Strengthening data protection for you and your clients
By Phillip A. Kopischke, CPA (inactive)
October 2, 2023
As MNCPA members, we understand the immense value of data, not only for our organizations, but also for the clients and companies we serve. With October marking Cybersecurity Awareness Month, it's the perfect time to delve into the significance of data privacy and explore how we can collectively bolster our defenses against cyber threats.
In this article, we'll discuss why data protection matters, offer insights on safeguarding your data and your clients' data, and provide proactive measures to fortify cybersecurity.
Safeguarding your data and your clients' data
Here are key strategies to enhance data protection for your organizations and clients.
- Data encryption: Implement robust data encryption protocols to secure data at rest and during transmission. Encryption ensures that even if data is intercepted, it remains unreadable and unusable to unauthorized parties.
- Multifactor authentication (MFA): Advocate for the adoption of MFA within your organization and among your clients. MFA adds an extra layer of security by requiring multiple forms of identification before granting access, reducing the risk of unauthorized entry. This proactive approach helps identify and mitigate potential vulnerabilities promptly.
- Regular security assessments: Conduct routine security assessments and keep systems updated with the latest security patches.
- Employee training: Educate your staff and clients on cybersecurity best practices, emphasizing the importance of data protection. Well-informed individuals are better equipped to recognize and respond to threats.
- Firewalls and intrusion detection: Use advanced firewalls and intrusion-detection systems to safeguard networks. These tools play a critical role in identifying and preventing potential threats.
- Data minimization: Encourage clients and organizations to collect and retain only necessary data. Dispose of unnecessary data securely to minimize exposure in case of a breach.
- Privacy policies: Review and update privacy policies to ensure they align with the latest regulations and standards. Communicate transparently with clients about data handling practices.
Here are a few best practices to protect your own data.
- Strong passwords: Create strong and unique passwords for your accounts and update them regularly.
- Be wary of phishing: Be cautious of suspicious emails or messages requesting sensitive information.
- Secure devices: Keep your devices secure with passwords, PINs, or biometric authentication and avoid using public Wi-Fi for sensitive transactions.
- Review statements and alerts: Regularly review your financial statements and account activity. Report any unauthorized transactions or suspicious activity immediately.
Making security a priority
Data protection is a shared responsibility among MNCPA members, and it's vital for maintaining trust and security. By prioritizing data security, educating ourselves and our clients, and adopting proactive measures, we can collectively strengthen our defenses against cyber threats.
This Cybersecurity Awareness Month, let's commit to safeguarding our data and the data of those we serve, ensuring a secure digital landscape for all.
Phillip A. Kopischke, CPA (inactive) is the president and CEO of SharePoint Credit Union. You may reach him at phillip.kopischke@sharepointcu.com.
