The threat of a cyberattack looms in financial services organizations of all types and sizes. If your company isn’t taking steps to safeguard your networks and data, you face a higher risk of a potentially devastating security breach. Agio has an IT best practices checklist to help you protect your business.

 

Employee Data Protection Strategy

 

The following cybersecurity best practices for hedge funds and other financial entities should be part of your company strategy.

 

Avoid Pop-Ups, Unknown Emails, and Links

Prevent becoming the victim of phishing scams by not clicking on anything that appears suspicious.

 

Use Strong Passwords

Utilize complex passwords consisting of a combination of upper and low-case letters, numbers, and symbols and change them frequently.

 

Take Advantage of Multifactor Authentication (MFA)

Require your employees to present two or more pieces of evidence for authentication when logging on.

 

Utilize Biometric Security

Using voice or facial recognition, palm biometrics, or fingerprint scans can significantly bolster your cybersecurity measures.

 

Connect to Secure WiFi

Choose a hidden, secure, and encrypted office Wi-Fi network. If you have remote workers, consider using a virtual private network.

 

Set Up a Firewall

An external firewall serves as an effective barrier between cybercriminals and your company’s data.

 

Install Anti-Malware Software

This software provides extra protection against phishing attacks.

 

Frequently Update All Software

Don’t ignore updates from your software providers, as they often contain essential security upgrades.

 

 

Invest in Security Systems

While a high-quality network security system requires an upfront expenditure, the extra data safety provides an excellent return on investment.

 

Employ Third Party Controls

Since data breaches often originate from within, these controls can help limit access to sensitive client information.

 

See also  Cybersecurity Checklist for Hedge Funds

Manage IoT Security

Control access to and usage of printers and other devices that exchange data over the internet.

 

Create Cybersecurity Policies

Document all cybersecurity protocols and share them with your employees.

 

Follow the Principle of Least Privilege

Only provide user accounts to those who require access to them.

 

Monitor Privileged Users

The most trusted employees often pose the most significant cybersecurity threat.

 

Use a Risk-Based Approach

Target your cybersecurity measures toward addressing the risks most likely to impact your business.

 

Raise Awareness

Develop a cybersecurity mindset and convey it throughout your organization.

 

Educate and Train

Take time to inform your employees about your company’s personal cybersecurity best practices.

 

Learn About Agio’s Cybersecurity Services

Do you have questions about the IT security best practices checklist? Agio has the answers. Contact us today for more information.