G7 to Finance Sector: Play by These New Rules

Posted by Camden Swita on October 18 2016

The Group of Seven, a bloc of some of the largest industrial powers in the world, paid special attention to financial sector data security threats during its annual meeting earlier this month.

Citing a growing concern over massively expensive and embarrassing breaches and leaks in the industry, the Group of Seven, or G7, released a set of cybersecurity guidelines it insists governments and financial institutions follow to reduce risk.

The damages done to both financial institutions’ and governments’ reputations—not to mention the financial repercussions—by more recent incidents underscores the group’s decision to formalize a common strategy among the world’s economic powers.

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Topics: Access Control, DRM, G7, finance sector regulations, G7 summit, G7 finance, finance

Tackling Finance Compliance and Avoiding Expensive Leaks with Digital Rights Management

Posted by Sanjay Chopra on October 4 2016

All modern financial institutions are heavily dependent on IT and web-based solutions for day to day operations. But these technologies, such as cloud storage, email attachments and so on, are inherently risky. The number of files leaked through these tools in the finance industry grows year over year and in 2016 will be in the millions. These leaks are expensive: the average cost to a firm per incident will be over $15 million.

The increasing likelihood of successful cyber-attacks and data leaks is, in part, why data security and document tracking are now compulsory parts of financial and insurance industry regulations. Compliance programs are no longer just a checklist for the IT team to cross items off of. The implications of a data breach or leak are now much more significant than they were before. Non-compliance may result in financial institutions facing costly litigation and devastating loss of reputation.

Vaultize’s enterprise file security and digital rights management (DRM) solution helps financial, banking and insurance enterprises meet compliance by mitigating security and data loss risks. Vaultize can help security-minded finance sector enterprises address the main pain points in meeting today’s compliance requirements, such as:

  • Controlling and ensuring trusted access
  • Operational monitoring
  • Records management and versioning
  • Audit and risk management
  • Operational controls to ensure confidentiality
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Topics: Compliance, eDRM,, finance

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