Management of Confidential Data Exchange

Management of Confidential Data Exchange

In the worlds of cybersecurity, there is a lot of attention paid to safeguarding sensitive data from loss or exposure. Many organizations are unaware that the data they control is vulnerable when it comes to transfer. This is often the situation when data is shared with customers and partners, or with business associates.

The security of confidential data exchanges is essential to avoid breaches and keep trust with customers, stakeholders and business partners. The fact is that security breaches that expose confidential data can be devastating to the reputation of a brand and also to the confidence of customers. This is particularly true in the case of healthcare where HIPAA requires facilities to have a secure means to transmit patient records electronically.

The same goes for other industries. Retailers and ecommerce platforms need to ensure the security of their customers’ personal information when they buy products online, while education institutions must ensure that student records private to avoid identity theft. Financial institutions must ensure that sensitive documents are secured when they transfer files to business partners.

While securing specific locations within systems, servers, or the cloud is a crucial aspect of managing confidential information, this technique may be inflexible for companies that frequently work with view 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.