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Protect your financial records. How to deal with unauthorised access and manipulation

by , 09 April 2015
When it comes to protecting your accounting records, the risks you may encounter are found in different areas, from unauthorised access, manipulation of financial information (i.e. when someone makes unauthorised changes to the information in the accounting records) to loss of financial information.

You need to protect your financial records protected against these risks! And today we're going to show you how to deal with unauthorised access and manipulation.

Unauthorised access and financial record manipulation: How to prevent it

Keep in mind that unauthorised parties can gain access to your financial records, e.g. employees within the business, hackers or other third parties that are in competition with you.

This means that third parties may obtain financial information of your company that could be used against you:

a. Employees may see sensitive payroll information that could result in strikes or unhappiness due to salaries being paid to peers.

b. Competitors in the market may gain access to financial information like sales forecasts and prices, which could be used to their benefit and to your detriment.

c. Hackers could either delete information in the accounting records or use the information for personal gain.

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d. Identity theft or company hijacking is achieved where fraudsters falsely assume your identity and perform illegal transactions or steal your assets. This is easier for them to accomplish if they have access to some of your important information and records. Use the solution below, 'How to protect your accounting records from unauthorised access and manipulation', to reduce this risk.

Of course, you have your ways of protecting your accounting and financial records against such risk!

One of the most common ways of doing this is to actually put all this information in a secure room so no one who isnt authorised has access to it.

Maybe you think it's not necessary to tell you this, but all electronic files and information should be saved on a local server that is located in a secure server room and that:

a) Is equipped with passwords only management and accounting personnel have been entrusted with; and
b) Is fixed into the room and can't be removed from the room without severe physical force.

Back up such information because taking such risks is just not worth it.

On a final note, should you get an alarm system to keep your financial records safe? You already know the answer!

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