Attention risk managers: The 2015 cyber security trends are in

kroll | January 07, 2016

Your peers have spoken: there are a number of cyber security trends and threats that concerned them in 2015—all of which should be on your radar, too. We’ve compiled the highlights from a survey released this year by the Hartford Steam Boiler (HSB) to give you a glimpse into what risk managers across the country are currently facing

Spotlight

You're asked to build (or rebuild) a security team at your organization. What are some first steps and tips to keep in mind to maximize talent and efficiency in your new department? Josh Feinblum, VP of Information Security at Rapid7 has some advice.


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DATA SECURITY,PLATFORM SECURITY,SOFTWARE SECURITY

Next DLP Announces Cybersecurity Industry Veteran, Constance Stack, as New CEO

Next DLP | November 03, 2022

Next DLP (“Next”), formerly Qush Security, today announced the appointment of Constance (“Connie”) Stack as its new chief executive officer. With Stack leading the way, Next expects to aggressively grow its market share and disrupt the legacy Data Loss Prevention (DLP) category. The DLP market is projected to reach 3.5 Billion USD by 2025 with the SaaS deployment model expected to dominate during the forecast period. Next’s “Reveal Cloud”, which was included in Gartner’s 2022 Market Guide for Data Loss Prevention, is an industry leading, user-centric, DLP solution, that uncovers risk, educates employees and fulfills security, compliance and regulatory needs. “This is an exciting time for all of us at Next DLP,. “We are pleased to have Connie lead Next and believe her leadership will further accelerate the company’s growth and deliver on our mission of reinventing data protection for today's distributed organization.” Fredrik Halvorsen, Chairman of Next’s board of directors and co-founder of Ubon Partners Most recently, Stack served as Managing Director/GM of the Data Protection Business Unit for HelpSystems, which included the Digital Guardian, Titus, Boldon James and Vera brands. Prior to acquisition by HelpSystems, Stack served as chief strategy officer and chief marketing officer of Digital Guardian. Earlier in her career, Stack was vice president of marketing at Veracode (acquired by CA Technologies) and chief revenue officer at WordStream (acquired by the Gannett Company). “Today’s most used DLP solutions came to market over twenty years ago; before the shift to cloud and SaaS really took off and well before the COVID-19 pandemic drove global knowledge workers to a remote working model. Put plainly, legacy DLP approaches are outdated and prone to failure,” said Constance Stack, Chief Executive Officer, Next DLP. “Next DLP offers a new and flexible approach to protecting data where it is most at risk. Its patent-pending endpoint agent and cloud platform were purpose-built for today’s IT environment and threat landscape. I look forward to this opportunity to work with Next’s incredibly talented team and to deliver DLP that works to our customers.” About Next DLP Next DLP (“Next”) is a leading provider of data protection solutions for organizations with valuable data who need to uncover risk, educate employees and fulfill security, compliance and regulatory needs. Next's mission is to reinvent data protection for today's distributed organization and it is disrupting the legacy data loss prevention market with a user-centric, flexible, cloud-native, AI/ML powered solution built for today’s threat landscape. The company's leadership brings decades of cyber and technology experience from HelpSystems, DigitalGuardian, Forcepoint, Mimecast, IBM, Cisco and Shopify. Next is trusted by organizations big and small, from Fortune 100 finance and retailers to fast growing healthcare and technology companies.

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DATA SECURITY,PLATFORM SECURITY,SOFTWARE SECURITY

Fordefi Raises $18M Seed Round to Launch Institutional DeFi Wallet and Security Platform

