When it comes to cybersecurity breaches, there’s good news and bad news, according to the latest whitepaper from the FPA Research and Practice Institute™ and TD Ameritrade Institutional.
The good news is only 4 percent of firms surveyed experienced a security breach. The bad news is that while larger firms tend to experience more data breaches, smaller firms are increasingly being targeted.
But the whitepaper titled “Cybersecurity: Current Threats and Risk Management” offers readers a list of things to do to mitigate risk.
1.) Create a map of what should happen in the event of a security breach so that your entire team is on the same page.
2.) Update all email systems to limit the potential for phishing attempts.
3.) Frequently scan for potential vulnerabilities. Scan more often than just quarterly or even annually to ensure your company and client data isn’t compromised. It may cost more now, but it will pay off in the long term.
4.) Brush up on your basics. Make sure you and your team both know what things make your data vulnerable and ensure that you’re not doing them. Read our last blog on for some tips on how to keep your firm safe.
5.) Ensure all your and your employees’ mobile devices have safeguards to protect any data that can be accessed on them. Ensure that sensitive data is erased from these devices should an employee leave or get a new device.
6.) Ensure only company-issued hardware and devices are accessing your company network.
7.) Identify what data must be encrypted and properly encrypt any sensitive data that is sent via email.
8.) Do not use personal email accounts for business. Create and enforce a policy that prohibits or limits employees from using personal email for work-related correspondence.
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