When recently surveyed, owners of small businesses overwhelmingly stated that they believed that their merchant credit card processing services were less likely to be targeted by cybercriminals than large businesses. Unfortunately, statistics don't support that belief and small businesses need to be aware.
Complacency is Dangerous
Because small business owners don't think that they are likely targets, many decline to spend the money needed to offer the best protection for their bank accounts and credit card transactions. The most effective protection will cost more, and proper training in the use of mobile terminals and data security takes time as well as money. Complacency is the best friend of thieves and they continually search for naive businesses that are most vulnerable.
Data Means Dollars
As a result of typically lax security measures in place at small businesses, cyber-thieves specifically target such establishments. These companies access the same data as larger business, bank account numbers, credit card numbers, employee social security information and so forth, but they do less to protect them.
It is not uncommon for crooks to get access to such information and clean out a small business's bank accounts in one transaction, leaving the business high and dry and owners wondering how it happened. In October of 2010 a small group of Ukranian Internet thieves were arrested for stealing $70 million from small and medium-sized US businesses.
Protecting Yourself and Your Business
There are a few essential ingredients you must employ if you want to ensure that you are using the best security for your business:
* Use the latest browsers; they offer the best security
* Establish policies related to who can use the Internet at work and when
* Create rules about off site Internet access of your company computers and servers
* Learn how to use the tools that come with your credit card services
* Stay current on security threats, changes and updates
While small businesses have some advantages in flexibility and customer service, they lag behind larger companies who have the money to invest in the latest and greatest technology, IT teams and advanced security systems for their Internet interactions. Spend time learning, researching, and identifying current threats and give your business a chance at success from the get go. This means that as a budding entrepreneur you need to take a more active role and pursue security for your merchant credit card processing aggressively - for your safety and that of your customers.
Michael Rupkalvis owns the Transaction group. The Transaction Group offers cheap credit card processing services and other solutions such as medical marijuana credit card processing for dispensaries throughout the United States.
