According to a survey undertaken by Venafi, organisations need to quickly come to terms with how crucial encryption keys are to safeguarding the entire enterprise, as well as the heightened need for automated key and certificate management with access controls, separation of duties and improved policies
Data security and managed encryption services provider Venafi Inc says about 40% of IT staff have admitted that they could hold their employers hostage-even after they've left for other employment-making it difficult or impossible for their bosses to access vital data by withholding or hiding encryption keys. This is due to the lack of oversight and poor management of their organisation's encryption keys.
In a survey, conducted during the InfoSecurity 2011, Venafi said around 82% of companies now use digital certificates and encryption keys, and 43% admitted to being locked out from their own information, because people had left the organisation or keys were lost, and 76% said they would use automation if they knew it existed.
When organisations rely on the Internet and its corporate networks to conduct global business and facilitate worldwide communications, they deploy multiple layers of IT security hardware and software technologies-all designed to protect networks from unauthorised intrusion, cyber attacks and regulatory compliance violations.
However, due to the absence of automated management processes, solutions and practices, many organisations fail to gain complete control of its data encryption keys and certificate inventories.
Jeff Hudson, chief executive, Venafi, said in a statement, "It (data encryption and management) is no longer rocket science. Yet recently, costly breaches at Sony, Epsilon and elsewhere reinforce the need for both more encryption and effective management."
The data is based on a survey sample of 500 IT security specialists that was undertaken at the InfoSecurity 2011 event in April.
The survey reveals that organisations are taking huge risks with mission critical and sensitive business data. This risk is reminiscent of the situation Anglo Irish Bank found itself in when ex-employees held the organisation's encryption keys ransom after they left the organisation.
A third of the survey respondents said that their knowledge of and access to encryption keys and certificates, used for both system authentication and data protection, means they could bring the company to a grinding halt with minimal effort and little to stop them.
"Astonishingly, they claim that even after they have left, they still could cause havoc with their knowledge of the encryption keys, shared passwords and weak controls. 40% of respondents admitted that they would still have access to vital information and could manipulate it to their own ends-both to their company's financial and reputational detriment," the survey found out.
Venafi stated that 31% of the respondents said they could still access organisational data because they could easily retain the encryption keys when they left and access the information remotely.
Applying online for a trading account also gives the applicant instant access to My MotilalOswal–a Motilal Oswal feature that offers clients a personalised web experience, based on their unique needs
Motilal Oswal has launched a new feature on its website–a facility to open broking account online. This feature enables prospective customers to apply for Motilal Oswal broking account online by filling up an e-form at their own convenience. The customers can log on to this feature by clicking on to ‘Open an Account Online’ button in www.motilaloswal.com.
Being a part of the main website, www.motilaloswal.com, the prospects can read through the company details like the company background, research reports, its offerings and products & services, before they choose to open a trading account online. The process of applying for a trading account of Motilal Oswal online is quite easy and convenient–fill up the application form, make an online payment as per the scheme details and submit the form electronically. Being a fully secured payment gateway, this facility allows the customers to apply from any place at any time. Post application online, they can keep a track on the application status themselves. Applying online for a trading account also gives the applicant instant access to My MotilalOswal–a Motilal Oswal feature that offers clients a personalized web experience, based on their unique needs.
This feature of opening a trading account online is targeted especially towards technology savvy retail clients who are comfortable with using internet to buy products & services online. Motilal Oswal has launched this across 19 cities.
The service has been rolled out at 121 ‘easyday’ and 11 ‘easyday Market’ stores operated by Bharti Retail
Bharti Walmart and Bharti Retail have launched MoneyGram International’s money transfer service at their stores in association with Thomas Cook India.
The service has been rolled out at 121 ‘easyday’ and 11 ‘easyday Market’ stores operated by Bharti Retail across India and at six ‘Best Price Modern’ wholesale stores run by Bharti Walmart, the 50:50 joint venture venture between Bharti Enterprises and Wal-Mart Stores Inc.
Thomas Cook is a principal agent of Moneygram International in India.
“At Bharti Walmart, it is our endeavour to help people save money and the launch of convenient money transfer service through our stores brings us a step closer to achieving that,” Bharti Walmart managing director and CEO Raj Jain said.
As per RBI guidelines, Indian nationals can draw up to Rs50,000 in cash through the service after showing valid identity documents. For transactions above Rs50,000, they will be provided a cheque.
Foreign nationals can also avail of the service for up to $2,500.
“The tie-up will help Moneygram expand its footprint in India and increase the brand awareness,” Moneygram International executive vice-president Dan O'Malley said.
Currently, Moneygram services are available across 30,000 locations across India.