Stay ahead of the cybersecurity learning curve and keep your business safer.
In today’s connected world, keeping your business safe from cybersecurity threats means taking a series of proactive steps as well as building regular safeguards and trust. Regardless of size, growing companies are often prime targets for fraudsters and cybercriminals. A breach, hack, or instance of identity theft can be costly — both financially and to your company’s reputation.
According to the ProSight Financial Association, in 2025 cybersecurity was business’s fourth-biggest concern — behind only growth, efficiency, and cash flow. Businesses with sales ranging from $5 million to $20 million ranked cyber threats even higher, second only to growth. Approximately 60 percent of all businesses worry about fraud in their bank accounts.
Help alleviate these concerns with these eight simple steps to protect your business.
1. Get to know common scams.
Banking scams. Internal Revenue Service scams. Phishing attempts. Fraudsters and cybercriminals are getting increasingly creative and sophisticated in how they try to gain access to your company’s money, systems, and data. Wells Fargo Business tracks common scams and cyber threats, and can be a useful resource to help you and your team learn the hallmarks and tips to help recognize and prevent them.
2. Secure software and technology.
Issues like out-of-date software and unsecured wireless networks can leave your business vulnerable to threats but are relatively easy to fix. Automate software updates, especially for virus and malware protection software, internet browsers, and mobile devices. This helps ensure that the latest security updates and patches are installed regularly. Secure your wireless router and devices by following factory instructions to change the default username and password and turn off remote management, if applicable. Avoid conducting financial transactions on public wireless networks, too.
3. Use banking security tools.
Learn how your bank can be a powerful cybersecurity ally. For example, Wells Fargo Business has a range of tools and information to help keep your business safe. Use account-protection tools like biometric or passkey access, voice verification, two-factor authentication, and security alerts to stay aware of suspicious activity and help thwart cyber criminals who try to access your business accounts.
4. Practice good digital security hygiene.
Another safeguard that also benefits your employees is adopting good “digital security hygiene” habits. These are the practices you use to stay safe online like using strong passwords, keeping them private, and updating them regularly. Other good hygiene practices include avoiding clicking on email links. Instead, go straight to the website and log in. Also, don’t answer or respond to email messages or texts from unknown email addresses or phone numbers or download documents or files that aren’t from trusted sources.
5. Watch out for red flags.
Sometimes, scammers give you clues that a situation is not what it appears to be. When you know what to look for, you can spot some red flags that can signal a cybersecurity threat. Be suspicious of unexpected outreach, such as that from a stranger or regulatory authority. Requests — digital or person-to-person via phone, text, social media, or email — that include great urgency or even threats, or that have unusual requests such as immediate payment via gift cards, should put you on guard that you may be experiencing a scam attempt.
6. Create a breach response plan.
Data breaches often happen through malware or social engineering, where a scammer uses a phone call or correspondence to gain information. Training your staff in good practices can help them avoid inadvertently helping fraud perpetrators, but you should also have a data breach response plan in case you find yourself dealing with unauthorized access to your firm’s data. The Federal Trade Commission’s guide can help you compile one.
7. Monitor your accounts.
Check bank statements regularly or make a habit of checking your accounts through your mobile apps or online to ensure all transactions are authorized. Activate security alerts to help you be aware of transactions as they happen. In addition, regularly check your personal and business credit reports for changes, unauthorized accounts, and mistakes to ensure they don’t affect your credit rating. Credit Close-Up®¹ includes credit monitoring alerts that help you monitor activity and spot anything that isn’t correct.
8. Report fraud when it happens.
If you find that you’ve been the victim of fraud or cybercrime, alert your bank, insurance company, and any other parties involved immediately. This will help them act swiftly on your behalf. You may also need to report the incident to the appropriate law enforcement agency. Visit Wells Fargo’s Business Security Center for more information.
Good cybersecurity practices don’t have to be overwhelming, especially when you incorporate regular prevention habits and tools into your operations. Wells Fargo Business is a trusted guide for business owners, providing the support and solutions you need to help keep your business safe from cybersecurity threats. For more information about Wells Fargo Business’s solutions and tools, visit Wells Fargo’s Security Center or contact a Wells Fargo Business Banker.
