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Fasoo shows unstructured data security at Gartner SRM 2018

This year at the Gartner Security & Risk Management Summit in National Harbor, MD there was a lot of focus on reducing business risk through improved cybersecurity that focuses on protecting data as users create and share it.  One area of concern to many organizations is how to find and protect sensitive data without impacting how employees and customers work.  Data protection regulations, like GDPR, are making things more complicated, but companies need to balance security with productivity.

At the Fasoo booth, a lot of people talked about issues with combining different technologies that still focus more on protecting the location of data rather than the data itself.  One executive from a manufacturing company talked about how her DLP system can tell them that sensitive documents were shared with external parties, but can’t really control their access or stop them from going out.  This is a common concern as companies use DLP, CASB and other technologies that can’t control access everywhere.

On Tuesday, June 5, 2018, John Herring, President & CEO of Fasoo, Inc. and Ron Arden, Executive Vice President and COO of Fasoo, Inc., presented “Unstructured Data Solutions Journey”.  John talked about the challenges of balancing data security and productivity and how many of the traditional approaches of securing the data perimeter haven’t met the hype.  By securing the data itself, you don’t need to worry about where it goes, since it’s always protected and tracked.  He presented how some of Fasoo’s customers have overcome the challenges with a holistic approach to discover, classify, protect and track sensitive manufacturing data and information subject to regulatory control using Fasoo Data Radar and Wrapsody.

Fasoo presentation on protecting unstructured data at GSRM 2018

Ron showed how in three quick steps with Wrapsody an organization can securely collaborate when creating a product quote while limiting access to specific people and making it easy to ensure they each have the latest version.  With a few clicks of a mouse a sales manager encrypted a spreadsheet, applied access control to it, provided an audit trail and automatically synchronized the latest version to a central location.  As the operations manager updates the quote and shares it with a customer, the process is easy for all parties to get the latest information and ensure the entire process is secure regardless of who has the document and where they open it.

During the course of the summit, a lot of attendees and analysts came to the Fasoo booth to understand the best ways to comply with new regulations and how to protect sensitive data from both internal and external threats.  Visitors were very impressed by how the Fasoo Data Security Framework can help them achieve those goals by discovering, encrypting and controlling their sensitive data.

Attendees at the session and at the booth were excited to see that Fasoo technology is very robust, balances security with usability and integrates with an organization’s existing infrastructure.  A common strategy is to make the technology almost invisible to users unless they try to violate a security policy.  I remember one person saying, “I was a little skeptical during your presentation, but convinced once I saw it in action.”

Fasoo Moderates Panel on Cybersecurity and Your CompanyBill Blake, Senior Vice President and CCO (Chief Customer Officer) of Fasoo, moderated a panel discussion on Cybersecurity on September 13, 2017 at Harter Secrest & Emery LLP in Rochester, NY.  The event entitled Cyber Security & Your Company – What You Need to Know Now featured industry leaders and experts from The Bonadio Group, Fasoo, Lawley, and Harter Secrest & Emery LLP discuss how, when, and why to plan for a cyber attack.

The event was part of a continuing dialog with organizations on the needs for stricter cybersecurity controls in the wake of the ever growing threat of data breaches and threats to business operations.  Recent data breaches at Equifax, Verizon and others show that any organization is vulnerable to external attacks or insider threats.  Regulations and legislation, such as the New York NYDFS 23 NYCRR 500 cybersecurity regulations and GDPR in Europe, are causing businesses to improve their security posture to protect business and customer information.

Paul Greene, an attorney with Harter Secrest & Emery LLP, started the event with some opening remarks and Bill Blake got right into the discussion questions which hit on a number of cybersecurity topics, including how to prepare for a cyber attack, the role of insurance in your incident response plan and how the newest cybersecurity regulations and laws affect your business.

High on the list was a discussion of the recent Equifax data breach and how it affects businesses and consumers.  This lead to a discussion and questions about risk assessments and how they are critical to improving your cyber security posture.

