In the worlds of cybersecurity, there’s a lot of attention paid to safeguarding sensitive data from loss or exposure. However most organizations fail acknowledge that the information they manage is also at risk during the process of transfer. This is typically the case when information is shared with partners and customers or business associates.
The protection of confidential data exchanges is crucial to ensure that breaches are not made and keep trust with stakeholders, customers and business partners. Security breaches that expose confidential information can inflict irreparable damage on the reputation of a brand and trust. This is especially relevant in the field of healthcare where HIPAA requires that facilities be able to transfer patient records electronically.
The other industries aren’t any different. Retailers and e-commerce platforms must secure their customers’ private data when they purchase products online, while educational institutions must keep their student records secret to prevent identity theft. Financial institutions must ensure that sensitive files are secure when they transfer files to business partners.
While safeguarding specific locations on systems, servers or in the cloud is an important aspect of managing confidential information, this method is not always flexible for businesses who frequently collaborate with third parties and must share confidential documents. Alternatively, businesses can rely on encrypted software solutions like those from Anjuna, CanaryBit, CYSEC, Decentriq and others that use encryption and zero-knowledge proofs to allow for confidentiality-preserving sharing.