In an era where online transactions have become pervasive, the defence and other industries face unprecedented challenges in securing sensitive and confidential data. With essential activities like online banking, e-commerce, and investment relying heavily on technology, the volume of financial transactions has escalated, elevating the importance of ensuring the security of these exchanges.
However, the landscape of threats has become highly complex, characterised by resolute and well-financed and extremely motivated adversaries armed with sophisticated tools. This has reached a juncture where companies now accept that when it comes to cyber-attacks, is not a question of “if” but rather “when”, and “how often”.
To counteract these evolving threats, an increasing number of defence and other enterprises are turning to encryption technology to safeguard their financial transactions and protect sensitive data, whether at rest or in transit. Encryption acts as a formidable safeguard, ensuring secure communications and shielding information from third-party interference. Using mathematical algorithms, encryption transforms data into an unreadable format, thwarting the scrutiny of malicious actors and potential threats.
The defence and other industries have identified significant value in the diverse applications of encryption technology. It plays a pivotal role in securing online banking transactions, mitigating credit card fraud, safeguarding digital signatures in fund transfers between accounts, and fulfilling other crucial functions integral to defence operations. Implementation of encryption not only protects sensitive company and financial information from threat actors but also aids companies in adhering to strict regulations such as the Protection of Personal Information Act (POPIA) or the General Data Protection Regulation (GDPR).
To delve deeper into the intricacies of encryption and explore how defence businesses can leverage its advantages to safeguard financial transactions, Altron organized a webinar on 20 June 2023 with the theme, “Encryption: Shielding financial transactions and confidential data from prying eyes.” During the event, industry experts elucidated on how data encryption plays a pivotal role in ensuring companies adhere to data privacy regulations. The experts highlighted the advantages of embarking on an encryption journey, delving into recommended regulations concerning data encryption and sharing best practices. Moreover, they explored why data encryption has evolved into a critical component of the security landscape, addressing the unique challenges faced by entities in integrating data encryption into their business operations.
The Crypto Division within Altron Systems Integration brings world-class technology and leading practices through our partners to architect, implement, and support sustainable Information Security business solutions for the all sectors.