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Individuals and SMEs (SMEs) are looking for financial services to help them invest in the economic future. Managing funds and managing financial risk is what these financial experts do, but it is the risk itself to share your information with a financial expert.

What type of information is shared? When accounts are opened or transferred as an individual or SMB, personal information is inevitably sent between you and your financial services representative (and sometimes their support representative). This information includes and is not limited to:

  • Name
  • address
  • social Security number
  • Account number (for example, in case of bank transfer or bank transfer or credit card)
  • date of birth
  • Employment history and income
  • Current assets and portfolio information

Much of this information is done in person or online through a secure website, but often small and medium-sized businesses and individual clients seek securities brokers, accountants, and clients to answer specific questions on their accounts. More and more, these information transactions are carried out electronically.

How can customer information be compromised if the paperwork is taken care of in person or through a secure web history? Personal financial information (PFI) can be compromised as one-on-one contact with financial services professionals grows and builds up. Sometimes a contact with a financial company is made on the phone, other times via email. It is the security of email communication between customer and company / organization where your PFI is compromised.

A quick question or message sent to a financial services organization appears to immediately go from your computer to the recipient’s mailbox. In fact, email messages are a temporary stop on the way. Because e-mail is sent by the dedicated servers to the final destination, messages arriving at each of these stations are often stored and sometimes copied or even scanned before being sent to the final destination. Email security goes beyond being aware of the current phishing system, where conscientious data thieves sit like someone from your trusted financial institution. Information interception is not just about who forwards the message, but also about who might catch those messages while on the move.

Financial companies, though guided by government action, restrictions and guidance, sometimes do not seem to have a specific policy when dealing with email between a client and a company employee. Compliance and risk management that govern the company’s policies must address the nuances described in the Sarbanes-Oxley, Gramm-Leach-Bliley Laws and Securities and Exchange Commission (SEC) Regulations. Each of these governmental policies governs the way your personal financial information (PFI) is organized digitally, but does not delineate the best method of protecting PFI.

Andy Purdy, acting director of the National Cyber ​​Security Division of the Department of Homeland Security in a February interview with CNet / News.com, explains the importance of protecting PFI and other important digital assets:


“I think consumers and small businesses and big corporations and the government are all important when trying to reduce network risk. We are trying to raise awareness with partners about the responsibilities and technologies that consumers can use to secure their systems.” (1)

A customer’s PFI is a product that can be bought and sold on a black market’s data storage. Digital thunder appears to collect e-mail information in a variety of ways. What can individual clients and SMEs do to improve the situation while connected to their financial services company? Data encoding facilitated the process of securing sensitive information such as PFI. If one of these digital black-black markets experiences an interrupted encryption message (unless they have somehow received the encryption keys), they will not be able to decrypt the message. If the e-mail movement tries to break any of the common encryption algorithms, they probably wouldn’t be able to do so during their lifetime.

Business owners and individual investors can work all their lives to become successful and stable. Having sensitive information like one & # 39; PFIs at risk by email can disrupt financial stability. Communicating with these services is a risk of being aware of email risks, phishing scams, and using encryption tools to secure financial communication tools. Despite being quite broad in nature, financial services in all areas of its ability as a lender, investment manager or financing arm can take an additional step in the financial performance of its client. The use of encryption tools enables individual clients or SMBs to stay in close contact with these stewards about their financial future.

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