How Artificial Intelligence Can Help Keep Your Financial Data Safe

Today’s business world must keep ahead of cybersecurity threats with strong defenses. Making sure your financial data cannot be compromised looks different for everyone; however, there are a variety of countermeasures you can put in place.

Security breaches are a disaster for small and large organizations alike. From using a simple phishing email to deliberate corporate espionage, the threats are very real. While you may already have a traditional cybersecurity system, it’s essential to maintain the latest tech to fend off more sophisticated attacks from hackers.

Protection From Security Threats

One of the most common ways that data is compromised is through stolen credentials. This can be done through phishing or employees using weak or recycled passwords. Phishing is where people imitate legitimate users to try to capture users’ credentials. This can be done through email or illegitimate websites. To protect your organization, you should offer two-factor authentication and initiate policies for password effectiveness. This would mean your passwords are not only complex, but they are also protected in two distinct forms of identification.

Phishing schemes may appear simple but are remarkably complex and are one of the most effective forms of social engineering attacks. Teaching your employees to recognize these threats is essential for the security of your sensitive data. If an employee receives a suspicious message, instruct them to forward it to the IT team and do not open files or click links. You should also have a traditional cybersecurity system that offers artificial intelligence to help protect against financial data threats. This will help protect against possible threats against the firewall as well as identifying weaknesses with authentication and the encryption of data. If you are interested in learning more about how AI can help against cybersecurity threats, check out the accompanying infographic below.

Infographic created by Donnelley Financial Solutions, a financial consolidation software provider