Online Banking Security Tips

Online banking is a godsend for many people, especially small business owners who don’t always have the time to run to the bank to make deposits or transfers.

However, small businesses also have more to lose if cybercriminals hack their accounts because they don’t have the same protection laws that individuals have, thus making recovery of stolen funds more difficult.

Not many small businesses have loads of money to hire a top-notch IT group to protect and manage your business network, so here are some tips for protecting your bank information from thieves.

1. Never trust emails that ask for personal information. These will have the message that your account has been hacked, so follow this link to change your password. This is a classic example of a phishing scheme, where the hacker tricks the individual into clicking a bogus link which then records each and every keystroke you enter. With one simple push of a button, you’ve given a hacker complete access to your bank account.

If in doubt, call the bank directly to check the validity of the email or open the bank’s website in a new browser window and login that way.

2. Dedicate one computer for only banking activities. Phishers can very sneakily install malware onto your computer from any live link you happen to click while online. Legitimate-looking links that you click while on your lunch break might just be a phishing link so if you do your banking after your net-surfing break, you could fall victim to theft.

Using just one computer for all banking transactions will further prevent the likelihood of clicking on a suspicious link.

3. Secure your computers, servers and mail servers with up to date software. There are myriad security solutions available so do your research well. Be sure the company you choose updates their software regularly and don’t skimp on the price. Free software won’t provide the same protection as a paid software or service which provides monthly or weekly updates.

These steps are very easy to implement and will keep your business’ most important information secure.

Start this week by doing some internet security research, training your employees to never click on suspicious links, and talking to your bank about their processes and protection of business accounts.

For more information, click here.