The Wells Fargo Bank fraudulent activities was a jaw dropping news event. We are all aware of protecting passwords online, but the bank magnified potential problems ahead. Upon walking into a bank, one normally trusts the tellers employed to handle bank accounts. The question becomes, is this a unique occurrence or might it happen again? If again, how are patrons of any bank to protect themselves?
No one has all of the answers. However, being proactive toward protecting accounts will save time, money and potentially your business, too. Behind all of the online hacks and unscrupulous behavior in everyday settings, companies are obliged to have solid policies in place. Nothing can be left to chance any longer.
Legal advice is the first avenue to embrace. After being made aware of responsibilities by your attorney, create company-wide policies for in-person and online activities. The CEO and executive team should have regular meetings with the head of Human Resources. Together define policies for all employees.
Establish additional procedures for those employees in charge of the online accounts. Make certain each person in charge is well aware of their responsibilities and liabilities should missteps occur. They are to keep track of account login information and convey all changes that are made to management.
The reason this is so important is that on more than one occasion, employees have departed from the company employing them. They left with all of the account information in hand. The employers never had knowledge of any of it. Consequently, these employers lost control of their former accounts. It becomes extremely difficult and time consuming to try to regain ownership of the accounts in question.
Business Password Tips
- Make it difficult for others to guess passwords.
- Create a unique password for each account.
- Inter-mix a combination of capital and small letters, punctuation marks, and numbers.
- Avoid common words.
- Use a dozen character spaces.
- Change passwords quarterly.
- Decide upon a safe storage system to efficiently recall the updated passwords.
- Retrieve all passwords prior to an employee quitting and change immediately.
- Install the two-step verification for each account.
- If access to an account is denied, pursue all avenues to resolve the issue.
- Consult with attorneys as needed.
You worked hard to build your personal brand and company brand. Saving both time and money is an essential element for business owners. Avoid long drawn-out grievances attempting to resolve issues as described above. Instead, be pro-active. Securing accounts is the key ingredient for continuing to make positive strides each day. Incorporate a plan of action, today. Review all of your accounts and current passwords. Be vigilant in review to find any strange looking activity.
Small Business Deals
Maintain a watchful eye prior to opening questionable email. Most phishing email are evident, but on occasion some are not so obvious. Prior to clicking any link or file, click the email address of the sender. This should give clear indication of whether the email is valid or not. This action only takes a second but will prevent much grief in the end.
- Read articles as they become available on the latest security issues.
- Take time to ensure you follow new suggestions for protection.
- Consult with an attorney.
- Trade information with peers.
- Pose questions regarding protection in your groups.
- Be proactive by incorporating the suggestions.
- Actively check your accounts each day.
- Take immediate action should anything look suspicious.
- Get help with marking certain email “suspect” to more easily trash.
- Train employees on all policies.
Republished by permission. Original here.
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