Encryption Is Not Enough To Secure Corporate Data
Data security is becoming a growing source of concern for many businesses as companies worry about the possible disruption and legal liabilities if and when a data security breach were to occur. As a result, many companies have adopted encryption to help protect their data.
Theoretically, an encrypted document can only be decrypted by the recipient with the proper key. However, depending on the type of encryption used, a sophisticated computer program may be able to crack the encryption algorithm much like a safe cracker trying to break into a safe.
Surprisingly, using encryption software doesn’t necessarily help in reducing the occurrence of data fraud, especially when there is negligent loss or in instances of internal fraud by company employees. That’s because current password and encryption technology that is in place at most companies requires employees to meticulously follow security protocols in order to safeguard company data. And, if an employee fails to do so a hacker can gain the keys to the kingdom that will allow them to install malware, steal sensitive information and erase files, to name a few.
Encryption alone will not stop those with the intention of destroying or disrupting proprietary company information. This is why firms need to incorporate a wide range of layered security measures, including biometrics to secure custom software applications and other proprietary data rather than relying solely on passwords. Password protection is no longer effective in denying access to even an amateur hacker. Awareness and training programmes, network monitoring and strong access management controls are additional security practices that companies can adopt across the enterprise.
Since the adoption of encryption is associated with increased data loss and fraud, businesses need more robust data management systems to minimise the occurrence of security breaches. This is why enterprises will find it beneficial to develop custom software applications that suit their unique security needs. Data security needs vary across business sizes and industries so there is no universal solution to enterprise data security.