Cybersecurity Measures to Secure Your Accounting Firm
Introduction
Accounting firms deal with very private and sensitive information belonging to different clients. This makes them a prime target for cyber attacks, as the attackers can easily access critical and sensitive data. The worst effects of a data breach include loss of customer loyalty, legal actions, hefty fines, and more. Thus, it is essential for accounting firms to develop solid protective mechanisms against cyber threats. The following are some valuable strategies for protecting accounting firms against threats.
Use Strong Passwords
A fundamental mitigation step against cybersecurity threats is the use of robust password protection mechanisms. The password issue remains one of the biggest company threats since most data breaches stem from weak passwords that can easily be hacked. Ensure all your firm’s systems and accounts are secured with fortified passwords.
– Should contain a minimum of 10 characters
– An uppercase letter, lowercase letters, numbers, and symbols
– Should steer clear from using dictionary words and their details
– Change passwords frequently
You can also consider using a password manager to track your credentials and passwords. It will create and safely remember complicated distinct passwords for all your profiles.
Install a Firewall
The firewall works as a barrier to anyone who may wish to have access to your firm’s systems and the information stored in them. It observes the traffic flow in the network and prevents threats such as malware, ransomware, phishing attacks, and many others. Enter a next-generation firewall and set up this appropriately for the best physical security of your business against cyber threats.
Prioritize Data Encryption
Encryption distorts the content into a form that the user cannot understand with the help of two keys: one for encoding and the other for decoding. It is designed so that only those possessing the decryption key can view the information. Use encryption, especially where data is being transferred from the client side or is being stored. It guarantees data security if it is leaked or accessed maliciously by unauthorized individuals.
Manage Access Controls
Your employees do not need every piece of information available when working in a firm. Restrict the physical and logical access to weapons systems and other information confidential to only authorized personnel. People should not have access to your site if they are no longer employees of the firm; this access should be withdrawn as soon as the employee resigns. When implementing the access control system, it is essential to ensure that it is stricter to minimize the damage in case any account has been penetrated.
Keep Software Updated
Customers receive regular updates and patches for their systems from vendors due to the constant discovery of new vulnerabilities. Ensure that your network’s operating systems, software, and applications are connected with the latest available patches. This helps to avoid a situation whereby the hackers have discovered specific weaknesses in your firm’s software and are likely to attack the firm. Incorporate self-updating systems to minimize manual intervention when applying updates.
Secure Endpoints
Endpoints are all the devices connected to your firm’s network, such as laptops, desktops, mobiles, etc. Before the attacker penetrates the organization’s inner network, he must go through the endpoints. Lock all PCs to ensure no unauthorized access or penetration occurs, all disks are encrypted, all computers have a good antivirus program, firewalls are correctly installed, and all software and operating systems are updated frequently with security patches. Also, it is necessary to apply a policy for managing mobile devices in case employees use their own devices for work.
Back-Up Critical Data
It is essential to practice regular data backup of your firm’s facts and data storage offline. They can cripple an entire network by encrypting the data that is stored on the server and other connected devices. And the offline data backups are valuable for business continuity if any systems get affected. It also helps you to erase contaminated computers and recover the information from the ones free of viruses.
Outsource Your Security Services to a Third-Party Managed Security Service Provider (MSSP)
If you have budget constraints or lack security effectiveness, it is better to employ a MSSP. MSSPs constantly oversee, regulate, and improve your firm’s IT security all through the clock. It is crucial to note that they incorporate sophisticated measures such as SIEM, threat intelligence, and even machine learning algorithms to offer superior protection.
Implement Security Surveys and Assessments
It’s important to organize security audits from time to time to establish any shortcomings or gaps in the firm’s security measures. Internal audits can be conducted by the company or its employees, or you can hire a third-party auditor. Also, perform exercises such as penetration testing, vulnerability, risk assessment, etc., to determine your readiness to combat cyber threats. Apply the results when enhancing your firm’s security measures to reduce vulnerability and risks.
Conclusion
Accounting firms deal with susceptible client information more so in today’s elevated cybercriminal activities. Through the measures discussed in this article, you can safely provide your firm, clients, and employees the protection from increasing threats. Cybersecurity must not only be a one-time focusing point but must constantly form part of your firm.
