DeviceLock White Papers

Consumer electronics and applications are proliferating in corporate IT environments, significantly increasing the threat of lost and stolen data. Personal devices such as Smartphones and Mobile Internet Devices (MIDs) are now commonly brought to work and used for business purposes.

The Sarbanes-Oxley Act (SOX) was adopted in the US in 2002. This statutory act set out documentation and financial reporting requirements for companies, reinforced personal liability of CFOs and CEOs, and introduced procedures for regular independent audits.

Soon after they were introduced years ago, payment cards became one of the most popular means of making payments for goods and services among the public. But while payment cards provide their holders with maximum convenience, using them involves additional risks. If the information that is contained on a plastic card falls into the hands of a malicious user, the owner
of that card risks losing money from his personal bank account.

The corporate governance systems of public companies listed on the London Stock Exchange (LSE) are governed by the Combined Code on Corporate Governance. The principles, rules and requirements set out in the Combined Code are aimed at increasing the effectiveness of information disclosure, thus increasing the transparency of public companies. They are also
meant to put into place the means for internal control over financial reports and corporate assets in order to protect shareholder interests.

The protection of any personal consumer information stored in a financial company’s information system is regulated in the US by two key laws: GLBS (the Gramm-Leach-Bliley Act of 1999) and FACTA (the Fair and Accurate Transactions Act of 2003). Both of these laws were drawn up in an
effort to protect consumer financial information against leakage and abuse, and in order to prevent identity theft and other types of fraudulent behavior.

Basel II (full name: The International Convergence of Capital Measurement and Capital Standards: A Revised Framework), is the second of the Basel Accords and poses minimum capital requirements. In line with the framework, financial companies must assess their operational, market and credit risks and form capital reserves to cover these risks.

In keeping with the Health Insurance Portability and Accountability Act, Public Law 104-191 (HIPAA), which was adopted in 1996, all American organizations which use the personal medical data of citizens are required to guarantee the confidentiality of that information. HIPAA requirements are mandatory for medical institutions, medical insurance companies, government agencies and other organizations which have access to private medical records.