PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

It Takes Two To Make a Thing Go Right: Why Encryption Alone Isn’t Enough to Protect Your Data

Tia Lee by Tia Lee
December 4, 2017
in Industry Opinions
0
Cyber security concept, Man using smartphone and protect network

Cyber security concept, Man using smartphone and protect network on mobile screen.

1
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
So you’ve locked up your data. But who has the key?

There is no denying that mobile devices have drastically changed the way in which business is done. Employees are no longer confined to their desks and by their office walls; mobile devices have enabled them to conduct business anywhere, any time. As more technologies add mobile interfaces this trend will only intensify. It’s critical that organizations provide employees with the tools they need to communicate with one another. However, it’s also critical that they do so in a way that does not sacrifice the security of your sensitive business and customer data.

The Encryption Fiction

Mobile chat apps such as WhatsApp are commonly used by employees to communicate with one another. In most cases, the choice to use applications, such as WhatsApp, does not occur at the corporate level. Instead, due to prior personal use, employees often shift their work communications into these apps as a matter of convenience. As these apps are often encrypted, users believe that their communications are secure and private.

However, encryption does not equal privatization. Encryption refers only to the process of encoding a message in such a way that only authorized individuals can access and read it. While often equated with privatization, it is not the same. Even if a mobile chat app is encrypted, the data sent via these apps can still reside elsewhere. Yes, you’ve technically “locked up” your data, but you’ve given the key to someone else.

Enter Facebook (Surprise, Surprise!)

In the case of WhatsApp, this someone else is their parent company. And guess who happens to be their parent company? That’s right, it’s Facebook. This means that mobile data sent via WhatsApp is owned by Facebook and stored on their servers. This is problematic for two reasons. First, it gives Facebook the right to do whatever they want with this data, regardless of how sensitive it may be. Second, it opens organizations up to security issues as their data is held by a company that is a common target for hackers.

No one likes a data breach. Especially your customers.

 As explained above, with a lack of privatization comes an increase in the risk of data breaches. These breaches can cause significant financial, regulatory and reputational damage. This is especially true in the financial sector, where there is a wealth of sensitive personal and financial information. A data breach can lead not only to non-compliance penalties, but also a decrease in brand integrity and trust, and consequently the loss of both potential and current customers.

Keep Your Kathy(s) Chatty (and their data secure)

While the risks mentioned above may make you question the use of mobile communication, beware of turning off an efficient communication channel that can increase employee productivity. Instead, provide your employees a mobile chat app that is both encrypted and privatized as well as secure. This will provide your employees with the flexibility to stay connected in real-time, from any location, while ensuring that sensitive business and customer data is protected and does not end up in unintended hands. It’s the best of both worlds!

Learn more about MobiConnect, a secure, privatized and encrypted chat app for your workplace here – https://www.mobilearth.com/mobiconnect-secure-chat

Tags: CybersecurityData
1
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023
    cross-border payments

    How to Implement Effective and Innovative Cross-Border Payment Strategies

    January 24, 2023
    credit card experiences, digital payments, b2b payments

    Will Consumer-to-Business Payment Trends Drive B2B Global Growth in 2023?

    January 23, 2023
    Faster Payments Faster Identity Verification, connected car, payments

    2023 Predictions: Authentication, Digital Identity, and In-Car Payments

    January 20, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the U.S. Bank report - Real-time payments