Businesses are finding it to be a challenge to comply. Running a business nowadays involves going into an intricate maze of regulatory obligations that were previously the prerogative of large financial institutions. Regulations have changed tremendously in the last ten years, and it is imperative that businesses, whether big or small, ensure that they are dealing with the right individuals and organizations. Be it onboarding a new customer, transacting business, or dealing with a vendor has become a non-negotiable aspect of conducting business in a responsible way to ensure that you are dealing with a legitimate party.

This has increased significantly with the rapid emergence of digital commerce. The scope of money laundering, identity theft, and other large-scale illegal financial activities via online means is growing as fraudsters take advantage of the available online platforms. Small companies that do not have the same compliance infrastructure that large corporations typically have are especially susceptible to attacks. In the absence of a systematic and credible process of identity checking, they will be exposed to regulatory fines, negative publicity, and huge financial losses. It is for this very reason that identity verification services have become an essential tool of operation not only to banks and fintech firms but also to small and medium enterprises that are functioning in virtually all industries.

What is Identity KYC Verification?

Identity KYC verification is a regulatory requirement that requires businesses to authenticate the identity of their customers prior to developing a business relationship. This process is fundamentally based on the gathering of government-issued identification documents and cross-checking them with trusted, authoritative sources. In contemporary applications, it often has biometric authentication, like facial recognition and liveness detection, to verify that the person performing the identification is who they claim to be.

KYC requirements outside the banking sector have continued to increase steadily worldwide due to regulatory authorities. Currently, there are formal identity verification requirements in, among others, insurance, real estate, cryptocurrency, online lending, and some sectors of e-commerce. Compliance has been enhanced by such frameworks as FATF guidelines, 5AMLD, 6AMLD, FinCEN regulations, and GDPR.

In the case of business owners, KYC is no longer optional but rather a necessity to continue doing business in regulated markets. It guarantees transparency in business dealings, greatly minimizes the chances of fraud, and keeps businesses within the legal frameworks that regulators are actively implementing across boundaries.

Way Digital Identity is Transforming Compliance

The advent of digital identity solutions has revolutionized the way businesses consider and tackle their compliance requirements. Conventionally, verification of identity used to be a tedious manual process that entailed physical submission of documents, physical verification appointments, and paper records. Not only were these processes time-consuming, but they were also susceptible to human error and challenging to audit at all times.

This picture has been totally transformed today by the digital identity systems. Technologies like document scanning, optical character recognition, facial recognition, and live database cross-checking are among those that now enable businesses to do remote verification of customers in real time. A check that took days to accomplish before is now done in seconds. This technological change has brought the playing field to the same level, meaning that all businesses can carry out the same quality identity verification as big institutions at a fraction of the cost and without having to employ a large compliance team. Moreover, electronic systems will automatically create audit trails of all verification events, which are priceless when regulators demand documentation of due diligence. In the case of small businesses with lean teams, such automation will minimize manual workload, enhance accuracy, and provide a set of compliance consistency at all levels of interaction with customers.

Reducing Fraud Risk and Meeting Regulatory Standards

The immediate and most visible positive impact of introducing structured Identity Verification Services is the reduction of the exposure to fraud, as well as compliance with regulatory expectations. The use of fake, stolen, or manipulated identities is usually a requirement of the various types of fraudulent activities, such as money laundering, account takeover fraud, and synthetic identity fraud. By upholding strict identity checks at the time of customer onboarding, small businesses can ultimately eliminate a sizable fraction of bad actors prior to their entry into their systems at any point of the commercial relationship.

This is not only a best practice in the security field, but it is also a direct regulation in the world of anti-money laundering (AML). The regulations have mandated businesses to carry out formal customer due diligence (CDD) as a part of their onboarding processes. Lack of such measures may lead to huge fines and loss of licenses, and in other instances, business owners may face criminal actions.

Business Case for Small Enterprises

Investing in identity KYC verification is not only a regulatory requirement issue, but it is as well a solid, pragmatic business case. Online fraud and data security are much more conscious of customers today than it was even five years ago. They are more likely to believe and favor a business that actually shows its dedication to safeguarding their identities and personal data. An efficient and technology-based onboarding and verification process is the sign of professionalism, less friction, and the establishment of solid trust during the first interaction with the customer.

