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The shift to digital experiences and customer service in industries that were historically only brick-and-mortar underscores how rapid digitaltransformation expands the attack surface for cybercriminals. All the new points of sale (POS) and customer touchpoints increase the access points that bad actors can exploit.
What Is Encryption Key Management? To keep data safe, it is encrypted and decrypted using encryption keys. Types of Encryption Keys. There are two main types of encryption keys : symmetric and asymmetric. Symmetric key encryption uses a single key to both encrypt and decrypt data. brooke.crothers.
Thales OneWelcome Identity Platform and HIPAA Compliance in 2025 madhav Wed, 03/19/2025 - 05:58 The Health Insurance Portability and Accountability Act (HIPAA) has undergone significant changes in 2025, introducing enhanced requirements to address growing cyber threats and ensure comprehensive data protection.
The cybersecurity regulations apply to entities overseen by the NYDFS, such as financial institutions, insurance companies, agents, and brokers, as well as banks, trusts, mortgage lenders and brokers, money transmitters, check cashers, and other related businesses.
Insurance, a study in Stagnation The insurance industry remained stagnant in consumer trust, securing only 24% confidence in 2025unchanged from 2024. While insurers benefit from regulatory oversight like the banking sector, persistent friction points like opaque claims processes and intrusive data collection eroded goodwill.
PKI and digital certificates were pivotal in the formation of the commercial Internet, maturing in parallel with ecommerce. Digital certificates get issued publicly, by a CA, or privately by an individual company for users and servers. This is how we authenticate human and machine identities and move encrypted data between endpoints.
The Health Insurance Portability and Accountability Act (HIPAA), enacted in 1996, established national standards to safeguard sensitive patient health information (PHI) and prevent unauthorized disclosures. Encryption of ePHI : Protecting electronic health information, even if its intercepted.
Some of the most important are Gramm-Leach-Bliley Act ( GLBA ), the National Association of Insurance Commissioners ( NAIC ) Data Security Model Law, the New York Department of Financial Services ( NYDFS ) Cybersecurity Regulation, and the National Credit Union Administration ( NCUA ) cybersecurity guidance.
Ransomware is a type of malware that encrypts a victim’s computers, blocking use of the device and all access to their data. Cyberattackers essentially act as hijackers, demanding a ransom payment in exchange for the encryption key to unlock the data. 1 In fact, ransomware is the most common cyberthreat that SMBs face. What it is.
For too long, Identity and Access Management (IAM) has played a background role—a fundamental but ‘invisible’ part of digitaltransformation. It follows us from birth, weaving through every milestone and daily activity—from earning a degree and joining the workforce to booking travel or filing an insurance claim.
These were just some of the major facets of cloud transformation that are creating challenges for data security that I discussed with Sunil Potti, Vice President and General Manager, Google Cloud in a recent Thales Security Sessions podcast moderated by Neira Jones. The digitaltransformation “mega trends”.
67%_of malware was delivered via encrypted HTTPS connections. Unfortunately, if potential ransomware targets are known to be insured, the attackers assume that they will most probably be paid. The EU researchers uncovered the following insightful information: 13%_increase in Windows malware detections at business endpoints globally.
Digitaltransformation is changing the way we live and work, both in India and around the globe. DigitalTransformation is Well Underway. Banking, financial services, media, insurance, and e-commerce companies have the lead in transformational initiatives in India.
” Cyber Insurance No Longer Reliable. ” Crockett said unofficial numbers indicate that only about 10 percent of such cyber insurance claims are paid out. ” Crockett said unofficial numbers indicate that only about 10 percent of such cyber insurance claims are paid out. “And the war can be multi-pronged.
Initially, these attacks involved malicious software that encrypts a victim’s data, rendering it inaccessible until a ransom is paid to the attackers. The increased frequency and volume of attacks has also seen cybersecurity insurance premiums soar and spending on cybersecurity measures skyrocket.
The potential future compromise of classical encryption methods and "harvest now, decrypt later" (HNDL) attacks is seeing interest in post-quantum cryptography soar (72% in the financial services sector vs. 68% overall). To dive deeper into the report findings, download the Thales 2024 Data Threat Report: FinServ Edition.
New EU restrictions could force companies to change data transfer practices and adopt more advanced data encryption methods. Beyond this we also have Payment Card Industry (PCI) standards, Health Insurance Portability and Accountability Act (HIPAA), the California Data Privacy Act (CCPA) and much more. In the Dec. In the Dec.
In this episode of the podcast (#117), we go deep on one of the hottest sectors around: cyber insurance. In the first segment, we talk with Thomas Harvey of the firm RMS about the problem of “silent cyber” risk to insurers and how better modeling of cyber incidents is helping to address that threat. Read the whole entry. »
According to the Insurance Information Institute , there was a 45-percent increase in identity theft in 2020, and the rapid digitaltransformation that took place during 2020 would not have helped improve this figure. because a person’s most critical information could potentially be exposed.
The Health Insurance Portability and Accountability Act (HIPAA), enacted in 1996, established national standards to safeguard sensitive patient health information (PHI) and prevent unauthorized disclosures. Encryption of ePHI : Protecting electronic health information, even if its intercepted.
