Zoom has seen a recent surge in popularity, in part because of efforts to flatten the coronavirus curve. Despite this, some financial institutions have banned its use due to security concerns. Is your institution using this application? Safeguard your data with the following tips designed to help you address any existing Zoom security risk.
1. Always Use Security Settings
Although this tip sounds simple, many users don’t bother to take advantage of the security settings offered by Zoom. To protect your financial institution, make sure you’re using the latest Zoom security settings. At the very least, require participants to use a password to enter your meetings.
In early March, Zoom didn’t offer password protection for meetings. As the app gained popularity, “Zoombombers” started entering meetings. They did so by typing random strings of numbers into the app until they found a meeting. The company responded quickly by upgrading its security efforts.
If your meeting is password-protected, unwanted visitors have a much harder time gaining access. Once in on a meeting, Zoombombers tended to act like pranksters rather than thieves. Even so, you still need to be concerned about the risks to stay on the safe side.
2. Safeguard Zoom Account Credentials
Thieves can buy Zoom account credentials on the dark web for as little as one penny. How can you prevent your sign-in details from being compromised? Talk with your employees about the importance of not sharing or writing down their log-in details. Additionally, don’t post meeting identity codes or passwords on public websites.
3. Strengthen Security on Home Computers
If your employees are joining Zoom meetings on their home computers, they could be compromising your network. Consider giving employees devices issued by your financial institution while they are working at home. If you prefer to have employees use their own devices while at home, work with them to strengthen their security.
Ideally, they should install anti-virus software on their computers, run scans and update the software on a regular basis. You may also want to add a firewall and encourage employees to strengthen the password on their routers so they can’t be easily guessed.
4. Block People Who Have Been Kicked Out of Meetings
Malicious behavior can come from within your organization or from former employees who harbor a grudge. If you terminate an employee or change an employee’s duties so that they are no longer attending your Zoom meetings, you may want to block them.
You can block phone numbers to prevent unwanted people from calling into a meeting. You can even block all numbers from a certain country or area code.
5. Close the Meeting Once Participants Have Entered
How can you keep unwanted people out of your meetings? Only allow people to enter if they sign in with the email address you used to invite them. This tends to be safer than letting people join with a link or a meeting code. Once all participants have joined the meeting, close it so no one else can enter.
6. Consider Other Teleconferencing Platforms
Although millions of users have flocked to Zoom, there are other teleconferencing apps. You may want to explore other options and look for teleconferencing platforms that use a higher level of encryption. For instance, many banks use teleconferencing and instant messaging tools from Symphony.
7. Avoid Talking About Sensitive Subjects
If you are worried about people getting into your meetings without permission, you may want to avoid talking about sensitive subjects or sharing critical data. To ensure everyone is on the same page, consider sending out memos before the meeting to outline which topics or data points are banned.
Additionally, you may want to turn off file transfer. This feature allows you to share files during the meeting, but you may want to use a different file sharing network with a higher level of encryption.
As the world changes and banking practices get updated, your financial institution will face new types of fraud and cybercrime. To protect your assets, reputation and customers, you need a fraud protection partner that is always on top of the latest threats. That’s us — to learn more, contact us at SQN Banking Systems today.