Breaches spur data encryption.With reports of security breaches and data losses occurring on an almost weekly basis, companies are increasingly adopting data encryption data encryption, the process of scrambling stored or transmitted information so that it is unintelligible until it is unscrambled by the intended recipient. Historically, data encryption has been used primarily to protect diplomatic and military secrets from foreign technology that many previously avoided, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Enterprise Strategy Group, a storage market research firm. In the past, companies considered data encryption of backup tapes See tape backup. to be too costly and technologically challenging. The report found that only 6 percent of financial service companies and 7 percent of other businesses encrypt their backup tapes. Most companies create backup tapes of computer data and store it with a third party in the event of a disaster. There are no existing laws that require companies to encrypt data on backup tapes, but Rep. Ed Rep. abbr. 1. representative 2. republic 3. Republican Markey (D-Mass.) has spoken in support of amending the Gramm-Leach Bliley Act to require encryption. After experiencing large data breaches, Time Warner and CitiFinancial have each pledged to adopt data encryption technology, and Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. has opted to eliminate backup tapes where possible and transition to computer-to-computer data transfer. |
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