The group behind TrueCrypt in May announced that the popular encryption software is no longer secure and may contain unfixed security issues. The announcement came in May, less than one month after Microsoft ceased its support for Windows XP.
Up until its demise, TrueCrypt had been considered among the best in free, open-source encryption software. It has also been fairly popular with financial institutions. A quick survey by Safe Systems indicated TrueCrypt was installed on more than 400 devices at community banks and credit unions. If yours is one of the institutions still using TrueCrypt, now might be a good time to start looking for alternative encryption software. According to TrueCrypt’s page on source code repository SourceForge: “The development of TrueCrypt was ended in 5/2014 after Microsoft terminated support of Windows XP. Windows 8/7/Vista and later offer integrated support for encrypted disks and virtual disk images. Such integrated support is also available on other platforms (click here for more information). You should migrate any data encrypted by TrueCrypt to encrypted disks or virtual disk images supported on your platform.” The page goes on to recommend users should download the no-longer-supported software only if they need to migrate data encrypted by TrueCrypt.
TrueCrypt is currently recommending users migrate to Microsoft’s BitLocker, and provides instructions on how to migrate data. Since the announcement that TrueCrypt is no longer supported, several other encryption software providers have jumped on the opportunity to promote their own technology. While any encryption software has its advantages and disadvantages, it’s worth doing a little research to make sure the one you choose fits your institution’s needs and has the continued support of its manufacturer. As TrueCrypt has demonstrated, even the most heralded technology can sometimes fall apart.
If your institutions is currently using TrueCrypt on any of its devices, and would like to learn more about the alternatives, feel free to contact Safe Systems at email@example.com or 877-752-0550.