fell free to contact us and let us assist in protecting your business from a cyber attack. 

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>Sources: accountingtoday.com and irs.gov<

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