Honing in on data protection
Security Boulevard has cited the inequality in data protection efficiency among different organizations can be a yardstick by which they can differentiate themselves from the competition: another view to incentivize good data security.
How does this reflect in practice? The benefits are many. Increasing trust and loyalty among customers; mitigating the risk of a data breach, both financially and to an organization’s reputation; preventing business disruption caused by a security incident; assisting in meeting and lessening the cost of compliance requirements. As the article points out, “Strong encryption helps to place data out of scope when it comes to PCI DSS.” And this is just one standard. The regulatory landscape has evolved drastically over the last several years, with GDPR and CCPA setting the pace for myriad copycats across states and countries. Adhering to every relevant law creates even more challenges for organizations handling personal data.
These are just some of the ways in which businesses can leverage data security to get a leg up on their competitors. In the latter of these, NetLib Security can be a useful ally by providing strong encryption via our Encryptionizer solution, preventing your valuable data from exploitation from nefarious cyber criminals. Meeting ever-changing compliance requirements is also facilitated.
Security Boulevard takes the words right out of our mouths (fingertips?) when they write that focusing mainly on perimeter defenses, or early detection capabilities, leaves the breach window wide open. Hackers often have methods of bypassing such defenses without a surfeit of effort required. The results are a massive headache. You can read about any number of recent incidents, such as sports betting firm DraftKings announcing a breach of almost 70 million accounts that compromised its users’ bank accounts. Or you can see how Spanish bank Abanca was fined $3.3 million by the European Central Bank for knowingly failing to report a data breach within the two-hour allotted period. Or read about the 254,000 Medicare beneficiaries who may have had their personally identifiable information (PII) and protected health information (PHI) exposed in a breach.
Focus on protecting the data itself, and you won’t find yourselves in hot water.