Carl Cadregari, an Executive Vice President at The Bonadio Group, talked about the frequency of doing a risk assessment.  This is not something you can do once.  The threat landscape is constantly changing and the needs of your business are evolving, so you need to continually assess your risk and the best ways to mitigate it.  Carl said that finding your most sensitive data and encrypting it is one of the best ways to ensure you are protected.  If a hacker gets encrypted files, they won’t be able to use them.  In many cases this may not be considered a data breach, so you don’t need to report it.

While most of us think about technical solutions, legal ones are as important as well, since a cybersecurity event is not a breach until your attorney says it is.  Paul Greene mentioned “It’s important to involve counsel in your Risk Assessment process because it allows you to have a full and frank discussion about any shortcomings you may find, without worrying that those discussions can be used against you.  That’s the protection of the attorney-client privilege, it allows for that “oh [expletive]” moment when you discover something that may be really bad, without the worry that those communications will be used against you.”

Reggie Dejean, a Specialty Insurance Director from Lawley Insurance, talked about the crucial role of insurance in any cyber compliance program.  He said, “Cybersecurity insurance can help mitigate the financial loss that occurs when, not if, a data breach happens to a company. These policies can help cover some of the costs which include forensics, credit monitoring, notifying those affected, public relations and more. In today’s world, any size company is susceptible to a cyber breach, so cyber intrusion insurance can help reduce your risk and costs.”

Bill Blake brought up printing as a risk that many organizations don’t think about.  There tends to be a focus on digital assets, but if someone prints sensitive information, there is still the same liability when it comes to regulation and the law.  Numerous audience members asked if protection of sensitive data extends to paper files and the general consensus is that it does.  Preventing printing to minimize risk is clearly a good strategy when applicable, but masking sensitive data and applying visible watermarks are also good strategies to help eliminate sensitive data on paper and allow you to trace the information back to the person that printed it.

Another big discussion was around risk in the supply chain.  An audience member from a bank said they share a lot of information with Equifax and was wondering if the bank is liable because of the Equifax data breach.  Under the NYDFS 23 NYCRR 500 cybersecurity regulations an organization is responsible for the security of data it shares with its supply chain.  Whether the bank needs to inform authorities of a breach in its supply chain is unclear, but it is ultimately responsible for its data.  Third and fourth party protection will come from both technical and legal remedies.  You need air tight legal agreements to mitigate your risk, but encrypting and controlling your shared information is the best solution to supply chain risk.

The event finished with questions from attendees on the most challenging areas in their companies for compliance.  One bit of advice from the panel was to remember that companies should focus on protecting their sensitive information.  While many can get caught up in the minutiae of plans and reporting, it is imperative to focus on protecting the data which drives the business.

Fasoo helps customers comply with GDPR and NYDFS 23 NYCRR 500This year at the Gartner Security & Risk Management Summit in National Harbor, MD there was a lot of focus on managing and mitigating risk to a business and how to  improve cybersecurity through data-centric protection.  One area of concern to many organizations is how to comply with some of the newer cybersecurity and data protection regulations, like GDPR, as governments are trying to improve customer and business data security.

With all the recent malware, ransomware and data breaches, there was obviously a focus on how to prevent harm to one’s business.  As businesses move more into the realm of digital business, the concept of trust is becoming a larger issue.  If your customers do not trust you with their data, they will be less likely to do business with you.

On Tuesday June 12, 2017, John Herring, President & CEO of Fasoo, Inc., Dr. Larry Ponemon of the Ponemon Institute, and Ron Arden, Executive Vice President and COO of Fasoo, Inc., presented “Do You Have a Pathway to Data Security Compliance?”John talked about the challenges of complying with the new NYDFS 23 NYCRR 500 cybersecurity regulation that affects any business regulated under banking, insurance and financial services laws in New York.  This applies to organizations doing business in NY and also affects third party service providers of those organizations.

