Abstract
Data protection is a critical area that is currently receiving much attention worldwide. Easy access to the internet and an increase in information transfer over communication networks contributes greatly to the need for data to be protected. Reports of data breaches from corporations and government institutions across the world have increased. Data breaches are mostly executed through the internet and other networks. Data loss and breaches can have significant consequences for concerned parties, such as reputational damage and litigation, when personal information is exposed to unauthorised persons. Mitigating controls, such as encryption methods, are generally implemented to protect data at rest and during transmission.
Such controls, however, are useful only when they are effective in mitigating related risk exposure.
This study focuses on investigating whether the current encryption methods being used are perceived by IT security managers from the Big Four audit firms and Dimension Data, as effective in mitigating IT security risks. Although it has been reported in the literature that specific symmetric and asymmetric encryption methods are effective, this study revealed the following:
Symmetric encryption is perceived in practice as a highly breakable method at 15%, least breakable at 75%, and rated as not yet used at 10%.
Asymmetric encryption is perceived slightly higher, as a highly breakable method at 25%, least breakable at 62%, and not yet used at 13%.
M.Com. (Computer Auditing)