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Cybercrime has increased by 175% since 2022. This highly vulnerable digital landscape is a wake-up call for businesses to be more intentional about data security measures. Organizations cannot undermine the importance of protecting their operations, especially as cybercriminals become more tech-efficient. This article outlines five best practices for data encryption that every financial institution should adopt to secure its assets, uphold client confidentiality, and ensure compliance with industry regulations. Read more to learn how to encrypt your data and secure your financial future. The Importance of Encryption in Finance Confidentiality Obligations Financial advisors handle sensitive client data, including bank details, identity information, and investment portfolios, which they are legally required to keep confidential. Encryption ensures that this information remains

Compliance doesn’t break when the rules change—it breaks when organizations assume they’re still in control. In an era where regulatory landscapes shift monthly and cloud data multiplies by the second, many businesses are operating under a dangerous misconception: that being “compliant” today means being protected tomorrow. The reality? Most enterprises are managing yesterday’s risks with yesterday’s data, spread across disconnected systems and governed by outdated controls. The result is a false sense of security, one that leaves companies exposed to fines, breaches, and reputational ruin—not because they’re reckless, but because they’re reactive. It’s no wonder data privacy regulators are ramping up enforcement. GDPR fines have surpassed €4 billion to date, and the U.S. Federal Trade Commission has issued a flurry of data-related penalties in the past year alone, from healthcare to