Accounting

safeguard your accounting firm from risk and disruption

Key Cybersecurity Threats

Ransomware Attacks: Accounting firms are prime targets for ransomware due to the sensitive financial data they handle. In 2025, the average ransom demand for an accounting firm exceeded $300,000, with some incidents leading to weeks of operational downtime and significant client disruption. (Financial Cents)
Phishing and Email Scams: Phishing remains the leading attack vector, with 60% of breaches involving human error, such as employees clicking on malicious links or responding to spoofed messages. (Financial Cents)
Insider Threats: In 2024, 83% of organizations recorded at least one insider incident, with the share experiencing 11–20 insider incidents increasing from 4% in 2023 to 21% in 2024. (Financial Cents)

The Financial Impact

Data Breach Costs: The average cost of a data breach in 2024 was $4.88 million, marking a 10% increase from the previous year. (Varonis)
Ransomware Costs: The average total cost of a ransomware breach was $5.13 million in 2024, reflecting a 13% increase from 2022. (Varonis)
Regulatory Penalties: Bayview Asset Management faced a $20 million settlement over a data breach affecting 5.8 million customers and subsequent failure to cooperate with regulators.

Preparedness Recommendations

Employee Training: Regular cybersecurity training to recognize phishing attempts and secure handling of sensitive data.
Proactive Security Measures: Implementing 24/7 security monitoring and robust encryption practices. (ICAEW)
Compliance with Regulations: Adhering to cybersecurity regulations, such as the SEC’s Enhanced Cybersecurity Rule, to protect client data and avoid penalties. (PKTech)

THE PROBLEM

Accounting firms handle highly sensitive financial data, making them prime targets for cybercriminals. Ransomware attacks, phishing, and insider threats are costing firms millions every year. Additionally, failure to adopt new technologies for streamlining workflows can result in inefficiency, increased costs, and missed opportunities.

At Flux Technologies, we understand the unique challenges faced by accounting professionals. Our comprehensive cybersecurity, remote monitoring, and cloud-based solutions ensure your operations stay protected, efficient, and compliant

OUR VALUE PROPOSITION

Comprehensive Cybersecurity: Flux offers security monitoring, real-time threat detection, and AI-powered solutions to keep your business protected from evolving cyber threats.
Enhanced Operational Efficiency: Streamline your workflows with our AI-driven tools, automating routine tasks and helping you focus on what matters most—serving your clients.
Compliance Assurance: Stay compliant with SOC2 and other regulations through our compliance support and data protection services