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With more and more companies refusing to report any breaches, computer crimes just keep rising and rising. People are becoming more and more comfortable to share their information via the Internet with it being the biggest form of information exchange. Do you see a problem? Well, we do! With people relying on emails as their primary source of personal information exchange, there should be higher security measures put in place. We do agree that email is a GREAT business tool for you to use, and if you work in a Financial Service Industry, it’s more or less the backbone of your company.
There has been discussion of email encryptions becoming a legal requirement, which is a good thing. As someone working in the Financial Service Industry, you want to make sure all of your consumer’s sensitive information is kept secure and private. With this sensitive information circulating every day to customers, third-party vendors, and strategic partners, you don’t want to be exposing bank account details and social security numbers to the wrong person. If this were to happen, you are required by law to report breaches of data security to those affected. This could also possibly lead to lawsuits.
With email being an essential business tool, there has been demand for key management and embedded encryption services, by hiring a third-party vendor, you can ensure your data will be protected and save yourself from lawsuits and data breaches. You should consider looking through your privacy compliance programs to take the proper steps in making your consumer’s information more secure.
In 1999, there was a law set in place for the Gramm-Lech-Bliley Act (GLBA) to protect your consumer’s private financial information contained by their financial institutions. They have a Safeguards Rule that forces all financial institutions to implement, design, and maintain steps to secure all private data. It also requires standards to develop and implement administrative, physical and technical processes so that customer information is safe, private, and integrated.
By applying email encryption in your regular email daily routines, you are reducing risk for losing customer loyalty, strategic partners, and, money. Take the extra step to protect your company’s value and assets by raising your IT budgets and protecting data.
To learn more about how to start encrypting your emails, give us a call at (416) 840-6560 or send us an email at email@example.com. Cat-Tec will assist you with the process of protecting your information that matters most by complying with the Law.