InfoWatch, Russia’s leading Data Loss Prevention (DLP solutions provider with over 50% market share, comes to Malaysian shores to share vital information with highly regulated industries such as banks and other financial institutions, and other sectors that deal with sensitive data.
Data loss prevention (DLP) is a strategy for making sure that end users do not send sensitive or critical information outside the corporate network. In data leakage incidents, sensitive data is disclosed to unauthorized personnel either by malicious intent or inadvertent mistake. Such sensitive data can come in the form of private or company information, intellectual property (IP), financial or patient information, credit-card data, and other information depending on the business and the industry.
Some of the vital key findings and results on DLP were presented such as during the first half of 2013, 496 leaks of confidential information were registered in the media and detected by InfoWatch Analytical Labs worldwide. The figure is 18% higher compared to the same period last year. More than 258 million records were compromised, including those containing financial and personal data.
«The losses incurred by companies as a result of data leaks during the first half of 2013 alone amounted to USD3.67 billion. This figure is based on media reports that include the cost of mitigating the impact of leaks, legal investigations, compensation payments and others», – said Natalya Kaspersky, CEO of InfoWatch Group of Companies and co-founder of Kaspersky Lab while addressing various industry key management personnel.
She added that it is literally unheard of today for highly regulated industries and sectors that deal with sensitive information to not use the Internet platform for their businesses, and many may not have placed enough emphasis on internal threat.
«We live in a digital world where everything is connected, and it has become more crucial than ever to acknowledge data leakage as a risk that threatens different sectors both public and private.»
«While it is important for banks, other financial institutions and various sectors such as telecommunication and insurance that keep a database of sensitive information, customers too need to be aware what is DLP and be able to ask their service providers if their information is secure», – shared Kaspersky.
She said that looking at the global losses reported in the media, it makes good business sense for industries to adopt DLP, especially as it recognises that losses incurred not only tarnishes the reputation of the organization, but facing the loss of confidence from various stakeholders such as customers and shareholders.
InfoWatch penetrated Malaysia as one of the first countries in Asia with its revolutionary DLP solution. It was highlighted that Malaysia was a choice market as the country boasts one of the most advanced infrastructures in the world and is home to a number of regional technological hubs, making it an ideal location to host this event and start the discussion of information security.
InfoWatch was founded in 2003 as a spin-off from the successful Kaspersky Lab and has matured into the leader of the Russian data security market. It occupies over 50% of the Russian market of data leakage prevention software and is rapidly expanding its presence in the international markets of Europe, Middle East and Asia. InfoWatch is headquartered in Moscow, Russia.