Different industries and regions have specific regulatory requirements, such as the General Data Protection Regulation (GDPR) for data protection in the EU, the Health Insurance Portability and Accountability Act (HIPAA) for healthcare information in the US, and the Payment Card Industry Data Security Standard (PCI-DSS) for credit card information.
In today’s digitally driven world, in which businesses heavily rely on computer systems and the information living within such systems, the importance of cybersecurity cannot be overstated. A cybersecurity plan must include policies and procedures – and methods of both implementing them and testing that they are being enforced.
Think about your local insurance broker or a small medical practice. Many vendors claim they provide B2B capabilities simply because they support federation. The reality is: Not all of your partners have an identity provider (IdP) to federate with. They probably arent running their own IdP. You dont trust every partner the same way.
The cybersecurity regulations apply to entities overseen by the NYDFS, such as financial institutions, insurance companies, agents, and brokers, as well as banks, trusts, mortgage lenders and brokers, money transmitters, check cashers, and other related businesses.
In today’s digitally driven world, in which businesses heavily rely on computer systems and the information living within such systems, the importance of cybersecurity cannot be overstated. A cybersecurity plan must include policies and procedures – and methods of both implementing them and testing that they are being enforced.
The digitaltransformation has changed how the world does business. Digitaltransformation can and does deliver increased efficiencies, improved decision-making, lower costs, improved reach, and higher profits. Encryption and Tokenization. Financial Services.
For too long, Identity and Access Management (IAM) has played a background role—a fundamental but ‘invisible’ part of digitaltransformation. It follows us from birth, weaving through every milestone and daily activity—from earning a degree and joining the workforce to booking travel or filing an insurance claim.
Once thought unbreakable, traditional encryption faces an existential threat from quantum processors that can theoretically solve complex equations in mere moments. Adversaries are collecting encrypted data ranging from sensitive transactions and patient records to government communicationsand storing it for future decryption.
ExtraHop’s finding vividly shows how, as digitaltransformation ramps up, companies really have no clue what moves back and forth, nor in and out, of their networks on a daily basis. But ExtraHop noticed that the tool also opening encrypted connections to vendor-owned cloud storage, a major HIPAA violation.
Thales is participating in a security session titled “Solutions for Protecting Your Data and Meeting Compliance Using Encryption,” hosted by Il-Sung Lee, Cloud Security at Google, and Sol Cates, Principal Technologist at Thales. On 26 October , we co-host a workshop on cybersecurity insurance with Infinigate. Find more details here.
Click here to watch the roundtable and learn about the future of cyber insurance from leading experts. In partnership with Cysurance, BlastWave hosted a roundtable entitled “The Future of Cyber Insurance and MSP Insurability. The expert panelists held an honest discussion about insurability difficulties for MSPs.
Insurance, a study in Stagnation The insurance industry remained stagnant in consumer trust, securing only 24% confidence in 2025unchanged from 2024. While insurers benefit from regulatory oversight like the banking sector, persistent friction points like opaque claims processes and intrusive data collection eroded goodwill.
Some of the most important are Gramm-Leach-Bliley Act ( GLBA ), the National Association of Insurance Commissioners ( NAIC ) Data Security Model Law, the New York Department of Financial Services ( NYDFS ) Cybersecurity Regulation, and the National Credit Union Administration ( NCUA ) cybersecurity guidance.
Having been obliged to shift to digital, mobile and online channels – for services ranging from grocery shopping to medical consultations – citizens are sticking with them as a matter of choice. For governments, this profound behavioural change can now be harnessed to advance their digitaltransformation agendas.
The healthcare industry has witnessed a rapid digitaltransformation, with hospitals, clinics, and medical practices relying heavily on technology to store and manage patient data, streamline operations, and improve patient care. Patient records, insurance information, and intellectual property are just a few examples.
In the financial industry, this effect has been accentuated by rapid digitaltransformation, which has seen a huge number of new players enter the financial ecosystem. Encryption Data Security Michel de Jong | Regional Sales Manager, IAM More About This Author > Schema
Some see this as a catalyst for the so-called digitaltransformation. Randy Skopecek, Solutions Architect, PLM Insurance Co. Encryption. Encryption Key Management. The past year has fuelled this trend, as companies have been forced to improve their remote work capabilities. Key management. Data security.
Our OneWelcome Identity Platform (for CIAM) and SafeNet Trusted Access (for workforce) deliver flexible, SaaS-first offerings that cater to diverse industries like banking, insurance, and media across North America and Europe.
Accelerate your DigitalTransformation: Data privacy and governance programs enable you to secure data and establish the framework for digitaltransformation. Better Insurance Rates: Cyber insurance providers include data security in their actuarial analysis.
Our OneWelcome Identity Platform (for CIAM) and SafeNet Trusted Access (for workforce) deliver flexible, SaaS-first offerings that cater to diverse industries like banking, insurance, and media across North America and Europe.
Full deployment will take time, and with some estimates of 'Q-Day' (quantum computers ability to break current encryption standards) arriving within the next decade, organizations will need to lean in to avoid getting caught off-guard.
Be in control of your encryption keys and their location, and how to control access to your sensitive data and digital services to comply with emerging data sovereignty requirements. By attending our live sessions at the Thales booth, you will learn how to: Discover and classify your data wherever it resides.
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