Ensure You Aren’t Part of the Statistics

The number of data breaches occurring across the world is astounding. If companies and organizations do not actively explore ways to protect themselves against growing cyber threats, then they are putting themselves at even greater risk. Recent research highlights the issues that organizations are facing in the ever-changing cybersecurity landscape.

  • Organizations are facing increasing vulnerabilities. Heimdal Security reported on insider threats explaining that, “59% of employees steal proprietary corporate data when they quit or are fired.” Poor data storage and policies lead to this issue.
  • The Symantec 2016 Internet Security Threat Report found that in 2015, “Crypto-style ransomware grew 35%.”
  • The number of breach incidents is increasing. According to the 2016 Identity Theft Resource Center Data Breach Category Summary, 454 data breaches have occurred resulting in nearly 12.7 million exposed records in 2016.
  • Breaches are quite easy for attackers. The 2016 Data Breach Investigations Report from Verizon states that it takes minutes or less for attackers to compromise systems.
  • Not only are breaches increasing; they are also becoming more expensive. The 2015 Data Breach Investigations Report from Verizon states that for a data breach of 1,000 records, the average cost is between $52,000 and $87,000.
  • The impact of a breach is significant. Heimdal Security reports that “68% of funds lost as a result of a cyber attack were declared unrecoverable.”
  • Via the 2014 State of Risk Report, as quoted in Trustwave Security Stats, even with increasing threats, the majority of businesses (63%) don’t have a well-thought-out data management strategy.
  • The 2015 Global Cybersecurity Status Report from ISACA reports that of all global organizations, only 38% feel that they are ready to handle a sophisticated cyber attack.
  • In fact, some victims of a breach don’t even realize their data has been compromised. “Four out of five victims [of a breach] don’t realize they’ve been attacked for a week or longer,” according to the 2016 Data Breach Investigations Report from Verizon.

Olfactex can help mitigate the majority of these threats. Organizations achieve more control over access permissions and are notified of abnormal behavior. Olfactex provides an encryption solution that is more convenient and secure than other options like zero knowledge encryption, shared key encryption, and homomorphic encryption. The patent-pending transformation process allows data to remain encrypted in use, which, before Olfactex, was unheard of. When used as prescribed, Olfactex eliminates mass data breaches all together allowing companies to fully utilize their data without risk. To learn more about encryption in use and how Olfactex works to protect your data, read the technical brief.

The Evolution of Cloud Computing

For most companies, data is one of their greatest assets. In the past, leveraging the value of that data, however, hasn’t proven very easy. In fact, it was, and often continues to be, cumbersome, time-consuming, and flat out risky. Companies who eventually figured out how to quickly process and analyze their data did so with the looming risk of data compromise. There was no available solution for securely processing large volumes of data quickly and easily. The technology, frankly, didn’t exist as companies sacrificed safety for efficiency. Data encryption in use, for example, was simply unheard of.

Fast forward a decade or two and we find massive troves of data, formerly stored on-site and difficult to sift through effectively, sitting in-cloud with nearly-immeasurable processing power wrapped around them. Rapid analysis of these large volumes of data can occur faster than ever, yet where are the layers of security protecting them?

That leads us to today where the same in-cloud data stores actually have layers of security applied to them in tandem to rapid processing and analysis capabilities. Only one solution, however, brings together advanced analytics and encryption in the cloud – Olfactex from Panoptex Technologies.

No other in-cloud solution can process big data rapidly without compromising on security. Yet Olfactex combines advanced, in-cloud, rapid processing and analysis paired with leading-edge data encryption at rest, in transit, and in use delivering the best of both worlds to business leaders who are serious about success.

Today’s strategic business leaders aren’t allowing security to interfere with advanced data analytics; they’re instead investing in solutions that provide for both. Hence, they’re investing in Olfactex for serious security and serious results. Request a demo of Olfactex and witness the true benefits of data encryption in use applied to in-cloud data stores for rapid, accurate advanced business analytics that will set your company apart from the rest.

