Simply managing data can seem overwhelming for small businesses. How can you know your data is secure? Can you promise your customers their personal information won’t be stolen? Are they assured their credit card is safe on your website? While you don’t need to manage every possible data risk on your own, it’s important to know the basics when it comes to data security for small businesses.
Outdated Software
Data theft has surpassed physical theft as the most commonly reported type of fraud. One of the simplest prevention measures you can take is making sure your software is regularly updated, especially your operating system and Internet browsers. Set your software to update automatically overnight, when it won’t interfere with business.
Double check automated functions by confirming the latest version of software is installed, especially when you open a program you haven’t used in a while. Remember, it’s vital you have anti-virus software installed on all your machines and you keep it up-to-date.
Payment Card Fraud
According to Barclays, America accounts for 24 percent of global credit card use, yet 47 percent of its fraud. In 2015, a new law made liable any business without a chip-enabled card reader, called EMV. If you’re still operating without this technology, you must update as soon as possible, for the sake of both financial security and your customer’s data security.
A few other prevention measures will help you prevent card fraud. Ask for identification from customers, so you match the card is its owner. Look over the card to ensure the magnetic strip, hologram, and signature are in tact. For orders online or by phone, always require the Card Verification Value (CVV code). Send order confirmation emails. Be wary of apparently phony email addresses. Make use of the Address Verification Service to verify authenticity of a buyer’s billing address.
Human Error
This a major cause of data loss among small businesses. Employee training in cybersecurity best practices is an absolute must. Every time you update those practices, re-train employees. Consider disallowing access to personal accounts at work. When employees use personal accounts it can lead to inadvertent disclosure.
Security professionals often advise business owners to lay out concrete repercussions for employees who fail to comply with security protocols. While this may seem strict to some small business owners, remember what’s at stake for you and your customers if an employee loses a company laptop or infects your network with malware by opening a malicious email attachment.
Back Up Data
Saving sensitive data on one machine is not enough. You must create backups at regular intervals so you can recover lost data. Backup files should be stored off-site, whether on physical servers in a different location or in the cloud. This ensures you may retrieve your backed up data no matter if it was accidentally deleted or your hard drive was destroyed in a fire. If you use free cloud storage be warned services such as Dropbox and Google Drive may lack a sufficient level of encryption to keep customer data secure.
Open Wi-Fi
If you or your team work on-the-go, you risk sensitive data being stolen while connected to open Wi-Fi. You should discourage use of public hotspots, but with mobile devices’ ability to automatically connect to them, it may occur accidentally anyway. When you connect to public Wi-Fi, or a network that appears as such, there is the potential for other users on the network to see everything you do. Use only encrypted sites and apps when on a public network. Follow (and be sure your employees follow) best practices for using public Wi-Fi. If you have mobile employees, consider using a Virtual Private Network on company mobile devices.
Customer Wi-Fi
The Wi-Fi you use in your business should be secure, encrypted, and hidden for maximum safety. Never open up your private wireless network for customer use. Your router likely has the option to create a Guest Network, which customers may use without accessing your private network and sensitive data. You may also purchase hardware specifically for creating a Wi-Fi Hotspot for customer use.
Keep Learning
Small businesses can use the Federal Communications Commission (FCC) Small Biz Cyber Planner to create a free document packed with actionable advice. The U.S. Chamber of Commerce Internet Security Essentials for Business 2.0 is a free resource designed to educate small business owners on cybersecurity. It offers simple measures you can take to make your business more secure. Best practices for data security change over time, so review your practices regularly to be sure you’re doing everything you should be.
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