How to Protect Financial Data Integrity

For companies that have strict data locality and compliance requirements, the ability to secure PII during data replication is crucial. A few ways that companies can handle PII effectively when it comes to data replication: 1️⃣ Column Exclusion: safeguard sensitive information by excluding specific columns from replication entirely, ensuring that they do not appear in the data warehouse or lake for downstream consumption. 2️⃣ Column Allowlist: utilize an allowlist to ensure only non-sensitive, pre-approved columns are replicated, minimizing the risk of exposing sensitive data. 3️⃣ Column Hashing: obfuscating sensitive PII into a hashed format, maintaining privacy while allowing for activity tracking and data analysis without actual data exposure. 4️⃣ Column Encryption: encrypt PII before replication to ensure that data is secure both in transit and at rest, accessible only via decryption keys. 5️⃣ Audit Trails: implement comprehensive logging to track changes to replicated data, which is essential for monitoring, compliance, and security investigations. 6️⃣ Geofencing: control data replication based on geographic boundaries to comply with laws like GDPR, which restricts cross-border data transfers. By integrating these strategies, companies can comply with strict data protection regulations and enhance their reputation by demonstrating a commitment to data security. 🔒 One of our customers is a B2C fintech platform. They use Artie (YC S23) to replicate customer and transaction data across platforms to analyze and monitor changes in risk scores. To ensure compliance with financial regulations and safeguard customer data, the company uses column hashing for sensitive financial details and customer identifiers. This way, they are able to identify important PII changes without exposing sensitive data to their analysts. Additionally, they implemented audit trails (our history mode/SCD tables!) to monitor and log all data changes. Geofencing is utilized to restrict data processing to specific regions, to remain compliant with regulations like GDPR. How is your organization managing PII in data replication? Are there other strategies you find effective? #dataengineering #datareplication #data

How to Mitigate the Impact of Cyber Security Incidents on Financial Reporting ⬇ ➡ Effective access control measures are crucial for protecting and maintaining the integrity of financial reporting data. By implementing strong access controls, you can limit access to sensitive financial information and prevent unauthorized users from manipulating financial transactions and reports. ➡ Strong access control measures include a range of strategies, like policy-based access controls, least privilege principles, control monitoring, and segregation of duties. ➡ Policy-based access controls assign specific access privileges based on roles and other defined attributes. This ensures employees only have access to the information needed to perform their job functions, reducing the risk of unauthorized access or data breaches. ➡ Implementing least privilege principles ensures users are granted minimum access required to fulfill their duties, minimizing the potential for insider threats or malicious activities. ➡ SoD is another critical access control component, particularly in transactional systems like ERP. By separating conflicting duties and responsibilities, you can prevent fraud and errors by ensuring that no single individual has complete control over key financial activities. ➡ For example, separating the roles of initiating, approving, and recording transactions can help maintain accountability and transparency in financial reporting. ➡ CCM is essential for detecting and preventing control violations. By leveraging automated monitoring solutions and analytics, you can monitor access, detect violations, and respond quickly to potential security incidents. Continuous monitoring enables you to proactively identify and address internal control weaknesses before they escalate. ➡ Integrating access control measures with comprehensive cybersecurity frameworks can give you a holistic approach to managing cybersecurity risks and protecting financial reporting data. ➡ Strong access control measures and continuous monitoring are crucial in a comprehensive cybersecurity strategy that protects and maintains financial reporting data. By implementing robust access controls, organizations can limit access to sensitive information, prevent unauthorized activities, and safeguard the integrity of financial reports. ➡ Additionally, continuous monitoring allows organizations to detect and respond to security threats in real time, minimizing the risk of data breaches and ensuring compliance with regulatory requirements. #accesscontrols #segregationofduties #accessgovernance

𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐃𝐚𝐭𝐚 𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝟑-𝟐-𝟏-𝟏-𝟎 𝐌𝐞𝐭𝐡𝐨𝐝: 𝐀 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐈𝐦𝐩𝐞𝐫𝐚𝐭𝐢𝐯𝐞 In the ever-evolving landscape of data security, adopting robust strategies is non-negotiable. Enter the 𝟑-𝟐-𝟏-𝟏-𝟎 𝐌𝐞𝐭𝐡𝐨𝐝, a powerful framework designed to fortify your data protection arsenal: 🔹 𝟑 𝐂𝐨𝐩𝐢𝐞𝐬: Ensure redundancy by maintaining three copies of your data across different systems or platforms.  🔸 𝐏𝐫𝐢𝐦𝐚𝐫𝐲 𝐂𝐨𝐩𝐲: Your primary working dataset.  🔸 𝐎𝐧-𝐬𝐢𝐭𝐞 𝐁𝐚𝐜𝐤𝐮𝐩: A secondary copy stored on-site for quick access and recovery.  🔸 𝐎𝐟𝐟-𝐬𝐢𝐭𝐞 𝐁𝐚𝐜𝐤𝐮𝐩: A tertiary copy stored off-site to safeguard against site-specific disasters. 🔹 𝟐 𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐓𝐲𝐩𝐞𝐬: Diversify your storage infrastructure with at least two types (e.g., cloud, on-premises) to mitigate risks associated with single-point failures.  🔸 𝐂𝐥𝐨𝐮𝐝 𝐒𝐭𝐨𝐫𝐚𝐠𝐞: Leverage the scalability and accessibility of cloud-based solutions.  🔸 𝐎𝐧-𝐩𝐫𝐞𝐦𝐢𝐬𝐞𝐬 𝐒𝐭𝐨𝐫𝐚𝐠𝐞: Maintain control over sensitive data with on-site storage solutions. 🔹 𝟏 𝐎𝐟𝐟-𝐬𝐢𝐭𝐞 𝐁𝐚𝐜𝐤𝐮𝐩: Safeguard against site-specific disasters or disruptions by storing one copy of your data off-site.  🔸 𝐒𝐞𝐜𝐮𝐫𝐞 𝐃𝐚𝐭𝐚 𝐂𝐞𝐧𝐭𝐞𝐫: Partner with a trusted third-party provider to securely store your off-site backup.  🔸 𝐑𝐞𝐠𝐮𝐥𝐚𝐫 𝐑𝐨𝐭𝐚𝐭𝐢𝐨𝐧: Implement a rotation schedule to ensure data is up-to-date and accessible when needed. 🔹 𝟏 𝐈𝐦𝐦𝐮𝐭𝐚𝐛𝐥𝐞 𝐒𝐭𝐨𝐫𝐚𝐠𝐞: Implement immutable storage solutions to prevent unauthorized alterations or deletions, enhancing data integrity and compliance.  🔸 𝐖𝐎𝐑𝐌 (𝐖𝐫𝐢𝐭𝐞 𝐎𝐧𝐜𝐞 𝐑𝐞𝐚𝐝 𝐌𝐚𝐧𝐲): Utilize WORM technology to enforce data immutability and compliance with regulatory requirements.  🔸 𝐕𝐞𝐫𝐬𝐢𝐨𝐧 𝐂𝐨𝐧𝐭𝐫𝐨𝐥: Maintain a comprehensive version history to track changes and ensure data authenticity. 🔹 𝟎 𝐄𝐫𝐫𝐨𝐫𝐬: Regularly validate your backups and audit your storage systems to minimize the likelihood of errors or data corruption.  🔸 𝐀𝐮𝐭𝐨𝐦𝐚𝐭𝐞𝐝 𝐂𝐡𝐞𝐜𝐤𝐬: Implement automated backup verification processes to detect and rectify errors proactively.  🔸 𝐑𝐨𝐮𝐭𝐢𝐧𝐞 𝐀𝐮𝐝𝐢𝐭𝐬: Conduct regular audits of your storage infrastructure to identify vulnerabilities and ensure compliance with best practices. By embracing the 3-2-1-1-0 Method, you empower your organization to withstand a multitude of threats, from hardware failures to cyberattacks, ensuring business continuity and peace of mind. #AI #DataProtection #Cybersecurity #DigitalTransformation #GenerativeAI  #GenAI #Innovation #ArtificialIntelligence #ML  #ThoughtLeadership  #NiteshRastogiInsights  --------------------------------------------------- • Please 𝐋𝐢𝐤𝐞, 𝐒𝐡𝐚𝐫𝐞, 𝐂𝐨𝐦𝐦𝐞𝐧𝐭, 𝐒𝐚𝐯𝐞 if you find this post insightful • 𝐅𝐨𝐥𝐥𝐨𝐰 me on LinkedIn https://lnkd.in/gcy76JgE  • Ring the 🔔 for notifications!