RPost Predicts European Regulators have Forever Transformed the Market for Email Encryption The European General Data Protection Regulation's Steep Fines are Predicted to Change the Email Encryption Market to be Centered on "Auditable Proof" of ...
RPost Predicts European Regulators have Forever Transformed the Market for Email Encryption
The European General Data Protection Regulation's Steep Fines are Predicted to Change the Email Encryption Market to be Centered on "Auditable Proof" of Encrypted Transmission
LONDON, UNITED KINGDOM--(Marketwired - April 27, 2017) - RPost, a leader in the email encryption market, predicts that The European General Data Protection Regulation (GDPR) will forever transform the email encryption market in Europe, in that businesses will be compelled not only to transmit information securely, but also to retain auditable proof of compliant, secure email delivery. For many businesses, the latter driver will require them to change email encryption services altogether.
Auditable proof of encryption compliance will be what is needed to deal with the potential of accusations of data breach; particularly when the fines prove to be as steep as the regulators have declared they will be.
"Sending email encrypted or through secure transmissions will soon become the norm in Europe -- but for those businesses dealing in consumer information that make a lot of money, a 'claim' that a message was sent securely may not be enough to mitigate risk of huge fines," states RPost's CEO Zafar Khan. The General Data Protection Regulation (GDPR) Regulation ((EU) 2016/679) calls for penalties of up to 4% of global turnover or 20 million Euros, whichever is higher. "Considering the potential of a fine tied to a percentage of global turnover, risk managers should begin to appreciate a record of 'proof of data privacy compliance'; better yet, proof on a message by message basis. For a decade, our RMail® service has been providing not only simple-to-use email encryption, but also has been focused on encrypting for compliance -- providing auditable proof of fact of data privacy compliance with a returned Registered Receipt(TM) evidentiary record for every encrypted message sent."
RPost predicts the market will shift from one of encrypting to protect strategic secrets to one of encrypting for business compliance. With such a shift, organizations will gravitate towards encryption providers that can meet this key area of need -- auditable proof of compliant, secure email delivery.
The United States has had heightened awareness of data privacy regulations for several years, and as a result, a higher percentage of business users encrypt for compliance in the US market (79%) versus solely to protect strategic secrets (19%). In the United Kingdom market, the reasons to encrypt are different -- those that encrypt to protect strategic secrets (43%) and for privacy compliance (56%) are about even. (Data is based on RPost's 2017 end user survey respondents filtered for the US and UK markets).
RPost® predicts growth in the market for encryption for business compliance and a corresponding focus on retaining auditable proof of compliance such as that provided by RMail's Registered Receipt(TM) record.
The global leader in secure and certified electronic communications, RPost has helped businesses enhance their security, compliance, and productivity for more than a decade. RPost is the creator of the patented Registered Email(TM) technology, which provides email senders with Legal Proof® evidence of delivery, time of delivery, and exact message content in the form of a Registered Receipt(TM) email record. Since inventing Registered Email technology in 2000, RPost has successfully commercialized four software platforms -- RMail, RSign, RForms, and RPostal -- used by more than 25 million people throughout the world for email tracking, certified e-delivery proof, email encryption, e-signatures, and more.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: RPost via Globenewswire
Source(s) : RPost
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