Achieving Better Security
According to the FTC, more than 9 million Americans have their identity stolen each year. Over $1.2 billion dollars were lost due to fraud in 2007. With the industry transforming into a paperless environment products and processes rolled out on a tight deadline and increasing volumes of client information collected, attackers have more and more opportunity to find any holes left open.
It is every company's responsibility to ensure that their third party vendors will not lose their data. You need a partner who understands the evolving threat landscape. When looking for a partner for any transaction processing, be sure you look at these important areas of security:
- Strong website security - Make sure the website and external network is well protected. The site should use HTTPS protocol with at least 128 bit encryption to encrypt data between the browser and site. A scheduled penetration testing should be performed regularly by a third- party vendor.
- Data security - The vendor should be securing and encrypting pieces of sensitive data.
- Access control management - Access to protected information must be restricted to users with authorized access.
- Change control management - Use a formal process for directing and controlling alterations to the information processing environment.
- Disaster recovery planning - What happens when the worst happens? To keep your business flowing, the company must know how to recover when disaster strikes. This includes using uninterruptible power supply (UPS) and backup generator to keep systems online in the event of a power failure. The company should also create daily backup files.
- Network security - The network infrastructure should have a strong firewall and proxy to restrict unwanted access. Your third party provider should also have a quality patching program and run up-to-date antivirus on all systems.
- Physical security - Strong security methods should be used including video camera systems and badge access.
You must account for each piece of this puzzle as attackers will continually try to find the weak point. Title Source continually monitors and tests each area listed above. If you'd like more information on our security experts, please contact your Account Executive/Manager.
Please note: We will have shortened business hours (7:30AM - 5PM) Wednesday December 24th and Wednesday December 31st. We will maintain regular office hours (7:30AM - 7PM) Friday, November 28th and December 28th.
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