A Secure Alternative to Dropbox?

As firms increasingly begin to shift their data storage to the cloud, employees have greater access to sharing and potentially exploiting sensitive information.

While Dropbox is friendly and intuitive for sharing photos and other pieces of public information across the devices of friends and family, its system is not built for collecting, organizing, sharing and tracking critical documents where a focus on file security is paramount.

Unwarranted Access

Files that have been sent to both current and former employees immediately fall out of the control of the company and into the hands of individuals that may not have the focus or know how to keep the information secure. Each and every user with these files sitting on their device is a potential target for hackers looking to gain unwarranted access your sensitive information.

Firms also face the external threat of malicious intent, when fired or angered employees might abuse their pre-existing access to important files and documents. The major problem is the fact that once files are shared within Dropbox, there’s no way of knowing who might see those documents or where they might end up.

Sensitive Information Shared with Others

Sensitive information can be saved, uploaded, and shared with anyone, as was seen with the Dropbox password breach in 2012 and the Dropbox user login data sale in 2016, where users were flooded with spam to their personal email accounts after their information was shared and sold online.

Dropbox also has had alarming clauses in their terms of service and privacy policies that have disputed data ownership, data usage rights, privacy rights and Dropbox employee  access permission with respect to your Dropbox account.

So you’re probably asking, what’s the solution?

Virtual Data Rooms – Secure Platforms for Sharing Business – Critical Files

A virtual data room is an online proprietary software that is used for sharing and distributing documents with privacy and ease. Data rooms can and are being used in many fields and industries; including M&A, real estate, audit and tax, wealth management, loan processing, litigation and venture capital transactions.

Virtual data rooms are able to pick up where generic file sharing programs such as Dropbox leave off, offering security, complex reporting, advanced functionality, and customer service.

At Vault Rooms, we understand the tremendous risk involved in sharing and sending documents. That’s why we provide dynamic watermarks, the option to restrict file downloading and printing, full audit trails of document access and other security features to ensure that our clients’ files are safe under all circumstances.

This makes it easier for businesses to run due diligence correctly, conduct business transactions securely, comply with regulatory authority governance and requirements, and assure that uploaded information is never shared or sold.

Vault Rooms also offers a variety of hosting plans, providing bank-level security with simplicity of use.

Looking for a solution that allows you to share your business-critical files safely? We at Vault Rooms are committed to helping you find a solution that fits your needs perfectly. Click here to get started: www.vaultrooms.com

Network Security at the RNC

It seems like you just can’t turn on the news this week without hearing about the Republican National Convention occurring from July 18th to the 21st.

With such heavy traffic focused in on the event, it’s no wonder that extra-preventative cybersecurity measures are being taken to ensure that the event runs smoothly.

RNC and Security

Tonight, as Donald Trump is expected to formally accept the Republican nomination, it seems as if the entire world will be watching. This includes 10,000 devices connected to the physical RNC network, as well as millions streaming from devices elsewhere. As of now, there has been no suspected threat of any kind, although unusual traffic has been detected from Russia and Asia.

Vince Cristler is the CEO of security contractor Dark Cubed, which utilizes a network-sharing technology to allow companies to communicate potential security threats back and forth. For him, this means sitting in front of a monitor and watching the network data tick by.

So what exactly are these threats that are being watched for?

Well, there’s malware, which is particularly dangerous for individual devices. However, a higher threat is posed from malicious code that could scan the network for potential infiltration points.

RNC Security Command Center

Several blocks away from the RNC arena lies the command center, where experts are constantly moving back and forth to monitor the situation.

Security analysts are making the most of the ability to detect each and every device’s bandwidth activity. If something were to be noted as suspicious, they would be able to relocate it to a more isolated access point. And if a true issue were to arise, that device could be banned blocked from the RNC altogether.

There’s no telling what will happen at tonight’s big event. However, one thing is certain: security experts have prepared themselves for anything.

Security with Vault Rooms – Be Prepared for Anything

At Vault Rooms, we believe that the same level of meticulous preparation is required to maintain the security of sensitive information during financial transactions. Companies are often in need of a solution that helps them keep their business-critical files safe, but also accessible to the right parties during such important deals.

