In industries as complex and regulated as Fintech and Healthtech, safeguarding sensitive data isn't just a priority—it's a fundamental responsibility. Yet, despite the rigorous security protocols in place, the unintentional sharing of sensitive data externally remains a threat to data privacy and security.

Within your organisation, teams collaborate everyday on critical documents stored in SaaS applications, like Google Drive. For Fintech companies, this may be confidential client portfolios while employees at a Healthtech organisation could be handling detailed patient health records.

However, mistakes happen.

For instance, a document intended for internal employees finds its way into the hands of external parties due to human error. The consequences are severe: compromised confidentiality, regulatory violations, financial penalties, and damage to organisational reputation.

But should we abandon the convenience of SaaS platforms altogether to mitigate these risks?

Absolutely not!

🎥Metomic's External Sharing Detection Feature

Understanding the critical nature of safeguarding sensitive data across highly regulated industries, Metomic introduces its External File Sharing Detection and Remediation feature tailored for organisations operating in highly regulated sectors.

This feature empowers organisations to proactively monitor and control file sharing activities within Google Drive, consequently mitigating the risk of unauthorised data exposure. Leveraging advanced algorithms and real-time scanning capabilities, Metomic identifies instances where sensitive data is shared externally, enabling prompt remediation and reinforcement of data protection protocols.

Avoidable Risks:

1. Regulatory Violations: Organisations in highly regulated industries are subject to stringent data protection regulations such as GDPR, HIPAA, and PCI DSS requirements. Accidental external sharing of sensitive data can lead to non-compliance with these regulations, resulting in substantial fines and legal consequences.
2. Data Privacy Breaches: The unauthorised exposure of sensitive data jeopardises the privacy and security of individuals' personal and confidential information. Accidental external sharing can lead to data breaches, identity theft, and financial fraud, eroding trust in the organisation and causing irreparable harm to individuals affected.
3. Reputational Damage: Organisations rely on their reputation and trustworthiness to attract customers, investors, and partners. Accidental data exposures tarnish the organisation's reputation, leading to loss of business opportunities, diminished market credibility, and long-term brand damage.
4. Delayed Detection: Without proactive monitoring and detection mechanisms like Metomic, accidental external sharing incidents may go undetected for extended periods, exacerbating the impact of the breach and increasing the likelihood of regulatory scrutiny and legal liabilities.

So, as you navigate the intricate terrain of data protection in your industry, consider how Metomic's External File Sharing Detection feature can empower your organisation to safeguard sensitive data and uphold regulatory compliance. The answer lies in taking proactive steps towards data protection and embracing innovative solutions that prioritise the human element of security.

🔒Protect Sensitive Data in Google Drive: Request a Metomic Demo Today

When you integrate your SaaS applications with Metomic, you’ll have access to out of the box classifiers that detect sensitive data such as credit card numbers, bank account numbers, email addresses, and more.

You’ll also have the option to create your own custom classifiers to protect sensitive data that matters to your organisation.

To find out more about how Metomic can secure your Google Workspace and other SaaS apps, request a demo with one of our security experts today.