Basic Cybersecurity for Financial Service Providers: Passwords
Basic Cybersecurity for Financial Service Providers: Passwords
April 20, 2020

Cybersecurity is something that affects businesses of all sizes. These are some basic steps you can take to ensure that your business does not fall victim to cyber threats. In 2019, there was an increase of 17% for Data Breaches according to James E. Lee, COO of the Identity Theft Resource Center.

While most people assume this only happens to major corporations, thieves are going after large and small businesses. An easy way to prevent that is to implement a strong password policy across your organization.

Here are some basic guidelines:

  • Enforce 2-factor authentication across the business if possible
  • Require passwords to be changed throughout the year
  • Use passwords that are 8+ characters long that include numbers and symbols
  • Do not use the same password that you use for your personal accounts for business related accounts
  • If dealing with multiple complicated passwords use a secure password manager instead of writing down passwords near workstations
  • Use password generators if you are having a hard time coming up with new passwords

Having a good password policy in place for your business is beneficial in helping you prevent loss of important customer data and the possible fines that come along with it.

About the Author

Cesar Avalos
Lead Sales Associate

I enjoy building and customizing computers, playing video games and spending time with with friends and family.

Posted in: Compliance News
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