Nearly half of all cyber attacks target small businesses. That’s an astounding number. What’s more surprising is that only 14% of small businesses are ready to defend themselves. The stakes are high for small businesses. And it only gets worse at how fast technology is transforming.

Hackers are constantly exploiting gaps in financial data management. This might be the most sensitive information being put at risk. Cybersecurity compliance goes beyond following the rules. It’s a necessity.

Cyber security compliance might be your only shield to protect data integrity. Business and accounting needs the trust of their customers to succeed and without data integrity that trust will start to disintegrate.

Small Businesses Are Under Attack

The nature of small businesses means they’re a target because of weaknesses in data management. There are mounting risks from cyber threats. This only highlights the importance of secret scanning. One breach in accounting can lead to irreparable financial and reputational damage.

According to a study published in 2023, 43% of cyber attacks are aimed at small businesses. The same study also claimed that 90% of cyber attacks can be linked to human error. This is a huge vulnerability. Accounting systems have an urgent need for compliance measures.

Secret Scanning

There’s a great tool that’s an automated process that detects sensitive data. We are talking passwords or API keys that appear in a systems code base. This is secret scanning and can very quickly prevent breaches. It fights that human error aspect. It prevents accidental exposure of credentials. These are things that hackers exploit to get into your systems.

Think of secret scanning as your routine health check but for your software. Your regular medical checkups help you prevent serious illness. Secret scanning prevents small problems from becoming major breaches.

The Drive for Cybersecurity Compliance

Adopting secret scanning measures isn’t the only way to strengthen the protection of your company. Cybersecurity isn’t only about addressing active threats. Compliance also includes your business adhering to the regulatory pressures both federal and state. 2024 saw large strides when it comes to cybersecurity regulation.

Over 45 states introduced almost 700 bills related to cybersecurity and artificial intelligence. Seven states passed comprehensive data privacy laws. These compliance measures we’ll have direct implications for how your business manages its financial data.

Cybersecurity regulations are on the rise and can make or break your business if you don’t comply with regulations. Small businesses now have to stay ahead of compliance mandates as a mode of survival.

Threats are escalating and demand proactive action. Many businesses are integrating AI and machine learning into their accounting systems. This presents new opportunities but also new challenges. AI and machine learning can enhance your efficiency but also expand the attack surface for your company.

Effective Cybersecurity Compliance

Your business needs the right tools. Secret scanning could be one of them. Small businesses need to consider other measures too like encryption protocols, multi factor authentication, inactivity monitoring.

There are quite a few third party platforms that offer you solutions that will simplify meeting regulations and compliance. These tools can offer you two things: protect sensitive data and streamline any regulatory reporting requirements you may have.

Non-compliance has a significant financial impact. Non-compliance has cost organizations an average of $5.05 million per data breach. These organizations lacked the structured cyber security measures. Focusing on cyber security compliance reduces your financial and operational risk.

Small Businesses Can Stay Ahead

The phrase adapt and conquer really applies to this situation. Small businesses who prioritize education and proactive measures will thrive. Failure to act is like leaving your accounting records in an unlocked filing cabinet.

Compliance may require an upfront investment but the long term savings from avoiding breaches far outweigh the costs. Collaborating with cybersecurity experts will only enhance your defenses and protect your accounting platforms, your reputation, and your money.