DATA SECURITY

RedMonocle Launches New Platform to Assist CISOs in Finding, Funding, and Fixing Cybersecurity Risk Blind Spots

RedMonocle | April 29, 2021

RedMonocle Launches New Platform to Assist CISOs in Finding, Funding, and Fixing Cybersecurity Risk Blind Spots
RedMonocle, a leader in SaaS-based cybersecurity risk quantification software, today announced new features to its platform aimed at helping chief information security officers (CISOs) and other security leaders anticipate threats in their Technology Security Stack by helping them find, fund, and fix cybersecurity risk blind spots that leave organizations vulnerable for a breach through their Tech Stack.

The acceleration of digital transformation last year brought security into the spotlight as companies scrambled to shift their entire organization to remote operations practically overnight. According to the FBI Internet Crime Complaint Center, cybercrime is up 300% in the last 12 months. As a result, cyber risk blind spots, or unknown areas outside of a company’s field of vision, and other security gaps were created. One out of five cybersecurity leaders surveyed by RedMonocle named blind spots as the No. 1 risk keeping them up at night, followed closely by data loss protection and leadership commitment.

“CISOs are feeling extra pressure this year to minimize security risks across the ever-growing Security Stack while maintaining compliance to security standards and fending off daily threats from well-funded attackers,” said Sean McDermott, CEO, and co-founder of RedMonocle. “Every day Security Leaders are playing a highly complex game of chess knowing there are parts of the board they can’t even see. CISOs know they have blind spots hidden in their Security Stack. Now, they want to know what to do next and we want to help them get there.”

New features to the RedMonocle platform include the Security Stack Assessment and Always-On Risk Intelligence. Their newly released Security Stack Assessment helps CISOs and cybersecurity leaders find cyber risk blind spots by checking for gaps and overlaps in the current system that could risk compliance, increase costs and leave company and consumer data exposed to malicious activity. This assessment simplifies the way CISOs compare the security of their stack with their selected security standards. Their Always-On Risk Intelligence helps CISOs find blind spots before they become a problem and highlights how to fix them. This update also compares Stack to Standard and continuously tracks gaps in compliance to NIST-800-53 for companies to always be prepared for audits.

About RedMonocle

RedMonocle Inc. is a SaaS-based risk intelligence software designed to help CISOs and cybersecurity leaders find, fund, and fix their cybersecurity risk blind spots. Founded by Sean McDermott and Chris Schroeder, RedMonocle has spent the past 25 years working with Fortune 500 companies to evaluate, install, customize and optimize the IT Tech Stack.

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The proliferation of applications like Salesforce, Zoom, and Slack has enabled organizations to better serve their employees and customers while accelerating their cloud adoption. However, many companies adopting the cloud will still keep some of their mission-critical applications hosted on-premises, creating hybrid IT environ


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DATA SECURITY

ContraForce Announces $2M Seed Investment from DataTribe

ContraForce | December 28, 2021

DataTribe, a global cyber foundry that invests in and co-builds next-generation cybersecurity and data science companies, announced today a $2M seed investment in ContraForce, a leader in no-code security automation for small and medium-sized businesses. ContraForce delivers a no-code security automation platform that makes cyber security accessible for small and medium-sized businesses that lack the resources and expertise to defend themselves. In addition, ContraForce also brings this facility to security compliance; a critical feature, as customers, regulators and insurance companies are putting increasing pressure on small and mid-sized organizations to not only be secure, but also to prove it. No longer is it acceptable for smaller organizations to be a step behind in their security and compliance. Hackers are increasingly targeting them for ransomware or as an entry point into a supply chain. Because small businesses typically have limited resources to cope with a cyber attack, cyber attacks can represent an existential risk for them. ContraForce enables small and mid-sized businesses to manage this risk with their easy-to-use, self-service platform to automate threat detection, response, and compliance. “We are thrilled to announce DataTribe's most recent investment in ContraForce on the heels of the company winning the fourth annual DataTribe Challenge,” said John Funge, Managing Director at DataTribe. “By providing a sort of security and compliance ‘easy button’, ContraForce is filling a really significant gap. Just because an organization is small does not mean that it does not possess vital data, IP, or access to strategic networks. It is paramount that smaller organizations overcome the resource barriers to robust security. ContraForce’s unique approach dramatically lowers these barriers.” “I am looking forward to working with DataTribe as we build on the ContraForce team's passion for simple and effective cybersecurity solutions designed for the needs of small and medium-sized businesses,” Stan Golubchik, CEO and co-founder of ContraForce ContraForce’s security and compliance solutions map security vulnerabilities to the industry standard MITRE ATT&CK framework. They create and adapt security detection and response capabilities in real-time, ensuring the environment is secured in hours across the cloud, network, endpoint, and users. By using ContraForce, an organization without dedicated security personnel can respond to threats without having to learn or write complex security detection code and response workflows. About DataTribe DataTribe is a startup foundry that invests in and co-builds world-class startups focused on generational leaps in cybersecurity and data science. Founded by leading investors, startup veterans, and alumni of the U.S. intelligence community, DataTribe commits capital, in-kind services, access to an unparalleled network, and decades of professional expertise to give their companies an unfair advantage. DataTribe is headquartered in the Washington-Baltimore metro area, in Fulton, Maryland. About ContraForce ContraForce is the new no-code security automation company. We focus on securing the small and medium-sized businesses by helping their security and IT teams work smarter, allowing them to implement automated operations that are effective in combating cyberattacks and demonstrating compliance. ContraForce is headquartered in McKinney, Texas and was founded and built by industry security and cloud experts from Armor, McAfee, and Intel. ContraForce's mission is to empower IT and Security teams and enable them to be more efficient.

