Whether you believe it or not, your business is a supreme target for all wrongdoing since it is a money-making affair. No matter what industry, size, or type, every company is vulnerable to lingering threats. The danger can originate from anybody, regardless of their affiliation with the company. There is a risk that your employee may steal money and that a hacker will steal your private data. You cannot entirely remove the threat, but you can take precautions.
It is your responsibility to ensure that all physical and digital assets are safe from the culprit. Also, since you hope that there will be no thefts or break-ins, it is always a good idea to have a criminal lawyer to back you up just in case. For example, if your employees are involved in money laundering, your attorney will assist you in getting out of the mess. Well, to ensure that all your keepsakes are safe, follow the strategy discussed below.
Protecting the Physical Assets of the Business
Your company’s physical assets include cash, accounts receivable, land, building, machinery, equipment, inventory, plant, vehicle, and other capital investments. Consider the following measures to protect your physical assets.
Installing sophisticated security systems is a practical and straightforward approach to deter intrusions. Install surveillance cameras, an alarm system, smart locks, and a security light. Hire a security guard to take immediate measures if someone tries to break in.
Use a Safe
Keep all of your company’s valuables, including important papers, cash, and other items, safe and secure in the vault. A good investment makes it hard for a thief to break it, open it, or steal it from the company property. So even if intruders manage to deceive the security system and guard, they will be unable to access resources.
Conduct a Background Check on Employees
When it comes to recruiting talent, don’t simply look at their skills and qualifications. You must run a background check on them and ensure that all information on their CV is correct. You should also look into their digital traces and find if they have any prior convictions. A simple Google search about them, as well as calling references, should be considered as well.
All of this is necessary to eliminate the risk of fraud within your own company. If you make the wrong choice, your organization may suffer financial losses and even reputational damage. An employee may manipulate financial records, abuse their position of authority, or outright steal money. As a result, always do a background check.
Restrict Employee Access
Don’t give out the key to your vault or important spaces like storage facilities to just anybody. Be wary about those you put your confidence in, and only offer the key to those who merit it. It is critical to restrict employee access to protect your company’s physical belongings.
Other precautions include depositing cash into the bank regularly, protecting potential entrances such as windows, conducting risk assessments, doing frequent asset checks, insuring property, and ensuring stocks.
Protecting the Digital Assets of the Business
Your company’s digital assets are online assets that include business pictures, emails, logos, presentations, graphics, spreadsheets, animations, word docs, multimedia content, digital artworks, websites, word documents, and a plethora of other digital data and information. Do the following to prevent duplication or unauthorized access to your company’s digital data.
Today, all the company’s critical and secret data is kept on cloud servers. It is vital to keep the server protected to prevent sensitive details or customer/client information. Otherwise, your company’s reputation may tarnish, you may have to pay an enormous ransom, and you may lose loyal clients/customers. Hence, limit access to your data to a few people, keep a backup, and install a firewall.
To prevent hacking, keep your online data password protected. Passwords, however, must be complex and updated regularly. If you have trouble remembering them, try a password management system. Set up two-factor authentication as well to prevent unwanted access. This is the best way to protect your company’s essential data from prying eyes or hackers.
It is wise to invest in anti-virus software since it is highly effective at identifying and removing threats. It also prevents the corrupt virus from infiltrating the system and destroying the data.
Prevent Email Frauds
Email scams are on the rise because emails are the most convenient way for malware to enter the system via links. Install software that will scan your email regularly to keep it clean. It will help in the detection and removal of malicious links and viruses. Also, educate your employees about email scams and instruct them not to click on anything that appears dubious.
It just requires a proactive and strategic approach to defend the company from misdeeds or cyber assaults. The measures outlined above are meant to ensure that you have a good night’s sleep rather than tossing and turning all night stressing about business assets.