The Largest Data Breaches of 2016

Industry research has confirmed the majority of data breaches over the past decade have been initiated by users with authorized access or as a result of organizational mismanagement with production environment systems. [1] However, cyber thieves remain a significant threat to organizations worldwide, and sadly, they’re not backing down. Attack methodologies range from phishing and social engineering to cross-site scripting and account compromise. Organizations lacking in strong security technologies, including encryption in use, are not only vulnerable, but they may not even know when they’re hit.

In 2016, some of the largest data breaches on record included educational institutions, social media sites, a restaurant, file-sharing sites, healthcare companies, technology giants, a matchmaking site, and the U.S. government… just to name a few. [2] Some of the more newsworthy breaches included:

  • U.S. Department of Justice (US DOJ) – Records on approximately 10,000 Department of Homeland Security and approximately 20,000 Federal Bureau of Investigation (FBI) employees released (February 2016)
  • Internal Revenue Service – A breach from May 2015 involving over 100,000 American taxpayers’ personal information was revealed to include over 700,000 taxpayer records (February 2016)
  • University of California Berkeley – Over 80,000 financial records belonging to students, alumni, employees, and school officials was compromised in December 2015, then announced to the public (February 2016)
  • Verizon Enterprise Solutions – Approximately 1,500,000 customer records stolen (March 2016)
  • LinkedIn – Approximately 117,000,000 user accounts credentials, stolen in 2012, were made public (May 2016)
  • Dropbox – Over 68,000,000 users’ credentials revealed from a 2012 data breach (September 2016)
  • Adult Friend Finder – Approximately 412,000,000 user accounts with personal information were stolen and published (November 2016)
  • Yahoo – Over 1,000,000,000 accounts breached; the largest data breach in history (December 2016) [2]

Corporate leaders at these organizations continue to struggle to find effective methods to prevent such traumatic, brand-impacting, and costly incidents affecting millions and millions of customers worldwide.

Firewalls and security awareness programs are far from enough to keep data safe. Organizations need a whole suite of technologies to lock down their data. The companies avoiding the negative spotlight are those who understand the intricate mix of high-end security technologies, internal policies, and incident response procedures. These same companies evade the temptation of “going cheap” and settling for low-tier security technologies. It takes best-of-breed web application firewalls, security monitoring technologies, advanced malware detection, security intelligence, and a corporate culture that promotes safer computing to yield a more secure foundation able to withstand a targeted attack. Combined with Olfactex by Panoptex Technologies, a cutting-edge, secure database, the possibility of a mass data breach can be completely eliminated. Corporate leaders now know to include security and data privacy department heads at the big table when strategizing to develop new products and services. Security and privacy by design are inevitable to successfully thwart attempts at stealing corporate data.

A data-centric approach that builds layers of security around the very thing hackers are after – the data itself – begins with strong encryption in use and ends with security policies holding every associate accountable. Data security is not a one-and-done process, but a continuous process for companies looking to remain safe. With the cost of a data breach reaching approximately $158 per record in 2016, companies can no longer afford a “wait and see approach” toward data security. [3] It’s time organizations secured their data on all sides and in all locations. Failing to act is no longer an option, so what are you waiting for?

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Big Data: Both an Asset and a Liability

Today, it’s all about the data, and organizations are well-aware of the double-edged sword big data brings to the table. On one hand, big data allows for rich, powerful analytics with strong queries and near-immeasurable results. On the other, hackers are relentlessly trying to crack through your organization’s cloud security barriers and reap all that you’ve sewn.

Data as an Asset

Used in a variety of contexts, data can prove to be invaluable to organizations. Data compiled over time allows companies to identify patterns and predict upcoming outcomes. Real-time data and analytics allows the monitoring of situations, therefore influencing decisions. Additionally, data can be used to optimize the customer experience. Having a wealth of information readily available about customers as organizations interact with them can be immensely helpful. Depositories of data are quickly growing into some of the largest assets organizations possess.