Fordefi | November 09, 2022

Fordefi, a financial technology and software company, today announced an $18 million seed round and the public launch of its institutional MPC wallet built for transacting on decentralized applications (dApps). Led by Lightspeed Venture Partners, the investors of the firm's initial capital raise also include Electric Capital, Alameda Research, Jump Crypto, Castle Island, Pantera Capital, Illuminate Financial, PayPal Alumni Fund, Nima Capital, Digital Currency Group, Defiance Capital and StarkWare. "The Fordefi team is bringing to market a solution that addresses two of the biggest challenges in DeFi today: institutional-grade security and smart contract transparency," said Sam Harrison, Senior Advisor at Lightspeed Venture Partners and Managing Partner at Faction. "We are excited to support an experienced team bringing a powerful solution to market that directly solves pain points that have held institutions back from achieving the full potential of decentralized finance." "Wallet hacks made major headlines this year. Until now, decentralized finance was missing a secure, stable, and seamless way to connect to dApps," said Ken Deeter, Partner at Electric Capital. "Fordefi's single-browser extension paired with a top-notch institutional grade MPC wallet platform will unlock opportunities across DeFi for all crypto-native institutions. We're excited to be part of Fordefi's journey, as an investor, design partner and customer." Introducing the Fordefi Platform Co-founders Josh Schwartz, CEO, Dima Kogan, CTO, and Michael Volfman, Vice President of Research and Development, began developing the Fordefi platform in 2021, an unprecedented year for crypto adoption, as institutions took notice of the explosive growth and massive volumes of digital assets moved into the markets. A boom in the development of new blockchains and decentralized applications created opportunities for investing that institutions could not safely participate in, as available wallets had been designed years before and lacked the technology to securely and confidently connect them. "Decentralized finance is evolving quickly and its complexities require a dynamic solution," said Schwartz. "Legacy wallet providers are unable to meet the needs of institutions that want to access the new opportunities DeFi has created while ensuring their assets are protected. Fordefi has taken a DeFi-first approach and has built a solution engineered for how clients interact with dApps." "DeFi transactions are much more complex than simple asset transfers, and that's the key to DeFi's exciting new opportunities," said Kogan. "Unfortunately, this complexity also brings with it many new security risks. Fordefi enables institutions to interact with DeFi applications with increased operational efficiency and security through in-depth visibility into each transaction and the ability to set the right controls." A first of its kind wallet and security platform, Fordefi enables market participants to easily and securely connect to decentralized applications. Fordefi's platform is the only institutional MPC wallet on the market built for firms transacting on decentralized applications across blockchains. The solution delivers a previously unavailable degree of insight into transactions, translating smart contracts into language that users can understand, simulating every transaction in advance and independently verifying dApp names. Its advanced MPC key management capabilities are built to protect against any single point of failure, and the platform's unique policy management capabilities offer users the ability to create and define their own workflows, proactively protecting themselves from both internal and external vulnerabilities. "Fordefi has been a tremendous addition to our DeFi workflow. We've seen accelerated deployment efficiency across a comprehensive set of on-chain opportunities, alongside enhanced user intuitiveness and without compromising security." Shane Al, Head of Investments at Arc Capital and Fordefi design partner. "The Fordefi platform provides robust solutions for institutions to access thousands of DeFi opportunities with the highest levels of security. The platform is extremely customizable and allows us to manage our own policies and controls, ensuring a balance between flexibility and security - crucial for liquid fund strategies." Jacob Goh, Head of Operations & Investor Relations at DeFiance Capital, Fordefi investor and design partner. About Fordefi Fordefi's MPC wallet platform and Web3 gateway enables institutions to seamlessly connect to dApps across a wide range of chains while keeping digital assets secure. Fordefi is the first institutional MPC wallet and security platform built for decentralized finance (DeFi), offering MPC key management, self-serve DeFi policy controls, time-of-transaction smart contract insights, transaction simulation and risk alerts. Fordefi was founded in 2021 by crypto custody and cybersecurity experts, and designed in close collaboration with industry-leading trading firms, funds and custodians. Fordefi is a financial technology and software company with offices in New York and Tel Aviv. About Fordefi's Founders Josh Schwartz, Dima Kogan and Michael Volfman founded Fordefi after establishing themselves with decades of experience as leaders in crypto, cybersecurity, and financial services. Schwartz served as Chief Operating Officer at Curv, an institutional MPC wallet acquired by PayPal in 2021, and was Vice President of Sales at digital custody platform BitGo. Dr. Kogan's career spans more than 15 years in academia, industry and government. He received his PhD from Stanford with a specialization in applied cryptography and was awarded the "Best Young Researcher" prize at Eurocrypt 2018, the Theory of Cryptography Conference 2019, and Eurocrypt 2020. Volfman is an engineering manager with 20 years of experience in cybersecurity, serving as Vice President of R&D at Toka, was Chief Technology Officer and co-founder of an edtech startup, and a Director at Guardicore.

