Book a Free IT Security Audit for your business
As business owners, we often find ourselves managing a multitude of tasks, including online purchases for our companies. From investing in new office equipment to subscribing to digital services, online shopping is an integral part of running a modern business. However, this convenience comes with potential risks. Cyber criminals are always on the lookout for opportunities to exploit vulnerabilities, making online retailers a popular target for data breaches.
This article aims to equip business owners with essential tips to secure their payment information and safeguard their businesses from potential cyber threats.
When making online purchases, it’s advisable to use credit cards instead of debit cards. Why? Debit cards are directly linked to your bank account. If a cybercriminal gains access to your debit card information, they could potentially drain your bank account. Disputing fraudulent charges can be a lengthy and complex process, especially when it involves replacing stolen funds from your own account.
On the other hand, credit card purchases add to your debt, which means that a fraudulent charge won’t immediately impact your cash flow. If you spot a suspicious charge, you can dispute it without losing access to your cash.
Many online retailers offer the option to save your payment details for future purchases. While it may seem convenient, especially if you frequently shop from the same platform, it’s safer to decline this option. Even the most reputable online retailers can fall victim to data breaches. By not saving your payment information, you reduce the risk of having your details stolen during a cyber attack.
Internet browsers like Chrome, Edge, and Firefox offer the option to save your payment details for autofill. This feature can be a time-saver, but it’s a risky one. If cybercriminals manage to gain access to your browser, either physically or remotely, they can steal any information stored for autofill purposes. Although it may seem inconvenient to manually enter your payment details each time you shop online, the added security is well worth the extra effort.
In the digital age, cybersecurity should never be an afterthought. As business owners, it’s crucial to take proactive steps to protect our financial information and keep our businesses safe from potential cyber threats.
Remember, the inconvenience of following these steps is a small price to pay for securing your business’s financial wellbeing.
Stay diligent, stay informed, and stay safe.