15 Best Practices for Keeping Your Business Account Secure
With cyber threats constantly evolving, staying ahead means taking proactive steps to protect your bank accounts.
In this article, we’ll take you through some key cybersecurity practices that can help safeguard your business from potential threats. By implementing these strategies, you’ll be well on your way to a more secure business online.What are the essential tips for digital security?Some essential tips to keep your business secure online are:
- Use unique, secure passwords
- Enable two-factor authentication (2FA)
- Do not share passwords
- Use secure password recovery methods
- Verify suspicious communications
- Avoid logging in in public spaces
- Avoid unknown Wi-Fi networks
- Keep your devices updated
- Stay up to date on common and emerging scams
- Train your team
- Protect against ransomware attacks
- Use encryption
- Monitor account activity
- Regularly review security policies
- Work with cybersecurity professionals
1. Use unique, secure passwordsAvoid reusing passwords across multiple accounts. Instead, use a password manager to generate and store complex passwords. A strong password should be at least 12–16 characters long and include a mix of uppercase and lowercase letters, numbers, and symbols.2. Enable two-factor authentication (2FA)Adding an extra layer of security significantly reduces the risk of unauthorized access. At Narvi, we offer many 2FA options such as SMS, authentication apps, hardware devices, and biometric verification, providing an additional layer of defense for your online business banking.3. Do not share passwords Keep login credentials private and use role-based access control (RBAC) to limit who can access what within your organization. Follow the principle of least privilege (PoLP), granting employees access only to the data they need to do their jobs.If you must share passwords, use secure password-sharing tools rather than sending credentials via email or messaging apps.With a Narvi account, every user receives unique credentials with role-based permissions, minimizing the risk of unauthorized access and credential leaks. We offer a guide on how to invite multi-users of the company bank account.4. Use secure password recovery methods If your system allows it, set up recovery options such as backup emails and security questions. However, avoid using easily guessed answers, like your birthdate or pet’s name.5. Verify suspicious communicationsIf you receive even a slightly suspicious email, SMS, or phone call, double-check its legitimacy before responding. Watch out for phishing attempts that pose as trusted sources, such as banks, business partners, government agencies, or a C-level exec from your company. When in doubt, contact the company/person directly using their official website or phone number.6. Avoid logging in in public spaces Cybercriminals don’t just attack online, they take advantage of physical spaces too. Therefore, avoid accessing sensitive accounts (like banking platforms) in public places where others can see your screen. If you need to work in a public space, a privacy screen can prevent unauthorized individuals from viewing your sensitive information. Make sure to also lock your computer or mobile device when you’re not using it. This simple step can prevent others from accessing your information if you ever leave your device unattended.7. Avoid unknown Wi-Fi networksPublic or unsecured Wi-Fi can be risky, as cybercriminals may intercept your data and access sensitive information. To stay safe, use a VPN (Virtual Private Network) to encrypt your connection when handling business accounts.
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8. Keep your devices updatedRegular updates help protect against security vulnerabilities. Turn on automatic updates for your devices, operating system, browsers, and security software to make sure you’re always covered with the latest cyber protection.9. Stay up to date on common and emerging scamsWatch out for common fraud tactics, including phishing emails, fake invoices, fraudulent investment schemes, and business email compromise (BEC) scams. Cybercriminals often disguise themselves as trusted partners or clients to trick businesses into transferring funds or revealing sensitive data.To stay up to date on emerging scams, follow trusted sources such as the Cybersecurity & Infrastructure Security Agency (CISA), FinTech industry blogs, and banking/government agency security alerts. 10. Train your teamConduct regular cybersecurity training to help employees spot and respond to threats, and create a culture where employees understand the importance of cybersecurity.Encourage your team to report anything suspicious, and run simulated phishing tests to gauge their awareness and readiness.11. Protect against ransomware attacksRansomware is a growing threat that can lock your files until you pay a ransom. Protect against ransomware by keeping backups of important files, use strong endpoint security solutions, and educate employees on how to avoid harmful links and attachments.12. Use encryptionSecure vital data with strong encryption protocols (code only authorized people can read) to protect it from unauthorized access. Encryption ensures that even if data is intercepted, it’s unreadable to attackers.13. Monitor account activitySet up alerts for unusual login attempts or transactions to detect potential breaches early. Many banking and financial services, for example, provide real-time alerts that can notify you of suspicious activities.14. Regularly review security policiesEnsure that your company has a comprehensive security policy in place and update it regularly. As cyber threats evolve, your policies should reflect the latest best practices for keeping your business secure online.Make sure to outline clear guidelines on how employees should handle data, use business devices, and report security incidents.15. Work with cybersecurity professionalsConsider hiring cybersecurity experts to strengthen your company’s level of online security. They can conduct routine security assessments to identify vulnerabilities in your business’s security and address them effectively.
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Cyber threats are constantly changing, so, as a business owner, it’s important to stay ahead by adopting strong security measures for your organization.Last but not least, to ensure your business accounts are secure, choose vetted banking providers who invest in keeping your account safe to work with. Narvi Payments is a fintech leader in banking security and ensures your accounts and transactions stay safe and seamless– even when making international transfers. For more secure banking, open an account with us today!
Published March 6, 2025.DisclaimerThis publication is provided for general information purposes and does not constitute legal, tax, or other professional advice from Narvi Payments Oy Ab or its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.AuthorValeriya Kushchuk, now Narvi's Digital Marketing Manager, was previously a business reporter and a marketer in the cryptocurrency space.
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