by Karen Stern
There’s no doubt mobile technology has changed the way we interact with the world. According to a recent study by Constant Contact, 66% of small-business owners use mobile technology, including smart phones and tablets, or a solution like mobile-optimized websites and text messaging marketing. The top two ways small businesses use mobile technology are email and social media marketing. Other key users are the 18% who run a mobile tablet-based payment point of sale (POS) and the 18% who use mobile apps to manage operations, like accounting.
With many small businesses using mobile POS and payments integrated with their accounting systems, it’s no surprise these businesses are exposing themselves to risk by using too few fraud prevention systems. Fraudulent transactions can cost businesses more than three times the value of a sale because of fraud investigation, penalties and the loss of a customer’s future business, as just a few examples. Attackers aim for the weakest security link, making small businesses even better targets for fraudsters.
Here are some tips to secure your device and sensitive cardholder data:
- Make sure your mobile device is not “jailbroken” or “rooted.” A quick Internet search will give you instructions on how to find out whether your phone is in this condition.
- Update to the latest version of your operating system. To ensure the security of your device, update the operating system often.
- Use applications from trusted sources only. Go through your device and uninstall any apps you no longer use.
- Don’t store card data. Check to see whether your payment processing app has this feature. If so, turn it off.
- Lock your mobile device. Though fundamental, this security step often goes overlooked.
Karen Stern (314-983-1204 or kstern@bswllc.com) is partner in charge of BSW Small Business Services, which provides small business tax and accounting services
Submitted 9 years 268 days ago