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DATA SECURITY

CloudCover Continues to Move Into a New Era of CyberSafety with the Launch of CloudCover’s Cyber Liability

CloudCover | December 27, 2021

The cybersecurity insurance market is in trouble, fueled by a rapid increase in cyber attacks – up 486% from the beginning of 2018 through the end of 2021, according to Aon. As a result, insurers have little choice but to raise rates and scrutinize policy terms and conditions, as there’s no historical data to set policies and premiums like traditional insurance products. CloudCover, the company Reimagining CyberSecurity, is making strides to improve cyber safety by creating the first end-to-end cyber security technology and insurance platform. Today, the company announces the continued rollout of its suite of CloudCover insurance products with the launch of a new insurance offering: CloudCover Cyber Liability (CCCL) and Information Systems Business Interruption (ISBI) insurance. The release of the cybersecurity insurance coverage brings forward an entirely new market category: cybersecurity network and data insurance cover that utilizes the CC/B1 PlatformTM to obtain the data analytic set required to efficiently underwrite and set accurate premiums. CloudCover’s $1 Million Ransomware Warranty was launched in September 2021. Through its CCCL insurance, CloudCover will issue a $1 million cover per occurrence and a $10 million aggregate policy. This insurance option covers: First-party response costs, including any costs associated with the investigation and remediation of cybersecurity breaches, as well as payment for costs associated with notifying affected parties of the breach, Third-party liability and regulatory costs, including any costs associated with the defense of lawsuits, regulatory fines, and penalties in addition to the costs associated with any judgements rendered from those activities, and Cover for any ransom demanded by cyber criminals who have locked the insured company’s network or computer systems. Similar to the CCCL coverage, CloudCover will also issue $1 million coverage per occurrence and a $10 million aggregate policy for its ISBI coverage. The insurance policy provides payment for lost revenue in the event that a Distributed Denial of Service (DDoS) attack disrupts or compromises the insured party’s network. Both insurance covers are powered by CloudCover’s CC/B1 Platform, an advanced Intelligent Threat ManagementTM security solution. The CC/B1 relies on a patented AI/ML (automated intelligence/machine learning), X-NDR (extended network detection and response), SOAR (security, orchestration, automation and response) technology that empowers risk awareness, risk control, and risk transfer in near real time. The platform operates as a Firewall EverywhereTM, collecting data from all corners of an organization’s network, streamlining and utilizing machine learning to detect, analyze, and stop suspicious activity – all while using the collected network patterns with risk scoring and building actuarial models for incremental cybersecurity network insurance. “This marriage of cybersecurity technology and cyber insurance represents the creation of a new market,No other security vendor is able to provide cybersecurity risk scoring, risk event mitigation and mediation, accurate identification and threat stopping, and cyber risk insurance underwriting and auto-adjudication for claims in one platform. Using cybersecurity technology to learn about a company’s network and utilizing that data to create more accurate premiums and better coverage gives our industry the opportunity to better control cybersecurity insurance losses in the future, as we’ll be able to detect threats and issue micro-policies in a fraction of a second.” Stephen Cardot, founder and CEO of CloudCover In the months ahead, CloudCover plans to debut the final product in its initial CyberSafety Insurance Coverage portfolio: Cybersecurity Network Data Insurance, which will be the first insurance policy to insure data in motion with both first- and third-party liability coverage. This insurance, which will launch in February 2022, makes it possible for organizations to insure and thereby value their intangible assets, i.e., data, just as they would other company assets – something that’s been long seen as impossible in the FASB/GAAP industry. In order to purchase CloudCover’s insurance offerings, a company will need to have the CC/B1 Platform installed on its network in addition to completing CloudCover’s CyberSafety Registry. About CloudCover CloudCover is an AI-driven, virtual machine-learning cybersecurity platform. CloudCover has reimagined cybersecurity as a risk-predictive CyberSafety Platform – delivering real-time extended network detection and response through a patented, math-based security orchestration automated response risk aware/control solution. The CloudCover SOAR capability accumulates data between an organization’s diverse security technologies and environments and streamlines them into holistic actions on potential risks. The CC/B1 Platform provides an ever-evolving, protective security layer to your existing cybersecurity tech stack – meaning network threats are detected in near zero-second speed with near zero-threat accuracy. With CloudCover, the elusive “single pane of orchestration” capability of an organization’s network security isn’t a myth – it’s reality.

