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.
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