Using Tokenization for Superior Data Security

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Compliant Outsourcing

While it has become relatively common practice to outsource or offshore certain business processes to reduce operational costs, many businesses looking to take advantage of the financial rewards promised are fearful of violating data residency laws and concerned about the safety of cloud computing. Using tokenization to de-identify and protect sensitive information before it leaves an enterprise opens a legal and secure pathway for organizations to offshore and outsource data to reduce costs and gain business insight.

With the launch of ApplePay for secure online and mobile payments, tokenization has become a hot topic in data security right now. Born from a need to secure PCI data, tokenization technologies substitute real data with fake data or a 'token' that has no value to a thief.

Tokenization can be used to de-identify any structured sensitive information, as defined by PCI DSS, HIPAA and NIST and others, such as credit cards, names, social security numbers, addresses, and any other PCI, personally identifiable information (PII), or protected health information (PHI) data. Tokens have the same appearance as the data they replace, meaning they can be used for processing and analytics in existing systems with minimal modification. Recent statistics from CSIS put the cost of breaches last year at around $400 billion with over 100 million people affected globally.

As data creation continues exponentially, the cost, risk and sophistication of breaches increase, and laws governing data security are debated and reformed globally, all industries are fast turning to tokenization to secure their data. But not all tokenization is created equal. Modern vaultless tokenization delivers the most secure, transparent and flexible solution with the greatest ROI to organizations looking to protect and realize the value in their sensitive and customer data. In this slideshow, Protegrity explains five characteristics of tokenization that every organization can benefit from.

 

Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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