John Herring, Larry Ponemon and Ron Arden present at Gartner summitDr. Ponemon presented recent research from his study “Countdown to Compliance: Are financial services firms prepared for NYDFS 23 NYCRR 500?”.  Some of the key findings from the survey include:

  • 60 percent of respondents believe this regulation will be more difficult to implement than GLBA, HIPAA, PCI DSS and SOX
  • Over 50 percent do not have a formal cybersecurity program
  • 68 percent believe that the inability to know where high value data assets are located will pose a significant challenge

Ron discussed a six step plan to encrypt and control unstructured data or data in files that is a key component of meeting the NYDFS, GDPR and other data protection and privacy regulations.  The session had about 150 people in it and many of them asked specific questions about who is affected, how do you work with your service providers to ensure they are protecting your sensitive data, and how to really provide complete control of your information regardless of its location.

During the course of the summit, a lot of attendees and analysts came to the Fasoo booth to understand the best ways to comply with these new regulations and how to protect sensitive data from both internal and external threats.  Visitors were very impressed by how the Fasoo Data Security Framework can help them achieve those goals by discovering, encrypting and controlling their sensitive data.

One interesting presentation by John Girard and Brian Reed from Gartner focused on information-centric security practices and the best ways to protect your business information.  While Gartner and most of the security industry recommends a layered approach to security, when it comes to protecting information in files, John and Brian said that EDRM is the only solution that can really protect it.  This is an important recognition that in the game of information protection and thwarting malicious or inadvertent attempts to steal sensitive data, perimeter solutions cannot meet the requirements as well as EDRM.

Attendees at the session and at the booth were excited to see that Fasoo technology is very robust, balances security with usability and integrates with an organization’s existing infrastructure.  I remember one person saying, “I was a little skeptical during your presentation, but convinced once I saw it in action.”

Click here to see the Countdown to Compliance, Fasoo Sponsored Ponemon Institute Survey of NYDFS 23 NYCRR 500Fasoo sponsored a Ponemon Institute survey to determine the readiness of financial firms doing business in New York State to comply with the new cybersecurity regulation NYDFS 23 NYCRR 500 that went into effect on March 1, 2017.  The regulation includes deadlines to implement procedures and solutions to achieve compliance with the new standards.  Since New York is one of the world’s financial capitals, the state wants to ensure that organizations that operate under the banking, insurance or financial services regulations provide a secure information sharing environment to protect companies and their customers.

“The survey is aptly titled “Countdown to Compliance,” said Dr. Larry Ponemon.  “Our goal is to provide insight into the challenges these organizations face in complying with the demanding new requirements which apply to all ‘nonpublic information’ – at rest, in-transit and shared with third parties.  The survey will provide insight into their efforts to comply over the next 180 to 365 days.”

Many organizations may not realize they are covered under these regulations, but if you just go to the NY Department of Financial Services website, you can search for your business.  If you are a financial institution,

insurance company, insurance licensee or service contract provider, you are most likely covered.  This also includes foreign banks that are New York State-chartered or licensed.

This is the second Ponemon Institute survey sponsored by Fasoo during the past year. The previous research, titled “Risky Business: How Company Insiders Put High Value Information at Risk” polled IT security practitioners on risks of data breaches by trusted insiders.  The information in that survey is still very relevant to financial services firms and any business today.

“Both of these Ponemon surveys build market awareness and inform CIO/CISO and Compliance Officer leadership as to the need and now the mandatory New York State requirements for data-centric security, audit, and compliance solutions,” said John Herring, CEO of Fasoo, Inc.  “We are joining with leading Legal, GRC and Insurance cybersecurity professionals to sponsor several events across New York State to highlight strategies and enterprise ready data-centric solutions to address regulatory compliance.”

If want to get an early release copy of the “Countdown to Compliance” survey and keep apprised of Fasoo sponsored NYDFS events, please register here.

 

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