Data as a Liability

Corporate leaders consistently struggle with how to leverage all the benefits of big data, whilst minimizing the risks in keeping such a treasure trove of information. Data repositories carry with them a variety of liabilities and drawbacks, with cyber threats as the most obvious. A mass of data can be extremely valuable. Hackers can sell data on the black market, or they could hold data for ransom asking for a payment from the data’s original owner in order to recover it. In the most recent news of ransomware, a healthcare organization, Metropolitan Urology Group, had data of over 18,000 patients exposed. While data can be an extremely lucrative asset, it also opens organizations up to increased threats.

A Potential Solution

While there’s no easy way to stop all the methods cyber criminals will employ to penetrate your network and exfiltrate your prize data, there is one technology that surpasses all expectations and makes it nearly impossible for cyber thieves to get their hands on your information, let alone put it to use. With the right security mechanisms in place, your data in the cloud can be appropriately safeguarded and, should someone with malicious intent, be it an insider or external attacker, somehow manage to access your data, it will prove useless to them based on strong, well-managed encryption applied on all sides.

When it comes to protecting your big data, you don’t just need leading technology; you need one-of-a-kind security. Meet Olfactex, a revolutionary, in-cloud database and big data analytics solution that leverages uncompromising encryption, maintains data privacy and security, and allows for wide, linear, performance-based scalability. Developed by Panoptex Technologies, Olfactex transforms your organization’s data in into a network of ciphered facts that any, and all, unauthorized users simply cannot exploit. You won’t find encryption like this anywhere, as no technology on the market shy of Olfactex encrypts data in all three states — in transit, at rest, and in use! With that level of encryption, your data remains encrypted throughout its use within Olfactex.

Don’t risk your company’s data, its reputation, and its bottom line. Request a demo of Olfactex and secure your organization’s big data with true, effective, and reliable cloud security. Optimize your data asset and minimize liability.

How to Avoid Data Privacy Violations

Violations of data privacy laws don’t begin and end with lofty fines. They can also negatively impact a corporation’s brand and, in some cases, set them on a course toward potential shutdown. Corporate leaders are quickly realizing in order to continue doing business on an international scale, they must comply with an ever-evolving set of data privacy laws with database security as more and more countries aim to protect their citizens’ personal data while levying heavy fines at companies who fail to properly implement a data protection strategy.

Securing personal data takes planning, research, budget, and commitment. Falling short in any of these areas can lead to a weakened security and privacy framework that’s prone to data breaches. Initial steps begin with executive commitment and support, which brings with it the money to analyze and eventually procure appropriate data protection technologies and services. Researching current privacy laws in jurisdictions where your company does business is also key.

Once the lay of the land is fairly-well understood, the creation of strong data protection policies that apply to every employee are imperative. Having these policies reviewed by in-house or external counsel may reveal necessary tweaks to ensure there are no gaping holes and that they’re practical. Regulators often fine companies for simply violating their own written policies. Corporations must carefully choose the right mix of technologies and services to protect their data, which includes company confidential, employee, and customer personal information.

Some of the more proven technologies involve strong encryption and, with more and more data stored in the cloud, savvy corporate leaders recognize the need for data security on and off prem. When it comes to cloud database security, only one vendor offers encryption for all three states of data. That vendor is Panoptex Technologies. “Olfactex is a one-of-a-kind, encrypted, high-capacity, in-cloud database and advanced analytics solution that uses patent-pending technology to prevent data from being abused or compromised.” [1] Olfactex ensures data remains encrypted in transit, at rest, and during use, something no other technology on the market can handle. No matter how many new and existing laws and regulations apply to your business, you can rest assured your data is fully protected with Olfactex.

Don’t risk your company’s data, its reputation, and its bottom line. Request a demo of Olfactex and secure your company’s data, as well as its future.