Building a Compliance Culture from Day One

Compliance is something that many businesses will just defer to a later date—when the business has grown or when a regulatory issue has arisen. Such a reactive attitude is very expensive. There is a growing proactive compliance behaviour expectation by regulators, and the cost of retrofitting identity verification infrastructure after a data breach, fraud incident, or enforcement action is much higher than the cost of building it properly in the first place.

By integrating identity verification services at an early stage, businesses can establish a strong compliance foundation supported by structured systems, documented procedures, and reliable audit trails. This proactive approach not only demonstrates accountability to customers and partners but also builds credibility with regulators.

One of the major providers is Shufti, a globally recognized and award-winning provider of identity verification (IDV) and KYC solutions, making enterprise-grade verification technology accessible to businesses of all sizes—removing traditional barriers that once limited robust compliance infrastructure to large enterprises.

As digital identity fraud continues to evolve and regulatory requirements become increasingly stringent, businesses that prioritize compliance from the outset are better positioned to scale, compete, and succeed in any market they enter.

The post How Identity Verification Helps Businesses Stay Compliant appeared first on Home Business Magazine.

By Tony Anscombe, Chief Security Evangelist, ESET

We have closed out 2023, and cybercrimes of all types continue to rise at an exponential rate. One type that is no exception and can be extremely devastating to victims is Work From Home (WFH) job scams. Even as more people have returned to the office following the COVID pandemic, the sheer volume of WFH job fraud attempts on the internet is staggering. For example, according the U.S. Better Business Bureau (BBB), the amount of money lost to job scams rose 250% during the first three months of 2023.

Don’t be fooled into thinking that you are too savvy to be duped by fraudsters. The BBB also found that 36% of job scam complaints involved a fake check. Likewise, in just the last two years fake check losses absorbed by banks rose 40% to top $1.3 billion.

As we head further into a new year and many are looking to start new jobs or careers, it is especially important that individuals who are either currently or plan to be working from home on a regular basis are aware of these fraud attempts and can protect themselves from becoming victims.

Here are three top WFH job scams to be on the lookout for in 2024.

Scam #1: Phony professional jobs with well-known companies

WFH and other employment scams targeting laid-off tech professionals are on the rise.

Sophisticated fraudsters are increasingly contacting job-seeking professionals on LinkedIn and other social platforms or job boards. They pose as recruiters looking to fill nonexistent jobs, often claiming to represent, or actually be from legitimate companies. But their real goal is to steal personal data and/or dupe victims into advancing money, supposedly for IT equipment or other goods.

As such, job seekers should never give their personal data or money to hiring organizations without proper investigation. And any potential “employer” seeking to conduct a job interview using a messaging app or text messages should be regarded with suspicion. Criminals favor these tactics to shield their identities and make themselves harder to track.

Fraud of this type often starts with a direct message on a job search site, with a “recruiter” reaching out to tell you that you have an in-demand skill set. The fake recruiter then sends an authentic looking invitation for a virtual interview and may also send details about the job, including benefits.

After the interview comes the offer letter, and then requests for personal information and money. For example, you may get an invoice for a computer that the company will supposedly order. Only you have to pay for it first, often using a cash app. The promised reimbursement or equipment will never come.

Scam #2: Unsolicited fraudulent WFH job offers

Another scam targeting WFH job seekers is the unsolicited offer. If a “too good to be true” WFH job offer comes your way seemingly by chance or because you were “selected,” be extremely wary—especially if the position requires no training or experience.

Many bogus job emails or online ads are basically phishing attacks. The “hiring” process often leads to theft of personal data, fake check scams, and/or payment for worthless goods, useless certifications, etc.

Some of the WFH job types most frequently used as bait for these fraud attempts include virtual assistant, medical billing services, data entry, home assembly work or so-called rebate processing.

A common scamming pattern goes like this:

1. The victim responds to an unsolicited offer for a virtual assistant or other computer-based job.
2. After quickly “hiring” them, the fraudulent employer sends the victim a payment, usually in the form of a paper check that eventually bounces. The victim is told to deposit the payment and use it to cover some job-related purchases.
3. The payment turns out to be significantly larger than is needed for the purchases. The victim is then told to return some of the payment by wire transfer or a cash app.
4. The payment bounces, there is no job, and the victim is out whatever money they sent back to the scammers plus whatever personal data they divulged.

