The numbers are quite alarming. More financial firms have experienced more cyberattacks this year than in previous years. Data breaches also showed an alarming jump. More than half of these firms have also been hit by ransomware in recent times.
But here's what really matters for your finance firm. You are not just part of some statistic. You are handling client tax returns, business financials, social security numbers, bank account details, investment portfolios, and payroll data. That's exactly why hackers are coming after you.
What makes accounting firms such tempting targets? It is simple economics. A single tax return sells for $50 to $200 on the dark web. Business financial records go for even more. Your firm's got hundreds or thousands of these files sitting on your server right now. If you do the math, you will realize that you are sitting on a goldmine for cybercriminals.
Here's how it typically goes down: They compromise one email account through a phishing email that looks like it's from the IRS or a client. They see that when tax season hits, you are super busy at work. They find out your biggest clients and how you communicate. They strike pretending to be a client requesting documents or a vendor changing payment details.
Key Cybersecurity Gaps in Firms
Tax season hits, and your firm transforms into organized chaos. CPAs are buried in returns, extensions are flying out the door, and clients are calling non-stop. Nobody's got time to think about IT support or network security. That's when the cracks really show.
Your Password Situation Is Probably a Mess
What's actually happening at most firms? Someone needs access to your tax software, so they create a password. Then, they use the same password (or a slight variation) for email, the client portal, QuickBooks, and everything else because remembering different passwords is annoying. It is also likely that one main personnel knows the password, tells everyone else, and nobody ever changes it.
What about two-factor authentication? Most firms have it available, but don't enforce it. Staff complain it's too much hassle during the busy season. So it stays optional, which means it stays unused.
Client Data Is Scattered Everywhere
Where is your client data currently? It's most likely on your primary server, someone's laptop, backed up to the cloud, kept in email attachments, on flash drives, or even on that antiquated computer in the back office.
If your systems were hacked, how quickly could you check precisely what information they had obtained? Most firms would need days or weeks to piece it together. By then, your clients' information is already for sale.
Email Security Is Basically Non-existent
Your inbox probably has a lot of emails you haven't read yet, and more are coming at a great speed. In that crowd, there could be a phishing email that looks completely legitimate. One tired and careless click, and you have just handed over your credentials.
Software Updates Keep Getting Postponed
What about performing updates for tax software? You probably pushed it for after the tax season. The same applies to Windows security patches, as it’s the peak business time. This approach could cost you heavily. Outdated software with known security flaws is the primary target of hackers.
Your tax software, accounting systems, and document management systems require regular updates. Every day you delay is another day hackers can exploit known weaknesses.
Third-Party Access Is a Blind Spot
Do you know how many outside companies have access to your systems? Your cloud backup providers, document management vendors, payroll platforms, and client portal providers all have potential access to your network.
Did you check their security before signing up? Do you know if they've been breached recently? When their security fails, does your contract protect you? Most firms can't answer these questions with any confidence, yet they've handed these vendors the keys to incredibly sensitive client information.
Does Your Firm Meet the Cybersecurity Needs on Long Island?
Time for some tough questions, and honest answers.
- Is everyone using strong, unique passwords for each system? What about the staff who quit? Do they still have your login details?
- Can you honestly say you know every location where sensitive client information is stored? Is any of it encrypted?
- When was the last time your staff received training on security? Could your newest employee explain your firm's security protocols right now?
- How are people accessing client data from home? Do they use a secure VPN, regular internet, the firm devices or personal computers? Is there any difference in security between someone working in the office versus working from their Florida home?
- Who fixes any system issues, and how quickly? Are you retaining any IT support firm? When was the last time someone actively checked your network for problems? Or do you only deal with technology when it breaks?
Be honest with the answers. If you are struggling with more than a couple of these questions, you've got serious gaps. The good news is that these problems are fixable with proper IT support services and cybersecurity measures built for accounting and finance firms.
Solutions Tailored for Your Firm
Generic IT solutions are worthless for accounting firms. You need IT support services Long Island from people who actually understand the financial world, such as tax season crunch time, client confidentiality requirements, regulatory compliance, and the fact that when your systems go down during tax season, you are losing money by the hour.
Managed IT Services Long Island Built for Accounting Firms
Working with an established IT managed service provider, specializing in financial services, can change everything about how your financial firm deals with technology.
Hiring an expert managed IT services means having someone to monitor your systems 24/7. Problems are detected and fixed before they affect your work. Your technology helps you serve clients smoothly and efficiently. The best one is well-versed in server maintenance, software updates, security patches, and network optimization. They will handle all of it while you focus on growing your client base.
For firms on Long Island, in Tampa, St. Petersburg, or serving clients in New York City, working with a local IT support company that understands accounting practices makes a huge difference. They are aware of the regulations that financial firms must comply with. They understand busy season pressures. They can visit your office when you need urgent help, rather than providing remote support all the time.
Real Cybersecurity Services That Protect Client Data
Cybersecurity isn't just about buying one product and being happy. It's building multiple layers of defense that work together to protect your firm and your clients. What does your business need?
- Email filtering that stops phishing in its tracks. During tax season, when you're getting hundreds of client emails daily, this protection is critical.
- Endpoint protection for all devices connected to your network, ensuring they are regularly monitored. When someone clicks a bad link, the system stops the malware before it spreads.
- Network security and monitoring that keeps your entire infrastructure protected. When an unusual activity is detected at an unusual hour, you receive an immediate alert.
- Backup and disaster recovery that can save your firm when ransomware hits. You get encrypted off-site storage, regular testing of restoration procedures, and the ability to bounce back quickly from various scenarios.
- Security training that helps your staff become your best defense. You can benefit from regular training on spotting phishing, handling client data properly, and knowing when something feels wrong.
Why Location Matters for IT Support
Running an accounting firm on Long Island or serving clients in New York City, St. Petersburg, or Tampa? It is a good idea to collaborate with a local IT support business. Should a crisis occur, they can be at your workplace right away. They are familiar with the local business scene and are aware of the regulations that affect your clients.
Protect Your Firm and Your Clients' Trust
Your accounting firm deserves technology that works reliably. You need IT support services from individuals who understand the importance of client confidentiality when it's at stake. You need partners who take a personal interest in your firm's security.
B&L PC Solutions has been helping accounting and finance firms across Long Island, Tampa, St. Petersburg, and New York City build technology systems that help them stay secure. During busy periods, your customers rely on you. That’s why your technology needs to be totally reliable.
Contact B&L PC Solutions today for a complete security assessment. We'll show you exactly where your firm stands and what steps will actually protect your practice and your clients' sensitive information.
Your clients trust you with their most confidential financial information. Make sure your technology infrastructure is worthy of that trust.
Let's discuss how our IT support and cybersecurity services Long Island can protect your accounting practice from real threats.
Tags: AccountingCybersecurity, FinanceCybersecurity, LongIslandITSupport
