Page 59 - Payout Magazine Online Volume 8.6

a troubling number of businesses remote wiping on devices
Pay no attention to Fraud
The BYOD or the bring-your-own-device
Even despite the increasing number of movement has been hugely popular with
business struck in 2017, the Sage and Payment businesses and employees alike because they
Solutions Payment Landscape report found can use the device they want, and you don’t
how 20 percent of businesses spent nothing have to pay to supply them with expensive
on preventing fraud. Many of them instead company devices. However, one of the terms
depend on free tools that their payment and conditions of them being allowed to this
gateway gives them. That might be a great is that they should all have a software on their
start, but you need to strengthen the defenses phone that lets you wipe important company
against cybercriminals because if they get information off the phone remotely.
their hands on your hard-earned cash, they will
Why? Imagine the following scenario. You
be merciless.
have hired John Smith, but he’s a lazy and
unscrupulous employee. John has chosen
what is the Customer Purchasing to participate in the BYOD policy at your
behavior and information Like? company. One day, you have had enough of

Before you ever hit the “Accept Transaction” John’s shenanigans, and you fire him. John
button for a customer, you should first look is furious, and he’s looking for a way to take
vengeance on your company. If you don’t have
at their profile, order information and their
delivery details. An order that gets placed in the ability to remotely wipe sensitive company
the early morning or in high quantity should information on John’s phone, he could decide
to leak thousands of important client files with
raise a red flag, especially if the fraudster could
easily resell the product. confidential information that wreaks havoc
on your business or even kills your business
altogether. The BYOD movement has many
buy geo-location technology positives, but you have to understand the
negatives as well if you will stay safe.
It might sound like some extra cash, but
geo-location technology helps you to find the
location of an order, and you can determine if keep your Company software
the order comes from countries where fraud updated
is rampant like Nigeria, India, Spain and Brazil. A lot of people may not realize it, but without
You can use geo-location technology to look regular updates to your computer, you could
at the area of the order and the type of order.
potentially be vulnerable to hackers. It might
Does it fit the customer’s profile? If not, you sound like a hassle, and almost no one likes to
may want to ask a few more questions before sit and wait 30 minutes for Microsoft updates,
passing the order through. but they’re important because they take care
of deadly exploits that could be used against
Educate and train your Employees your business.

Unfortunately, your business will only be As a business owner, you have to take
as strong as your weakest link. Employees whatever measures you can against online
have a tendency of being more relaxed in fraud. It might not sound like fun, but it will
the workplace when it comes to clicking on keep your business afloat during the hard
suspicious links, which can lead to the entire times so that you never have to worry about
network becoming infected. This is why you compromising sensitive customer data that
must train your employees to stick with a plan. could later be used against you. According
Good education and keeping your employees to Insurance Journal, over 53 percent of
understanding of why they need to practice businesses experienced some kind of cyber
good security is important. It wouldn’t be attack within the last year. That’s only for one
overkill to ask them to dedicate an entire work year. If you’re not taking measures to protect
day to learning these practices. You want to your business, sooner or later, it will be noticed
ensure it will be ingrained in them. and by the wrong kinds of people.

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