5 Ways to Better Protect Your Customers’ Financial Data cashier taking payment

As a merchant, protecting your customer’s financial data should be a primary concern. If you become slack in this area, you risk compromising your customers’ safety and your reputation as a business. With mobile payments and credit cards becoming increasingly popular ways to pay for goods and services, criminals have come up with new and clever ways to commit fraud.

When it comes to handling your customers’ financial data, you can never be too safe. To protect your business and your customers’ well-being, here are a few things you can do to maximize financial security and reduce the likelihood of fraud.

Carefully choose your employees.
Ensuring your customers’ financial data remains secure starts by making sure you have the right people on your team. While you might be tempted to hire anyone who seems qualified, it’s important that you dutifully screen potential employees before you hire them. Do a background check to make sure candidates don’t have a criminal history of fraud or other financial crimes. You want to be sure that your employees are trustworthy, so make sure you actually contact and speak to their previous employers and follow up with their references.

Conduct proper training.
It doesn’t matter how trustworthy your employees are. If they’re not trained properly, your customers’ financial data is at risk. This not only means training your staff to properly execute financial transactions but also ensuring that your computers are properly protected against potentially hazardous sites that include malware.

If necessary, create a policy that computers can only be used for business purposes or sites that are pre-approved (for example, stipulate that your employees can’t open attachments from your computers). Staying on top of these things and continue training your staff on new technologies as they emerge should help keep data secure and reduce the risk of fraud.

Only use PCI-compliant software.
When it comes to handling your customers’ credit card information, only use PCI-compliant payment gateways that filter out fraudulent transactions using anti-fraud tools like AVS (Address Verification System). All of the software you use should be PCI-compliant and tested frequently to ensure customers’ financial data remains safe and secure. If you’re storing customers’ credit card information electronically, make sure that it’s properly encrypted. If their info is stored physically, make sure that it’s housed somewhere secure that isn’t easily accessible (for example, a locked filing cabinet or safe).

Beef up your password requirements.
If your business involves an online component, ask customers to create a more complex password that involves multiple special characters. A weak password system puts your business at risk of fraud. If employees are required to use a password to access the system, make sure they change their password every 90 days to ensure security.

Have a security breach plan in place.
Even if you’ve done everything necessary to secure your customer data, sometimes security breaches still happen. To make sure things are handled in a swift and secure manner, it helps to have an emergency plan in place for securing compromised systems. If something goes wrong, make sure your employees know exactly what to do and stay in constant touch with your customers. Remaining transparent and providing follow-up support to your customers will help ensure that you’re committed to security.

This Post Has 13 Comments

  1. 720p

    After I initially left a comment I appear to have clicked on the -Notify me when new comments are added- checkbox and now each time a comment is added I receive four emails with the exact same comment. Perhaps there is a means you can remove me from that service? Thanks a lot! Kevyn Bayard Hannis

  2. altyazili

    I am glad that it turned out so well and I hope it will continue in the .future because it is so worthwhile and meaningful to the community. Tessi Roland Adrea

  3. online

    I am extremely impressed with your writing skills and also with the layout on your blog. Is this a paid theme or did you modify it yourself? Anyway keep up the excellent quality writing, it is rare to see a great blog like this one nowadays.. Jacky Chev Coh

  4. netflix

    I think the admin of this web site is genuinely working hard in favor of his web site, since here every information is quality based data. Starr Leeland Caz Orel Ignazio MacGuiness

  5. movie download

    Cool idea! Underfloor heating is good that warm air rises from the bottom and warms everything in its path until rising to the ceiling. Merle Hercules Max

  6. 123movies

    Hey, thanks for the post. Really thank you! Keep writing. Shauna Mortimer Killie

  7. movies

    Unfortunately you can not write as fast as I read. I really enjoyed the Beachwood series and the B. H. Ghost series. Have been waiting to see what you would do with Lacy when she is called home, this promises to be a very entertaining and fun read. Look forward to any of your books coming out from this group. Raine Ario Nealson

  8. dublaj

    Very nice blog post. I certainly appreciate this site. Continue the good work! Ardra Raymond Desai

  9. online

    Awesome write-up. I am a normal visitor of your website and appreciate you taking the time to maintain the excellent site. I will be a frequent visitor for a long time. Calley Emmott Horten

  10. 720p

    Hello there, just became alert to your blog through Google, and found that it is truly informative. I am gonna watch out for brussels. I will be grateful if you continue this in future. Many people will be benefited from your writing. Cheers! Camila Isidore Froehlich

  11. pieri

    enter site cialis c 50

    [url=http://cialisonlinefeb21.com/]buy cialis online[/url]
    cialis comprar en madrid

    cialis farmacodinamic

  12. aksiyon

    It is not my first time to pay a quick visit this site, i am visiting this website dailly and take pleasant data from here daily. Ninetta Bax Hamner

  13. turkce

    Thanks for sharing your thoughts about towarzystwo. Regards Pauletta Hector Sayer

Leave a Reply