Encrypted data 'not profitable for cyber criminals'
Encryption is the first step companies should take to keep their data secure and businesses should implement subsequent protection mechanisms, according to Dutch digital security firm Gemalto.
"The first area concerns encryption. Encrypted data is not profitable for cyber criminals," Sergio Muniz, director of sales for Gemalto Latin America's security division, told BNamericas.
Muniz cited information from Gemalto's Breach Level Index showing that less than 5% of companies that suffered a security breach had encrypted data.
He said not all data needs to be encrypted, and companies need to classify information according to how sensitive it is. Encryption can be implemented in databases, storage infrastructure or big data.
The second area is key management. "When you encrypt data, you also generate keys for the encryption and you must define who will be able to access the information," said Muniz, adding that policies can grant various levels of access to different users.
For the efficient administration of access policies and keys, Muniz recommended using a single application, a robust server and storing the keys and encrypted data in different servers.
Gemalto's key management business relies heavily on SafeNet, which the company acquired in 2015. According to Muniz, SafeNet is well known in government and banking circles due to the robust key management provided by its human capital management solutions.
The third and final area entails authentication. "There's a difference between the authentication tools needed by banks and companies in other industries. Banks need complex mechanisms and tools to understand clients' behavioral patterns," said Muniz.
According to Muniz, companies that seek to protect big data should consider different levels of authentication. "The single user password model is limited and easy to breach, particularly now that a great deal of data is stored in the cloud. We recommend implementing a second security token to make it difficult to access the data." Electronic signatures can be a complementary authentication mechanism, said Muniz.
GROWING PARTICIPATION
The number of security breaches in Gemalto's Breach Level Index has grown considerably in the last three years, said Muniz. However, this is because more industries are reporting their security information.
"Three years ago you'd see government entities, e-commerce companies, and banking and retail firms in our security report. These sectors have implemented modern solutions, but cyber criminals also evolve," said Muniz.
The latest reports also have information on companies in the health industry, education institutions, and credit bureaus, among others. "These industries are displaying a growing interest in their security and that's why we see higher numbers in our reports," said Muniz.
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