In the past, theft was done physically with guns, arms and even the falsification of data. However, these days, it is done through mobile telephones and laptops. Gone are the days when you protect your business premises with giant steel vaults and security guards.
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These days, theft occurs through cyberspace, when cybercriminals can hack into corporate or individual unprotected IP addresses. Bank robbery is now virtually executed in our contemporary world. These days, because businesses are now transacted online, and sensitive data are either stored or transferred from one place to another through the use of computers, cybercriminals are sniffing around to get passwords and other sensitive access codes to hack into the business system, to steal files or withdraw company’s money.
There have been cases where hackers hack into the company system and divert funds. There are times when hackers can create a copycat website of your business website, posing as you and executing several transactions without your knowledge. It is therefore, very important that we analyze ways we can be ten steps ahead of hackers. In this article, we shall look at six ways to protect our businesses from cyber theft and payment fraud.
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Use Two-Factor Authentication For All Private & Business Logins
Two-authentication is very pivotal for small and big businesses, and even individuals. How does this authentication work? This two-authentication consists of either a verification email sent to a predestinated email address or a code link sent to your cell phone as an SMS message. This authentication is provided by third-party authenticators like Google, Apple, Facebook, and other trusted providers. The merit of using third-party authenticators is that they alert you when someone tries to illegally log into your business or personal emails, websites, and social media accounts. Before anyone can log into any of these platforms, these authenticators will ask for affirmation actions, such as pressing a button on the app before login can take place.
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Choose a Secure eCommerce Platform
When creating an e-commerce platform for your business, it is advisable to use a platform that has a track record of security and reliability. Therefore, use a well-vetted programmer who can know the right platform to use. When you choose to use a cheap platform or self-made platform that is not sophisticated with double-checking security, you fall into the hands of hackers and cybercriminals. Therefore, I recommend Shopify, Magneto, among other platforms.
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Don’t Store Customer Payment Data
As a business person, don’t fall into the risk of storing payment data. Of course, there are times you might need to store data for various reasons. What does it mean to store payment data in an unsafe manner? It means leaving sensitive data information without securing it. Hackers can, through your payment data, steal into your bank account and withdraw all your money. If you need variable or recurring billing, set up a tokenization system with your gateway. It’s safe, simple, and protects you.
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Install An SSL Certificate for Your Site
What is an SSL? It is the abbreviation of Secure Sockets Layer or SSL certificate. Now, have you ever observed that small little lock icon to the left of the URL when you visit most websites? That little icon is a symbol of security. The site with that little icon showing on it shows that the website is “HTTPS” instead of “HTTP”. The “s” means secure. If you have a website and it doesn’t have the little lock icon on it, it means your website is under threat. Therefore, get a sound developer to install an SSL certificate for your site.
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Use a Personal Verification System
If you want to register your business on a platform, maybe you want to create a website for a company or set up a payment platform for your company, where your customers can pay you, ensure that the provider demands your verifications. Don’t rely on providers that don’t have a personal verification system. For instance, some payment apps might request that you submit your national identification number or your bank verification number, or your driver’s license.
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Always Use VPNs As Gateways To Access Data
VPN means virtual private network. This ensures that only you can access whatsoever database that is private to you. It is how to protect your server, which houses sensitive data, from everyone else but you.
Featured Image Source: The Economic Times
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This article was first published on 2nd December 2021 and updated on December 13th, 2021 at 2:27 pm
nnaemeka-emmanuel
Nnaemeka is an academic scholar with a degree in History and International Studies from the University of Nigeria, Nsukka. He is also a creative writer, content creator, storyteller, and social analyst.
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