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DATA SECURITY

Security Tops Retailers’ Wish Lists this Holiday Season

Futurex | November 17, 2021

Record sales expected in 2021, along with hackers; Futurex recommends point-to-point encryption for retailers to protect cardholder data BULVERDE, Texas, November 17, 2021 — As we enter the biggest retail season of the year, transactions are increasing, as are the numbers of hackers and skimmers — targeting shoppers’ cardholder data. The last thing retailers need to worry about is cyber threats that lead to ransomware or data breaches, as they welcome shoppers and juggle supply chain disruptions. Futurex, a leader in hardened, enterprise-class data security solutions, recommends retailers implement point-to-point encryption (P2PE) to encrypt cardholder data at the point of sale to keep it safe from malware that might be spying on network traffic and capturing credit card numbers. Futurex secures transactions for several of the nation’s largest retailers, protecting shoppers’ sensitive cardholder data and payment information. U.S. retail sales now through December are expected to grow 10.5% to a record $859 billion, compared to 2020, according to the National Retail Federation. Meanwhile, the FBI and the Cybersecurity and Infrastructure Security Agency (CISA) have warned about the increase of cyber threats, including ransomware, around the holidays. “Behind every gift, every purchase, and every payment, retailers and consumers depend on secure transactions to protect payment information,” said Ryan Smith, vice president, global business development, at Futurex. “As the critical security backbone of the global financial ecosystem, we work with the world’s largest retailers and financial institutions to safeguard data in transit and at rest." The use of hardware security modules (HSMs) in transaction processing is critical, as payment HSMs provide the cryptographic functions needed to support end-to-end data security, including encryption and cryptography key management. In a compliant P2PE environment, sensitive data is encrypted from the point of interaction and decrypted only within the secure boundary of a FIPS 140-2 Level 3 or PCI HSM-validated HSM. Learn more about point-to-point encryption. About Futurex For more than 40 years, Futurex has been a trusted provider of hardened, enterprise-class data security solutions. More than 15,000 organizations worldwide, including financial services providers and corporate enterprises, have used Futurex’s innovative hardware security modules, key management servers, and enterprise-class cloud solutions to address their mission-critical systems, data security, and cryptographic needs. This includes the secure encryption, storage, transmission, and certification of sensitive data. For more information, please visit futurex.com.

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ENTERPRISE SECURITY

iTecs Enters Into A Partnership With Check Point

iTecs | December 20, 2021

iTecs, a Dallas based IT MSP, Cybersecurity, and Cloud Hosting Provider (https://itecsonline.com) enters into a partnership with Check Point, a leader in enterprise and SMB cybersecurity products and solutions, to provide iTecs clients with efficacious cybersecurity protection. The collaboration between the two parties enables iTecs to deliver the various services and products to clients as a managed service. "The traditional 'perimeter-based' security model is not aging well in this new landscape, and binary access tools are proving to be cumbersome and unscalable. Fixed perimeters no longer govern working environments. Instead, users work on their own devices and sensitive company data stored in third-party cloud services. As a result, companies can no longer rely on binary security models that focus on letting good guys in and keeping bad guys out. The challenge for modern enterprises is how to give users the required access while reducing set-up and maintenance costs without compromising security. Check Point's Zero Trust Network Access model provides the tools to safeguard companies in today's ever-growing work-from-home demand. Especially with the growing popularity and development of 'METAVERSE' work environments, it's essential to adopt new and intelligent ways of protecting your users," says Brian Desmot, CEO & Founder of iTecs. Currently in partnerships with Sophos, SentinelOne, Cisco, CoSoSys, and now Check Point, iTecs' Managed Security Services (MSS) division provides SMB and Enterprises with an array of sophisticated and synergistic threat-preventing solutions. "Our propensity of testing cybersecurity solutions has led us to the conclusion that Check Point is the right partner to provide our clients with maximum ROI. As a result, we are redesigning our website and will include new pages devoted to the broad menu of services our alliance with Check Point is providing," Brian Desmot iTecs is going through a rebranding campaign with the launch of a new logo and website which will be completed by early 2022. About iTecs IT Outsourcing and Support Brian Desmot founded iTecs in 2002, a white-glove IT support, consulting, managed IT services provider. The firm delivers an umbrella of IT services from break-fix, consulting, cybersecurity, to procurement for businesses of all sizes. If you need a professional, customer-centric offsite IT department, iTecs is the best choice.

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The proliferation of applications like Salesforce, Zoom, and Slack has enabled organizations to better serve their employees and customers while accelerating their cloud adoption. However, many companies adopting the cloud will still keep some of their mission-critical applications hosted on-premises, creating hybrid IT environ

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