eSecurity Planet – Massive SEC Breach Highlights Need for Broader Use of Encryption

esp_logoU.S. Securities and Exchange Commission (SEC) chairman Jay Clayton recently announced that a software vulnerability in its Electronic Data Gathering, Analysis and Retrieval (EDGAR) system “was exploited and resulted in access to nonpublic information” in 2016.

Jason Hart, vice president and CTO for data protection at Gemalto, said by email that stopping breaches like these is an unrealistic goal. “A better starting point is for organizations to truly know what they are trying to protect and then putting the right safeguards like encryption in place,” he said. “Of the 1.9 billion data records compromised worldwide in the first half of 2017, less than 1 percent used encryption to render the information useless.”

According to Gemalto’s Breach Level Index for the first half of 2017, the proportion of stolen, lost or compromised data that was protected by encryption dropped by 4 percent compared to the last six months of 2016.

The first half of 2017 also saw a 164 percent increase in stolen, lost or compromised records — over 10 million records were compromised or exposed every day, or 122 records every second.

To read the full article click here.

Leave a Reply