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SOFTWARE SECURITY

Anglepoint Launches New Public Sector Software Compliance Offering

ANGLEPOINT | December 08, 2022

Anglepoint, the leading Software Asset Management (SAM) services provider for the Public Sector and the Global 2000, has launched the Software Supply Chain Security (SSCS) offering. As mandated by Executive Order 14028, federal government agencies must complete a full audit of their software as part of widespread efforts to improve the nation's cybersecurity. The SSCS offering encompasses a pre-packaged suite of tools and support for agency compliance with the new requirements as set forth by the Office of Management and Budget (OMB) in accordance with the National Institute of Standards and Technology (NIST) under publication 800-218. "More than ever before, the government's mission to safeguard information and systems against threats and vulnerabilities sits firmly at the forefront of every agency Chief Information Security Officer (CISO). Anglepoint stands ready to assist Federal agencies in meeting all requirements as specified by the OMB security regulations in accordance with NIST 800-218 within the designated time frames. We are excited to collaborate with government agencies to meet these important milestones." -Philippe de Raet, Anglepoint's Vice President of Business Development for Public Sector clients. SSCS addresses the three major areas of the regulations that agencies must meet, including: 1) completing a software inventory, 2) developing process and training plans, and 3) attaining self-attestation from all software vendors. Anglepoint's Chief Product Officer, Kris Johnson, says, Anglepoint understands the unique security concerns faced by the US government. SSCS was carefully crafted to offer agencies a level of service in achieving compliance with these complicated regulations that is not available anywhere else. Rather than relying on already over-burdened internal teams or a patchwork of outside consultants, Anglepoint's SSCS experts take agencies through each step necessary to achieve compliance while adhering to the quick succession of deadlines. ABOUT ANGLEPOINT: Anglepoint is the leading provider of SAM & ITAM services to the Fortune 500 & Global 2000. Anglepoint's services drive cost optimization, risk mitigation, strategic planning within the cloud, SaaS, enterprise software and hardware estates of complex hybrid IT environments. We deliver comprehensive managed services including SAM strategy, execution, process automation, technology selection and implementation.

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DATA SECURITY,PLATFORM SECURITY,SOFTWARE SECURITY

Abnormal Security Redefines Cloud Email Security with the Launch of Security Posture Management to Protect Against Email Platform Attacks

