April 21th2022

Farmers Bank offers cybersecurity advice for small businesses in the face of Russian cyber threats

Written by Farmers’ Bank. Posted in Security

Windsor, VA, April 21, 2022 – Cybersecurity is an ongoing concern for small businesses and with the latest Russian cyber threats, it becomes even more important for small businesses to be more vigilant with their cybersecurity plans. The financial services industry has a strong focus on cybersecurity for all customers, including small businesses.

  • Banks and other financial services companies have made cybersecurity a top priority.

  • Banks have the highest level of security among critical US industries, including energy and telecommunications, and the most stringent regulatory requirements.

  • The banking industry works hand in hand with the Department of Homeland Security, the Treasury Department and the Financial Services Information Sharing and Analysis Center to ensure the security and resilience of the banking system.

Farmers Bank recommends these tips to keep your small business safe.

  • Train your employees. Establish basic security practices and policies for employees, such as requiring strong passwords, and establish appropriate Internet usage guidelines, which detail penalties for violating company cybersecurity policies. ‘business. Establish rules of behavior describing how to manage and protect customer information and other vital data.
  • Protect your online environment. It is important to protect your cyber environment just as you would your money and your physical location. Do not use unprotected Internet connections. Encrypt sensitive data and keep antivirus protections up to date on your computer. Use complex passwords and change them periodically. Configure anti-virus software to run a scan after each update and install other key software updates as they become available.
  • Partner with your bank to prevent unauthorized transactions. Talk to your banker about programs that protect you against unauthorized transactions. Positive Pay and other services offer reminders, device authentication, multi-person approval processes and batch limits to protect against fraud. Sign up for SMS or email alerts offered by Farmers Bank to alert you to suspicious activity on your accounts.
  • Use payment card best practices. Work with banks or processors to ensure that the most reliable and validated anti-fraud tools and services are used. You may also have additional security obligations under agreements with your bank or processor. Isolate payment systems from other less secure programs and do not use the same computer to process payments and surf the Internet.
  • Create an action plan for mobile devices. Mobile devices can create significant security and management issues, especially if they contain confidential information or can access the corporate network. Require users to password protect their devices, encrypt their data, and install security apps to prevent criminals from stealing information while the phone is on public networks. Make sure you have reporting procedures in place for lost or stolen equipment.
  • Secure your Wi-Fi networks. If you have a Wi-Fi network for your workplace, make sure it’s secure, encrypted, and hidden. To hide your Wi-Fi network, configure your access point or wireless router so that it does not broadcast the network name, known as the Service Set Identifier (SSID). Password protect access to the router.
  • Understand your responsibilities and obligations. The account agreement with your bank will detail the commercially reasonable security measures required in your business. It is essential that you understand and implement the security measures of the agreement. If you don’t, you could be liable for losses resulting from a takeover. Talk to your banker if you have questions about your responsibilities.

The Federal Communications Commission (FCC) offers this Small Biz Cyberplanner, an online resource to help small businesses create personalized cybersecurity plans.

For more information:
contact the Farmers Bank

About the Farmers Bank
Based in Windsor, Virginia, Farmers Bank is a community bank founded in 1919. We have eight convenient locations in the Tidewater area. For more information, please visit www.farmersbankva.com.



Farmers Bankshares Inc. published this content on April 21, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Apr 21, 2022 8:27:07 PM UTC.

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