FORT SALONGA, NY - CFO Consulting Services, a leading interim CFO services provider, discusses why many small business bank accounts are vulnerable to cyber theft and offers advice on how to protect accounts.
According to a February 3rd article published by Fox Business titled "Warning: Business Bank Accounts Aren't Safe from Cybertheft," small businesses are extremely vulnerable to cyber theft. While insurance protects many personal bank accounts, it does not protect most small business accounts. The article says many small business owners are unaware of this and often fall victim to cyber theft.
To avoid cyber crimes, the article suggests that small businesses pay more attention to their bank accounts. Cyber thieves have a variety of ways to gaining access to small business bank accounts. From simply hacking into a computer and using Facebook or LinkedIn accounts for clues to passwords, cyber theft is becoming more and more common every day.
Lawrence Teicher, founder of CFO Consulting Services, says that small businesses should check their bank accounts daily. "Be cautious, and don't take anything for granted," he says. "Cyber thieves are lurking, waiting for someone to let down their guard. Change your passwords every few months to ensure maximum security of your account. Do not use the same password for every online account or profile you have. This makes it easier for thieves to prey on you. "
Teicher also advises business owners to remember to log out of email, social media, and bank accounts and close your browser to be safe. "Do not answer any suspicious emails asking for account information," he says. "A common trick used by the thieves is to make a fake email requesting bank information. Though small business owners around the country are becoming more aware of this trick, cyber thieves are coming up with new ideas every day. It's imperative to take all precautions when your money is at stake.The IRS never contacts taxpayers by e-mail so don't provide your social to any "IRS" e-mail correspondence regardless of how official it might appear.Also, never access sensitive accounts at wifi hot spots or public sites. Business owners should also discuss ACH blocks and other available protections available with your banker."