FINANCIAL SERVICE PROVIDERS / ACCOUNTANTS

Secure Financial Services Accountant

Australian accounting and financial services firms are key targets for data breaches as the client, staff and commercial records they hold are commonly used to commit tax-refund fraud, superannuation fraud, identity theft and financial fraud against firm clients.

Reported cyber attacks against financial services firms rose by 80% in the last year, reflecting the increasing number of attacks aimed at financial services organizations.

Financial Service providers have a clear incentive to fortify their defences. In a CapGemini report, it was found that security concerns deter nearly half of consumers (47%) from using digital channels.

Ensuring that data is secured and your organization has a strong cyber security policy is critical in the digital economy if you wish to reduce churn and attract competitors’ customers – 74% of consumers would switch their bank or insurer in the event of a data breach.

Preparing to be a trusted data steward is no easy task, however. It means raising the bar on multiple dimensions:

  • Encrypting client data stored
  • Encrypting client information being shared with internal stakeholders and external parties
  • Aligning data practices with consumers’ expectations
  • Finding innovative ways of providing non-intrusive security to consumers
  • Revisiting the data governance model.

Who poses risk?

Cyber Criminals Secure
Competitors Secure
Employees Secure
Banking Transactions
External Hackers
Data In Transit
Employees Past Present
Third Party Software Providers
Communications
Employee Behaviours
Data In Storage

What information is valuable?

  • Tax file numbers
  • Superannuation information
  • Bank account details
  • Personal information
  • PII
  • Passwords
  • System access

Vulnerabilities 

  • Banking transactions
  • Employees (current and past)
  • Employee behaviours
  • External hackers
  • Third party software providers
  • Data in storage
  • Data in transit
  • Communications – internally and with third parties

Tax file numbers, superannuation information, bank account details – the list of client information financial advisers and accountants must keep safe is both precious and detailed. Which means their obligations to ensure this data is secured is more arduous than for most businesses.

Financial advisors and accountants, must know where their client’s data is stored, how it is secured and be confident regarding the security and integrity of their systems.

Cryptoloc Technology helps organisations to secure what matters to your organisation and to provide a secure way to share information with third parties. Providing data security solutions to help you retain customer and stakeholder trust.

Our guarantee to you

Cryptoloc® provides an exceptionally high level of security. We uniquely encrypt each and every file with our patented two-stage encryption algorithm.

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