Is Dropbox Safe For Storing Investor Relations Info?

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Private information about your company and/or your investors should be protected and kept as secure as possible.

As there has been an increase in cloud-based services, we should all be asking, “Are my files truly secure in the cloud?” One service many people use, is called Dropbox. When I say many, I mean over 50 million people.

If you are in the world of I.T., you know of the horrifying tales of security issues that have happened from time to time with dropbox. At one point, anyone who had your email address could access all of your files “safely” stored in the cloud. The truth is that you will never be 100 percent safe with any solution you use. Paper can burn, external hard drives can die, and cloud-based services can leak. However, I would never use a cloud based service to store anything I wouldn’t want someone else to see.

Don’t get caught up in the frenzy and forget the need for safety.

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One response to “Is Dropbox Safe For Storing Investor Relations Info?

  1. Dropbox, the fast-growing private company that lets you share documents easily online, continues to experience significant security breaches in its service, announcing this time that some user usernames and passwords were stolen “from other websites,” and their accounts accessed.

    It also said that an account of one of its employees was broken into, and that it believes user email addresses were stolen from a document accessed from that account.

    The news follows two other high-profile instances of security problems at the company. A year ago, Dropbox disclosed that all of its users’ files were publicly accessible for nearly four hours due to a bug in the company’s authentication mechanism. During that time, anyone could access a Dropbox account without using the correct password. And in April, a security hole was discovered in Dropbox’s iOS app, which allowed anyone with physical access to your phone to copy your login credentials — because it stored user login information in unencrypted text files.

    It’s a shame, because Dropbox has had amazing momentum in an increasingly competitive space. Dropbox boasts more than 50 million users, double what it had last year, but reports like this could slow it down.

    Larger, more conservative companies are more likely to say no to adopting it. Even before the breach last year, the company had announced that it was dedicated to security, so it’s getting hard to take the company seriously.

    With this third breach, Dropbox has become a problem child among chief information officers. Already, at our CloudBeat 2011 event last year, Dropbox’s big security snafu in June of that year was one of the most oft-cited examples of the security risks in moving to the cloud. These CIOs are busy scrutinizing cloud services to make sure they are safe for adoption. And by and large, CIOs are giving the green light to applications that are served online, especially if they play safely, and behind the firewall.

    To be sure, Dropbox has been pretty clear that it intends to remain focused on viral adoption by consumers and that it isn’t focused on the enterprise. It’s also obvious, though, that many users are adopting Dropbox for use in the workplace (we use Dropbox at VentureBeat, among several other products, including the more enterprise-focused Box, for example). And Dropbox also probably has a Trojan-horse strategy to sneak into the enterprise by way of avid users who lobby their employers to be able to use it.

    Regarding the latest breach, the company said someone had stolen usernames and passwords and used them to sign in to a “small number of Dropbox accounts.” The company said it has contacted these users and helped them to secure their accounts. The company had launched investigations into the accounts after some users reported receiving spam. The company said it has put “additional controls in place to help make sure it doesn’t happen again.”

    This was taken from a VentureBeat article. I’d research Dropbox before I’d trust it with important documents.

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