Use Data Encryption to Shut Down Insider Threats

While an external hacker breaking into systems, elevating privileges, and eventually accessing data may seem daunting, insider threats may be even more of a concern. Both certainly bring about more than an ounce of anxiety, but insider threats (aka employees) often have far more access than they need and the means to take what they want at any time. In addition, some employees lose or give access to information by mistake, allowing someone else the opportunity to use corporations’ data in ways they never intended. Without appropriately implementing data encryption, employees can access far more information than their roles should allow, whether they intend to or not.

Unintended Breaches

Considering that “insider threats accounted for 43% of all data loss in 2016,” [1] corporate leaders are realizing that threats don’t just come knocking on your door. Sometimes, they’re already inside. Insider threats take many forms, and oftentimes, employees won’t even intend to become a threat. For instance, in September of 2016, BlueSnap, a provider that offers merchant facilities for websites, suffered a breach of nearly 325,000 records including names, phone numbers, credit card information, invoices, and more. In an embarrassing turn of events, BlueSnap’s partner, Regpack, an online registration service, was found responsible for the breach. An employee accidentally posted decrypted information onto a public-facing server, ultimately resulting in the data loss [2]. From accidental posting to using unencrypted thumb drives, the potential for human error is great.

Intended Breaches

Further, consider the employee who didn’t receive the raise or bonus they were banking on and decides to download a large portion of your customer database and then uploads it to their own, personal Dropbox or Hightail account. They can then sell that information “to make back the money they deserve.” A disgruntled employee at the Federal Deposit Insurance Corporation (FDIC) did something similar. When she left her job, she took a thumb drive with bank account and social security information on about 30,000 people [3]. Insider threats are everywhere – at your company, at companies storing and processing your personal information, and in government databases. How can corporations ensure their employees only access the data they’re supposed to and that their data remains encrypted at all times?

The Solution

What if a cloud database encrypted your company’s information on all sides? Traditionally, data could only be encrypted while stored (at rest) and while transmitted (in transit). Data in use, however, remained in the clear so that processes could interact with it seamlessly and efficiently, all the while maintaining data integrity. Yet now, data in use can be encrypted allowing real end-to-end protection. Panoptex Technologies created Olfactex for this very reason.

Olfactex uses a patent-pending transformation process to ensure data is encrypted in transit, at rest, and in use. In addition, Olfactex provides for separate (employee) administrator responsibilities to keep access distributed appropriately across your systems and databases ensuring no one administrator has more access than they need to the organization’s most valuable information. Plus, Olfactex uses audit reporting services to hone in on discrepancies with employees’ typical patterns of use. So, if an employee who normally accesses 80 records per day all of a sudden starts accessing 500 records a day, you’ll know and can quickly investigate.

With data encryption covering usage, storage, and transit via Olfactex, corporate leaders can finally rest easy, shut down insider threats, and instead focus on their goals and priorities. To learn more about how Olfactex can protect your organization from insider threats, contact us today.

Data Security in the Cloud

Many corporate leaders still hesitate placing their most valuable data in the cloud with the belief that only servers in their data center can safeguard them from data compromise. Trust in cloud technologies has waned for years, given the rise in reported data breaches and all the negative attention such events bring. “While cloud adoption is very much on the rise, organizations still lack confidence in the cloud’s ability to protect sensitive information.“ [1] Without reliable, scalable encryption in the cloud, corporate leaders are indeed better off keeping their data close to home.

We’ve all heard about data breaches to Apple’s iCloud, Oracle’s Micros Point of Sale (POS) systems, Dropbox’s online file sharing site, Yahoo account services breaches… the list goes on. Fear of lax security is top of mind across nearly every enterprise. Corporations need a reliable cloud database provider who not only provides scalability, but also boasts encryption in every state data resides in, plus powerful, sophisticated query and analytics capabilities.

