Fraud threatens all business using the internet, but is often overlooked by executives of smaller business that consider they are at low risk. Big business is well protected so cyber crime is turning its attention to smaller business to take a small amount from a lot of business which can be very lucrative. Business coaching services on the Gold Coast are now actively advising that all business are now vulnerable and due diligence is required by everyone.

Some of the ways you can protect yourself and your business from any fraud attack are:

1.Perform Regular Security Audits

A security audit will reveal any areas where your company may be vulnerable to a cyber-attack and secure any weak areas. When your security audit reveals weaknesses in your defense its crucial to move on them quickly as the prevalence of fraud online is increasing at an alarming rate and preventative measures are the only way to protect yourself

2. Have a Proper Company Wide Password Policy

If your company passwords are randomly generated and changed regularly, it makes your company much safer. Sharing passwords or using one password for multiple sites means it’s very easy for cyber criminals to attack your business

Two Factor Authentication

If your business uses a two factor authentication system, it becomes much more secure. This involves those using passwords to have the correct password and also possess another temporary access code before access is granted. Often this will come into effect if an unrecognized device is used to access and account. A special code is sent to a specified address that has to be used in conjunction with the password

3. Learn the Signs of Online Fraud

Business coaching services on the Gold Coast are now teaching their clients about the signs of online fraud so they are easier to detect. Many instances of online fraud are in very small amounts and without careful attention paid to detail’s may go unnoticed for some time.

It;s vital to check all account details daily and a great idea to install machine learning software that can learn to detect discrepancies in your daily business

4. Set Firm Rules for Job Related Expenses and the Recording Processes Required

This will make it much easier to spot strange transactions, over half the internet fraud found is actually internal so my making things more ridged this can be largely eliminated

5. Employee Online Fraud Education

All employees who have access to any sensitive information or data need to be trained in online fraud detection so if any occurs, it can be caught in the early stages and not allowed to get out of control.

If your employees can recognise the signs of online fraud you have a better chance of stopping it. All online requests must be carefully scrutinized, especially any that are marked urgent.

There are many tricks used by cybercriminals to convince business to act without due caution. They range from suggesting they will close the account or issues a fine unless there request is not acted on immediately. Tricks designed to frighten unwary employees into action

With proper training from Business coaching services on the Gold Coast you stand a good chance of protecting your business from any fraud attack.