Blog Detail

Advantages Of Encryption

Modern businesses are storing and managing the majority of their personal and confidential information online in a cloud with an uninterrupted connection to the web. This makes it nearly impossible to conduct business in a way that keeps your company's data from falling into the wrong hands. The reason why businesses are incorporating encryption into their cloud data security plans is to keep their data private and safe, no matter its location.

Companies that have yet to realize the benefits of cloud computing in business are beginning to learn that to make cloud storage safe, their network must be heavily encrypted. This does not mean that your business needs government or military-grade encryption, though you need to employ encryption solutions that can better protect your network data. Here are a few cybersecurity tips that showcase the importance of encryption and how your business can use cloud computing to its advantage without incurring too many risks from malicious threat actors.

What Is Encryption?

Encryption is a process that encodes information so that it is unreadable unless decrypted by someone with knowledge of the decryption key. Encryption can be as simple as changing letters around, adding advanced computer algorithms that need a key to be deciphered. The actual encrypted message is considered plain text, while the message in its indecipherable form is considered ciphertext.

 

How Does Data Encryption Work?

Data encryption works in the same way that a key works with a lock. When someone tries to break into a building an effective door and locking system can be a great deterrent. With a key, entry is as simple as putting it in and twisting. But a person without a key must find a different way into the building.

With data encryption, the "decrypting key" is vital. The person with the key is the person who is supposed to unlock the meaning of the text. For an example of how encryption works, take the word "credit." To encrypt the word credit, you could use a simple replacement code. The letters "ikpqvb" could be the encryption used. The problem with this is that a simple replacement code is too simple for other computers since there are only 26 possibilities that each letter could be.

 

To make this code more difficult to crack, coders began using a "shifted" alphabet so that rather than 26 possibilities for each letter, there could be hundreds or thousands of possibilities. The key would be made, based on each letter given a numeric value. This worked well until computer programmers caught on and figured out how to crack these codes.

In the digital age, these encryptions continually grow in their randomness and effectiveness. With numeric binary code, rather than letters and cryptographic algorithms coming into play, information can be kept very safe. As you can tell, however, the encryption must stay ahead of a hacker's ability to break a code.

 

Multiple Approaches to Encryption

Taking multiple approaches to encryption is vital because there are so many different ways that information is given online during the payment security process. The encryption application must be placed at the right point in the payment process and this could be different depending on the type of payments a company receives.

For instance, Session Encryption is important if the information is being passed throughout the e-commerce process. While a person is shopping on a company's site, their information is stored on a server during that process. The actual gateway of communication between the customer and the company should be encrypted so that data cannot be stolen en route.

Actual "Data Encryption" is the obvious approach to encryption. It is important because the actual information that is being passed needs to be encrypted in case it is stolen en route to the server. Every word and every number should have high-level encryption so that a person's private information is kept secure.

One of the most effective methods for devaluing and securing credit card account data is called tokenization. This is when a credit card number is "replaced" with encryption tokens or placeholder numbers for the duration of the payment process. The real number is given, to begin with, but that number is immediately stored in a high-security vault and then replaced with the "token numbers." The real number is then only in play for a moment before being replaced. 

 

Benefits of Data Encryption 

 

1- Encryption helps you meet regulations

Cardholder data and personal information have always been protected, but laws are getting more stringent every year. As the world becomes increasingly digital, new regulations are needed to keep up with the trend. While not all standards mandate encryption, including encryption security as part of a multi-pronged approach to processing payments securely and following PCI DSS Standards is the best strategy for keeping information private.

2- Encryption delivers assurance that your data is safe

Working with a solution provider that leverages encryption to protect cardholder data is a great way to protect yourself and your clients. Payment solutions that leverage encrypted point-of-interaction devices and the security software of a service shield the solution provider and merchants from handling clear-text cardholder data. This can greatly reduce the scope and complexity of a PCI-DSS assessment.

3- Encryption and PCI Compliance

The principles of PCI DSS are vital. There are six major principles or goals that ISVs should strive for to accomplish PCI compliance:

  1. Build and maintain a secure network
  2. Protect cardholder data
  3. Maintain a vulnerability management program
  4. Implement strong access control measures
  5. Regularly monitor and test networks
  6. Maintain an information cyber security policy

While the PCI data storage standard is comprised of 12 requirements, the previous six principles will help a company accomplish them.

Contact Six Industries Inc today to get started.

 

Copyright 2022 Six Industries Inc. Designed By Matech Solutions BPO