Data encryption means securing information by converting it into a scrambled form that can only be accessed with a specific key. Hence, encryption makes it difficult for hackers to access or understand the data. Even during a data breach, encryption adds another layer of security to an institution’s private data, even if malicious actors bypass firewalls.
Given businesses’ increasing collection of private user data, corporations must encrypt all the data they possess. This preventive measure effectively prevents unauthorized agents from accessing and exploiting confidential information, thus ensuring the safety and integrity of the entrusted data. This blog will discuss the importance of data encryption in cybersecurity.
Types of Data Encryption
Encryption in Transit
Data encryption in transit refers to securing data while it is being moved between devices or systems over a network. Encrypting the data during transportation protects it from unauthorized access and potential theft through attacks such as packet sniffing and man-in-the-middle (MITM).
Encryption at Rest
Encryption at rest protects data stored or inactive in a device, like a hard disk, database, or cloud storage. This technique ensures that the data remains secure, even if the system or device is physically compromised or lost, by making it unreadable to unauthorized individuals. Simply put, encryption at rest keeps data safe when it’s not actively being used.
Encryption in Transit vs. Encryption at Rest: Which is Better?
Implementing at-rest and in-transit data encryption is crucial to ensure maximum protection. Relying solely on encryption for data stored on disks while neglecting network encryption can lead to different consequences. Without network encryption, hackers can exploit vulnerabilities in the network traffic to gain access to your data stored on disks. This can put your data at significant risk. That’s why it’s essential to have comprehensive encryption measures in place to safeguard your data in all scenarios.
Why Should Companies Invest in Data Encryption?
Cybersecurity threats are increasing every year, with more sophisticated attacks targeting information. Data encryption plays an inevitable role in cybersecurity by protecting data and systems. It is a highly effective tool that prevents malicious individuals from accessing and making sense of important information. Even if attackers breach your system, encryption ensures they cannot see or use the data without the encryption key. Here are six key reasons why companies should invest in data encryption.
Protecting Intellectual Property
Data encryption is essential for customer data and safeguarding valuable intellectual property, trade secrets, and proprietary information. Encryption ensures that critical business data remains confidential and inaccessible to unauthorized individuals, protecting a company’s competitive advantage and innovation.
Data in Transit is at Risk
Data in transit is vulnerable to hackers who can quickly attack communication channels and capture information. Data encryption prevents confidential data from being stolen during transit by protecting it from extraction techniques.
Mitigating Financial Losses
Data breaches can lead to significant financial losses, including direct costs such as legal fees, remediation efforts, and compensation to affected parties, as well as indirect costs like reputational damage and loss of business. Data encryption reduces the risk of data breaches, mitigating potential financial losses.
Emerging Cybersecurity Threats
In the ever-evolving cybersecurity landscape, attackers continuously seek ways to breach even the most robust defences. Hence, encryption is essential to safeguard corporate data. It renders sensitive information inaccessible to attackers, ensuring data remains protected, even if firewalls are compromised.
Safeguarding Customer Trust
Data breaches can severely damage a company’s reputation and erode customer trust. By investing in data encryption, companies demonstrate their commitment to protecting customer information, enhancing trust and confidence in their brand.
Any Business Can Get Hacked
Competition drives companies to target rivals’ private data for strategic advantage, fueling the hacking industry. Data encryption prevents unauthorized access, rendering sensitive information ungraspable without the encryption key. Safeguarding vital data from online attackers necessitates robust measures, including encryption. Regardless of how big or small your business is, you can get hacked anytime.
Gaining unauthorized access to someone’s network allows hackers to reach private data and files belonging to individuals or companies. Cybersecurity aims to preserve the integrity of users’ data and protect devices from external malicious attacks. Data encryption is a crucial and essential component of cybersecurity. To ensure data security, consider contacting Green Method, a prominent UAE-based cybersecurity solutions provider. Our comprehensive range of cybersecurity solutions offers robust protection for your business. With our top-notch services, you can rest assured that your business will be able to take the next step in protecting itself against data breaches and other malicious activities. Get in touch with Green Method to know more.