Security is a top priority for us at and we pride ourselves on being able to provide our clients with virtual data rooms that allow them to exercise complete control over their documents in a highly secure environment.

With virtual data rooms being used in so many different and new ways, we have also come to realize that each company has its own specific security needs. So, whatever your needs may be, we at Vault Rooms have a customized solution that perfectly fits your requirements.

To learn more about our virtual data rooms, get started here: www.vaultrooms.com.

Biometric Technologies for Data Security

biometricWith modern technology evolving rapidly, it’s understood that vulnerabilities and security risks are following suit. The next step in mitigating risk and protecting confidential data is the use of biometric technologies.

These technologies include any type of security measure that involve the detection and verification of particular human characteristics, such as fingerprint recognition or an iris scan.

Human Error in Security

Biometrics are a positive development because many of the most common security measures include a heavy potential for human error.

Perhaps an employee leaves his or her password sitting out on a sticky note. Or a computer is successfully infiltrated with malware. Maybe that email chain you received and proceeded to forward was initiated by a fraud.

How can firms eliminate this human error while still seeking to ensure that users are who they say they are?

Biometric Technologies

Biometric scanners allow for the direct detection of unique human qualities that cannot easily by replicated and used to bypass security measures.

Suppose you’re an authorized personnel seeking to gain access to a private server farm. Just place your eye before the scanner and your genetic credentials will speak for you.

Suppose you’re not on the list of permitted users: the biometric security system will swiftly inform administrators that an attempted intrusion has occurred.

How It Works

First, a biometric presentation occurs in which your feature is captured and pre-processed. Then, once extraction occurs, a template of 1s and 0s is created and stored in the database. Next time you attempt to access the database, your sample will be compared to the stored template and the system will be informed that you’re permitted.

These technologies are already being used in a variety of industries and fields. These include national security, homeland security & law enforcement, enterprise & e-government services, personal information, and business transactions.

What It Means for You

While key cards, passwords, and PINs are certainly important for keeping data in safe hands, they should never operate alone.

When you’re looking to leverage a technology service for your firm, check to see if they’re implementing biometric security measures to protect trusted user information.

V-Rooms utilizes Amazon Web Services to provide comprehensive security monitoring, including biometric technologies, to ensure that information is both safe and accessible.

For more information on V-Rooms Virtual Data Rooms, please visit www.v-rooms.com

SOC 2 for Technology Services

SOC 2

If you’re providing a service to customers, then you must be well aware of the numerous certifications advertised as being crucial to the success of your company. Perhaps the most important certification for technology and cloud computing firms is the recognition of holding to SOC 2 Compliance.

What Is SOC 2 Compliance?

SOC 2 Compliance is designed specifically for the growing number of technology and cloud-based entities that are increasingly permeating the world of service organizations.

This compliance also guarantees that certified companies are operating in accordance with the AT 101 “attestation” standard. This essentiality audits the system of any service that might potentially impact the financial reporting of a customer.

There are 5 TSPs (Trust Service Principles) that are included within the certification. They include:

  1. Security
  2. Availability
  3. Processing Integrity
  4. Confidentiality
  5. Privacy

These TSPs have been created to ensure that service firms are meeting a high standard for quality when handling valuable customer information.

Levels of SOC 2 Compliance

Companies that are seeking to operate within the compliance can choose to be audited with a Type 1 or Type 2 report.

Type I reports analyze the policies and procedures of a system within a fixed point in time.

Type II reports span the length of 6 months and thus are deemed to be more comprehensive in authenticating a service provider’s credentials.

Why Look for SOC 2 Compliance?

While the 5 TSPs and multiple levels of SOC 2 Compliance sound nice and assuring on paper, why does any of this really matter when searching for a service provider?

We are living in a tumultuous time regarding cyber security and the digital handling of private transactions. It’s important now more than ever to ensure that the services you trust are being held to a certain standard of regulation.

Trusting a technology or cloud-based company with SOC 2 Compliance can allow both the supplier to feel confident in their operation, and the client to feel comfortable that their information is in safe hands.