Scam #3: Fake “start your own WFH business” schemes

“Start your own business” cons often include a fraudulent recruiter or bogus business coach. They may ask you to buy training materials, buy or sell “starter kits,” and/or recruit other would-be business owners.

If you fall for the fraud, you will be left with worthless or nonexistent goods, and any money you are paid will come only from scamming other people like yourself.

Tipoffs for these types of fraud include:

• Alleged business experts requiring you to pay upfront for a “guaranteed” or “get rich quick” money-making system. There is no such thing. Running a solo business is hard work and offers no guarantees.
• Illegitimate multi-level marketing (MLM) schemes offering high-paying jobs or guaranteed income. Genuine MLM success takes just as much effort as any other business opportunity. Plus, due to the nature of MLM these companies employ very few people directly.

A common MLM or pyramid business scam is “envelope stuffing.” Victims must make an upfront payment to get started. The “job” is to package and send materials to lure others into the bottom of the pyramid. No payments ever come through.

Another popular “start your own business” ploy is investment fraud. Scammers convince their victims that, after paying for trading guidance and possibly investment services, they can beat the stock market. The offerings are bogus and investment wins to offset the payouts never materialize.

Here’s how to stay safe from WFH scams

This list of best practices for WFH job seekers will help you sidestep scammers:

• Don’t respond to unsolicited requests for contact or click on links in unsolicited emails or text messages. These could be phishing attacks.
• Check out companies with the Better Business Bureau and search online using the employer’s official name followed by “scam” or “complaint.” Also look for fraud reports on national information sharing sites like BBB.org/scamtracker and reportfraud.ftc.gov.
• Use contact information directly from a company’s website to authenticate job postings. Call the company at the phone number listed on their website and ask to speak to the person claiming to be from the company.
• Inform the company and the BBB of the attempted scam, allowing them to bring attention and warn other potential victims.
• Conduct thorough background research on any job ads or offers.
• Remember that online information can easily be faked. Look carefully for subtle inconsistencies in business email addresses or third-party websites. Gmail, iCloud, Yahoo, etc. email addresses are cause for concern.
• Consider creating a special email address for your job search. If you find opportunities you didn’t solicit in your new inbox, be on high alert for fraud.
• Be very cautious about sharing personal data like your date of birth, physical address, financial data, Social Security number, or even your resume to unverified individuals.
• Vague job descriptions are a scam tipoff.
• Never send money to an unverified source using wire transfer or cash app.

Staying aware is your best defense

Within the chaos of WFH employment deceptions there are patterns you can spot to stay safe. Most employment fraud schemes rely on familiar social engineering practices, like exploiting a sense of urgency or making offers too good to be true.

As always, staying mindful and aware of scamming patterns is your best defense. Unemployment and job hunting are inherently stressful. Don’t let scammers exploit the situation.

The post 3 Top Work from Home Job Scams to Look Out for in 2024 & How to Avoid Them appeared first on Home Business Magazine.

Identity theft is on the rise in the United States, but we can learn from our mistakes to help protect ourselves and our personal data in the future. There are many types of tricks cybercriminals, or traditional thieves use to gain more knowledge about you, which we’ll discuss here. For each scheme, we’ll provide a recommendation for how to thwart these criminals.

Non-Technological Identity Theft

These identity theft examples are specific to offline sources.

Mail Theft

A thief may come up to your porch and steal your mail directly from your mailbox or porch. Identity criminals will choose mail that’s more likely to have your personal information on it.

Solution: Use a locked mailbox, a mail slot directly in your home, or switch to online billing.

Dumpster Diving

Similar to mail theft, a dumpster diver will steal your mail bit after you throw it out. Your credit card bills, bank statements, tax documents, or utilities are once again prime targets of thieves.

Solution: Shred all of your documents, regardless if they have private information on them.

Shoulder Surfing or Theft

We’re combining two identity theft cases here because one may lead to another. Shoulder surfing is when a person looks over your shoulder to steal personal data, while a thief will steal your bag, purse, or wallet directly off your person. Both are a massive breach of privacy.

