5 ways to protect your clients’ data

Your clients have learned to fear fraud and data breaches at big companies because of high-profile hacking incidents like the one that happened to Target last fall.

But small businesses and independent offices need to worry about protecting their customers’ data too, says Bloomberg. There are things you can do at work to ensure you’re not the unintentional source of sensitive client information.

Read: Economic crime down, but threats persist: PwC

First off, buckle-down on offline data sharing. Keep papers with clients’ sensitive account information under lock and key, and ensure your administrative procedures route the papers through as few hands as possible when performing routine tasks, says Bloomberg.

You should also train your employees to recognize common scams like phishing emails, in which fraudsters pretend to have a legitimate business interest with your firm or your client and ask for financial information.

For the other three tips, click here.

Also read:

Be proactive to prevent fraud, says CSA

Canadians fighting ID fraud, says survey

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.