April 12, 2011
ABA extended its endorsement with Trustwave, a leading provider of information security and compliance solutions, to include a data security suite that helps protect financial institutions from insider threats and abuse of proprietary and sensitive information. The ABA endorsement is made through its affiliate, the Corporation for American Banking.
ABA’s endorsement of Trustwave DataControl offers ABA members access to a unique solution that integrates data leakage prevention with Smart Tag encryption. Smart Tags contain encryption and protection policies that stay with data as it travels from device to device, so data is consistently protected at all times and wherever it goes. Trustwave DataControl discovers where sensitive data resides across the organization based on criteria set by the financial institution, and then protects the discovered data by encrypting it.
Trustwave Smart Tag technology provides a simplified and more effective approach to encryption due to its focus on protecting the data itself--not the devices to which data is saved or the networks over which the data travels. This type of persistent enforcement ensures sensitive information is always protected and only visible to those with appropriate credentials.
The program will provide banking institutions of all sizes with multiple service levels to track and control the flow of sensitive information. Financial institutions can work with Trustwave to monitor desktops, servers and file shares using Trustwave DataControl to avoid leaking sensitive financial information.
“Banking institutions are high value targets, and in turn, it’s critical to know where sensitive data resides and who has access to it,” said Robert J. McCullen, chairman and CEO of Trustwave. “By implementing Trustwave DataControl, encryption policies protect critical assets from unauthorized access reducing the potential for data leakage, compromise and brand damage.”
Historically, addressing the risk presented by suspect employees or insider activity at banking institutions has focused on combating fraudulent behavior aimed at the financials of the bank and its customers. While the risk of exposure of nonpublic information has always been present, the advent of blogs, social media and open web forums has created a nurturing environment for the leakage of sensitive information.
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