With the rise in data breaches, your security is always at risk, but it is possible to reduce the chances you’ll become the target of industrious hackers.
The best defence against these breaches involves tightening up vulnerabilities and making your data less appealing to cyberthieves. These hackers prefer low-hanging fruit, and you can keep your data out of reach with a handful of strategic decisions.
1. Choose Your IR Software Wisely
Your CRM platform and IR website is a partnership between your team and an IR firm that delivers investor management software.
You have to vet this firm just as you would the associates on your payroll. It’s the only way to ensure this firm won’t undermine your internal security protocols and expose your data.
To ensure your CRM software doesn’t have a chink in its security, make sure you compare an IR’s firm commitment to security. This scrutiny should extend to your IR website, especially if the same firm facilitates both platforms.
You should expect the following security features in yourinvestor relations platform:
- Audits and Testing:The best investor relations company constantly assesses its security to ensure its protections are up to the task. This testing should include internal and external audits and penetration tests.
- Encryption:Expect no less than the latest cipher suites to protect all data moving between your team and its servers.
- SOC-2 Type 2 Certification: An IR firm can only receive the System and Organization Controls 2 Type 2 certification if it’s compliant with data security best practices.
- ISO 27000 Certification: This accreditation ensures the IR software and website follow security standards set by the international security management industry.
2. Set Secure Passwords
Password management is an essential step in your security plan. A strong password provides a formidable defence against brute-force attacks.
A brute force attack is the oldest hacking method in existence. Long before trojans, malware, or phishing attacks, hackers would guess at login info on a trial by error basis.
It’s still an effective hacking method today, with brute force email attack attempts rising by 671% last year. That’s because people and organizations use easily guessed passwords that make brute force a fruitful hacking method.
You can avoid becoming a victim by choosing a password that includes at least 15 characters that span upper- and lowercase letters, symbols, and numbers. You should change passwords every one to three months.
3. Give Login Credentials to the Right People
The latest CRM platforms are designed to tear down tech and information silos so that staff have easier access to vital data. But that doesn’t mean everyone on staff needs access to your CRM database.
Once you set strong passwords, make sure you give them to vetted staff who have a reasonable need for this data. By limiting access to this platform, you’re reducing vulnerability points.
4. Revisit Security Training
There’s a good chance that an employee accidentally exposes confidential material whether by leaving a mobile device unattended or getting hooked by a spear phishing email.
They’re less likely to make these costly mistakes when they have the right training.
Cybersecurity is a constantly changing landscape, so you should aim to refresh their cybersecurity knowledge at least twice a year. These training days help identify the latest trends and threats while serving as a helpful reminder to keep security top of mind.
The Takeaway:
Your CRM platform and IR website contain valuable financial, client, and proprietary data. You owe it to your shareholders to take security seriously. Follow these tips to protect your data today.
