Data Protection Solution Helps Financial Institutions Protect Against Insider Threats
WASHINGTON, DC AND CHICAGO (April 4, 2011) - The American Bankers Association (ABA) has extended its endorsement with Trustwave, a leading provider of information security and compliance solutions, to include a data security suite that helps protect financial institutions from insider threats and abuse of proprietary and sensitive information. The ABA endorsement is made through its affiliate, Corporation for American Banking (CAB).
Historically, addressing the risk presented by suspect employees or "insider" activity at banking institutions has focused on combating fraudulent behavior aimed at the financials of the bank and its customers. While the risk of exposure of non-public information has always been present, the advent of blogs, social media and open web forums has created a nurturing environment for the leakage of sensitive information.
ABA's endorsement of Trustwave DataControl offers ABA members access to a unique solution that integrates data leakage prevention with Trustwave's Smart TagTM encryption. Smart Tags contain encryption and protection policies that stay with data as it travels from device to device, so data is consistently protected at all times and wherever it goes. Trustwave DataControl discovers where sensitive data resides across the organization based on criteria set by the financial institution, and then protects the discovered data by encrypting it.
Trustwave Smart Tag technology provides a simplified and more effective approach to encryption due to its focus on protecting the data itself - not the devices to which data is saved or the networks over which the data travels. This type of persistent enforcement ensures sensitive information is always protected and only visible to those with appropriate credentials.
The program will provide banking institutions of all sizes with multiple service levels to track and control the flow of sensitive information. Financial institutions can work with Trustwave to monitor desktops, servers and file shares using Trustwave DataControl to avoid leaking sensitive financial information.
"With this endorsement of Trustwave DataControl, the ABA is expanding the data security resources available to ABA members," said John Wolff, president of the Corporation for American Banking. "Trustwave offers the comprehensive security and compliance solutions necessary to ensure that financial institutions of all sizes are protected. We're pleased to extend the endorsement to include Trustwave DataControl, particularly in light of the growing number of threats targeting sensitive data."
"Banking institutions are high value targets, and in turn, it's critical to know where sensitive data resides and who has access to it," said Robert J. McCullen, chairman and CEO of Trustwave. "By implementing Trustwave DataControl, encryption policies protect critical assets from unauthorized access reducing the potential for data leakage, compromise and brand damage."
About American Bankers Association
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation's $13 trillion banking industry and its 2 million employees. The majority of ABA's members are banks with less than $165 million in assets. Learn more at www.aba.com.
About Corporation for American Banking
Corporation for American Banking (CAB) is an affiliate of the American Bankers Association that endorses bank solutions on behalf of the Association, helping banks save money, make money, and operate more efficiently. Solutions range from mission-critical insurance, compliance and risk management programs to services that help banks stay competitive and efficient through technology and business growth platforms. More than 6,000 banks use at least one ABA-endorsed CAB program. These programs are also supported by State Bankers Associations through co-endorsement relationships.
About Trustwave
Trustwave is a leading provider of on-demand and subscription-based information security and payment card industry compliance management solutions to businesses and government entities throughout the world. For organizations faced with today's challenging data security and compliance environment, Trustwave provides a unique approach with comprehensive solutions that include its flagship TrustKeeper® compliance management software and other proprietary security solutions including SIEM , WAF , EV SSL certificates and secure digital certificates . Trustwave has helped hundreds of thousands of organizations-ranging from Fortune 500 businesses and large financial institutions to small and medium-sized retailers-manage compliance and secure their network infrastructures, data communications and critical information assets. Trustwave is headquartered in Chicago with offices throughout North America, South America, Europe, Africa, Asia and Australia. For more information, visit https://www.trustwave.com/en-us/.