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For many business owners, the words encryption and cryptographic algorithm seem to come straight out of a spy movie and are challenging to difficult to learn in order to protect their sensitive business data. Although the actions accomplished through encryption are scientifically rooted, it’s not necessary to be a technology genius to encrypt and protect critical business documents and financial information. New software developments are simplifying the technology associated with encryption to make it possible for even the smallest business to protect their data


Encryption – The Definition

The word encryption comes from the Greek word kruptos, which means hidden. Encrypted words are converted into code that needs a key before it can be read. Simply defined, encryption is a method of encoding (blocking) critical business documents and information to prevent unscrupulous cyber criminals from gaining access to sensitive data, while still allowing access to authorized individuals by use of a decryption algorithm and a key. Encryption is the barbed wire fence keeping the hackers from accessing your valuable property. Encryption is not new technology. For decades the military has used it to convey vital and secret communications.


Encryption – Keep It Classified

From servers, to intranets, to personal computers, to high-end laptop computers, most of today’s latest technology devices are designed with encryption features. Additionally, many manufacturers of storage and tape backup devices are including encryption capabilities. Business email often contains sensitive data related to client accounts, and encryption is essential for business email protection. According to Ingrum Putz of Voltage Security Inc., “Standard e-mail has the security of a postcard.” Business email often contains sensitive legal, financial, and client information, it’s critical to secure the integrity of your company’s email with encryption software that encodes all information coming in or going out of the business.

Encryption – How It Works
There are two primary types of encryption methods called schemes. Symmetric (private-key) encryption engages a secret key that is the same for both the sending and receiving parties, while asymmetric (public-key) encryption uses two keys. The receiver’s key is secret, while any number of senders can use the public key. Encryption can protect “resting” data, as well as data in transit. There is a global cyber crime epidemic underway, and the theft of information, identities, and intellectual property is of major concern. Cyber thieves confiscate data from laptops, mobile devices, flash drives, and backup tapes, and a business cannot take the risk of ignoring the need for security and encryption.

Encryption – Identity Theft
It seems the news names Fortune 500 companies as the frequent victims of cyber criminals, but many small companies fall victim to the same criminals. Privacy regulations are getting stricter all the time. Considering that hackers have stolen over 54 million identities, there is no reason for any business large or small to not have encryption security in place. Many larger businesses will not contract to work with smaller companies that do not put strict security measures in place.

While we look to cyber thieves as the primary parties responsible for information theft, there are also employees who have no concern about stealing information from their employers. Your encryption security plan must be part of a complete security program that protects your sensitive business information from the outside and from the inside as well.