Our top ten tips to safeguard your business

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15 May 2019


With more businesses conducting themselves online globally, it’s becoming increasingly important to protect you and your business from online fraud.

hen accessing and transacting finances online, we tend to take the safety of the internet for granted. However, over the past two years half of UK businesses have been affected by fraud, with 49% of fraud being committed online—a sharp rise from previous years.

Negligence can lead to consequences that vary from inconvenient financial losses to, in the worst cases, business failure. As a business owner, most problems can be avoided by making sure that you follow several simple rules, ensuring that security becomes second nature:

Our top 10 rules to follow:

1. Run regular online safety and information security awareness sessions for all employees. This will help staff question and challenge things that seem irregular.

2. Ensure that only those who need to can gain access to company, employee and customer data. This also applies to physical access to computers and servers.

3. Identify areas where your business is vulnerable to fraud. Regularly test whatever processes you have in place to prevent fraud.

4. Know your clients and suppliers. When you know who you’re working with, it’s easier to spot requests or transactions that are out of the ordinary. If in doubt, double check with your clients and suppliers through the contact information on their website or in your database.

5. Perform regular backups to a reputable service, preferably one that is in the cloud and easily accessible when you need it.

6. Develop a bespoke strategy to talk about fraud. Talk to your management team and wider employees about how fraud affects your particular business. They need to understand the risks and how they affect the business.

7. Make sure you and all staff can spot the signs of a phishing email or phone call, and know how to avoid the company being defrauded in this way.

8. Have a software policy firmly in place including usage, updates, licences and what to do with redundant programs and apps.

9. When disposing of redundant computers, servers and mobile devices, ensure all data is thoroughly erased (not just deleted) to ensure fraudsters can’t get ahold of it.

10. If your business enables access to its systems by others in the supply chain, take steps to ensure that they have robust technology and processes in place.

By following these simple steps, you can ensure the safety of your business’ future. Here at Ebury, we stress to our clients that if something doesn’t feel right then take your time and think twice.

If you think you need to report fraud, contact us on fraud@ebury.com and visit the Action Fraud website. If you have any questions about fraud prevention, please speak to your Relationship Manager.