Beware of Security Attacks that Could Steal Employee Benefit Plans
At this day and age, any virtual platform that saves or shares personal information is susceptible to cyberattack. That is why it is highly imperative for businesses to protect employee benefit plans, fringe benefits included, from data breach.
It certainly is not pessimistic doomsday to talk about cyberattacks as no longer a question of if but when. It is a reality that both employers and employees have to face especially when employee benefit plans containing valuable personal information are on the line.
To protect fringe benefits of employees as well as other employment benefits from being illegally accessed, all stakeholders concerned should take action. Employers and employees with the support of banks, regulators, and the government must be constantly vigilant and remain proactive in order to gain ground in this emerging cyber warfare.
Shield Your Fringe Benefits and Other Employee Benefit Plans from Cyber-attackers
What can businesses and their employees do given that cyberattack is an ever present threat? There are some ways to protect fringe benefits and other employee benefits from being a target.
- Understand the system.
Both employers and employees must have a working understanding of how the system works. People should be trained to detect common cyber threats including spoofing scams, systems hacking, malware, and phishing to name a few.
Businesses must also identify the vulnerable spots of their system where hackers can take entry advantage through periodic systems check. Knowledge is the first step in ensuring employee data are not susceptible to any form of attack.
- Put security protocol in place and make sure everyone abides by it.
This protocol must be deeply ingrained in corporate culture because employees form the first line of defense against both internal and external vulnerabilities. Security protocol should also encompass an incident response plan which should be practiced much like a fire drill.
- Invest in better systems and people.
Software and structures that support it must be updated. Get people who have extensive track record in systems security to oversee both the company’s IT structure and security protocol. While this would entail a certain cost initially, it is still more cost effective if one compares it to dealing with the aftermath of a major data breach.
Protecting employee fringe benefits from cyberattack, while relatively difficult, is attainable provided that businesses take the necessary steps to bolster their cybersecurity.
Trust ARCHER JORDAN to Handle Your Fringe Benefit Plans
Over the last three decades, ARCHER JORDAN has familiarized itself with many of the issues faced by US corporations be it externally or internally. Cyberattacks being one of them, we have sought and continues to seek solutions to address this issue to protect not only our clients but also their employees who we believe are essential to our clients’ success.
Our team at ARCHER JORDAN is composed of insurance brokers, HR specialists, technology geeks, and business experts, and we are here to help! Contact us today to know more about fringe benefit plans, employee benefits, and compliance with federal and state labor laws.