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 organizing and maintaining the security of critical documents.
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 know how to keep their information secure. Every user with these files sitting on their device increases the risk that hackers might gain unwarranted access to sensitive data.
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. 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 of 2012, where users were flooded with spam to their personal email accounts after their information was shared online.
Dropbox also has a clause stating that any information hosted on the service can be accessed by a number of employees if requested for any reason.
So you’re probably asking, what’s the solution?
Solution to Risk
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, wealth management, 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 V-Rooms, we understand the tremendous risk involved in sharing and sending documents by providing dynamic watermarks, the option to restrict file downloading and printing, and DRM.
This makes it easier for businesses to run due diligence correctly, comply with regulatory authority governance and requirements, and assures that uploaded information is never sold or shared.
V-Rooms offers a variety of hosting plans in providing bank-level security with simplicity of use.
Read more about how V-Rooms can protect your sensitive information in a safe and secure collaboration space: http://www.v-rooms.com/