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Technologies Review | October 23, 2017

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Backup Software for Hedge Funds

All businesses in this technology driven world are subject to the potential disaster of data loss. Organizations that work with other people’s money, like hedge funds and banks, have to be particularly guarded against cyber attacks.

Remember how easy it was for Bane to rip off the Gotham stock exchange in The Dark Knight Rises? That scenario isn’t too far removed from real life, minus the psychopathic masked assassin. Due to the nature of the money that hedge funds manage (pensions, university endowments etc.), they must be particularly mindful of potential attacks and data loss; in the hedge fund game one mistake could mean the loss of millions of dollars. As a result, hedge funds have had to move toward many diffuse and layered forms of digital security. Backup software is always a good idea for people who hold sensitive information, and an essential safeguard for organizations that work in the digital transfer of money.

The Role of the Backup Software System in the Cloud

As our physical world continues to migrate onto the Internet, personal information is exposed to the danger of cyber attacks or data loss. An information disaster can be defined as any event (be it a hurricane, an earthquake or a storage-room power outage) that threatens the integrity of file security. These disasters have always been a part and parcel of life in technology. However, there are a few looming and imminent threats to general storage security. To use the example of one such threat, let’s take a closer look at cyber terrorism.

Cyber Terrorism: Far-fetched, but not as much as you might think

Cyber terrorism can come in many forms. Although these attacks are rare occurrences, they’re realities with which to be reckoned. As global interaction continues to defragment, information and data storage will become more accessible and vulnerable. To give a forecast: the outlook on the prospect of retaining and protecting information on one basic server is bleak (in the least).

Official U.S. government advisory boards are redefining outdated definitions of “cyber terrorism.” And, as cyber terrorism as defined by the U.S. government changes, more time and more resources will be spent on protecting against these acts and developing salvage procedures.

Let’s localize the threat to get a more pronounced feel of the prospect of inadequately protected files. Perhaps you can’t see a reason why someone would target your relatively small, innocuous business. You only have to look at the Anonymous attacks on sites owned by Go Daddy to see an example of small businesses getting caught in the crosshairs of larger corporations and larger ideals.

Another way to think about it is that you potentially have a lot of important customer data stored. It could be everything from credit card numbers to addresses or emails. Whatever your customers have given you, though, is your duty to protect. Use security measures to keep it safe, and backup programs to keep it no matter what.

The Growing Importance of Storage Back-up Systems

The lack of sustainability in traditional file storage methods is becoming more of a reality over the wide world of tech-dependent entities. In short, we’re becoming more vulnerable to technological threat as we advance in technology. Our personal files need to be secured in order to protect our customers and ourselves.