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Business Protection Bulletin


By September 1, 2013No Comments

How secure are your business assets? According to the Association of Certified Fraud Examiners (ACFE), companies with less than 100 employees lose an average of $155,000 a year to fraud. Small businesses also have a higher fraud rate than larger firms and non-business owners.

Don’t be a victim! To help protect your business against losses from scam artists and cybercriminals, security experts recommend taking these precautions.

  1. 1. Separate personal banking and credit cards from your business accounts to ensure that scam artists don’t get their hands on all your money; this will also make it easier to track business expenses and tax deductions. Pay bills online or make sure to store paper bills securely.
  2. Invest in a firewall as well as anti-virus protection, and spyware- malware detection software Provide offsite backup to keep your business up and running after a cyberattack.
  3. Secure your IT infrastructure by using a dedicated computer for all online financial transactions. If possible, avoid using it for other online activities (such as social media, email and web-surfing) which can open the system to cyberthieves.
  4. Make sure that passwords are complex (with one upper-case letter, one number and at least eight characters), have them changed regularly, and assign different passwords for separate accounts.
  5. Hold regular training sessions for all staff on basic security threats and prevention measures.
  6. Use background checks for all employees who handle cash or high-value merchandise or have access to sensitive data.
  7. Buy insurance to protect your small business against losses from fraud or cybercrime.

We’d be happy to tailor coverage to your needs – at a price you can afford. Just give us a call.