As per a report by IBM Security, data breaches are costing enterprises a whopping amount of $3.86 million on an average. What’s even worse is that the problem takes around 280 days to discover.
Hackers have the ease of identifying and accessing corporate as well as personal information. They use this data for file transmission from one device to another-whether on a mobile phone or desktop. And, that’s the reason it is vital to have cybersecurity measures in place. One such way to protect your data from getting into the wrong hands is end-to-end encryption.
End-to-end encryption is the process of encrypting data and information as it passes on from one device to the other. With this technology, only the sending and receiving devices can see the data contents. Yes, no additional interceptors can decrypt the message, except high-profile agencies. Know that this approach helps in implementing protection in many business areas.
“The total number of records compromised in 2020 exceeded 37 billion, a 141% increase compared to 2019 and by far the most records exposed in a single year since we have been reporting on data breach activity.”
–Risk-Based Security 2020 Year-End Report
Now that you’re aware of the importance of having end-to-end encryption, you must know how it helps different spheres.
By having end-to-end encryption, details like significant locations and timestamps and private communications cannot be easily read. No one can decode the information even if read by hackers or service providers like Apple and Google.
Enabling E2EE, corporations are sure that their privacy prevails and the consumer data is under apt protection from the view of outsiders.
In the security setups, users have the ease of gaining access to a piece of data to manipulate its contents. Yes, this unauthorized process takes place even before it reaches the recipient. What’s even worse is that hackers can stop the delivery entirely.
End-to-end encryption also means that the malicious actors do not have access to data in transit. Thereby, the data integrity is well-maintained.
Avoiding Reputation Damage and High-Cost Attacks
One of the most significant data breaches that took place in history was Yahoo’s 2013 breach. Reports suggest that this attack compromised 3 billion users. Although Yahoo claims that there was no compromise of data during the process, experts believe that Yahoo’s easy-to-crack and outdated encryption was the reason for this.
In circumstances like these, numerous software comes into play. Government agencies step in to find fraudulent activities by capturing data using Cell Phone Forensics Software and dig critical evidence. They develop actionable data to help with your case.
With this attack, the hackers significantly tarnished the company’s reputation. It also brought about damage to its negotiation with significant businesses.
Sensitive Data Exchanges
Whether it’s about sharing sensitive government intelligence data or high-profile M&A transactions, end-to-end encryption is a sure-short solution. Using new-fangled technologies, agencies can discover fraudulent activities. No one except the sending and receiving parties is capable of spreading sensitive information.
Well, the reasons for this are two:
- The critical system prevents unauthorized devices from accessing the message.
- If users accidentally come across the news, the end-to-end encryption makes it indecipherable.
The Bottom Line
Data breaches are known to cost enterprises and other organizations big time. But, if the case gets beyond the company’s control, renowned agencies like the government, forensics step in with well-established software. Therefore, it is pretty safe to say that end-to-end encryption is a valuable security investment.