HITRUST | December 18, 2021
HITRUST today announced it is addressing the need for a continuously-relevant cybersecurity assessment that aligns and incorporates best practices and leverages the latest threat intelligence to maintain applicability with information security risks and emerging cyber threats, such as ransomware. The design and selection of the controls for the HITRUST Implemented 1-year (i1) Assessment puts it in a new class of information security assessment that is threat-adaptive – designed to maintain relevance over time as threats evolve and new risks emerge, while retiring controls no longer deemed material.
Most existing assessment approaches are not designed to keep pace with current and emerging threats; those that do, rely heavily on broad control requirements that raise questions about suitability of control and consistency of review that ultimately impact reliability of results. In contrast, HITRUST identifies information security controls relevant to mitigating known risks and leverages cyber threat intelligence data to influence the selection – and where necessary, updating – of technically-focused HITRUST CSF requirements included in the HITRUST i1 Assessment. As a result, the HITRUST i1 Assessment includes controls selected to address emerging cyber threats active today.
“The HITRUST i1 Assessment is unique in both selection of controls and the design of its assurance program. Effort towards completion is comparable to other moderate assurance vehicles while delivering a higher level of reliability,”
Jeremy Huval, HITRUST Chief Innovation Officer
The HITRUST i1 Assessment is the first information security assessment of its kind with attributes not available through other assurance programs:
Designed to maintain relevant control requirements to mitigate existing and emerging threats and provide updates as new threats are identified (It is threat-adaptive, prescriptive, and focused on controls relevant to risk)
Designed to sunset controls that have lost relevance and have limited assurance value based on effort required to comply or assess
Its unique controls selection and assurance program design deliver a higher level of reliability than other moderate assurance options
The level of time and effort to complete is comparable to other moderate assurance options in the market
Offers a forward-looking, 1-year certification
As the HITRUST i1 was designed around relevant information security risks and emerging cyber threats, it is not surprising it provides coverage for numerous standards, such as NIST 800-171, GLBA Safeguards Rule, HIPAA Security Rule, and Health Industry Cybersecurity Practices (HICP).
HITRUST will evaluate security controls and review threat intelligence data no less than quarterly, and for each subsequent major and minor release of the HITRUST CSF, to ensure the HITRUST i1 Assessment requirement selection remains relevant over time. Guidance documents will also drive enhancements to the HITRUST CSF and HITRUST i1 Assessment control sets as needed. While the HITRUST i1 Assessment is intended to adapt and evolve to maintain relevance, it’s important to note that HITRUST i1 Assessment certified organizations will not be impacted by changes to the HITRUST i1 Assessment control requirements until their next HITRUST assessment cycle.
HITRUST is hosting a webinar at 11 a.m. CT on Thursday, February 3, 2022, to discuss the HITRUST Implemented 1-year (i1) Assessment in more detail. To register, and for more information, click here: Next Generation HITRUST Information Security Assessment Focuses on Continuous Cyber Relevance
Since it was founded in 2007, HITRUST has championed programs that safeguard sensitive information and manage information risk for organizations across all industries and throughout the third-party supply chain. In collaboration with privacy, information security, and risk management leaders from the public and private sectors, HITRUST develops, maintains, and provides broad access to its widely adopted common risk and compliance management frameworks as well as related assessment and assurance methodologies.
NETWORK THREAT DETECTION
SilverSky | January 11, 2022
SilverSky, a cybersecurity innovator offering powerful managed detection and response (MDR) services, today announced it completed the acquisition of Burlington, Massachusetts-based Cygilant.
As a leading cybersecurity-as-a-service provider, Cygilant operates a security operation center (SOC) in Belfast, Northern Ireland and also boasts some of the world's most notable Ph.D.-level talent focused on cybersecurity, advanced networks and data science. The addition of Cygilant's UK-based delivery center complements the current SilverSky footprint in Asia and North America while expanding SilverSky's access to European markets.
In October 2021, SilverSky announced that ITOCHU International, Inc., the North American flagship company of Tokyo-based ITOCHU Corporation, made a strategic investment of $31.5 million in SilverSky. Additionally, in August 2021, SilverSky announced the completed acquisition of New Jersey-based Advanced Computer Solutions Group, LLC (ACSG) which added a notable customer base within the U.S. education sector and marked the company's first acquisition in a series of planned growth opportunities.
"Alongside our recent growth-related announcements, this acquisition of Cygilant, a cybersecurity-as-a-service and threat-intelligence powerhouse, helps to further galvanize our efforts to globally expand the SilverSky presence as well as retain and nurture some of the industry's best cybersecurity and data science talent," said Richard Dobrow, CEO at SilverSky. "Cygilant shares our commitment to rich-service offerings that are unmatched in the industry. We're pleased to welcome the Cygilant team and their customers."
