What is encryption and how does it work?
Encryption is the process of scrambling data according to a mathematical formula or algorithm so that the data is unintelligible to all but the intended recipients. Currently, there are three levels of encryption generally available in web browsers: 40-bit, 56-bit, and 128-bit encryption. The 128-bit browser offers the highest level of encryption generally available today and provides the best protection when transmitting confidential data over the Internet. Investors Group uses Secure Socket Layer (SSL) to secure each transmission sent over the Internet so that it cannot be read without the proper authentication. It is recommended that you use a browser with 128-bit encryption but lower encryption rates will work as well.
Encryption is a data encoding process that ensures the security of the transmitted data. To be able to read an encrypted file, the client must have access to a secret key protected by a password to decode the information. In other words, regular text is converted into scrambled code (illegible text) during transmission, and is decoded into legible text at the reception point. The two most widely used encryption levels are 40-bit and 128-bit. Given the importance of your financial information, we have opted for 128-bit encryption, one of the most secure systems currently available on the North American market.
While the word “encryption” may call to mind images of spies and international intrigue, today you can purchase encryption programs for your computer. Encryption translates a message or data file into code that makes it unintelligible to anyone not authorized to read it. Decryption returns the message or data to readable form.
Encryption scrambles into unreadable format the data you send through the secured environment of Internet Banking. The account numbers, transactions and information are encrypted or scrambled to prevent hackers from reading or intercepting the data. In the secured server of Internet Banking, the data is then reverted to its original format for interpretation and fulfillment. The encryption process is also true for the data you receive from us.