V-Rooms utilizes Amazon Web Services to provide comprehensive security monitoring and SOC 2 compliance so that information is available on demand anytime, anywhere.

 

Commercial Transactions with Virtual Data Rooms

Commercial TransactionsStreamlining the transaction and due diligence process provides a huge advantage in the world of commercial transactions, which are typically very costly and time-consuming.

Virtual Data Rooms offer a few distinct advantages to sellers who might be looking for a more efficient means to exiting each transaction.

Streamlining Commercial Transactions

When it comes to commercial transactions, time is of the essence. You’re working with two parties that are seeking a quick conclusion, and any time wasted adds to the stress of the situation.

Virtual Data Rooms streamline the commercial transaction process so that there are no hang-ups, mishaps, or game-changing errors.

These features include advanced document searching capabilities, the ability to bulk upload pertinent files, and push notifications for when documents are updated.

More Space for Collaboration

One of the biggest time consumers in commercial transactions happens to be the process of sending documents back and forth between two parties.

This issue is resolved by providing an online collaboration space so that both parties can view the documents they’re supposed to receive without ever having to leave their office.

Users can view documents simultaneously and companies can open multiple data rooms to manage separate transaction processes.

Safe Sharing of Sensitive Information

Often times, a firm isn’t dealing with one potential buyer but many. This involves sending out valuable documents that could potentially wind up anywhere.

Virtual data rooms mitigate this risk by providing a variety of security options, including the ability to monitor whoever views a document, determine the users who can open the document, and remove the ability to print for an individual document.

This allows you to focus on the value of each commercial transaction, rather than having to worry about the details of sending it through

Read more about how virtual data rooms can help streamline your commercial transactions here: http://www.v-rooms.com/

Virtual Data Rooms for Preserving Documents

preserving documentsSmall-business health has been projected to continue in 2016, leading to an increase in transactions and documents being shared, as well as the need for preserving documents.

This requires a method of handling these transactions that doesn’t involve an army of interns marching papers from room to room.

Let’s weigh the pros and cons of physical document handling and storage versus online document management.

Issues with Physical Backups

Your desk is cluttered, papers are flying everywhere, and that stack of files was your only method of preserving documents.

That’s a tough situation to be in, whether you’re dealing with law, accounting, or M&A.

It’s common knowledge that paper decays rapidly, and the effort needed to organize files by hand is excruciating. With every successful transaction comes the extra cost of having to sort and arrange the corresponding files.

Many firms opt to switch to public cloud services such as Dropbox, thereby trading security and functionality for convenience.

However, there’s a system for preserving documents that doesn’t require compromising any of your firm’s security.

Preserving Documents with a Virtual Data Room

Virtual Data Rooms allow you to store, secure, and share sensitive documents with peace of mind.

The core functionality is simple: you upload documents, set your security levels, and share the document with those who are actually meant to view it.

With this solution, you don’t need to worry about losing backups or wiping your hard drive. Your essential data is stored online in a secure collaboration environment.

Virtual Data Rooms can ensure that your firm’s information is accounted for. Preserving documents with ease leads to the trust of clients and investors that your business knows what it’s doing.

For smaller businesses, these virtual data rooms are scalable, guaranteeing that you only need to pay for what you’re using.

Read more about how virtual data rooms can assist your firm in preserving documents: http://www.v-rooms.com/

Joint Venture with a Virtual Data Room

Joint_Venture_ManagementWould you want your joint venture information exposed to the public?

Virtual Data Rooms are hardly just a safer alternative to Dropbox. They can also be used to streamline a wide variety of procedures, including the tasks associated with joint ventures.

The tasks involved with a joint venture require more than just file-sharing capabilities. There’s a certain level of security and functionality that professionals require to conduct business in the workplace.

Joint Venture Security Risk

Working with one team can be difficult enough; working with two teams requires an additional dimension of extreme organization and planning. Virtual data rooms provide a secure collaboration space, allowing two parties to pool their resources for a specific task.