"We are excited to join SilverSky,This represents a significant next-chapter of the Cygilant journey, as our innovative SOC capabilities and deep bench of cybersecurity expertise are combined with one of the industry's most comprehensive MDR offerings. The outcome for our customers will be access to the collective set of broader managed services that will continue to enrich their cyber protections and strengthen their security posture."
Rob Scott, CEO and President at Cygilant who will be joining SilverSky as its Chief Strategy Officer
Organizations of all sizes face the same cybersecurity threats, compliance mandates, and business risk as Fortune 500 companies. SilverSky levels the playing field and enables companies, regardless of their size, to access enterprise-grade cybersecurity to meet regulatory requirements, proactively respond to threats, and rapidly reduce risk. SilverSky offers one of the most comprehensive managed detection and response (MDR) solutions in the industry. Delivered as a managed services model, SilverSky MDR makes powerful cybersecurity simple, affordable, and accessible to organizations of all sizes and across industries. Customer environments are monitored 24x7x365 by highly skilled security operations analysts in SilverSky SOCs, which were developed based on military-grade security and are powered by the latest integrated technology. SilverSky has more than 20 years of operational cybersecurity success defending thousands of customers in some of the most demanding industry sectors.
SecurityScorecard | April 27, 2022
SecurityScorecard, the global leader in cybersecurity ratings, today introduced its Cyber Risk Quantification (CRQ) capabilities that will enable customers to understand cyber risk in financial terms, enabling organizations to bring cyber risk into holistic business risk analysis, and assisting organizations in a cost-benefit analysis of cyber investment options. SecurityScorecard's CRQ capabilities help customers understand the financial impact of a cyber-attack, gain insight into the probability of incidents over time and quantify the reduction in expected losses if issues are resolved. The SecurityScorecard CRQ capabilities will be included in the company's risk intelligence platform, the industry's first holistic offering that proactively protects organizations from every angle.
"Executives and boards of directors lack the ability to connect cybersecurity budgets to business outcomes, hindering the CISO's ability to justify their cybersecurity budgets. By grounding risk quantification in SecurityScorecard's expansive data, we are bringing cyber security to the forefront of daily decision making. Our goal is to help our customers make informed decisions on how to raise the bar on their cybersecurity defenses with optimized investments, and we will continue to partner with leading CRQ thought leaders to provide the options they are looking for."
Prashant Pai, Senior Vice President and General Manager Strategic Initiatives, SecurityScorecard
To deliver the combined insights of SecurityScorecard's cybersecurity ratings data and leading risk models, SecurityScorecard is partnering with a number of leading CRQ thought leaders and developers including ThreatConnect, and RiskLens, which created Factor Analysis of Information Risk (FAIR™). With multiple views of risk available through the lens of different CRQ frameworks, risk managers can determine which framework is the best fit for their business.
With cyber risks becoming increasingly prevalent, boards of directors and executives need to evaluate those risks and become more involved with cybersecurity. Effectively reporting to the board is a key component of every security leader's job.
According to Gartner® The 2022 Board of Directors Survey, 88% of respondents viewed cybersecurity as a business risk, while 72% stated they are focused on aligning risk, strategy and performance to drive business resilience.1
"The CRQ integration between RiskLens and SecurityScorecard will finally give organizations of all sizes what they need to effectively understand and manage cyber risk: an automated, 'dollars and cents' view of cyber risk," said Nick Sanna, CEO, RiskLens. "Based on the FAIR cyber risk quantification standard, on industry benchmark data and on their SecurityScorecard security rating, organizations can now make risk-informed business decisions."
"ThreatConnect is excited to partner with SecurityScorecard as the combination of their external cybersecurity risk posture and the power of ThreatConnect Risk Quantifier (RQ) connects the outside and inside views for an organization, giving them a 360 degree perspective of the risk to their organizations," said Jerry Caponera, Vice President of Cyber Risk Strategy for ThreatConnect. "Applying ThreatConnect's statistical and machine learning algorithms to the SecurityScorecard data enables customers to easily visualize their risk and, more importantly, prioritize which factors should be improved based on financial risk reductions."
SecurityScorecard's CRQ portfolio enables executives, CISOs and risk managers to obtain a comprehensive view of their cyber risk that enables them to define cyber risk in a universally understood metric and embed those insights into decisions across the organization.
SecurityScorecard's CRQ capabilities also offer:
Scalable risk quantification methodology - With continuous monitoring of over 12 million companies, SecurityScorecard grounds its analysis in a consistent cybersecurity data-driven approach to deliver a real-time view of risk.
