Cyberattacks have become a major concern for all industries, including (if not especially) the accounting industry. Confidential and sensitive data, along with financial details in their care, make this industry particularly attractive to cybercriminals.
How can you best protect yourself and your business?
What is cybersecurity?
Information security, data security, digital security... there are several terms for this field, and what they all have in common is that they pertain to cybersecurity. This refers to the practice of protecting systems, networks, and data from digital attacks, unauthorized access, damage, or theft.
Why is the accounting industry a target?
There are several reasons why the accounting sector, in particular, is a favored target for cybercriminals.
Confidential Information:
Accounting firms have access to sensitive client information, such as banking details and tax information.
Financial Transactions:
Regular money flows present attractive opportunities for attackers.
Access to Multiple Companies:
Compromising one accounting firm can provide access to the data of many clients.
These are the major cybersecurity challenges faced by the accounting industry:
Phishing Attacks:
Cybercriminals can deceive employees into revealing sensitive information. This is often done via a highly credible email, text, or phone call. According to the PwC Cybercrime survey 2022, 8 out of 10 IT leaders had experienced phishing attacks that year.
Unprotected Devices:
Employees using personal devices for work may be more vulnerable.
Outdated Software:
Older systems without updates are easy targets.
How you can improve security:
It's crucial to take measures to protect the business and its employees.
Regular training:
In today's society, one or more employees in the company usually have responsibility for IT security, and this job is never-ending. The key is to stay continuously updated on threats, new methods, and, most importantly, keep all employees informed about best practices. Share information across the board and conduct internal tests to see how vulnerable systems and/or employees are to potential attacks.
Two-Factor authentication:
Add an extra layer of security at login. This is a very simple method for an additional security layer that everyone should adopt.
Updated systems:
Ensure that all software and systems are regularly updated.
Backup solutions:
Regular backups can save data in the event of an attack.The primary goal of cybersecurity is to safeguard information, systems, networks, and technologies from digital attacks and unauthorized access.
In today's technologically advanced society, cybersecurity has transcended its role as solely an IT concern; it has evolved into an imperative necessity for actively combating the ever-growing threat of cybercrime.
Given the valuable data they handle, accounting firms must make robust cybersecurity measures a top priority in order to safeguard both themselves and their clients.
Been attacked?
While it might seem daunting to be open about cyberattacks, it actually has a broader significance for the industry as a whole. By sharing information about threats and breaches, businesses help each other understand and prepare for current risks.
This collective awareness strengthens everyone against future threats and fosters a culture of collaboration and mutual protection in an era where digital security is paramount.
Cybersecurity in Compello
Your user data is safe with us. As a member of the Visma family, a leading provider of cloud services, we maintain strict security standards.
