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- Gilisoft can help you protect your data with encryption tools which include USB stick encryption, file locking, a secure disc creator, full disk encryption and more.

How to protect your data?

How Much Could a Data Breach Cost Your Business?

Today, so much of the world’s important data is stored digitally – from banking details to customer records – and it is imperative this information is kept as secure as possible.

According to research by the Ponemon Institute, the average cost of a single data security breach to an organisation in in the U.S.A. cost $5.5 million last year. While this is down from $7.2 million in 2010, it still represents a great deal of money for a business or organisation. The average cost per record now stands at $194.

Bearing in mind the potential cost of a breach, it is undoubtedly important that you do your utmost as a business or individual to ensure details are kept secure. Your data is incredibly valuable to thieves.

Data Losses in the Public Eye

In recent years there have been a number of high profile data loss cases that have hit the headlines.. In July 2012 it was reported that credit and debit card account information was stolen from around 1.5 million customers of Global Payments.

In March 2012, the US Department for Health and Human Services fined the Blue Cross Blue Shield of Tennessee – a health insurance provider – $1,500,000. Unencrypted computer hard drives were stolen from a facility in Tennessee, which contained data, including protected health information, for more than a million people.

In several recent cases, embarrassment, jobs, and a great deal of money could have been saved by simple encryption of data.

The Cost of Lost Data

Data losses are very expensive for businesses and organisations, in terms of both compensation and reputation. Several large organisations have suffered greatly at the hands of the press for their many breaches in data security.

Forty-five states now have laws which require organisations to tell individuals who are affected during a data breach. Obviously, this is not the most positive news to have to bestow on your customers, members or employees, so it can have a detrimental effect on the perception of your business and your brand.

On top of this, in June this year, five senators proposed the Data Security and Breach Notification Act of 2012, where organisations involved in data losses must inform individuals affected, as well as the Secret Service or the FBI. Failure to disclose a data breach could see companies paying fines as high as $500,000 dollars. This is one of a number of proposals put forward over the last 10 years.

How to Protect your Data

There are many ways in which you can effectively protect your data and computer systems to ensure your business’ site security and reputation is kept intact. These include firewalls, passwords and data encryption. Ideally, you would use a combination of all three.

Data encryption is ideal for protecting data in transit and in storage, including everything from information transferred by networks to mobile phones and wireless and Bluetooth devices. Encrypting a file before sending it ensures that if it is intercepted it can’t be read.

With physical devices such as USB sticks, CDs and laptops, there is always the potential for items to become lost or stolen. Encrypting a device provides peace of mind that your information is secure should the worst happen.

By encrypting a laptop or netbook, you can also rest assured that any information is unreadable once the device comes to the end of its lifespan. This means you can safely recycle or sell your old computer without fear that any private information can be accessed.

Gilisoft can help you protect your data with encryption tools which include USB stick encryption, file locking, a secure disc creator, full disk encryption and more. The software helps you make items impossible to open through password protection, and encrypt files and folders using AES encryption algorithm (creating both .exe and .gfl files).

Securing your data is imperative whether you’re operating a large business, a small to medium enterprise or even in terms of your personal details. USB sticks and wireless devices are ideal in terms of transferring and carrying data but if that information is compromised it can cause a range of issues – from fraud to fines. Remember; if you’re dealing with sensitive information, it’s your responsibility to keep it safe – not doing so can be incredibly expensive.

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