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Lessons Learned From The Panama Papers…. Why were the Wealthys Secrets Exposed?

Lessons Learned From The Panama Papers... Why were the Wealthys Secrets Exposed?

Edward Snowden called it: "The Biggest leak in the history of data journalism!" The electronic hacking of Panama Law Firm Mossack Fonscesa and subsequent release of 38 years of 11.5 Million documents from 214,000 offshore companies owned by some of the worlds rich, powerful and elite in over 200 countries is mindblowing!

The far reaching effects of the Panama Papers will have MASSIVE consequences for the individuals involved who have had their private financial affairs made public simultaneously by over 100 world news organizations.

No one cares that the data was stolen, no one cares that peoples confidential asset holdings, transactions, bank accounts and business that were all supposed to be private are now public and being debated by newspapers, radio and TV. No one is talking about an investigation into who stole the data, they are only talking about investigations into the celebrities, sports stars, TV Stars, politicians and billionaires who are featured in the data!

The list of names who have had their privacy breached is the whos who of global power players..... The media frenzy is inexhaustible and the hugely damaging financial effects of the Panama Papers disclosure will be significant for the all parties involved.

Many will incur significant financial losses because their confidential business structures have in an instant become public! There will be lawsuits, costs in establishing and moving assets to new safer private structures, damaged reputations and a myriad of other consequences and fallout.

So why are we discussing this on our website? Why is the Panama Papers relevant to Secure Platform Funding?

Privacy, Confidentiality, Protection of Clients Data and Encryption are cornerstones of our business. We take the protection of clients information, transactions, and funds very very very seriously. So here are the Lessons Learned from the Panama Papers.....

Mossack Fonscesa's Catalog of Security Failures...

  • Mossack Fonscesa's website was peppered with security holes including the fact they used an old outdated version of WordPress that was known to contain some security vulnerabilities.
    • Secure Platform Fundings website automatically installs and applies the latest security patches and updates, we want to fully protected and on the cutting edge of security defense for our clients.
  • The Mossack Fonscesa Customer Portal was most likely run on a three-year-old version of Drupal, 7.23. That platform has at least 25 known vulnerabilities at the time of writing, two of which could have been used by a hacker to upload their own code to the server and start hoovering up data. Back in 2014, Drupal warned of a swathe of attacks on websites based on its code, telling users that anyone running anything below version 7.32 within seven hours of its release should have assumed they’d been hacked. That critical vulnerability may have been open for more than two-and-a-half years on Mossack Fonseca’s site.
    • Secure Platform Funding does not operate a Online Customer Portal we keep the segregation of our web site and client data complete separate!
  • Mossack Fonscesa seems to have had ZERO Hard Drive or database encryption. If Mossack Fonscesa's client files were held on a secure encrypted server with standard password and encryption protections then there would have been nothing for the hackers to steal! It seems incredible that 38 years of records lay around the office, unprotected and unencrypted in this modern day.
    • Secure Platform Funding has every one of our computers hard drives and every cellphones memory completely encrypted with passwords, protections and barriers in place to protect clients data. We protect your back, we lock the data, lock the front door, and take your information's protection seriously
  • The very worst thing of all is Mossack Fonscesa didn't even know that had been hacked and had 2.6TB of data stolen! It is mindblowing that in early April Mossack Fonscesa said they had a privacy breach of a "limited" number of clients. There is NOTHING limited about 38 years, 214,000 companies, emails, photos, passports, PDF files and other documents, this was a massive hack. The sad truth is Mossack Fonscesa had no idea what had been stolen and anyone that has downloaded 2.6TB of data knows that it takes a very long time to be able to access and move that volume of data. This was quitepossibly the worlds longest hack with data being siphoned off from Mossack Fonscesas servers over months not days or weeks.... and Mossack Fonscesa did not even know!

The icing on the cake is Mossack Fonscesas web site boasting "Mossack Fonscesa has always provided our clients with the most secure technology available". Sadly now 214,000 company owners know that is NOT TRUE!

Conclusion....

When you are dealing with peoples wealth, you are dealing not with their money but with their lives, their reputations and their right to privacy! Every person that handles an individual or companies personal and financial data needs to take all necessary precautions to honor the information he has been entrusted with and protect it.

The Mossack Fonscesa data theft should never have happened! They handled the financial affairs of some of the most powerful and prominent people on the planet, their clients had a right to expect they would be protected, they had a right to privacy and they had a right to expect some of the large fees Mossack Fonscesa charged would be invested to protect their data.

Clients of Mossack Fonscesa were horribly let down because of laziness and Mossack Fonscesa's failure to treat client data security with the priority, attention, and urgency it deserved. You only get one chance to do things right, Mossack Fonscesa blew their chance!

At Secure Platform Funding we are focused like a laser on security, protection, encryption and defending clients privacy. Our business recognizes that our success depends on our clients confidentiality and security. We might be a little bit fanatical about the layers of protection we put in place to protect clients data, but we would rather be guilty of doing too much, than guilty like Mossack Fonscesa of doing too little!

We want clients, brokers, banks and finance companies to deal with us in confidence knowing that we understand the value of their relationship has to our business and we match that value with how we protect, defend and nurture client data.

If you don't want to appear on the next 6pm TV News Headline which features he next big list of hacked financial records, then..... use Secure Platform Funding, we have your back, we understand the importance of your privacy and we have done everything possible to minimize your risk and protect your integrity.

Peace of mind is priceless! Use Secure Platform Funding with Confidence!

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Lessons Learned From The Panama Papers…. Why were the Wealthys Secrets Exposed? 2016-04-06T21:50:56+00:00 2017-04-11T20:48:37+00:00 Bruce Green
Bruce Green :