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Equifax Data Breach – 9 Ways to Protect Your Business

Equifax Data Breach – 9 Ways to Protect Your Business

Consumers have been the target of most of the fraud prevention measures the Equifax breach highlighted. However, there are many things business owners should also put into place in highlight of this case.

Here are nine steps you can take to help protect your business. The first step is to act quickly and review your current security protocols and measures.

  1. For new clients that may be logging into portals and online systems, consider upping the account access information to include additional questions only the user would know the answer to.
  2. Using multi-factor authentication and/or pins on accounts with sensitive information, such as medical accounts, tax record accounts, business-related accounts, etc.
  3. Consider biometric authentication (such as thumbprint recognition) for sensitive accounts. Banks are beginning to adopt this technology for online apps.
  4. Verify client information in your system. If accounts have not been updated in a while, request that a profile review be conducted by each system member.
  5. Share information about data security, your measures to combat security breaches, and how you would communicate with employees and account members. This is often placed on a web page, such as Security Measures or Terms and Conditions.
  6. Update the company’s contact information and help desk support ticket system with a “data breach” button or drop-down menu item. That gives account holders a chance to notify you that a breach may have taken place and alert the technical team about it.
  7. Train staff on security measures, fraud warning signs, phishing schemes, and response protocol.
  8. Build a crisis communication and/or response plan that can be executed quickly. Digital Solutions offers a nice checklist to emulate.
  9. Monitor frequent ports of fraud entry, such as websites, online portals, apps, membership services, etc. for any frequent “attacks.” Google’s Webmaster tools are good on the website level, along with WordFence for WordPress sites. SSL and TLS Certificates are also good on the web hosting level. However, these tools are not fool-proof. Additional measure many be needed by your IT team.

A data breach, at any level, is a concern for both businesses and consumers. The time is now to check your systems, implement data security, and monitor online activity.

Need help?

If you need assistance implementing these steps, upgrading your current system, or are in need of training, give us a call. We specialize in IT systems for businesses.

 

Artificial Intelligence in the Accounting Profession – What it means for you.

Artificial Intelligence in the Accounting Profession
Photo: Jack Moreh

Artificial intelligence has been infiltrating many industries, from stock trading to online shopping. The accounting profession is also leveraging it.

Here’s how and what it means for you.

According to this ICAS article, robotics in the office may become a normal experience to crunch numbers and sift through data on a daily basis. This is becoming more widely used in the stock trading and investing industries.

However, it doesn’t stop there. Auditors are now using it to help in evidence gathering and production of complex data reports. IBM’s Watson helps accounting firm KPMG to sift through thousands of pages of contract documents and quickly summarizes the contents.

Repetitive tasks like bookkeeping and managing financial processes have also been tested with AI technology; resulting in “businesses and public sector organizations to spend more time and money understanding how automation can enhance current operating models,” stated one Deloitte report.

L. Gary Boomer comments in the March edition of Accounting Today, that for firms that are “ready to disrupt the market with rapid delivery of digital products and services combined with algorithms, workflow, project management, and access to digitized information” will quickly meet the demands clients are creating.

These changes will not eliminate the need for accountants, but rather arm them with the power and technology to provide additional services, anytime anywhere. It also frees up the time spent with clients to focus on how to move your business forward, such as with business planning, controls, and succession.

“With our dedicated IT service line, we are poised to help businesses make the right moves in the digital marketplace,” commented John Seale, CPA and CITP and managing partner at RBSK Partners PC.

“Remember,” he adds, “AI might be able to identify the smart move, but accountants will be able to identify the right move for you and your company.”

If you’re a business owner seeking accounting services combined with a digital edge, contact us today.

Who is RBSK IT Consulting?

Did you know RBSK Partners PC has an IT Consulting division, RBSK IT Consulting? We have been providing Technology Consulting services to small and medium sized business for almost 20 years. RBSK is located in Greensburg, Indiana with remote offices in Brookville, Batesville, and North Vernon. We currently serve technology clients in Central and Southeastern Indiana.

It all started when the need arose to provide our accounting and tax clients with the latest in accounting technology. Soon after, the technology side of the business expanded beyond just accounting clients. We currently provide IT services to businesses of all types; local government, non-profits, trucking companies, insurance agencies, law offices, farmers, doctors, manufacturing facilities, and more.

RBSK IT Consulting provides Managed Services that allows our IT professionals to proactively monitor, manage and maintain your network for a flat monthly fee. Our Managed Services range from an All-You-Can-Eat model which covers your entire network, to individual services such as hosted email and antivirus, and everything in between. Our IT Consultants can help you with Server/Network design and implementation, recommendation and procurement of hardware/software, server virtualization including hyper-converged solutions, network security, wireless technology, backup & disaster recovery, and much more.

Technology is often on the back burner for many small business owners. RBSK IT Consulting can help bridge the gap between daily operations and technology. To better serve our clients, we have partnered with many of the technology industry leaders such as Microsoft, Dell, Scale Computing, Trend Micro, Altaro, and StorageCraft. Check out our new website, RBSKit.com, and contact RBSK IT Consulting today for your FREE IT Assessment! 812-222-1558 or help@RBSKit.com.