BBB: Best practices to protect your business when banking online

Tyler Morning Telegraph | April 24, 2014

Online banking has made it easier and more convenient to manage business finances, but it also provides an opportunity for hackers to gain access to business accounts with the goal of making unauthorized money transfers. The Better Business Bureau recommends small business owners implement a few simple steps to keep their financial information and transactions secure when banking online.

The Ponemon Institute survey of small businesses throughout the United States found that 55 percent of businesses responding have had a data breach, almost all involving electronic records, and 53 percent of businesses have had multiple breaches.

Small business owners might feel they are flying under the radar of data thieves and hackers, but they are actually in the crosshairs. According to the 2013 Verizon Data Breach Investigations Report, 40 percent of data breaches occur at the small business level. That’s why the BBB partnered with leading security experts to show small business owners that implementing a strong data security strategy doesn’t have to take a lot of time or resources.

BBB and partners Symantec Corporation, Visa Inc., Kroll’s Fraud Solutions and NACHA – The Electronic Payments Association created Data Security-Made Simpler, an online resource to help small businesses implement key data security policies and practices.

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