Personally Identifiable Information (PII) also known as personal data and Protected Health Information (PHI) have become a favorite target of hackers, protecting customers’ PII and PHI with tokenization prevents fraud and identity theft. TokenEx can tokenize any type of data, so PII, PHI, PCI, ACH, etc. can be safely vaulted away from business systems and replaced with tokens that are mathematically unrelated to the original data and, thus, useless to data thieves. Tokenization offers virtually unlimited flexibility in how you store, access, and secure your sensitive data sets.
The most obvious danger of not properly securing PII and PHI is the loss of privacy suffered by the individuals whose data is compromised. This in turn, can have significant repercussions for the responsible organization. Beyond the loss of reputation and consumer confidence, the fines and settlement costs can potentially be devastating.