Solution: Don’t use banking apps in public, password lock your phone, use cash for purchases, keep your bag closed and close to you, button up your back pockets, don’t carry your SSN.

Phone Scams

Con artists will phone you and state they are a person that deserves your trust, like a bank or service provider. Usually, they know enough about the victim to establish some trust.

Solution: Never give your private information over the phone; ask them for a call-back number.

Technological Identity Theft

These identity theft examples are specific to online sources.

Credit Card Number Theft

A person could steal your credit card directly from a website or from a personal debit card device that stores numbers. A thief could steal your signature, or an onlooker could see you type in your credit card number on a website. Illegal screen recorders may also be used.

Solution: Sign “CID” (SEE ID) on the back of your card instead of putting your signature, only buy from trusted sites, hide your monitors from sight, use PayPal for extra encryption.

Phishing Schemes

A phishing scheme (pronounced “fishing”) is when a hacker tricks a user into giving them personal information. A phisher will typically send an email and ask you to download an attachment or click on a link for more information. When you do this, you unintentionally install a virus directly to your computer that could be ransomware, malware, or a trojan.

Phishers may also use search engines, websites, text messages, or spam to target victims.

Solution: Never visit a website you don’t trust, don’t answer unauthorized texts, don’t click advertisements, don’t click mysterious links, don’t download anything you don’t trust.

Man-in-the-Middle Attacks

In a man-in-the-middle attack, the criminal will intercept information that’s being transferred from one source to another. This commonly occurs with legitimate links, but it can happen anywhere.

Solution: Check your credit reports, become more diligent and selective in what you search.

Vishing or Chat Theft

Vishing is similar to a phone scam, except the hacker will use an automated voice messaging service to steal information from you. They’ll urge you to call a number because you won a prize or owe money which you can only receive if you provide your credit card info. The chat function on websites can also be used in a similar way, or they may be hacked.

Solution: Register on the “National Do Not Call Registry,” file a complaint with the State’s Attorney Office, search the phone number online, don’t put personal info into chatbots.

The post What Most Identity Theft Cases Teach Us appeared first on Home Business Magazine.

A January study released from the Department of Homeland Security is focused on curbing the sale of counterfeit goods online, calling it an illicit trade that is inflicting significant harm on American consumers and businesses. Fraudulent practices are also likely to increase during times of crisis. As more shoppers turn to e-commerce due to the COVID-19 pandemic, a number of bad actors are flooding online marketplaces with fake goods.

Small businesses that sell products online are likely all too familiar with the impact of counterfeit products. Consumers expect safe, genuine products and quality product information. Trust disappears when a consumer is duped into purchasing inauthentic, inferior, or unsafe products. Without trust, a small business’s brand loyalty, future sales, and long-term growth could be in jeopardy.

Consider these findings from a recent study by Incopro:

• One in two US consumers (52%) have lost trust in a brand after unintentionally purchasing counterfeit products online.
• 26% of US consumers have been fooled into buying at least one counterfeit product in the past 12 months.

Government action alone is not enough to bring about change. Reputable business owners should take a proactive approach and abide by online marketplace guidelines that call for the use of authentic product identification to protect their burgeoning brands. Becoming educated about product identification, small businesses can gain credibility in the eyes of retailers and instill consumer confidence in their legitimate products.

Investigating Potential Counterfeit

One small business, JAM Paper & Envelope®, recently offered their perspective on counterfeiting, and discussed how they’ve used unique identification numbers to keep bad actors from encroaching on their growth opportunities.

The New Jersey-based paper company believes the recently proposed government mandates could be a major turning point for credible businesses that rely on online marketplaces as a main source of sales. Family owned/operated since 1955, the company offers a wide range of distinctly colorful paper products. They made the leap to become an all e-commerce business in 2018 after operating a successful local storefront for decades.

“We do see counterfeits on our products and it’s nearly impossible for us to know for sure whether a seller has a legitimate JAM Paper Brand product or not,” said Kelly Ennis, director of marketplace strategy and analytics, JAM Paper & Envelope.

