Here’s What Can Happen If You Don’t Keep Data Protected In Your Accounting Office

Here’s What Can Happen If You Don’t Keep Data Protected In Your Accounting Office

Ever wonder what would happen if documents were sent to Your client – whether they are tax returns, tax settlements, financial statements fell into the wrong hands?

What would happen if sales invoices and customer details fell into hands of your competition?

What would happen if the content of the Client’s trade agreements was disclosed?
How a cybercriminal could use the obtained data to discredit your clients’ trust?

How do you send your documents? Probably by e-mail. Just. And your customers often se mailboxes on free portals or improperly configured e-mail.

Leakage of confidential documents means loss of your clients’ trust, losing the good name of your accounting office that you have built over the years.

Would you have to close the business and move to another city?

Worst of all, you may not even know that someone had access to these documents. Demanding a ransom after data theft could really hurt your business.

These are the facts

Chicago-based accounting firm Bansley and Kiener (B&K) allegedly failed to notify impacted individuals of a healthcare data breach until more than six months after the incident, a lawsuit filed on December 17, 2021 in the First Judicial Circuit Court of Cook County, Illinois stated Oregon businesses reported 20% more data breaches in the first nine months of 2021 than in all of 2020, according to the state Department of Justice.

From 2014 to 2020, data breaches of CPA firm have increased over 80 percent (Byron Shinn, 2020). Once a data breach has occurred litigation usually costs around $70,000 to $300,000 (Byron Shinn, 2020). Then depending on the size governmental requirements can cost another $100,000 to $300,000 (Byron Shinn, 2020). These legal fees and monitoring requirement tend to place a significantly heavier burden on smaller firms.

Smaller firms tend to be more vulnerable due to the lack of capital they can retain as well as expend on protecting these attacks. That is, due to the lack of capital they are unable to devote the resources a large firm can maintaining a complex and secure IT infrastructure.

Cyber threats affect everyone

You don’t have important data? You most certainly do! The data you have is worth as much as business and billable hours of your clients.

Hackers are only attack big companies? Those are the stories you can read about in the media. But not many people are interested in data leaks and other cybersecurity incidents that happen in smaller law firms every single day. They are not spectacular, and if they are, everyone tries not to inform the media.

By using Cypherdog you can be sure that the data that is being transferred between your company and the client is 100% safe. Asymmetric encryption means that only your client has access to secured data that is sent from you.

Because encryption is not just about what the methods you use are, but who has access to the keys. It is not hard to have armoured doors with professional locks, and keep the keys under the wiper or leave them.

If you decide to try our offer, we will indicate exactly what processes in your law firm need protection. We will indicate the consequences of a data leak. We will show you how to use our solution.

Make an appointment online. It will take you no more than 30 minutes …