Accounting for cyber threats

Simple steps to keep your business and data secure

By Downing & Lindner

IN today’s digital world, cyber security is not just an IT concern, it’s a vital part of protecting your business, your finances, and your personal information.

As accountants, we see regularly firsthand how devastating cyber fraud can be for individuals and businesses alike.

In addition to multi-factor authentication (which is a must), one of the most effective defences is the use of strong passphrases for internet banking and online accounts. Unlike simple passwords, passphrases are longer and harder to crack. Choose a unique phrase that combines random words, numbers, and symbols; something memorable for you but difficult for hackers to guess.

Another critical measure is implementing call-back procedures when processing financial transactions. If you receive payment instructions via email or text, always confirm the request by phoning a verified contact using a known number from a secure source; never rely solely on the details provided in the message.

Finally, always check the legitimacy of emails before clicking links or opening attachments. Cybercriminals are becoming increasingly sophisticated at impersonating trusted organisations and individuals. Look carefully at sender addresses, spelling, and tone, and if something seems unusual, verify it through another channel.

At Downing & Lindner, we’re committed to helping our clients safeguard their financial wellbeing & thrive financially. Please contact Tristan Lindner, Partner, on 07 5476 1511 for any accounting, taxation & business assistance.