Compliance with protection against data loss

In time to help financial services companies meet exceedingly rigid “Red Flag Rules” for protection against data loss, Utimaco unveiled SafeGuard PortProtector 3.30, which gives IT and security managers visibility into where critical data and files are transferred and to whom.

SafeGuard PortProtector now enables file shadowing, thereby tracking copied files moved to or from any form of removable media. Collected shadow files are stored compact and securely on a central server and are available for review by authorized administrators. Security breaches can be identified immediately and evidence collected against any potentially malicious insider.

The new version also features enhanced load balancing and fine tuned role-based administration options that allow multiple administrators to direct security policies for the enterprise, giving customers increased flexibility in managing their data leakage protection strategy.

According to the Red Flag Rules, all financial institutions and creditors must provide written proof to federal regulators that they have a rigorous identity theft prevention program in place to detect and prevent identity theft associated with the opening of new customer accounts. With an increased emphasis on authentication, these new compliance mandates are especially challenging for customers who are unable to track what content has been placed by whom and on what device. Essentially, it’s impossible to know if data has fallen into the wrong hands if it cannot be tracked.