As much as how easy it is to access information, it is also that easy to have data leakage within an organization, where confidential data lands in the wrong hands. Data leakage happens when information or data gets transmitted from an organization to an outside recipient without authorization.

Data leakage can happen due to different reasons. The most known reason is that bad actors seek to exploit an organization’s data by bypassing security and they continue to improve their tools and methods just to do so. 

However, employees can also cause data leakage unintentionally, especially today when most of them communicate outside and inside the corporate network on the same device. In truth, they are considered a primary threat to an organization’s data as they can eventually deliver them to cyber criminals.

Data leakages that expose financial information pose a significant threat to organizations compared to those that reveal email addresses. Such leaks can be due to apps and mobile devices on smartphones that employees use to exchange confidential data. The sensitive data that cybercriminals can access through organizations’ apps and mobile websites include customer names, login credentials, gender, birth, and more.

Deleting data to prevent data leakage from happening is not a viable solution, especially if organizations want to remain compliant with FINRA retention requirements. As the need to prevent data leakage is vital to minimize risks, financial losses, and litigation, organizations should have a robust mobile archiving solution that can effectively instant message capture for text messaging compliance.

Aside from that, organizations must choose a reputable archiving solutions provider that is excellent at call monitoring. Call monitoring compliance is a critical regulatory requirement for financial services institutions.

Here are several key steps for organizations to take to prevent data leakage:

  • Comply with industry text messaging compliance requirements
  • Have an internal mobile policy
  • Encryption and data wiping

If you want to learn more about data leakage, read this infographic from TeleMessage.