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  • Scott Moss

Cybersecurity & Your Company's Bank Account

Updated: May 3

I read a very brief but telling article in Entrepreneur titled I Know How To Easily Steal Money From Your Company's Bank Account. And in the spirit of knowledge sharing, I'm doing so with you. As a small business owner myself, the author definitely had me thinking about the best ways to protect my company from potential cyber thieves. What are you doing to protect yours?

  • Do you have multi-factor authentication configured for logging into your accounts?

  • How about different accounts for receivables and payables with special bank protections activated for each?

  • Are you changing your passwords periodically and where are you saving the old ones to ensure there is no duplicity?

  • Do you have the auto-save inactivated for pre-populating your company credit/debit card info when making online purchases?

  • How are you monitoring the various technologies synched to your bank accounts?

  • Have you set up alerts to be notified about certain activity types and transaction amounts?

  • How about requiring approval or confirmation before those activity types of transaction amounts can actually be completed?

Those measures are what came to mind but I'd love to continually add more to this list. With that, feel free to comment with ones of your own. I hope you all have a wonderful day and continue the journey to Achieve Greatness.

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