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Goldman Sachs signs DRM deal

Bank deploying software designed to encrypt confidential documents, control access no matter where they travel.

Global investment bank Goldman Sachs has signed a deal for digital rights management software to protect its confidential documents from unauthorized access. The software, from U.S. vendor Liquid Machines, allows the bank to encrypt documents so it can control access regardless of where the data travels. Document authors can define what users can and cannot do with the information, providing protection against loss, theft or modification.

A Goldman Sachs employee could control who might open, read, forward or print a file irrespective of the user or file's location. For example, an employee could see if someone was attempting to open the document from home. Authorized users are still able to cut, copy or paste data to other applications, with the data remaining protected. The value of the deal was not disclosed. Goldman Sachs is an investor in the privately held company.

Munir Kotadia and Steven Deare of ZDNet Australia reported from Sydney.