Suppose you’re in the conception phase of a joint venture and are sending out an agreement to the other party. This is not the type of document that you’d like roaming around the internet for everyone, especially competitors, to see.

These days, it might seem easy to simply send a file via email or other sharing platform and hope that it doesn’t make its way into the wrong hands. However, there’s just no way to guarantee where that file may end up, either due to malicious intent of the recipient or due to an outside force.

With a joint venture, you’re not dealing with the sensitive information of just one party but two, meaning that there are twice the risk and twice the reward for any rogue users that might come across it.

Don’t let your data fall into the wrong hands.

Virtual Data Room Solution

Using a virtual data room for a joint venture is as easy as uploading a document, applying security settings, and specifying who’s allowing to view or download the document.

This means that all you need to do to leverage information security for your joint venture is select the agreement and dictate who gets to print, view, or download the file.

Virtual data rooms offer the highest level of security and ease-of-use for exchanging documents in cyberspace. This means that you no longer have to worry about an unwanted party gaining access to your restricted information.

Read more about how virtual data rooms can provide a secure solution for your joint venture plans:: http://www.v-rooms.com/

Easy To Be Hacked

Should you give Kevin Mitnick your name?

If you’ve ever received an email from a friend, in which she asks you to wire money to her in the Philippines because her luggage and wallet have been stolen (and yet you know she’s safe and sound down the street), you’ve known someone whose email account has been compromised.  Have you ever seen fraudulent activity on your credit card?  Have you ever filed a tax return only to be told a tax return for that social security number has already been filed?

Chances are, you’ve encountered at least one of these situations in the past few years.  It’s easy nowadays to fall victim to phishing or have credit cards compromised. But just how easy do you think it is for a hacker to do his deed?

Unfortunately, it’s really quite easy, actually.

Kevin Mitnick’s Public Hack

At a BBVA luncheon a company CEO volunteered for a live demonstration with Kevin Mitnick, the world’s most renowned hacker.  Kevin asked the volunteer to join him onstage and, after a quick introduction, searched for the volunteer’s first and last name in an online database, which charged just a dollar per search.  There were a few results.

So Kevin verified the volunteer’s middle initial and hit search again. And… Bingo!  On the projection screens, visible to an audience of about 200, the volunteer saw his recent home addresses among other personally identifiable information (PII).

Using this information, Kevin easily found the volunteer’s driver’s license number in another database.  And within minutes and for just a few dollars, Kevin had enough information to open credit cards in the volunteer’s name, change information on existing accounts, or worse. 

So Now What?

Rather than clap for the feat accomplished so quickly and deftly, the audience stared wide-eyed at Kevin, the volunteer CEO, and the projection screens, as if struck paralyzed and dumb.  The fear in the room was palpable.

The fact is, no one is impervious and no entity is entirely impregnable to those wanting access. However, the more difficult it is to gain entry, the more likely the intruder will give up and seek an easier target, right? So doesn’t it make sense to raise the barrier to entry?

Fortify Your Defenses

Every small security measure you take fortifies your defenses.  As Kevin Mitnick chronicles throughout his book, Ghost in the Wires (2011), physical means are often used to access digital and cyber information.  He regularly dumpster dove for sensitive information that had been tossed out instead of disposed of properly.  Quick takeaway: shred your documents.  In his former life, Kevin also illegally accessed others’ email accounts for login credentials, passwords and business sensitive documents. Another quick takeaway: store sensitive documents in a secure place like a virtual data room.

For more information on secure document collection, sharing and storage, visit www.vaultrooms.com.

The Unpredictable Path of Valuable Data

With technology increasingly permeating all industries, the risk that unwarranted access to valuable data may be granted has significantly increased.

Prior to the digital age, a hard copy was the only key available to unlock a treasure trove of company information.

Feeding the Competition

When it comes to cybersecurity, there’s a particular scenario, or range of scenarios, that focus on the danger that key information might be obtained and leveraged by competitors in the industry.

Consider this: you’re dealing with a potential client, and thus, are obligated to share valuable data. Meanwhile, this client is also considering the offers of several other competitors. At the end of the day, the client decides to go with the firm you’ve been battling head-to-head for years.

