Protect your firm from the rise of cybercrime

Cybercrime continues to expand and evolve. In the 20/21 financial year, reports of cybercrime saw a 13% increase from the previous year, with professional services the most targeted of all occupations. Unfortunately, if your business is not well protected, you could be at risk of a cyberattack. Password protection is only the first layer of defence and is not sufficient to avoid increasingly sophisticated cybercrime. It is imperative that your firm adapt to the changing landscape to protect both your business and clients. But what are the best ways to protect your firm?

Knowledge and education

As with most things, the first step is awareness. Being informed of the methods that cybercriminals use to target your business is the first step of preparation. Be vigilant of suspicious communications including emails, phone calls, text messages and more, especially when the transfer of funds is concerned.

A great place to start is by engaging in Cyber Security Awareness Training. InfoTrack offers complimentary CPD cyber security training to all firms. The training covers how to identify fraud activity, how to protect yourself from hacking attempts and what to do if your firm is hacked.

Additionally, you can utilise a Cyber Security Checklist that guides you on who in your business should be educated on cyber awareness, standard security procedures and what to do if your firm has been compromised.

Solutions for added security

Protect your client’s money

All too often we hear news stories and read articles about cybercriminals hacking into lawyers, conveyancers, and real estate agents’ systems. The intent of these criminals is to send emails that seem legitimate, directly to property purchasers advising of a change in bank deposit details.

Securexchange is a secure workspace for the sharing, signing, and exchanging of documents. You can use Securexchange for all your property matters to ensure the security and reputation of your firm, and safety of your client’s hard-earned money. Every user in Securexchange has been verified and is legitimate. Multi-factor authentication by SMS further protects the workspace, and your clients’ funds.

Protect your firm’s documents

Digital transformation has led to the widespread adoption of cloud-based processes. This has benefited businesses as it reduces manual work and saves time. However, if your firm is not using secure systems and practices, you could be vulnerable to cyberattacks. For example, emailing clients documents for signing is not secure, as we have discovered from many news stories where email accounts are being hacked.

InfoTrack has partnered with DocuSign to develop SignIT, a secure cloud-based signing solution. Tracked by the latest technology with a DocuSign audit trail report provided post transaction, SignIT sends documents via secure link and uses SMS authentication to verify only the intended recipient is accessing the file. This ensures the security of your documents from cyberattacks.

Cybercrime has never been more prevalent. It is imperative to prepare, educate staff and implement training, policies, and solutions to protect your firm and your clients. Get started with InfoTrack today and gain access to our suite of innovative solutions.