The Importance of Data Loss Prevention

Data Loss Prevention or DLP poses a serious problem for companies as the numbers of incidents continue to rapidly increase. One of the biggest areas of data loss is through email as employees distribute confidential information to third parties such as vendors and customers.

Traditionally DLP providers have focused solely on internal files and information, but this does not address the leakage of sensitive data that results from email communications.

Data Loss Facts:

• 65% of IT/Security staff feels that email is a significant contributor to internal data loss. Infowatch
• Up to 75% of the intellectual property resides in email data stores. Enterprise Strategy Group
• An average data breach costs a company $6.3 million. Ponemon Group
• The cost per compromised record is $202. Ponemon Group
• One in five outgoing emails contains content that poses a legal, financial or regulatory risk. Forrester

The Importance of Encryption

With the introduction of privacy legislation and many companies following best practices, organizations have no choice but to comply and take steps to protect their confidential information. The consequences for not encrypting email and other content can result in significant fines, loss of reputation, loss of customers and, possibly, business failure.

With the advent of a mobile society and the digital sharing of confidential information, it is now more important than ever to encrypt the data that is constantly on the move.

In most cases email travels unprotected from the sender to the receiver and then is stored and forwarded many times over. At any point the message can be intercepted making the contents an easy target for fraudsters.

The Inside Story of Wal-Mart's Hacker Attack

Source: Wired Magazine 2009

Wal-Mart was the victim of a serious security breach:

"Wal-Mart had a number of security vulnerabilities at the time of the attack … For example, at least four years’ worth of customer purchasing data, including names, card numbers and expiration dates, were housed on company networks in unencrypted form."

During the investigation: "One team member sent an unencrypted e-mail update to other employees and was harshly rebuked by a senior security manager who warned them to communicate only through a secure instant messaging system."

For more about Wal-Mart and other companies that did not have Encryption and DLP policies and procedures in place: http://www.wired.com/threatlevel/2009/10/walmart-hack/#ixzz0jkrjYd6l

Echoworx Corporate Overview

Echoworx provides managed encryption services to address the growing need to protect confidential information from prying eyes, and makes the encryption of digital information easy.

This managed encryption service is used by Internet service providers (ISPs), application service providers (ASPs) and businesses including Symantec, AT&T, British Telecom, Verizon, Apptix and more.

Unlike competitors, Echoworx:

• Is built on a Software as a Service (SaaS) model
• Does not always require a client software download
• Is built on best-of-breed technology
• Reduces encryption complexity

With the Echoworx complete data protection service, organizations can protect their data without changing the way they use email. Users can easily send encrypted documents and digitally signed email messages to anyone in their address book, using their current email software.

Privacy applications:

• Encrypted Mail
• Encrypted Mail gives organizations the ability to enforce email encryption right at the desktop or from the BlackBerry, eliminating the possibility of confidential information being read by anyone other than the intended recipient.
• Encrypted Files and Folders
• Encrypted Files and Folders give organizations the power to enforce encryption across all confidential information, whether it resides on a laptop, network drive or removable USB key. Secure access to these encrypted documents can then be shared with individuals or groups across the organization, including finance, human resources, etc. without compromising the organization’s privacy policies and procedures.
• Encrypted Mail Gateway
• Encrypted Mail Gateway is a policy-based managed encryption solution that provides organizations with an easy way to enforce email encryption without disrupting the day-to-day workflow of their employees. This DLP (data loss prevention) encryption solution protects organizations from liabilities associated with privacy and security regulations and enables administrators to define policies around company confidential data that is being shared over the Internet.
• Encrypted Message Exchange
• Encrypted Message Exchange is a secure web-based portal that enables disparate organizations to work together and share confidential information within a secure environment. This fully-hosted solution adheres to the most stringent security standards, is completely auditable, allows for unlimited file sizes, and does not require any extra investment in hardware, software or IT resources.
• Encrypted Document Presentment
• Encrypted Document Presentment is a managed encryption service that enables organizations to efficiently and securely distribute large volumes of confidential data right to their customers’ inbox. This alternate solution to paper and postage not only encrypts confidential information, but automates the distribution of confidential mass mailings such as bank statements, insurance forms, bills, application forms and other confidential documents saving time, money and dramatically reducing an organization’s carbon foot print.
• Underlying Platform
• Echoworx privacy applications leverage the power of the Echoworx Encryption Services platform which encrypts data using industry standard PKI (Public Key Infrastructure) and S/MIME technologies. This provides strong encryption and digital signatures, relying on standard X.509 certificates. The Platform is hosted at Echoworx secure data centers.
• Services Team
• The Echoworx Services team provides consulting services to organizations that need help with the design, development, deployment and management of privacy solutions. This can be done through the Echoworx Secure Services platform or through the customization of Echoworx standard applications.
• The Echoworx team includes executive management, technical architects, product development, product management and professional services personnel with significant experience in managed encryption services.
• Company Background
• Echoworx was founded in 2000 and is known for its strategic partnerships with customers and commitment to superior service and support levels.
• Echoworx is privately owned and financed and is headquartered in Toronto, Canada, with sales representation in the United States and the United Kingdom.