7 Tips to Maximise Your Financial Data Protection

Editorial Team

Maximise Your Financial Data Protection

It is very, very important to ensure that your data, particularly financial data, is securely protected. Especially if you are a business, you do not want to run into any problems or issues that may result in financial data loss which in turn will negatively affect your business. Here are 7 tips to maximise your financial data protection:

1.    Check, check, and check before you click on something

Did you know that phishing attacks are still very common, especially for cryptocurrency companies which account for 6.5% of phishing attacks in 2021? Always make sure that you do not open nor click on any iffy emails, particularly ones from emails that your own email system does not recognise! Some phishing emails are sophisticated enough to pass as not spam, and in this case, again check who the email is from, and avoid at all costs in clicking any links on it!

2.    Encrypt sensitive information

Encrypting your data should be one of the first things you do. Once encrypted, even if the files are stolen, it will be difficult to access as the file is encrypted and requires a password or a highly-skilled descriptor to crack the code. Although many companies choose to encrypt only sensitive information, you may choose to encrypt all of your data on all of your workable devices to ensure maximum security.

3.    Backup your data

Simple enough, one way to maximise your financial data protection is to backup your data constantly. Security breaches are not the only way your company may lose important financial data – network crashes or lost devices may also cause data loss. Financial data loss not only impacts you, but can also impact your clients if the data loss includes related data. To prevent this, make sure that you backup your data regularly and that like mentioned, it is encrypted.

4.    Two-factor authentication

Enabling two-factor authentication can safeguard your data, particularly if it requires a password to access it. With two-step verification, not only do you need to input your password, but also a code sent to your mobile phone for example.

5.    Use AI software

AI software with a security feature is excellent when it comes to protecting your financial data. Software like Xelix, for instance, can help not only identify errors and inaccuracies within your financial data, but also can protect against fraud.

6.    Invest in a Virtual Private Network (VPN)

A VPN enables you to use the internet securely on a private network, allowing you to browse privately. This may make it harder for hackers to compromise your data as your actual IP is hidden and cannot be traced unless they’re a true expert in their field.

7.    Delete old files

An obvious way to protect your financial data is to delete old files that are no longer in use! Old files that you are certain are no longer required and not accessed anymore should be deleted permanently to prevent any hackers from acquiring those files in your computer’s Bin. Files are usually kept for 30 days after deletion, but by deleting them permanently, you can avoid the risks. However, remember that once deleted from your Bin, it is deleted forever.