Abnormal | November 16, 2022

Abnormal Security, the leading behavioral AI-based security platform, announced today its newest addition to the product portfolio as the company progresses toward delivering the most comprehensive cloud email security in the market. The latest innovation protects customers from emerging email platform attacks that are increasing in volume and severity as attackers find new ways to target organizations. The open, interconnected nature of cloud email platforms creates new entry points for attackers to exploit and manipulate—increasing the need for security tools that protect organizations from attacks beyond those that are delivered through inbound email. While advanced inbound email attacks like business email compromise and credential phishing remain the primary cloud email attack vector, accounting for $43 billion in exposed losses since 2016, this addition to the Abnormal product portfolio expands the capabilities of cloud email security to protect against side-channel attacks that directly target the entire email platform. In recent headlines, cybercriminals have exploited unguarded entry and exit points to carry out sophisticated platform attacks, including: Compromising user and administrator accounts by bypassing MFA policies Exploiting global administrator privileges by setting up tenant-wide email forwarding rules that send company emails to attacker inboxes Tricking employees into installing malicious OAuth applications through consent phishing email links disguised as file-sharing links These examples showcase the need for security tools that can detect changes to the cloud email environment and provide full visibility into the current posture. But because security teams often share responsibility for these platforms alongside IT and messaging teams, it is operationally difficult and manual to understand the full scope of potential configurations across thousands of users, third-party applications and email tenants, and manage them accordingly. “As we’ve spoken to our customers, we’ve heard increasing concerns about this next generation of attacks. Since they have implemented Abnormal to secure the inbound channel against advanced attacks such as BEC, attackers are looking for new ways to access their inboxes and email platforms. “Implementing a solution that can alert security teams to new integrated applications, over-permissioned users, and other potentially risky events will be extremely helpful to security leaders, and Abnormal is excited to evolve our inbound email security platform to provide this capability and better protect our customers from the full spectrum of attacks.” Mike Britton, chief information security officer at Abnormal Security The new Security Posture Management product from Abnormal gives security teams immediate visibility to each of the potential entry and exit points to the cloud email platform. Increased visibility begins with three new Knowledge Bases, in addition to the existing VendorBase, which present comprehensive databases of employees, third-party applications, and email tenants. Each of the three new Knowledge Bases provides the foundational visibility security teams need to understand potentially exposed surface areas in Microsoft 365 and conduct security investigations. AppBase: Provides a running inventory of all of the third-party applications that have access to data within Microsoft 365. It provides a summary of important information about application permissions and data access, as well as an activity timeline of recent events. PeopleBase: Provides a directory of each active user in the environment. It uses contextual, behavioral data to build a dynamic user genome. PeopleBase also provides an activity timeline of recent events, including sign-on patterns, suspicious email activity, and more. TenantBase: Provides a catalog of each of the email tenants Abnormal Security protects and relevant permissions governing access to them. Taking the information derived from these Knowledge Bases, the new Security Posture Management product then monitors each entity for potentially risky configuration changes. Key changes may include the escalation of administrator privileges or the integration of new unverified applications with read-write access to mailboxes. When changes occur, Security Posture Management alerts administrators so they can understand the impact and take appropriate downstream action to protect their cloud email platform from insider threats or attacker infiltration. While the monitoring and alerting capabilities of Security Posture Management are available as an add-on purchase to Inbound Email Security, Abnormal is providing the foundational visibility of its new Knowledge Bases at no cost to all customers with Microsoft 365. New Product Continues to Drive Abnormal Growth in the Email Security Market The posture management offering underscores Abnormal’s commitment to providing its customers with the most effective email security platform on the market. In recent weeks, Abnormal was named to the CNBC Top 25 Startups for the Enterprise list of companies that are best suited to meet the needs of large enterprises, as well as the Madrona Intelligent Applications 40 list for the platform’s superior capabilities in using machine learning to extract useful information from real-time and historical data. These awards highlight the continued success of the company as Abnormal continues to experience more than 2x growth per year, with notable customers including Xerox, Urban Outfitters, Royal Caribbean International, and Groupon. The company maintains a 4.8-star review on Gartner Peer Insights, with 100% recommendation from participating companies. This continued growth is driven by the recent Series C funding round in which Abnormal raised $210 million with backing from Insight Partners, Greylock Partners, and Menlo Ventures. Security Posture Management is the second major product launch in the past six months, with Abnormal releasing the Email Productivity module in August 2022. The Email Productivity add-on uses behavioral AI to filter time-wasting promotional emails away from employee and executive inboxes, automatically personalizing protection to each user based on behavior cues like folder moves. By shielding employees and executives from the growing barrage of promotional emails, including vendor cold calls, newsletters, and marketing promotions, Email Productivity saves enterprises multiple hours per employee per month. Both new products are part of the Abnormal Cloud Email Security platform, which stops the full spectrum of email-borne attacks. About Abnormal Abnormal Security provides the leading behavioral AI-based security platform that leverages machine learning to stop sophisticated inbound email attacks and dangerous email platform attacks that evade traditional solutions. The anomaly detection engine leverages identity and context to analyze the risk of every cloud email event, preventing inbound email attacks, detecting compromised accounts, and remediating emails in milliseconds—all while providing visibility into configuration drifts across your environment. You can deploy Abnormal in minutes with an API integration for Microsoft 365 or Google Workspace and experience the full value of the platform instantly.

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Spotlight

You're asked to build (or rebuild) a security team at your organization. What are some first steps and tips to keep in mind to maximize talent and efficiency in your new department? Josh Feinblum, VP of Information Security at Rapid7 has some advice.

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