There is much information given and taken from both customers and businesses. However, it is no guarantee that personal information will be safe in the hands of traditional IT safety precautions. Such corporate sensitive data should be protected by firewalls and limited access and be encrypted for protection from hacks and leaks while being kept under close monitoring.
According to Cybersecurity Ventures, cybercrime will cost the world $6tn by 2021, and a business will fall victim to ransomware every 11 seconds. To add on, Norton Security says that 33 billion records will be stolen by 2023. You may think that this is irrelevant to you or your company, but it will be too late once you find out, as it takes an average of 287 days to identify and contain a data breach, according to IBM.
“Spiceware’s technology has been continuously recognized by many credible organizations,” said Keunjin Kim, founder and CEO of Spiceware. “We will continue to strive to become an innovative global tech company leading the cybersecurity field through continuous research and development.”
Back in 2019, France’s data protection regulator, CNIL, fined Google $50m for not complying with GDPR obligations. As regulations can impose fines of up to 4% of a company’s annual turnover, it can be worth millions or even billions for large corporations.
To prevent costly data breaches, companies need to know how to protect the data they collect while following the rules of the privacy regulators. Businesses can do it by isolating sensitive data in servers and restricting access. Yet, for many cases, data or information breaches are not only coming from external forces like hackers but are also caused by internal mismanagement and human errors. This calls for an enterprise solution that helps personal data be secured automatically and systemically in an enterprise environment.
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