October is Cybersecurity Awareness Month, an excellent time to strengthen our understanding and practices surrounding cybersecurity. At DiligenceVault, we believe in proactive measures to protect your access and information. Here are 10 essential tips to enhance your cybersecurity:
1. Never Share Passwords: Always keep your DiligenceVault account password private. Instead of sharing account credentials, add colleagues as users on the platform. This approach not only secures your account but also provides a robust audit trail, ensuring transparency and facilitating on-platform collaboration.
2. Maintain Privileged Access: Be mindful of user permissions. Not all users need administrative access. Utilize the various access levels within DiligenceVault—such as security admin, business admin, contributor, etc. —to manage privileges effectively.
3. Implement Domain Whitelisting: Ensure that only users from approved domains can access your DiligenceVault account. If you have colleagues in other regions with unique email subdomains, consider whitelisting sub-domains such as us, ln, hk, sg, and au. For external partners like fund admins or placement agents who may occasionally need access for investor reporting or DDQs, whitelist their domains in advance.
4. Configure Single Sign-On (SSO): Take advantage of our SSO functionality, available to all clients at no additional cost. This feature simplifies the login process while enhancing security.
5. Establish Strong Password Policies and MFA: If SSO isn’t an option for you, set robust password reset criteria that align with your firm’s security best practices. Remember to choose complex passwords and enable Multi-Factor Authentication (MFA) for added protection.
6. Utilize IP Address Whitelisting: Limit access to the DiligenceVault platform by whitelisting IP addresses. This measure helps mitigate data loss risks by ensuring team members can only access the platform from recognized networks.
7. Adjust Download Center Settings: To safeguard sensitive data, enable settings that restrict the export of information via email. This helps minimize the risk of data leaks.
8. Avoid Sensitive Information via Email: Never send sensitive information to notifications@diligencevault.com. This includes responses to follow-up questions or completed questionnaires. Instead, upload documents directly to the platform and respond to inquiries there.
9. Verify Sender Details: Before clicking on links or opening attachments in emails, always verify the sender’s information.
10. Report Suspicious Activity: If you notice any unusual activity in your DiligenceVault account, contact us immediately at security@diligencevault.com. Your vigilance is crucial in maintaining security.
If you’re looking to enhance your application security defaults on DiligenceVault, please reach out via the platform or visit our contact page here.
A Reminder on Why Cybersecurity Matters: Five Key Reasons
1. Protecting Sensitive Data: Strong cybersecurity measures are essential for safeguarding personally identifiable information (PII), financial records, and other sensitive data from theft and unauthorized access.
2. Preventing Cyber Attacks: As technology evolves, so do the methods used by cybercriminals. Effective cybersecurity strategies can help thwart attacks such as phishing, ransomware, and malware, which can disrupt operations and lead to significant financial losses.
3. Ensuring Business Continuity: Cyber-attacks can severely disrupt business operations. A solid cybersecurity framework helps organizations maintain continuity by minimizing downtime and protecting critical systems.
4. Ensuring Regulatory Compliance: Many industries are subject to strict data protection regulations. Adopting good cybersecurity practices aids in compliance with laws like GDPR and HIPAA, helping organizations avoid fines and legal complications.
5. Building Trust: Organizations that demonstrate a commitment to cybersecurity foster trust with customers and stakeholders, enhancing their reputation and fostering customer loyalty.
By implementing these tips and understanding the importance of cybersecurity, we can all contribute to a safer digital environment. Let’s work together to keep our data secure this Cybersecurity Awareness Month!
