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G-71 Launches LeaksID, an IT Solution to Protect Sensitive Data from Leakage

Global banking and finance news 28

G-71 launched a cloud-based IT solution with proprietary technology at its core that protects valuable data from leakage through screenshots, pictures of the screen, printed-out documents, and documents shared via email. LeaksID uses its patented algorithm that logs every file in a way that is invisible to the human eye. The end-user receives a unique copy of the document every time the document is opened, emailed, or printed out. These marks are impossible to remove. In this manner, every person who works with the document knows that if data breaches occur, whoever is responsible for them will be identified, even if the size of the leaked fragment is extremely small.

The development of technological capabilities of personal computers and smartphones increased the number of ways to steal data. According to the Insider Threat Report, over the past few years, the number of screenshots, pictures of the screen, and printouts containing sensitive information leaked online has increased by 10%. Not only can these data breaches be carried out by hackers and cybercriminals, but they can also happen when documents containing personal data or confidential information are received by people whom users trust the most. Friends, acquaintances, or colleagues may lack knowledge about the rules of safe handling of valuable data or might have malicious intentions.

This threat is relevant to businesses. In addition to reputational risks, insider leaks can lead to dramatic financial losses. According to the Ponemon Institute, throughout 2019, large companies spent almost $18 million to eliminate the consequences of leaks; small businesses expenses hit $7.6 million.

The situation has worsened in the aftermath of COVID-19, with virtual communication and document exchange becoming the new normal. Traditional offline methods of preventing data leaks are ineffective when it comes to remote work, which means that information security will remain topical for the foreseeable future.

The main threat to data security generally originates from the outside. However, people with access to a document containing sensitive information pose just as much of a threat. Their motivation can vary from malicious intent to carelessness and lack of knowledge about the safe handling of restricted information. A transparent environment should be created in advance for those who need to protect documents containing confidential or sensitive information. The parties involved should know and accept that the files are protected by a technical solution that reliably identifies the source in case of a leak. The threat of data leak becomes virtually non-existent under these circumstances, noted G-71s CEO Sergey Voynov.

LeaksID is already available in Google Drive, protecting various kinds of file transfers and utilizing shortcuts and direct links. Full-fledged integration with G-Suite services, Dropbox, Box, and Microsoft OneDrive, is coming soon.

About G-71

The Brooklyn-based G-71 creates state-of-the-art information security solutions for private and corporate use. G-71s mission is to ensure daily information security. All G-71 products are designed for possible integration with popular document management systems and standard file formats.

Rodion Kovalenko


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