One of the ways JAM investigates potential counterfeiters is to conduct test buys on their own listings, which takes valuable time and resources away from other aspects of the business. JAM will purchase an item from a seller claiming to sell a legitimate product and the team compares the product’s identification numbers and barcodes upon receipt.

Identification numbers like the Global Trade Item Number (GTIN), which is the number located under the barcode lines (a U.P.C.), are frequently cited in online marketplace vendor guidelines. When obtained from the information standards organization, GS1 US, the business owner receives an identification number that is uniquely structured to provide a necessary link between the brand owner and the product. They are often used during the on-boarding process to help the marketplace determine if a product is valid and ready to be sold on their sites. In some cases, if the product’s identification number comes into question, the product listing will be hidden from consumer view.

“When we receive an item with that does not have the right GS1 identification number, we know it’s counterfeit,” said Ennis.

The team reports the violation to the online marketplace, showing the order number, barcode, and images of the counterfeit product from the test buy as proof. The process of removing counterfeiters from their listings takes about one to two weeks.

Deterring Bad Actors

Ennis is hopeful that the new legislation will be a deterrent for counterfeit sellers. Not only does the problem cause costly headaches for legitimate businesses, it creates frustration to consumers who are unaware their hard-earned dollars are going to fraudsters.

“We are big fans of the proposed legislation and we think it will have significant benefits to us as a seller,” Ennis explained. “Clearing the sites of counterfeiters will offer a better experience for legitimate sellers and, of course, a better experience for customers who will no longer have product authenticity concerns.”

Many small businesses are also encouraged by the swift action e-commerce platforms have taken in the wake of the coronavirus outbreak and hope the action deters more bad actors in the future. In March alone, the leading online marketplaces removed nearly one million products from unscrupulous sellers from their website. Sellers pushing fake items such as Vitamin C boosters or fraudulent personal protective equipment like surgical masks were part of the major sweep.

Ultimately, for small businesses owners, the number one priority is serving their customers and securing their long-term loyalty. To maintain this focus on the consumer while protecting your business from counterfeiters, small business owners can stay educated on vendor guidelines and adhere to best practices for listing their products.

The post Small Businesses Applaud New Counterfeit Mandates appeared first on Home Business Magazine.

Whether you’re using public Wi-Fi to chat to your friends via WhatsApp, or changing the password on your favoured online gaming site, it’s clear that security considerations are a central part of our online activities.

And with high-profile banks, government institutions and entertainment websites showing themselves to be evermore vulnerable to a range of malicious cyber attacks, it’s clear that as individuals we need to do all we can to ensure our own private online security.

Choosing a password

There’s a lot of debate about what constitutes a good password, but it’s evident that regularly changing your password and not using the same one between many accounts is a strong way to prevent identity theft.

It’s perhaps using complex passphrases rather than passwords that provides the best chance of avoiding being caught out by hackers. And if possible, always try to ensure that you use a two-stage authentication technique so that even if someone guesses your password, there’s an extra layer of security to keep your details safe.

Site security

But sometimes it’s not enough to have a strong password, as you should also consider whether the places you are visiting have adequate protection. Your browser should usually alert you if any website is suspected of being malicious or insecure, but always be sure to check that there’s a padlock next to the web address in the browser bar if you’re carrying out any financial transactions.

Making payments online should always be done with a heightened level of awareness, and using digital payment providers such as PayPal, Neteller and Skrill can also offer an extra layer of security. Such providers have teamed up with many gaming sites like Mr Smith Casino who provide mobile games that are , yet include online security features that help to ensure that events like the recent Epic Games forum hacking don’t affect their customers’ safety.

Wi-Fi concerns

But even though you have ensured that your password is strong and the website is secure, it’s worthwhile thinking about how you’re transmitting and receiving your data. This is especially important when using public Wi-Fi as it is notoriously liable to digital eavesdropping, and as such it’s best to err on the side of caution.

And as this story regarding Wi-Fi in Airbnb accommodation shows, even if you’re using somebody else’s connection, you should always be aware of the potential for security breaches in the online environment.

The post Tips to Improve Your Online Security appeared first on Home Business Magazine.

You’ve got a great, innovative idea, and you just know this is the one that will catapult you into a successful business venture. But before you go enthusiastically announcing your inspiration to colleagues, friends, and family, or spilling your trade secrets at the local coffee shop, consider legally protecting your intellectual property. There can be immense legal ramification of ideas that are not properly protected. Check out this page on the HeerLaw website that will give you a better idea of what IP litigation is and how this process works.

