Use Case: Financial

Roman Tykhovsky
October 6, 2020

Financial professionals at companies of all kinds safeguard some of the most powerful and confidential data assets that a company possesses.

The financial data of a private company are not just operating results but are the personal financial results of the owners.  A financial professional in a small or medium sized private company probably knows the owner of the company. The CFO or Head Accountant of a private company is personally responsible for the security of the owner’s data.

In the case of a public enterprise, significant preparation and planning go into the release of financial results to shareholders.  Data preparers have a fiduciary duty to shareholders and the public markets to divulge financial results only at the right moment. 

In smaller, private companies, fraud and embezzlement are special concerns.  Because a small company has limited financial staff, separation of duties is not often completely possible, and financial data may be informally protected.  This is an ideal scenario in which a lower level employee has access to data that he or she is not intended to have.  Even if data is password protected, passwords are poorly administered, and knowledge of them is often an open secret. In both small and large businesses, the threat from malicious insiders is often greater than the threat from intruding outside hackers.

GhostDrive, with multi-factor authentication, encryption, sharding of files into multiple parts, and wide distribution of file parts over a wide remote storage network, provides small businesses with the information security they need.  Further, it embeds in the organization a level of information security discipline that is often lacking.  

In some cases, GhostDrive’s onsite L1 hard drive can be used locally to store data with the complete offering of GhostDrive security.  The drive can be moved to any location where it is needed, and with a Wi-Fi connection can take advantage of the full range of GhostDrive protections. 

Large, publicly owned companies have special data security needs.  Not only is the privacy of information important to the reputation of a company, but corporate financial officers have a fiduciary duty to shareholders and markets to protect financial results until they are due to be released. This constraint upon public corporations is in place to protect the fairness and integrity of stock prices and non-public information. Embargoes on information are often not enough to keep people from seeing the information, stealing it, and acting on it for personal gain.  Just because there are limited reports of financial data theft does not mean they do not occur.  The most effective insider trading is done when the theft is undetected or unprovable.

Financial professionals may especially like the GhostDrive Time Capsule, a feature that allows a user to lock up a file so it cannot be opened by anyone, even him or herself, until the time they set is reached.

GhostDrive data security locks up data so that only those with privileged access will see it. GhostDrive keeps the prying eyes of malicious internal and external actors away from financial results.  GhostDrive will be available on desktops, laptops, and both Android and iOS devices.