Online Security Tips for Your Business

January 3, 2012

Modern technology has changed the way banking information is exchanged. Increased access to banking information offers convenience and operational efficiencies for businesses and it also brings security challenges. Below are some easy steps that can be followed to strengthen online security when utilizing online business banking:

Access Control

  • Limit information access to authorized users and limit the number of users.
  • Limit transactions from computers not owned by you.
  • Limit use of public access points to access banking accounts. If you do, always log-off before walking away.
  • Require that each authorized user maintain their own unique log in and password credentials.
  • The use of security tokens and multi-level authentication processes is strongly encouraged.

Separation of Duties & Training of Employees

Entries should be initiated by one person and approved by another. This practice is known as “Dual Control.”

All employees who access accounts online should be aware of security risks associated with their activities and know how to report suspicious activity related to their computer system or online accounts.

Business owners and/or managers should monitor accounts daily – at the beginning and end of day – so that unauthorized activity can be detected quickly.

Physical Protection

  • Limit physical access to information systems and computer equipment.
  • After completing an online session, close the browser window to eliminate cached data and cookies stored in memory.
  • Anti-virus software should be installed and regularly updated.
  • All computers must have an Internet firewall that is up to date.
  • Anti-spyware should be installed and up-to-date.
  • Automatic updates or patch management software should be installed to enable the latest software patches and updates to be installed.
  • Spam filters should be installed and maintained.
  • Make regular backup of system and work files for contingency purpose.

Review your online business banking practices regularly and consider online security throughout all technology decisions. For a security self-assessment to help manage online security risks, contact your Home Federal Business Banker today.

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