Here are three important tips for making sure your ideas or inventions are protected.

1. File for Protection

File for protection under U.S. patent, trademark, and/or copyright laws. But which one of these provides the most appropriate type of intellectual property protection?

A patent for an invention does not grant the right to make, use, offer for sale, sell, or import, but the right to exclude others from doing so. A trademark is a word, name, symbol, or device that is used to indicate the source of the goods and to distinguish them from the goods of others. Copyright is a form of protection provided to the creators of “original works of authorship,” including literary, dramatic, musical, artistic, and certain other intellectual works, both published and unpublished.

2. Invest in Legal Counsel

It’s worth the money to engage the services of an experienced small business or intellectual property attorney. When choosing an attorney, remember that you are seeking a qualified, trained professional, not a best friend. Don’t rely on TV, online, or phone directory ads; ask someone you trust for a personal recommendation. You can also check with the local chamber of commerce to see which attorneys have good reputations in the local business community.

3. Arm Yourself with Knowledge

Even though it’s advisable to leave the big decisions to an attorney, it’s a smart idea to bone up on intellectual property rights yourself, even if you just read some books on the subject. There are also many online resources available for people new to this world.

A good place to start is the U.S. Patent and Trademark Office website. The Library of Congress’s Office of Copyrights also provides useful information.

The post Got a Great Idea? Keep Your Inventions Safe appeared first on Home Business Magazine.

In today’s day and age, e-commerce is king. Businesses in thousands of different industries and from all around the world rely very heavily on e-commerce for their operation, which makes their website of the utmost importance.

This e-commerce website is, essentially, a shop owner’s shop or a factory, so it is absolutely vital that steps are taken to safeguard this website. This is particularly true with so many threats and cyber risks, but fortunately, there are a number of ways to protect your e-commerce website, as well as your customers and their data.

Platform & Connection

To protect your site from cyber attacks, you first need to ensure that you are using a secure platform and that you are using a secure connection for online checkout. It is recommended that the platform uses an object-orientated programming language, whilst the checkout must use strong SSL (Secure Sockets Layer) authentication. Additionally, you should never store sensitive data (particularly credit card numbers, expiration dates and CW2 codes). This is the equivalent of not leaving cash in the register – if there is nothing to steal, you cannot be robbed.

Verification and Passwords

Boosting security is an excellent way to protect your e-commerce website. Address verification (AVS) and card verification value (CW) can protect card transactions, whilst requiring your users to create complex passwords will help your customers to protect themselves on the back-end.

Layered Security and System Alerts

Laying your security can give you multiple lines of defence against cybercriminals. Firewalls are crucial, but you can also add additional layers to the website and applications. You can also set up alarms for suspicious activity; these can be for multiple transactions coming through one IP address and multiple orders by one person using different information than the billing address.

Perform Regular Scans

Advanced penetration testing (pen tests) can identify and quantify cyber risk. When you use a third-party, with Nettitude being one reputable company, they can carry out advanced and regular pen tests. This will include cyber security testing, PCI services and security assurance. In addition to identifying risk, this can also give you complete peace of mind.

These are the key steps to protect your e-commerce website from cyber threats. It is unfortunate, but hacking and fraud are extremely prevalent on e-commerce, so it is vital for all businesses (big and small) to make sure that you are not an easy target. Armed with these tips, you will be able to protect not only your business, but also your customers and their private data.

The post Tips for Protecting Your E-Commerce Site from Cyber Threats appeared first on Home Business Magazine.

Although technology has become a prominent part of the modern workplace, some people haven’t kept up with it. As a result, a lack of knowledge can lead to computer viruses which can put your systems under threat. In the worst case scenarios, your data could be lost, hacked and stolen. That confidential documentation is now corrupted! Your business will struggle to recover from such a devastating occurrence if unprepared. So, as a business owner, you’ve got to be on the lookout for any warning signs like the ones we’ve detailed below.

