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  • Content Experts: Accounting

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    ACCOUNTING: PROTECTING YOUR FINANCIAL DATA FROM RANSOMWARE AND CYBERATTACKS
    More than 70 percent of cyberattacks are on small to mid-size businesses (SMBs) with less than 100 employees. Of those SMB companies, 60 percent go out of business within six months. Why SMBs? Smaller businesses typically have less secure networks, making security breaches easier.

    For several years, ransomware was the fastest growing malware. It works by gathering up and blocking access to your information until a sum of money is paid. Even if the ransom is paid and you get your data back, it is extremely likely that your data are still out there waiting to be sold.
     
    The use of cryptomining has increased and is becoming a popular choice for malware criminals. Unlike ransomware’s very noticeable lock-out and single ransom, cryptomining is inconspicuous and provides the criminal with a stable and potentially continuous flow of information that results in multiple collectible funds from the victim. In the first half of 2018, cryptominers affected 42 percent of organizations worldwide.
     
    It’s not IF one hits you, it’s WHEN. Are you ready? Here are the top things you should do to prepare:
    • TECHNICAL RISK ASSESSMENT – This assessment reveals network vulnerabilities.
    • CYBERSECURITY TRAINING – Employees are the biggest risk and should receive proper training to eliminate accidental breaches.
    • CYBERSECURITY POLICY – Every business should have a cybersecurity policy, which must include enforcement of safe passwords. 
    • RELIABLE BACKUPS – Backups should be verified, and companies should have policies on backup frequency, location (on-site, off-site or both) and retention periods.
    • NEXT GENERATION FIREWALL AND ANTI-VIRUS/ANTI-MALWARE PROTECTION – The new generation of these products provides better protection than earlier models.
    • MOBILE DEVICE MANAGEMENT – A good device management tool allows you to wipe the data from employees’ personal devices, should the device be lost, stolen or if an employee leaves.
    • MULTIFACTOR AUTHENTICATION– This method of computer access control only grants employee access after successfully presenting several pieces of identity verification.
     
    When it comes to protecting your financial information, it’s imperative that you implement strategies to prevent attacks before they happen.
     
    Meet the Expert:
    Emily Jones, PMP, CABM, MCITP, Warren Averett
    Emily Jones serves as the Practice Leader and Director of Operations for Warren Averett Technology Group. Emily.Jones@warrenaverett.com / 334-260-2238
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