More Enterprises Encrypting Data, But Spending Less to Do It: Survey
An annual survey of encryption deployment in businesses finds that slightly more firms have a comprehensive strategy, with retail and health care firms showing the most significant gains.Following major breaches in 2014—which hit retail and health care firms the hardest—enterprises have increasingly adopted encryption strategies despite the majority having significant difficulties deploying the security technology, according to a survey conducted by the Ponemon Institute. The survey, released on Apr. 20, found that 64 percent of companies have an encryption strategy that is either consistently applied across all business data or that secures different data types in different ways. More than a third of companies had extensively deployed encryption technologies, according to the report, which was sponsored by security firm Thales e-Security. While financial services continued to be the industry that led in deploying encryption deployment in 2014, the greatest percentage gains were in the health care, pharmaceuticals and retail industries. "These are less sophisticated industries than the financial side, and making them aware of the lessons that have been learned by the banks can help them figure [it] out," Richard Moulds, vice president of product strategy at Thales e-Security, told eWEEK.
Over the past three years, privacy and data-security incidents have highlighted corporate failures in protecting sensitive data. In June 2013, reports of widespread surveillance and data collection by the National Security Agency (NSA) and international intelligence organizations underscored the vulnerability of unencrypted data. The huge data breaches that hit retail giant Target and health insurance companies Anthem and Premera further highlighted the privacy risks posed by unsecured data.