And now they’re walking away with all of your secrets.

This situation might sound cynical, but consider the issue at hand. When working with people, ripe with their own aspirations and intentions, it’s hard to rely on trust to ensure that your sensitive information isn’t being tossed around the industry.

That’s where Digital Rights Management, or DRM, comes in handy.

Control Valuable Data

DRM at its most fundamental level allows administrators to restrict different levels of access to a document while still allowing the content to be shared.

This offers a wide range of possibilities and allows you as a company representative to feel secure in sharing your resources with potential customers.

Some DRM services offer the unique capability to restrict printing or viewing after a certain date. Tying it back to the situation above, this means that if a potential client walks out the door, they’re leaving your data behind.

This useful security system doesn’t just apply to documents, either. DRM is used by every reputable streaming service to ensure that rogue users can’t illegally download and share videos straight from the source.

When partnered correctly with your system, DRM can be a huge money-saver whether you’re dealing with transactions, file sharing, or providing virtually any form of content over the web.

With proper digital rights management, your due diligence information and intellectual property can be protected while still permitting the level of flexibility that you require.

Read more about how you can use DRM to mitigate risk with V-Rooms: http://www.v-rooms.com

SendPPM Announces Online 506b PPM

Sept. 1, 2015

SendPPM.com announces the release of their web-based PPM distribution platform for use by issuers, broker dealers, investment bankers and other financial professionals in accordance with the new Securities Exchange Commission (SEC) guidelines. This is in response to the SEC’s recent No-Action letter which clarifies the utilization of the internet for online Private Placements under rule 506(b).

In 2012 the JOBS Act lifted the prohibition on advertising or broadly soliciting investor interests in privately held securities, resulting in the establishment of procedures for general solicitation under rule 506(c). However, for a variety of reasons, firms and issuers generally preferred to continue with the tried and true approach, a private sale of securities known as a 506(b) offering. The SEC’s no action letter relative to rule 506(b) opened the door to be able to use the internet to create “pre-existing, substantive relationships” that would be permitted and not be categorized as general solicitation for private placement offerings.

“Our award winning SendPPM.com platform, now in its tenth year, has been used to raise over $1 billion in private placements by issuers, broker dealers and investment bankers, ” said Karen Perkins, President of V-Rooms™, the parent company of SendPPM.com. “We have tailored our solution to meet these new SEC guidelines and open the capital raising process to a wider online global audience of prospective investors.”

In utilizing the SendPPM.com platform, issuers will be able to collect and store confidential information from prospects in a variety of ways, assessing each prospect’s sophistication, financial circumstances, and ability to comprehend investments and their risks. Once this online pre-existing, substantive relationship with an investor is established and the investor is approved as an accredited investor, they can be provided immediate access to the offering documents via SendPPM.com’s password protected website. The platform’s extensive administrative reporting features also provide audit/tracking reports that are essential for adhering to SEC/FINRA regulations, as well as providing a “behind the scenes” view of prospect document viewing activity.

About SendPPM.com:

SendPPM.com is a division of V-Rooms™ virtual data rooms that provides a cloud-based, customizable data room solution that is designed to streamline document management, collaboration, exchange and archiving for medical, financial, legal and corporate professionals. The V-Rooms Software-As-A-Service (SAAS) secure document portal facilitates the secure exchange of sensitive information providing compliant and auditable transactions. SendPPM.com provides for the online assembly of investor information and the secure distribution of private placement memorandums to expedite raising business capital. Additional information can be found at www.SendPPM.com

About V-Rooms™:

V-Rooms™ provides a cloud-based, customizable virtual data room (VDR) solution that is designed to streamline document management, collaboration, exchange and archiving for financial, legal and corporate professionals. The V-Rooms™ Sofware-As-A-Service (SAAS) secure document portal facilitates the secure exchange of sensitive information providing compliant and auditable transactions. V-Rooms™ enables the acceleration of complex, information-intensive processes while reducing the time and expenses associated with data distribution, courier, printing and travel. Additional information can be found at here.