Protect your business and client data with DMS in the cloud

Cybercrime is unfortunately becoming more of a threat, with the likes of ransomware occurring at an alarming rate, making 2017 a record breaking year for cyber-attacks.

In an ultra-competitive market dependent on the internet, businesses simply cannot afford to stop operating for several days, should they become victim to a cyber-attack. No business wants to be put in the position of being forced to pay a ransom to a criminal organisation in order to restore their data. Knowing how cyber-attacks happen and what technologies can mitigate risk, is critical.

What is cybercrime?

Cybercrime is defined by British police as the use of any computer network for crime – and the high-tech criminals of the digital age have not been slow to spot opportunities.

Cybercrime is one of the fastest-growing criminal activities to date, and covers a huge range of illegal activity ranging from malware and financial scams to computer hacking, phishing and virus attacks.

Malware (short for malicious software), refers to a variety of forms of intrusive software, including computer viruses, worms, Trojan horses, ransomware, spyware, adware, scareware, and other malicious programs. Put simply, it is any piece of software that was written with the intent of doing harm to data, devices or to people. It makes its way onto your device and manipulates and/or damages it, also potentially recording and stealing information like credit card account details; then being able to commit identity theft. This has been known as a more traditional form of malware. More recently, criminals have become a lot more blatant – the increasingly prevalent ransomware; a form of malware, hijacks operations and charges businesses a bounty in order to reclaim their data – basically holding your machine and data for ransom. The only way to recover is to pay the ransom; ultimately funding the criminals to be able to continue doing it to others, or restoring a backup (presuming you have one) on another machine.

Other cybercrime scams include the receiving of an email with an attachment or website link, which when clicked, infects your machine, bypassing any antivirus and anti-malware software, and ‘conveyancing fraud’, which is looked at further later in this article .

Machines using older browsers and those without having had Windows updates installed for example, are putting themselves at higher risk of a cyberattack. It is crucial to keep your machine up to date to try and mitigate risk.

Utilising technology in the cloud can also highly mitigate risk and help to prevent the now regular occurrences of cyber-attacks.

How can document management solutions help to secure your organisation against a cyber threat?

A document management system (DMS) is the safest way to store, retrieve and share sensitive documents. The security it provides protects businesses, its customers and their bottom line, as well as reducing risk from compliance and regulatory requirements. It is a much easier and safer way of transmitting information than email, FTP, and physical document distribution.

Watermark’s hosted document management solution, utilising cloud technology, is ransomware resilient – meaning that if you were to get infected on your machine, you would simply need to reset it and then reconnect to your data, stored in the cloud. No data is lost or held to ransom. Being accredited to the international standard for information management; ISO 27001, also means you can be rest assured of our quality and standards of software and data security. We are proud to uphold this accreditation above industry standard levels, helping to increase the visibility and comprehension of IT security issues.

Email fraud is an additional tool in a criminal’s arsenal. One particular form of this type of scam is ‘conveyancing fraud’, where emails are sent between two parties – a house purchaser and their solicitor for example. The emails sent and received contain sensitive information about the individual, such as a purchase date and identification. The criminal will send an email to the purchaser, which will look like it has come from their solicitor, on the date of purchase with new bank account details. The purchaser will then unwittingly transfer their monies into the wrong bank account. This type of scam has become more prevalent over the last few years, duping £100,000’s from innocent parties.

Our web portal makes the transferring of sensitive information and documents secure and fully encrypted, over the internet. The sending of confidential information via unsecured emails is no longer required, which would have potentially left you open to fraud.

Cyber resilience is a requirement organisations should have in today’s digital era, and utilising a cloud-based document management system would protect you from both internal and external breaches of sensitive business and client information. DMS also provides a central location for businesses to capture, manage, share and protect all of its files.

It is never going to be easy to fight cybercrime and protect sensitive business and client data, as well as your business reputation. And there are no guarantees. Cyber criminals are inevitably always one step ahead.

However, utilising a cloud based document management solution, you can put in place measures providing highly effective protection. Contact us today to see how we can help with your cyber resilience strategy.

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