Management of Confidential Data Exchange

In the worlds of cybersecurity, there is much attention given to safeguarding sensitive data from loss or exposure. However many organizations fail acknowledge that the information they handle is also vulnerable during the process of transfer. This is often the situation when data is shared with partners and customers or business associates.

The management of confidential data exchange is essential to prevent breaches and maintaining trust with customers, stakeholders and business partners. Security breaches that expose confidential data can have devastating effects on the reputation of a brand and trust. This is particularly true in the healthcare industry where HIPAA stipulates that healthcare facilities must have a secure way to share patient records electronic.

Similar to other types of industries. Retailers and ecommerce sites must protect the personal data of their customers when they buy products online. Education institutions are required to keep student records confidential to protect against identity theft. Financial institutions must ensure that sensitive documents are protected when they send files to business partners.

While protecting specific locations on servers, systems and even in the cloud is a critical aspect of handling confidential data, this approach can be not flexible for businesses that frequently work with third parties and have to share confidential documents. Alternatively, businesses can rely on encrypted software solutions like those from Anjuna, CanaryBit, CYSEC, Decentriq and others that use encryption and zero-knowledge proofs to allow for confidentiality-preserving sharing.