“You’ve just been hacked” — these four words are enough to send a shiver down anyone’s spine. The internet can seem like a scary place at times. According to CSO, cybercrime-related costs will hit $6 trillion annually by the year 2021 — a sobering statistic for small businesses owners who want to keep their financial information safe online. It’s not all doom and gloom, though. We have four ways you can safeguard your valuable data from hackers.
1. Encrypt Your Data
Encrypted data is like kryptonite to hackers. Basically, it lets you convert important financial information into a completely different form. Think of it as a top-secret code that even the smartest cryptologists can’t crack. Only you have access to the password that deciphers your encrypted data, so you can sleep easy knowing that all of your financials are safe and secure. If this all sounds complicated, don’t sweat it. There are loads of encryption software tools out there that will do all the hard work for you.
2. Change Your Passwords on a Regular Basis
Some people are still using the same passwords from five years ago or more. Are you one of them? If so, you’re just asking for trouble. Changing your passwords on a regular basis will keep hackers at bay and increase your security credentials. Try and use different passwords for different online services, too — even if it makes your life more complicated. According to Entrepreneur, the average person uses only six unique passwords to protect 24 online accounts, according to one study.
3. Sign Up for Security Notifications
Most banks and financial organizations will let you sign up for security notifications, where you receive a message by text or email if there is any unusual activity on your account. This can be a great way to identify security threats before they happen. Talk to your bank to find out more about this service.
4. Watch Out for Wi-Fi
If you travel often as a business owner, you might need to connect to public Wi-Fi spots. If you do, remember to check the internet connection before you go online.
“Before you send personal information over your laptop or smartphone on a public wireless network in a coffee shop, library, airport, hotel or another public place, see if your information will be protected,” says the Federal Trade Commission.
These four tips will protect your financial information online. Encrypting data, changing passwords regularly, signing up for security notifications and taking precautions when connecting to public Wi-Fi spots could save your company a lot of money and hassle.
Related: Click Fraud: How Can Your Business Fight It?