MONITORING SOFTWARE BLOG

A business that provides financial services or handles sensitive financial data needs to implement security measures to abide by the multiple financial compliance regulations. Not only that, but cyber attackers predominantly target financial institutions. 

According to the IBM X-Force Threat Intelligence Index for 2020, businesses in the insurance and finance sector experienced more cyberattacks in 2020 generally. Hackers are undoubtedly looking to access financial hubs directly, and financial institutions need to protect their client’s financial data. 

Unfortunately, cyber attacks can weaken public confidence around that institution, be a significant liability, and cost millions of dollars (even for midmarket companies). Therefore, it’s important to establish security best practices.

The methods of security you use will depend on the type of data you collect, how it is being collected, and the number of data you collect. If you are new to this industry and need to start upping your security, then be sure to establish these six best practices as soon as possible.

With the growing rise of data breaches and insider threats, businesses need to employ as much security as they can afford. Security software, like employee monitoring software, firewall, and security information and event management (SIEM) systems all provide a level of security to business data. However, the level of security needed and the amount of privacy and compliance laws that need to be followed will determine which software products are needed. 

Most likely, a business will need to consider data loss prevention software or DLP as a security solution. DLP technology is a set of security tools that monitors computers, servers, networks, and workstations to watch if sensitive information is moved, deleted, copied, or modified. Having this type of software working on behalf of your company is crucial as it allows businesses to mitigate data risk and to catch anomalies before they become attacks. 

Read on to learn about DLP software and why you might use it for your data security:

Keeping sensitive data is often a legal requirement for any sized business. Of course, the type of necessary security protections will depend on the type of data being protected, which may require that businesses maintain PCI compliance, SOX compliance, or compliance regulations under GDPR and CCPA.  

There is also a range of solutions that a business could employ to protect sensitive data and which also abide by stringent data security controls. And given the rise of data breaches and insider attacks, businesses and organizations need to consider employing multiple security solutions. 

With the rise of remote workplaces, given the COVID-19 pandemic and the evolution of remote work technology, more businesses can implement remote work to keep business operations flowing smoothly. Of course, with remote work comes a plethora of security risks and new vulnerabilities. Therefore, it is up to the organization to ensure that the operations in place will not only keep the business protected but also follow legal jurisdictions around employee surveillance. 

Whether the solution is temporary or you are looking for something more permanent, your organization needs to ensure that your business is monitoring your remote employees. You also need to make sure that everything you are doing is legal. A system administrator can assist you in this. 

Read on to learn how your system administrator job role can be extended to ensure legal remote monitoring practices. 

Any size business, organization, or governmental agency collects customer information. Whether you accept orders or provide a service, your business is involved in the transaction of sensitive customer data. 

There are rules and regulations around how customer data should be handled. For example, businesses that sell to California residents must abide by the CCPA or the California Consumer Privacy Act. While this is essentially good for your customer’s personal data, it often creates a lot more work for businesses that aren’t prepared for data security. If you’re a small business, then you might struggle to inform your customers of their privacy rights, which may be required by regulation, and to store data correctly. 

Cyberattacks and data fraud attacks were one of the top seven worries for business leaders. According to the World Economic Forum’s COVID-19 Risks Outlook, businesses rated their most worrisome risks for the upcoming year. Among a prolonged recession and industry failures, cyberattacks were rated to worry 50.1% of companies. 

With security threats on the rise, businesses need to be prepared. Here are the top 5 security challenges and how implementing employee monitoring software can address them. 

Unlike at a physical location, a business cannot check-in on their remote workers. Instead, they must do so with the support of technology.

Employee monitoring software, like that provided by SoftActivity, is a monitoring tool that can be deployed to remote employee computers and installed to track time, projects, and remote workplace productivity. Implementing remote employee monitoring is easy and worthwhile.

Read on to see how it can help you identify if your remote employees are working or slacking off!