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Cybercrime has increased by 175% since 2022. This highly vulnerable digital landscape is a wake-up call for businesses to be more intentional about data security measures. Organizations cannot undermine the importance of protecting their operations, especially as cybercriminals become more tech-efficient. This article outlines five best practices for data encryption that every financial institution should adopt to secure its assets, uphold client confidentiality, and ensure compliance with industry regulations. Read more to learn how to encrypt your data and secure your financial future. The Importance of Encryption in Finance Confidentiality Obligations Financial advisors handle sensitive client data, including bank details, identity information, and investment portfolios, which they are legally required to keep confidential. Encryption ensures that this information remains

The treacherous, binary ways of open-source software have switched courses over time. On the one hand, the percentage of open-source malware intrusions has gone down. However, the number of incidents where developer secrets and other sensitive information have leaked has increased by 12% . For B2B companies, one data breach can result in paralysis, loss of intellectual property, or damage to client trust. These problems can cost millions of dollars and take a long time to fix. Regulatory frameworks are also changing rapidly. The Digital Personal Data Protection Act of India , the General Data Protection Regulation of Europe , and the new USA rules for AI propose much stricter compliance standards. These laws demand transparency and accountability, while imposing significant penalties for non-compliance. In the meantime, implementing artificial intelligence still increases innovation