A General Lack Of Knowledge

Before we delve into some of the more in-depth reasons why viruses are allowed to creep in, let’s take a step back. In general, the reason for viruses stems down to a general lack of knowledge on the part of your employees. They aren’t computer whizzes like you are, and they don’t understand the dangers of the internet. The only way to truly get around this is to train them effectively. Send them off to a training course or hold your own, in-house training solution. Either way, it’s important to do this.

Clicking On The Wrong Google Links

If you allow your employees to have access to everything Google has to offer, you’re putting yourself at risk. I can understand why you’d want to do it, but there are lots of dangerous websites out there! Let’s say an employee thinks they’re going to download an application like Skype. Instead, they might be downloading something masquerading as Skype. Suddenly, viruses infect the system, and the damage could be extensive.

Failure To Understand Phishing

One of the things that most businesses do nowadays is set up email accounts for their employees. Email is a very important part of modern business operations, and for that reason, hackers love to target it. One of the most common ways they do this is via phishing. With this, they concoct an email that looks almost identical to a legitimate one from a source that might even be your own company! Click on the link in that email, and you’re in potentially big trouble.

Sending Files To Each Other

If you’ve got a lot of employees located all over the place, they’ll probably need to send files to each other from time to time. They’ll be using different file sharing services, and viruses can pass from device-to-device easily. The best way to get around this is to invest in a branded file sharing service that remains private for your company. Ditch the unreliable file sharing tools that put your company in danger.

Taking Matters Into Their Own Hands

If you provide your employees with too much internet access, you run the risk of them wreaking havoc. That’s why so many companies block them from accessing certain websites and installing programs. When they start installing new antivirus programs and bespoke pieces of software, you can’t be sure that things will go smoothly. You’ll have to be a very trusting business owner if you want to allow this sort of thing to happen!

Inappropriate Passwords

Most companies make a point of telling their employees to make sure their passwords are long and complex. If you haven’t done this yet, it’s time to do it now! There are a number of dangers that you’re opening yourself up to if this isn’t solved. Firstly, people within the company could guess passwords, as well as members of the public if a laptop was lost. Then, when it comes to internet-based passwords, hackers will find it much easier to get access. By limiting yourselves to short and limited passwords, you’re putting yourselves at greater risk.

What Can You Do About It?

We’ve already touched upon some of the things you can do to assist your employees. Let’s not play the blame game here. No-one sets out to cause damage and allow viruses to creep in. If this is happening to your company on a regular basis, something needs to change. In my opinion, it’s always beneficial to start with company-wide training. Get the basics out of the way first, and then start thinking about the more complex stuff.

It can be very beneficial to start blocking software installations and website access, too. Not only can you limit the damage your employees can do, but you can make sure they don’t get distracted by websites like Facebook! Identify the areas in which your company could be at risk, and put measures in place to prevent anything from happening. Finally, ensure that you have a backup plan in case anything does go wrong.

(Images – 1 link / 2 link / 3 link)

The post Computer Viruses: How Employees Could Put Your Business In Danger appeared first on Home Business Magazine.

Bootstrapped small businesses don’t have the budget for an IT department. And, when an entrepreneur is wearing the hat of CEO/CFO/VP of Product Development/Administrative Assistant/HR/Everything Else, there isn’t time to worry about software updates, encryption, hackers or ransomware attacks. But, Symantec’s latest Internet Security Threat Report found that 43 percent of spear-phishing attacks fraudulent emails that appear to be from a known individual or business – specifically targeted small businesses in 2015. That’s up from 34 percent in 2014. Becoming the victim of a cyber attack can be crippling for a small business where data isn’t always properly backup and the entire enterprise is often run off just a few laptops.

The following are tips to help small businesses avoid cyber attacks and protect their valuable data:

1.) Back-up your data to an external device several times a day and store it for months. Ransomware is spreading like wildfire. If infected, it will lock you out of your data, demanding money to unlock it, and most likely transmitting it to other buyers in the meantime. If you have a backup, you’re in good shape to recover your information. Also, don’t use the infected machine without doing a full factory reset!

2.) Make sure all of your devices are using full disk or full device encryption with a strong password. If you lose a laptop, phone, or tablet this will make sure that anyone who has it doesn’t get access to your accounts or other data on the device.

