When business financial data is compromised, there are devastating losses to finances and reputation. There are several methods cybercriminals will use to target company’s financial data.
With the rise in remote work, there are new opportunities for hackers to exploit weaknesses and vulnerabilities within an organization. However, there are several options your business can do to prevent this disaster.
Cybercriminals typically rely on one of two methods to exploit business data: weaknesses in personnel and technology.
One of the most common ways cybercriminals may attack is by phishing. Phishing involves trying to get employees login information through impersonating an employee at a company or by creating websites that look real but are designed to collect user credentials. Weak and recycled passwords may also create openings through personnel. Additionally, weaknesses in technology such as weak encryption, misconfigured system, and malware may also pose a threat to your business.
How AI And Training Can Protect Against Financial Data Threats
Firstly, properly training staff for these tactics can do a lot to reduce the risk of financial data being compromised. It will also help to have traditional cybersecurity software as well artificial intelligence-focused security to supplement. When looking for cybersecurity systems look for solutions that offer predictive analytics and machine learning. This means the software will utilize data from past events to better protect your business over time.
Artificial intelligence-focused security will identify issues with the authentication and application of users. It will also help identify phishing emails and users that are trying to access content that they are unauthorized to do so. AI-focused security can also keep data encrypted in transmission and analysis to ensure it never falls into the wrong hands.
To learn more about the role of AI to help keep your business financial data safe, check out the accompanying infographic below.
Infographic created by Donnelley Financial Solutions, a financial software company