Over 75 New York business leaders convened at Vaultize’s Cocktails and Conversation event on October 26 to discuss encroaching threats to the security of their companies’ most sensitive data and what can be done about them.
In attendance were directors and executives from Citigroup Private Bank, Stonebridge Capital Markets, Capital One Bank, Société Générale, Goldman Sachs and Berdon LLP. A variety of security issues facing today’s business leaders were brought up in conversations and during a short presentation by Jim Mongillo, Vaultize CEO, including how to deal with threats from internal sources, proper methods for encrypting documents and how to implement an effective DRM strategy.
“It isn't a matter of if you will be breached,” Mongillo said. “It’s only a matter of when it will happen and what the ultimate damage will be — from fines to litigation to lost market share.”
The cost and number of serious data leaks and breaches is rising across all industries. The average cost of a modest leak in 2015 was over $15 million, and global damages are expected to be in the billions in 2016. Threats to sensitive enterprise data, documents and files are growing more advanced every day, and security conscious organizations are struggling to stay ahead of the curve.
Contrary to common belief, it’s not “hackers” that pose the biggest threat to an enterprise’s data security.
“It’s important for business leaders to realize that their weak spots are most likely not in their network security,” Mongillo said. “Most industries have firewalls and server protection figured out. But most leaks and thefts today are from internal mistakes or malfeasance, meaning an employee either intentionally or mistakenly shares data with the wrong person and that person is on a device outside of the company’s control. At that point, there’s not much IT can do to correct the mistake if they don’t have good DRM and file tracking in place.”
Event attendees were invited to a DRM training seminar and luncheon with Vaultize co-founder and CTO Ankur Panchbudhe scheduled for November 10. During the two-hour event, Ankur will field questions about data security and DRM and demonstrate how the Vaultize platform can keep data safe and under control.
Another Cocktails and Conversation catering to legal departments and law firms will be held in January and co-sponsored by Get the Net, a New York City industry compliance and business services consulting group and Berdon LLP, one of New York’s leading accounting agencies.
To learn more about Vaultize’s comprehensive DRM, file tracking and data security platform, please contact one of our solutions architects. If you would like to RSVP for the DRM training seminar and luncheon with Vaultize co-founder and CTO Ankur Panchbudhe, please provide your information here. To RSVP for the January Cocktails and Conversation event, please contact us.