3.) Well, what is a strong password? Never reuse a password and use a sentence that you can memorize as your password instead of a jumble of characters and numbers you’ll need to write down. Here’s an example: “TodayIsTheDayToStartSecurityIn2016!” If you’re really clever you can come up with something with a modifier to the end that is specific to a website or app: “CorrectHorseBatteryStapleAmazon.com!!”

4.) Make sure you have administrative access to all online accounts and services your employees or consultants use – if they leave the company you want to make sure they don’t abuse the service or lock you out.

5.) Watch out for new credit card fraud schemes. Now that the credit card chip is here, criminals are getting craftier with Internet fraud. If you are in the business of selling or buying items online, be aware of the latest Internet fraud techniques: triangulation, re-shipping, phishing, etc. and how to protect yourself from falling victim from these seemingly valid transactions.

For more information about protecting your security and privacy online, visit: www.sndr.com.

About SNDR

SNDR is a new app that combines all the ways you already communicate into a single platform. You can text, email, share files and use social media all from one app. And, every message is encrypted and completely secure.

The post How to Fortify Any Small Business Against Crippling Cyber Attacks appeared first on Home Business Magazine.

Adding Financial Protection to Online Security for Vulnerable Businesses

Assurant, Inc. (NYSE: AIZ), global provider of risk management solutions, announces it will team up with cybersecurity specialist MyDigitalShield to help protect small businesses against losses from data breaches.

Assurant will provide support for MyDigitalShield’s data breach guarantee, accompanying MDS’ cybersecurity technology protecting small businesses against the costs associated with data and system restoration, customer disclosures and other expenses in the event of a data breach.

“Cybersecurity is a large concern for small businesses,” said John Frobose, senior vice president of Assurant. “Small businesses typically don’t have the IT resources or the working capital of large corporations, yet they face a serious threat to their sustainability if a data breach occurs.”

Frobose continued, “We’re working with MyDigitalShield to back its data breach guarantee with its cybersecurity technology, helping protect small businesses from both hackers and the potential, resulting financial losses.”

More than 700 U.S. businesses reported experiencing a data breach last year, according to the Identity Theft Resource Center. As an additional benefit with MyDigitalShield’s cloud-based security platform, MDS will provide a data breach guarantee backed by Assurant for up to $50,000 for impacted businesses, at no additional cost to the users.

“Together with Assurant, we’ve developed a full-service solution to one of the real pain points for a small business today,” said Andrew Bagrin, CEO, MyDigitalShield. “Our multi-layered security filters and protects data traffic through any gateway, blocking threats and malware.  Assurant brings an important, added layer of financial protection in support of our data breach guarantee, helping us to make our clients whole in the unlikely event that a breach does occur.”

In addition to losses from data restoration, the MyDigitalShield guarantee includes data re-creation and related public relations costs incurred by the business.

The initiative with MyDigitalShield is the latest technology-based innovation in risk management from Assurant, which also safeguards millions of electronics owners, car- and home-sharing customers, and small package shippers.

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About Assurant

Assurant, Inc. (NYSE: AIZ) is a global provider of risk management solutions, protecting where consumers live and the goods they buy. A Fortune 500 company, Assurant focuses on the housing and lifestyle markets, and is among the market leaders in mobile device protection; extended service contracts; vehicle protection; pre-funded funeral insurance; renters insurance; lender-placed homeowners insurance; and mortgage valuation and field services. With approximately $30 billion in assets as of March 31, 2016, and $8 billion in annual revenue for the year ended 2015, Assurant is located in 16 countries, while its Assurant Foundation works to support and improve communities. Learn more at @AssurantNews or on Twitter @AssurantNews.

About MyDigitalShield

MyDigitalShield is a leading provider of Security-as-a-Service that delivers enterprise-level security technology to small businesses. Based on industry-leading unified threat management technology, MDS’ customizable cloud-based security solution offers continual protection against cyber threats and intrusion at an affordable price. With no bandwidth pollution, the SECaaS delivery model ensures that the latest virus definitions and threat updates are in use for continual threat assessment. Founded in 2013, MDS serves numerous managed service providers and small businesses in various industries including retail, restaurants, hospitality, and professional services. To learn more, visit www.mydigitalshield.com or follow on Twitter @MyDigitalShield.

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