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ISSUE 5
Data breaches are another significant concern. A single breach, like the one I observed which happened at Snapchat in 2014, could expose thousands of employees’ personal information, creating long-lasting consequences for both the affected individuals and the business. “It is a time filled with data collection, reconciliation, and collaboration across departments. The volume of personal information In addition to external threats, insider risks also rise during this period. Whether intentional or accidental, insiders who have access to payroll data can cause data leaks or misuse of information, especially when stress and workload increase. Employers need to vet any payroll-related staff added at year-end accordingly. The sheer volume of communications that payroll professionals engage in at year-end adds to exposure risks. Payroll teams interact more with HR, employees, and external partners, and cybercriminals exploit this environment, knowing that in the rush processed during this period is staggering.”
to meet deadlines, mistakes are more likely to occur.
Breaches also occur due to simple human error. Whether it’s sending sensitive data to the wrong recipient, or overlooking security protocols, these errors become more common during year-end. The frenzy to implement year-end updates, done in the interest of time, may leave systems vulnerable if security checks are skipped. Given these risks, payroll professionals must adopt proactive measures to safeguard payroll data, especially during year-end. Here are some common suggestions: Multi-factor authentication (MFA). : Convenience sometimes needs to be sacrificed for security. MFA adds an extra layer of security by requiring a second verification step, such as a phone notification or security token, ensuring that even if a password is compromised, unauthorized access can be blocked. Employee awareness campaigns: Payroll teams should already collaborate with IT departments to educate all employees on recognizing phishing scams and other cyber- security threats. This reduces the chances of employees inadvertently exposing sensitive data to attackers.
“Breaches also occur due to simple human error. Whether it’s sending sensitive data to the wrong recipient, or overlooking security protocols, these errors become more common during year-end.”
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