Contextualized view of cyber risk - SecurityScorecard directly ties financial impact to the security issues that drive losses.
Multiple risk quantification frameworks– Multiple risk frameworks are integrated into the CRQ capabilities to ease the evaluation and implementation of CRQ.
Funded by world-class investors including Evolution Equity Partners, Silver Lake Waterman, Sequoia Capital, GV, Riverwood Capital, and others, SecurityScorecard is the global leader in cybersecurity ratings with more than 12 million companies continuously rated. Founded in 2013 by security and risk experts Dr. Aleksandr Yampolskiy and Sam Kassoumeh, SecurityScorecard's patented rating technology is used by over 30,000 organizations for enterprise risk management, third-party risk management, board reporting, due diligence, cyber insurance underwriting, and regulatory oversight. SecurityScorecard is the first cybersecurity ratings company to offer digital forensics and incident response services, providing a 360-degree approach to security prevention and response for its worldwide customer and partner base.
Flashpoint | January 13, 2022
Flashpoint, the trusted leader in threat intelligence and risk prevention, today announced it has acquired Risk Based Security (RBS), a Richmond, Virginia-based company specializing in vulnerability and data breach intelligence, as well as vendor risk ratings. The integration of RBS’s collections and technology into the Flashpoint platform offers a wide range of cybersecurity practitioners—including cyber threat intelligence (CTI), vulnerability management, DevSecOps, and vendor risk management teams—the contextual threat intelligence and automation they need to detect, prioritize, and thwart emerging cyber risks rapidly and holistically.
“I am incredibly excited to welcome the RBS team to Flashpoint,This acquisition will enable our clients to rapidly detect critical vulnerabilities before they are widely known, and then automate how they prioritize and remediate these issues. This is a game changer for security teams and represents a vital step towards achieving Flashpoint’s vision of being the single vendor that enterprises can rely on to mitigate all types of security risks and protect critical assets.”
Flashpoint CEO Josh Lefkowitz
Since its founding in 2011, Risk Based Security has partnered with a diverse group of clients, including Microsoft, BlackRock, Northrop Grumman, Swisscom, American Electric Power, Amtrak, and numerous other enterprises across the technology, financial, insurance, and consumer goods sectors. To date, RBS possesses over 90,000 vulnerabilities in its collections that are not assigned CVE IDs and therefore do not exist in the National Vulnerability Database (NVD). RBS’s proprietary technology consistently identifies vulnerabilities before they are commonly known—and maps those vulnerabilities to an enterprise’s software—providing clients with a critical edge and head-start on potential adversaries.
“We’re thrilled to join forces with Flashpoint,” said Jake Kouns, CEO of RBS. “It’s rare to find two organizations so similar in culture with a mutual drive to get things done. Our visions align perfectly, and we are excited to collaborate with them to bring a holistic, risk-based intelligence offering to a broad market.”
AN ASSET-BASED APPROACH TO INTELLIGENCE AND RISK MANAGEMENT
RBS’s extensive vulnerability, data breach, and proprietary vendor risk ratings empower security teams to quickly assess and remediate vulnerabilities based on their unique risk profile—making it the only vulnerability management tool on the market that provides scanless, real-time vulnerability intelligence with vendor and product risk ratings. With this technology, Flashpoint will be able to reveal a customer’s exposure to critical vulnerabilities and supply chain weaknesses, provide contextual awareness into how these vulnerabilities are being exploited by threat actors, and prioritize and automate the actions needed to remediate potential threats.
In light of recent critical vulnerabilities like the highly-publicized disclosure of Log4j, early detection and rapid prioritization of risks is more important than ever. Moving beyond a reactive approach to threats, a combined Flashpoint and RBS solution will drive immediate and differentiated value to all types of security practitioners who are focused on protecting critical assets and infrastructure.
Trusted by governments and the Fortune 500, Flashpoint helps organizations protect their most critical assets, infrastructure, and stakeholders from security risks such as cyber threats, ransomware, fraud, physical threats, and more. Leading security practitioners—including cyber threat intelligence (CTI), vulnerability management, DevSecOps and vendor risk management teams—rely on Flashpoint's intelligence platform to proactively identify and mitigate risk and stay ahead of the evolving threat landscape.
ABOUT RISK BASED SECURITY
Risk Based Security (RBS) provides detailed information and analysis on Vulnerability Intelligence, Vendor Risk Ratings and Data Breaches. Our product, the Risk Based Security Platform, combines VulnDB and Cyber Risk Analytics (CRA), providing organizations access to the most comprehensive security intelligence knowledge bases available, including advanced search capabilities, access to raw data via API, and email alerting to assist organizations in taking the right actions in a timely manner.