Is your Smart Phone a Financial Business Risk?

Managing the risks of using a mobile device for work makes you smart

We use our smart phones more than ever these days. We virtually run our companies from them, play games, watch movies, take security breachpictures, and even make phone calls with them. It’s no surprise that the versatility and conveniences of these handy devices have opened up new avenues for cyber criminals to exploit our personal information.

Financial risks

Having confidential information stolen from your smart phone is a serious risk.  It can lead to breaches in your social network, bank accounts, and client information. Not only is this bad for individuals, but for a business it can be expensive to repair the damage. It is costly to notify contacts of the breach then rebuild the company’s image to regain customer trust. Below are tips we offer to protect the information on your smart phone.

Protecting your business phone is easy

Always make sure you are downloading apps from a reputable source. Apps found online and in the Android marketplace have not been screened for malware and can open the door to cyber thieves.

Review the customer reviews before downloading any app onto your phone. It sounds basic but could save you time and money in the long run.

Be aware when an app asks for permissions during the uploading process. Now we know this one is getting harder to avoid with every app wanting to connect to social platforms or asking for access to your phone’s hard drive. If you follow the key points above you should be safe but there are no guarantees.

Safe phone browsing habits

These next points are  good to remember when browsing from your laptop or your phone. It might be a good idea to go over a few of these principles with employees to make sure the phones they are using for work don’t expose your company to hackers.

  • SMS or VM Phishing: If you get a questionable text message or voice mail, call the company back directly and verify with them before handing over important information.
  • Password Guard: If your smart phone is stolen or lost, it’s easy for someone to get access to your social media logins or even bank information. Keep your phone password protected.
  • VPN Entree: If you’re using your smart phone to access a corporate network, use SSL VPN to connectito secure the session. This keeps the corporate information safe from prying eyes.
  • Wi-Fi Hotspot Security:  Never connect to any password-protected sites such as social media, banks, or PayPals while using an unsecured or free Wi-Fi hotspot. Doing so is just asking for your personal information to be stolen.
  • Utilize Security Apps: Think of the software you download to protect your computer, there are similar options for your phone. Use them to keep your phone safer.
  • Update: It seems simple, but update your apps and keep your software current.

Now that you know how to better protect your personal information on your smart phone, pass it on. Share this with your employees and colleagues to make sure they are also protected against cellular cyber theft.

Source: “The Art of Securing Mobile Devices,” by Troy Gill, GPEN, Rough Notes, Pg. 44,46
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Is your Smart Phone a Financial Business Risk?
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Categories: Breach Of Security, Cyber Liability, Identity Theft, Risk Management

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