IT companies are a major backbone of the global market in the current times. They not only drive digital transformation for businesses but also help in building technologies that create customer-centric experiences for brands. However, despite the stringent measures, the IT companies too have not been untouched by the rising cyberattacks. There has been a substantial rise in the number of data breaches on IT companies. Although the companies deploy some of the latest technologies and techniques to secure their database even further, the same technology is being used by hackers to find workarounds. However, data encryption has been one of the major tools that can help IT companies safeguard their data. The data used by these companies is very critical, and when in the wrong hands can cause severe consequences for the brand.
Data Attacks on the IT companies
Cyberattacks on IT companies have increased in the last couple of years. It has been one of the major segments where hackers have been actively trying to steal major chunks of data. In the past, there have been many such incidents, where major IT firms were attacked by hackers and experienced data loss their servers.
One of the biggest players in the IT sector, Microsoft, was attacked by a cyber hacking group Lapsus$, which was based out of South America. The hacking group used a wide variety of tactics to do so. They were able to steal personnel information and gain access to the sensitive information. The same technique was also used to access and control source code for the products. Similar attacks were done by the same group on Okta, NVIDIA, and Samsung.
When NVIDIA was attacked, more than 71,000 employees were affected as their credentials were stolen. Also, the source code of Nvidia’s DLSS (Deep Learning Super Sampling) AI rendering technology and information was stolen, which was still pending announcement.
Okta faced similar issues where the same hacking group was able to hack the customer data of Okta. The hack was done through the laptop of an employee that was hired by the contractor. The data breach lasted 25 minutes, during which two companies authentication systems had been accessed.
Data Attacked at the IT Companies
IT companies work on various kinds of data and products. Some of the few examples are digital products, security software and other important source codes that could shape the future of technology in the world. Now imagine a group of hackers was able to hack into the data and find a backdoor into the software or technology without anyone knowing. The risk turns even larger when the technology is related to financial institutions.
The data that the IT companies hold is extremely critical and hackers try regularly to hack into their databases and get access to as much data as possible. In the past, hackers have been able to release the details of many such programs and technologies which were not even launched in the market. Due to this, the companies had to suffer a great deal of loss in terms of both financial and reputation. Hence, data encryption is one of the major requirements for IT companies, to ensure that their data cannot be interpreted by hackers.
Need for Encryption at the IT Companies
Data encryption software protects the data stored on the laptops, computers, removable drive and even before uploading on the cloud. This enables IT companies to secure any kind of data related to the technology they are developing, and the source codes associated with it. The software also ensures that the hackers are devoid of any access to the novel products or technologies that are being worked upon by the IT companies.
New technologies which are yet to be patented are developed to be more secure and efficient. If hackers get their hands on it, the technology can be misused. Overall, the hackers will be able to hold the company for ransom through ransomware and can also leak the data on the dark web.
Without data encryption, there exists a chance that can get the data hacked, which could cause some serious issues for any IT company. An IT company which has a data leak can loses its reputation in the market as well trust of its clients’. There could be regulatory fine which can add to the financial loss that the company needs to bear for the data breach. A data breach could lead to loss of customers adding to the overall financial burden. Additionally, the breach can also make it difficult for an IT company to associate with new clients.
Cryptainer Enterprise Functioning for IT companies
Cypherix’s Cryptainer Enterprise, a data encryption software allows the IT company employees to store data in any format without compromising the productivity of their system. The vault looks like a drive partition in the Windows operating system. The employees can move all their files to the drive through drag-and-drop operation. By saving the files in the vault, all the files are automatically encrypted. The vault is a virtual desk which can be accessed using a passcode generated during encryption. In the absence of the passcode, the data stored is cryptic and illegible for anyone who tries to access the data.
Cryptainer Enterprise software allows you to access all the files in the vault using a single password. In case you forget the password, the administrative module would help you to recover the password once again and access the files. The administrative module is a single point of contact for the company to manage and control data security. It also allows access and control of all the vaults in the company from a single view. Therefore, the changes in data security guides can be easily made in a company without having to make any changes to the encryption software.
The data encryption software also supports secured data communication, in case the employees need to send sensitive data to each other through emails. The same encryption software allows the employees to encrypt the e-mail, which can be only decrypted by the receiver to read it. Cryptainer Enterprise encryption software comes is globally compliant with blowfish and AES strong encryption algorithms. Due to this, it has strong encryption which maintains the data integrity and protects against executables and modifications.
The software can easily run on windows operating system where it also provides command line processing option so that encrypting/decrypting is possible at the dos prompt. The windows user-interface is intuitive and simple and on a single drag-and-drop one can encrypt files and folders of any size in seconds.
Cryptainer Enterprise enhances the data security policies of IT companies by being the additional layer of encryption for employees. The encryption software addresses the hierarchical information segregation sought after by the companies. Irrespective of the individual employees’ passwords, Cryptainer Enterprise’s admin module allows companies to control and maintain data. This enables company to retrieve data in case of a resignation, physical theft or cyberattack. The admins can control the vaults without interfering with the operating systems of the individual owners. This allows companies to modify their data security policies without changing the company software. Using the data encryption software is very important for IT companies as it will safeguard the data against any data breaches.