Does Sarbanes-Oxley Mandate Encrypted Text Messaging for Enterprises?
The Sarbanes-Oxley Act changed the way businesses are required to manage electronic communication and has created a renewed emphasis on encrypted text messaging in the enterprise.
To avoid serious penalties, all organizations need to constantly monitor how messaging technology is used in the workplace and implement encrypted text messaging technology to ensure compliance with key provisions of the Sarbanes-Oxley Act.
Encrypted Text Messaging and Sarbanes-Oxley
Enacted in 2002, Sarbanes-Oxley regulates financial and non-financial practices for both publicly traded and private companies. As a result of Sarbanes-Oxley, regulations for the use of electronic media in enterprise environments were updated to include instant messaging and other forms of "correspondence."
Currently, SEC regulations require firms to store electronic correspondence (email, instant messages, etc.) for at least three years. Although firms are not required to review or approve message content, for the first two years, logs must be maintained in a format that is easily retrievable.
How to Comply with the Encrypted Text Messaging Requirements of Sarbanes-Oxley
The use of an encrypted text messaging system in the enterprise means that you will need to adhere to the regulations laid out by the Sarbanes-Oxley Act. Compliance is often achieved in one of two ways:
- Gateway Solutions -- This type of solution logs instant messaging into a database, but it does not provide an instant messaging server. If you opt not to host this log on your own private company server and instead opt for a public one, security will be limited and your information will be viewable by a third party.
- Server Solutions -- Server solutions provide an instant messaging infrastructure. However, depending on which solution you use, your system might not log messages into a database, or be entirely secure. In addition, there might not be any available management or auditing tools.
NetSfere's encrypted text messaging platform equips your organization with the tools you need to fully comply with the standards prescribed by Sarbanes-Oxley. Key benefits and features of our technology include:
- Security -- Secure messaging is a high priority for enterprises and IT departments. Industry-standard 256-bit encryption protects messages and files sent between users, and centralized cloud storage ensures that your organization's information will not be stolen or viewed by an unauthorized third party.
- Message Logging -- Robust recordkeeping is a necessity for a Sarbanes-Oxley-compliant instant messaging system. With the NetSfere platform's cloud-based storage, you gain compliance with Sarbanes-Oxley and adhere to your organization's internal data retention policies.
- Account Management -- Total management control is important for encrypted text messaging. By monitoring messaging activity and active accounts, you can track employee usage and remotely wipe sensitive data. In addition, you'll have the ability to erase inactive accounts from your system.
Encrypted Text Messaging with NetSfere
NetSfere offers a robust Sarbanes-Oxley compliant encrypted text messaging platform for enterprises across a range of industries. To learn more about the NetSfere platform, contact us at (224) 764-3400 or start your free trial today.