We’ve added in the necessary complexities, design, and full-scale encryption to yield true data security in the cloud. Take Panoptex Technologies’ in-cloud database and analytics solution, known as Olfactex, which offers uncompromising security, scalability, and performance. When you look under the hood, Olfactex encrypts data:

  • In transit
  • At rest
  • While in use

Encryption while in use is unheard of in the industry, until now. This encryption trifecta ensures only those with authorization can see, process, analyze, and transfer data. The Olfactex system ingests data as batches or streams and operates on data sets ranging in size from megabytes to petabytes [2]. Olfactex creates business intelligence and yields powerful analytics using our patent-pending transformation process, which leverages an administrative boundary between client on-prem and server in-cloud subsystems where strong encryption techniques ensure data transfer and processing occur seamlessly and securely. Information remains encrypted from the time it leaves the client and throughout its use within Olfactex, yielding data as a network of ciphered facts that are useless to any and all unauthorized users.

Corporate leaders are quickly taking notice of Olfactex’s ability to secure their most sensitive information, allowing them to build big data applications that yield business analysis and intelligence second to none.

Finally, corporate leaders have a cloud database solution that won’t risk compromising their data and tarnishing their brand. Real, solid, scalable encryption in the cloud has finally arrived via Olfactex.

Protecting Your Data on All Sides

The value of today’s data cannot be overestimated. Corporate, confidential, and personally identifiable information is a high-value commodity on the black market. Cybercriminals are constantly finding new ways to access and steal this priceless information. Most companies struggle to keep their data secure, and with more information moving to the cloud, companies are looking for a way to safeguard themselves against the eminent data breach. Perhaps the best way to effectively secure private and sensitive information is through data encryption.

Despite the widespread availability of encryption, companies still hesitate to store their most valuable data in the cloud. There are three primary reasons corporations often avoid the cloud:

  1. A continued rise in data security breaches resulting in costly government fines
  2. A growing concern that multiple simultaneous attacks can result in the total loss of significant data records and unrecoverable damages
  3. Internal or industry specific requirements [1]

Last year alone, data breaches continued to grow in size and frequency leaving no industry unscathed. During the 2016 election, the Democratic National Committee was hacked, causing major implications for US politics, but they weren’t alone. The healthcare industry, the federal government, and point-of-sale technology all suffered continuous and repeated attacks. [2] Meanwhile, countries like Russia and China introduced data residency requirements causing some companies to abandon doing business there, while others struggle to find in-country means for data storage and processing. Further, new regulations brewing in the European Union will change the way companies acquire, process, and handle personal data with the introduction and implementation of the GDPR. Other regions, such as Asia and Latin America, are also inducing new data protection laws that will impact corporations worldwide. In addition, the average cost of a successful data breach rose to $158 per record in 2016, with a consolidated total cost of $4 million per event. [3]

Events like these leave corporate leaders eager to find a solution they can trust to protect their data on all sides, one that can ensure compliance with new and changing rules and regulations across the globe.

Given the weaknesses faced by the current solutions on the market that employ traditional methods for security and privacy, plagued often times with ineffective key management and scalability challenges, a new type of approach to securing data is needed to cover the ever-changing landscape of cloud storage. Traditional encryption methods and protocols only secure data at rest and in transit. Experience has shown that these methods are insufficient to combat the growing number and types of attacks. Consequentially, data security finds itself in the crosshairs of change. True end-to-end security requires that data remain encrypted throughout its lifecycle, including while it is in use. Fortunately, there is now a solution that can provide encryption in transit, at rest, and in use while maintaining the ability to operate at massive scale and in near real time.

Panoptex Technologies has developed Olfactex, a massively scalable in cloud database that transforms data into a network of ciphered facts. [4] Data remains encrypted from the time it leaves the client throughout its presence in the cloud, rendering all data useless to anyone unauthorized to access it.

Olfactex ensures data is secure in every state:

 

  • In transit
  • At rest
  • In use

Olfactex is the first and only cloud database solution to comprehensively address the security and privacy challenges of big data without compromising scalability, capability, or performance. [5] With true 360-degree data encryption provided by Olfactex, companies can finally leverage encryption to its fullest potential and reduce the risk of data compromise beyond measure, ultimately, meeting the needs of both business intelligence and business risk.

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