The internet has made it easier for entrepreneurs to launch their businesses. The upside is the unprecedented surge in innovation we are currently experiencing. The downside is that the internet has spawned scammers making the business environment riskier than ever. In this Macropay review, know the ways your business can avoid online business scams.
Currently, cybercrime is one the fastest growing criminal activity. To make it worse, small businesses owners tend to invest more in survival rather than in internet security. However, Accenture reported that 43% of cyberattacks are aimed at small businesses. In addition, only 14% of small businesses are prepared to defend themselves.
As such, having a strategy to combat online scams and attacks is vital for small businesses. In addition to learning how to detect online fraud, here is how your business can safely guard against online scams based on a Macropay review.
1. 360° security strategy
Implement a 360° security strategy that factors in external and internal stakeholders. It is important for businesses to recognize that scams can originate from within as well as outside the business. Staff members, customers, suppliers and third parties are all potential scammers. Thus, it is important to treat your business like a separate entity that has unique security requirements. Vet all potential associates using antitrust policies.
2. Security training
Provide security training for all your staff. This will help your internal stakeholders to recognize scam red flags. In addition, your staff will be equipped to make qualitative risk assessments before sharing business information.
3. Stay up to date with software updates
Only use the latest software version, this is because old software is often vulnerable to scammers. The evolving nature of the internet and cyber security requires diligence to stay ahead of scammers. Do not delay security updates as this gives scammers a potential opening.
4. Be hyper-vigilant
Pay attention to flagged emails as scammers use similar details like email addresses to ones your business interacts with. In addition, never click on a link from an unverified source. If in doubt, contact the client or supplier by phone to verify requests and instructions.
5. Partner with proven businesses
As mentioned before, starting a new business is costly and expensive. About 20% of businesses fail in the first year according to Entrepreneur.com. To minimize your business overheads while maintaining the highest security and quality standards, it is important to have the right business partners. Macropay, for example, is the leading payment gateway with over 13 integrated payment schemes and the largest market penetration in Europe, Australia, New Zealand, and the Americas.
Macropay helps businesses keep their data and assets secure. Also, Macropay stays up to date with the latest developments and cyber security features so that business can focus on innovation and growth. To learn more about Macropay tech and financial solutions, please contact us today on firstname.lastname@example.org.