Viewing entries tagged
cybersecurity

Turning Data into Digital Oil

Turning Data into Digital Oil

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Data is the new oil, according to the Economist. The problem is how to extract and trade it without diminishing its value or comprising privacy and security.

Unlike oil, it can be copied and shared, which undermines its scarcity value. This is a source of huge frustration for banks, which have come to regard customer data as a valuable asset. If they sell the data itself, they are diminishing its value. But that is not their only problem.

Strict global and sovereign regulations protect customer data from exploitation and misuse, including fraud. As a result, it is illegal in many jurisdictions to export customer data. This makes it harder – and more expensive – for banks to aggregate and analyze data sets across regions or feed it into machine learning programs to build credit risk profiles, fight fraud or combat money laundering. Banks are stuck with having to run multiple models on individual data sets within each region or anonymize data for export.

The first option results in smaller data sets, which limits their usefulness and delivers poorer predictions. The second option fails to deliver the full value of the data. Here’s why.

For the complete article please see the original post at Temenos.

Confusion in China's Cyber Laws

Confusion in China's Cyber Laws

The latest in a wave of sovereign data security laws has emerged from China, causing some alarm with companies trying to understand how it could impact their businesses.  Several sectors are identified as "critical information infrastructure", including telecommunications, information services and finance, who would be required to store personal information and sensitive business data in China, among other things. Perhaps the most significant concern is the ambiguity of China's intentions with this new legislation, although the acceptance of several U.S. technology companies into the Technical Committee 260 earlier this year indicates a broadening will to collaborate.  

Regardless of the objectives and enforcement methods used in this and similar legislation around the world, if users and customers encrypt their data before corporate networks or applications process it, it is virtually impossible for authorities in any sovereignty to hold enterprises accountable for content that they cannot see or access.

 

Cloud Security by the numbers

Cloud Security by the numbers

With over 3,000 IT professionals surveyed, the recent Ponemon study sponsored by Gemalto addressed issues concerning the "Global State of Cloud Data Security."  The webcast can be viewed here and the report can be downloaded here.  The participants represented a good cross section of company scale and geographic location around the world.  Over 70% of those surveyed believe that the "management of privacy and data protection regulations" are more complex in the cloud, due in part to the fact that a similar number believe that it is "more difficult to protect confidential or sensitive information in the cloud" (see graphic). 

Whereas enterprises look to save money, improve scalability and simplify their IT infrastructure through cloud services, they believe that security, privacy and compliance are much harder to achieve.  Perhaps it is no surprise then that only about a third of those surveyed use encryption to secure their cloud data; however, it is encouraging to note that half of those using cryptographic tools make data unreadable before sending it to the cloud provider, implying that they manage their own keys.  Responses are trending in the right direction but we still need to do more work to educate IT pros on how to exceed privacy and regulatory requirements through proper end-to-end encryption.

 

 

[Secure] Sharing is caring

[Secure] Sharing is caring

Many of our customers responded with the need to share sensitive data with approved collaborators.  We are excited to announce the release of  _ultra 1.2 to support sharing of encrypted data sets without decryption through single key exchange. This capability is particularly useful in big data collaboration because the compute overhead to share data is independent of its size. Key exchange is accomplished in constant time which means the shared encrypted data set is immediately available for computation. 

Keyword search is enabled on shared data by utilizing a key exchange system based on standard public and secret key cryptography. The _ultra encrypted key architecture allows applications to manage information in vulnerable cloud or on-premise environments while keeping sensitive data unreadable to the infrastructure provider and host.