Data Loss Prevention Market Grows in Russia
Posted by skyhighnetworks on June 24th, 2014
Data security breaches pose a grave threat to enterprises. Companies can decrease their risk levels by leveraging solutions such as data loss prevention. According to Willow analyst, Steven Elman, “Many companies are enforcing data loss prevention policies, specifically for outbound traffic. Due to the rising trend in cloud services usage, enterprises should look into expanding their access control and data loss prevention enforcement to data stored in the cloud”.
According to a Gartner CISO survey, data loss prevention has been one of the biggest priorities for enterprise security since 2012. Data Loss Prevention is typically defined as “any solution or process that identifies confidential data, tracks that data as it moves through and out of enterprise and prevents unauthorized disclosure of data by creating and enforcing disclosure policies”, Gartner says.
Since confidential data can reside on a variety of computing devices (physical servers, virtual servers, databases, file servers, PCs, point-of-sale devices, flash drives and mobile devices) and move through a variety of network access points (wireline, wireless, VPNs, etc) there are a variety of solutions that are tackling the problem of data loss, data recovery and data leaks.
Furthermore, The Central Bank of Russia (CBR) has suggested that credit institutions manage surveillance of employee internet activity to prevent data leakage. Banks and other enterprises in Russia find data loss prevention to be incredibly valuable, as they help prevent the exposure of confidential customer data. Consequently, the data loss prevention market in Russia is now worth around $50 million, with almost $15 million (30%) coming from the financial sector, says Vsevolod Ivanov, the chief executive of Info Watch. Ivanov believes the potential for data loss prevention is to 4x its current users, or increase 5x within the 3 years with the establishment of new industry standards. These figures are supported by analysts at Gartner, who forecast the data loss prevention market to be worth $830 million by the end of 2014. This figure signifies 25% increase in market valuation compared to the previous year. Furthermore, to prevent the loss of valuable data, banks will be allowed to utilize surveillance software for data loss prevention (DLP), according to the Russian Daily. Once installed on employees’ computers and corporate servers, the software will allow the company to oversee user activity and check browser histories.
Furthermore, Krisztián Egerszegi, CEO of the Compliance Data System Ltd, states, “Data Loss Prevention (DLP) was the technology that we used first in Hungary in 2009, with the help of our partner Symantec. Symantec has remained one of our important business partners, but we provide the security systems of other big companies as well.”
In summary, data loss prevention enables banks, credit card companies and credit institutions to effectively protect their sensitive data such as customer information, account records, intellectual property and financial data.
Author :
Skyhigh Networks, the Cloud Security Services company, enables companies to embrace Cloud Security Services with appropriate levels of security, compliance, and governance while lowering overall risk and cost. With customers in financial services, healthcare, high technology, media, manufacturing, and legal verticals, the company was a finalist for the RSA Conference 2013 Most Innovative Company award and was recently named a "Cool Vendor" by Gartner, Inc. Headquartered in Cupertino, Calif., Skyhigh Networks is led by an experienced team and is venture-backed by Greylock Partners and Sequoia Capital. For more information, visit us at http://www.skyhighnetworks.com/cloud-data-loss-prevention/ or follow us on Twitter@skyhighnetworks.
