Backup data is not only critical for business continuity, but it also acts as a last line of defense against data breaches and sophisticated ransomware attacks. Ponemon Institute report quantifies the average cost of a single ransomware attack at $5 million due to productivity loss, downtime, and information theft, while the cost of a data breach averages $8.64 million in the United States. To reduce cybersecurity risk, organizations should encrypt backup data to avoid data loss, ensure availability and avoid regulatory penalties. While encrypting data is easy, securing encryption keys from cybercriminals requires enterprise key management to provide secure access control and a Hardware security module (HSM) to securely store keys.
Fortanix solution provides unified data security platform that includes full enterprise key lifecycle management, a FIPS 140-2 level 3 certified HSM, encryption, and tokenization to protect backup data from ransomware, data breaches, and avoid regulatory penalties from General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), and other privacy regulations.