Protecting Private, Confidential and Sensitive, Information from Leakage
Data leakage incidents among big companies have become a phenomenon, which is concerning since this also involves confidential business deals apart from personal confidential information in private communication mediums. Confidential information leakage due to mobile devices increases yearly since mobile phones can be heavily vulnerable to phishing attacks and unintentional information leakage. Mobile compliance for text message monitoring is essential for companies and organizations.
In the past, organizations were required to establish security measures for devices like desktops, laptop computers, servers, and data centers. However, at present, mobile communication compliance has become the norm, especially at a time wherein technological advancements have impacted the way employees worldwide communicate. Data protection guidelines now have to include capturing mobile calls, text messages, and archiving these data.
Data breaches in a large organization can negatively impact its reputation and lead to billions of dollars in revenue loss. Regulatory authorities enforce strict guidelines for confidential protection. If data accidentally falls into the wrong hands, it can severely affect business clients, finances, and reputation.
Fortune 2000 companies or the world’s largest organizations can lose more due to data breaches. Its impact can mean more significant damage, wherein it can reach $3.86 million in losses, and it keeps rising yearly. With such incidents, stock prices of Fortune 2000 companies can go down, stock owners can lose their trust and confidence, and potential business clients will never invest in their stocks.
One critical requirement for protecting confidential information is encryption, as it helps improve the privacy and confidentiality of sensitive information. Proper archiving and capturing solutions can encrypt the data stored in the archive.
Regulatory bodies require big companies in Fortune 2000 list to comply with mobile archiving requirements from the Financial Conduct Authority (FCA) archiving and Financial Industry Regulatory Authority (FINRA). Companies must prioritize preventing leakage and protecting sensitive and private confidential information since it helps avoid damages to finance and reputation in the long run.