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Workers’ Compensation In Florida

Why Payroll Is a Prime Target for Cyberattacks

 

The digital space is continuing to grow and evolve every day. With so much of life conducted online, it’s more important than ever to protect your personal information from vulnerability.

 

Payroll systems, however, have become a prime target for cyberattacks. They contain some of the most confidential employee information that a business manages—including Social Security Numbers, tax identification numbers, addresses, salaries, and direct deposit information. A single breach can expose hundreds of records—if not more—leading to financial fraud, identity theft, and compliance violations.

 

Cybercriminals may not even need to break into a company’s system to gain information. They may simply trick an employee into handing over credentials or clicking on a malicious link, making payroll fraud prevention crucial for any business. It’s essential for business owners, HR managers, and IT directors to know how to protect their employees and prevent data breaches.

 

Let’s dive into the types of threats facing payroll systems today, what businesses risk without proper security, and how PEOPayGo prioritizes cybersecurity in payroll services.

 

Types of Threats Facing Payroll Systems Today

 

There are many types of threats facing businesses that may not even require a hacker to gain access to their payroll system. Let’s take a look at some of the most common cybersecurity threats.

 

Phishing

 

Phishing scams occur when cybercriminals trick individuals into providing sensitive information. Many attackers will impersonate someone from the HR or IT department and send fake emails to employees to steal their login credentials.

 

Ransomware

 

Hackers may use malicious software to lock payroll systems until a ransom is paid. If the company chooses not to pay the ransom, the cybercriminals may leak the stolen data.

 

Insider Threats

 

Insider threats come from the organization itself rather than someone outside of it. Unhappy employees or contractors could misuse their access to payroll data.

 

Insecure Integrations

 

In some cases, attackers find poorly secured third-party apps connected to the payroll systems and take advantage of those vulnerabilities to get the information they want.

 

Weak Passwords

 

When employees create weak passwords or fail to use the multi-factor authentication, it makes it far easier for hackers to guess their credentials and break in.

 

What Businesses Risk Without Proper Security

 

A lack of security can have a major negative impact on a company. Here are some of the things that businesses risk when they don’t have proper security in place.

 

Financial Loss

 

Companies can face significant financial losses during an employee data breach. From incident response and legal fees to lost revenue and reputational damage, the impact of financial loss on a company can be drastic.

 

Employee Trust

When personal information is compromised, employees may lose confidence in their employer. When trust dwindles in the workplace, employees tend to walk away.

 

Operational Downtime

 

The financial loss and legal consequences that stem from compromised payroll systems could result in payroll delays and operational downtime.

 

How PEOPayGo Prioritizes Cybersecurity in Payroll Services

 

Professional employer organizations (PEOs) take on the administrative tasks of businesses like payroll, workers’ compensation, benefits administration, and risk management. Because they’re regularly handling sensitive employee information, cybersecurity is essential. Here’s how PEOPayGo prioritizes security in their payroll services.

 

End-to-End Encryption

 

This is a security method that ensures when messages are sent via their platform, only the sender and receiver can read them.

 

Multi-Factor Authentication

 

By requiring more than one form of identification, multi-factor authentication ensures only verified users can access payroll systems.

 

Regular Security Audits

 

Trusted PEOs want to make sure they’re in compliance with industry regulations and best practices. PEOPayGo undergoes third-party security audits in order to maintain that standard.

 

Role-Based Access Control

 

Ensuring permissions are granted based on user roles means a lower possibility of security threats from within the company.

 

Employee Training and Awareness

 

PEOPayGo implements training programs that help keep employees educated on how to spot phishing attacks and manage payroll securely.

 

Secure Your Payroll Data with PEOPayGo’s Trusted Protection

 

A payroll breach can be detrimental to your company. When you partner with a trusted PEO like PEOPayGo, you can rest assured that your systems are secure. If you’re ready to secure your payroll data with PEOPayGo, reach out to their team of experts today.

 

Contact us today to get the coverage and support you need!

Workers’ Compensation Insurance helps you provide medical care, long-term therapy, disability compensation, and lost wages to injured or ill employees should an accident occur at work. Workers’ Compensation laws vary from state to state.

How does Workers’ Comp work in The State of Florida? Well, let’s talk about it.

Who Requires Workers' Compensation In Florida?

According to The Florida Workers’ Compensation law:

  • Non-construction businesses require a minimum of four or more employees; it also includes business owners who are corporate officers or Limited Liability Company (LLC) members.
  • Construction companies require Workers’ Comp with only one or more employees. This includes business owners who are corporate officers of LLC members.
  • Agricultural employers require a minimum of six employees. This coverage's also needed for and/or 12 or more seasonal employees that work for more than 30 days.
  • If you are an Out-of-State employer with employees in Florida, you need to obtain Workers' Compensation Insurance from an insurer approved by the state.
  • Before starting a project in The State of Florida, contractors should ensure they have Workers' Compensation coverage for self-employed or independent contractors.

What Workers' Compensation Covers In Florida

In The State of Florida, The Workers’ Compensation coverage of the employer may cover r medical and wage replacement expenses if a worker suffers an injury or illness at work.  

 

Medical benefits include doctor visits, hospitalization, physical therapy, medical tests, and prescription drugs. Workers’ Compensation also covers travel expenses to and from authorized treatment centers and pharmacies in Florida. 

 

When an employee is injured at work, he/she can receive wage replacement benefits. It is temporarily unable to work due to an injury or illness, he/she can receive temporary total disability benefits. And, when a doctor gives the green light to go back to work with restrictions, he/she can receive temporary partial disability benefits. A person can receive permanent impairment benefits if an injury or illness permanently causes physical, psychological, or functional loss.

 

Permanent total benefits are provided when the injury leaves a permanent and totally disabling condition. For deaths caused by workplace accidents, funeral expenses and dependency benefits are paid.

 

Benefits for lost wages under Workers’ Compensation begin on the eighth day of the injured worker’s inability to work.

 

Businesses in Florida are encouraged to provide employees with insurance coverage by Florida officials to reduce lawsuits against business owners. 

 

As a result, your Workers’ Comp Insurance can:

  • Provide medical coverage and lost wages for injured employees.
  • Workers' Compensation Insurance also covers the employer's liability in the case of a lawsuit filed by an employee resulting from a work injury or illness.
  • Ensure that you comply with Workers' Compensation laws.

PEOPAYGO Can Help You!

As a Professional Employee Organization (PEO), P.E.O.PayGo can help you get workers comp, bundle payroll, HR, and perform all the headache functions of a small business, all while saving you time and money. Let our Instaquote do all the work, we don’t need much information and it takes 2 minutes. Our software does all the work for you. 

 

Get Ready, Set, and Covered Now!

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