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Security Solutions Issue 115 Out Now!

In Security Solutions Issue 115, we look at the role of the private security industry in Australia’s national counter-terrorism plans. We also discuss strategies to help identify insider threats, examine whether or not prisons are fertile recruiting grounds for terrorist groups and explore ways to demonstrate the value of an effective cyber security strategy to the company board.

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WatchGuard Earns Second Consecutive Champion Recognition in 2023 Canalys Cybersecurity Leadership Matrix

Partners highly rate WatchGuard for delivering a top partner experience, programs and enablement, and sales engagement.

Michelle Welsh, CMO and senior vice president of business strategy at WatchGuard Technologies

WatchGuard Technologies, a global leader in unified cybersecurity, announced today it has been recognised as a Cybersecurity Channel Champion in the 2023 Canalys Global Cybersecurity Leadership Matrix. The annual report assesses vendor performance in the channel over the last 12 months based on partner feedback, vendor surveys, Canalys shipment estimates, and analyst insight. The recognition marks the second consecutive year that WatchGuard achieved Champion status in the Canalys report.

“As a longtime WatchGuard partner, I’ve witnessed firsthand their commitment to enabling channel partners to succeed by delivering industry-leading security solutions, offering the best technical and sales trainings, and providing first-class customer support,” said Don Gulling, president and CEO of Verteks Consulting. “WatchGuard continually demonstrates what it means to be a partner-first organisation by offering unparalleled support that enables us to grow our business profitably. They’ve shown us time and again that they are truly vested in our success. This recognition is well-deserved.”

To attain Champion recognition, Canalys identified vendors that demonstrated not just the highest levels of excellence in channel management and market performance in cybersecurity but also ongoing momentum. In its assessment of WatchGuard, Canalys reported that “WatchGuard’s commitment to the channel was demonstrated by its continued investment in key product, program, and enablement initiatives over the last 12 months, especially with MSPs in the SMB and midmarket segments. Partners highly rated the ease of doing business and the quality of [WatchGuard’s] account management.”

“We are absolutely thrilled to be honoured once again as a Canalys Channel Champion,” said Michelle Welch, WatchGuard Technologies CMO and senior vice president of business strategy. “This recognition reflects WatchGuard’s partner-first approach and ongoing commitment to enabling MSP success, creating growth opportunities, and increasing partner profitability. Everything we do ‒ from the continuous enhancements to our MSP-focused Unified Security Platform® framework to the industry-leading partner enablement and support benefits we offer in our WatchGuardONE channel partner program ‒ we do with the best interests of our partners in mind.”

Canalys noted that WatchGuard’s Unified Security Platform architecture and the WatchGuardONE channel partner program are designed to help partners reduce costs, improve efficiency, and win business. WatchGuardONE offers three levels of participation for partners to unlock product discounts, priority support, cooperative marketing funds, deal registration, exclusive tools and resources, and other benefits through an engagement-based approach.

The 2023 Cybersecurity Leadership Matrix assessed 30 vendors based on the following criteria: partner feedback, vendor performance, and analyst insights into their vision and strategy, leadership, partner initiatives, and enablement. Inclusion was based on vendors meeting two thresholds: a minimum annual revenue of US $200 million from cybersecurity (excluding professional services), and more than 50% of business going through the channel. The report identifies and positions vendors in one of four quadrants: Champions, Scalers, Contenders, and Foundations.

To view the full report, click here.

Australian Security Industry Awards 2024 – Nominations Open Now!

Australian Security Industry Awards 2024

Recognising Excellence In Our Industry

The security industry will come together on Thursday 24th October 2024 to celebrate excellence and innovation. Award winners and finalists will be recognised at the prestigious 2024 #SecurityAwards Ceremony and Dinner in Melbourne.

Organised by ASIAL, the 28th Australian Security Industry Awards for Excellence will be joined by the 9th Outstanding Security Performance Awards (the OSPAs) and 13th Australian Security Medals Awards. The three security industry awards programs combined into a unified event serve to enhance the industry, fostering a collective celebration of the industry’s accomplishments and excellence throughout the year.

Award recipients will be recognised at a special dinner to be held at the Park Hyatt Melbourne on Thursday 24th October 2024.

 

Why You Should Nominate!

2024 #SecurityAwards Categories & Nomination Information

Australian Security Industry Awards for Excellence – 14 Awards

Nomination Criteria>

  1. Electronic Security Installation > $500,000
  2. Electronic Security Installation < $500,000
  3. Diversity and Inclusion
  4. Individual Achievement – Technical Security
  5. Individual Achievement – Protective Services
  6. Integrated Security Solution > $500,000
  7. Integrated Security Solution < $500,000
  8. Product of the Year – Access Control Systems
  9. Product of the Year – Alarm Systems
  10. Product of the Year – Video Surveillance Systems (CCTV IP System/Solution)
  11. Product of the Year – Physical Security
  12. Security Equipment Manufacturer/Distributor/Supplier
  13. Unsung Hero – Electronics Security Sector
  14. Unsung Hero – Protective Services Sector

Outstanding Security Performance Awards (OSPAs) – 9 Awards


Nomination Criteria>

  1. Outstanding In-House Security Manager/Director
  2. Outstanding Contract Security Manager/Director
  3. Outstanding Security Team
  4. Outstanding Guarding Company
  5. Outstanding Security Consultant
  6. Outstanding Security Training Initiative
  7. Outstanding Security Partnership
  8. Outstanding Female Security Professional
  9. Outstanding Young Security Professional


Australian Security Medals Foundation (ASMF) Awards – 3 Awards
Nomination Criteria>

  1. The Australian Security Valour Medal (ASVM)
  2. The Australian Security Medal (ASM)
  3. The St John Save a Life Award

Nominations Open: 1 March 2024
Nominations Close: 9 August at 5 pm

Australian Security Industry Awards for Excellence – Nomination Criteria>
Outstanding Security Performance Awards (OSPAs) – Nomination Criteria>
Australian Security Medals Foundation (ASMF) – Nomination Criteria>

2024 #SecurityAwards Judges

 

 

Previous Australian Security Industry Awards
View the past Australian Security Industry Awards winners, photographs and more here:

2023 #SecurityAwards Highlights Video

 

 

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When

24/10/2024 6:30 PM – 10:30 PM
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Where
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Genetec unveils Security Centre SAAS at the launch of their new office and state-of-the-art Experience Centre in Sydney

 

Genetec Inc. (“Genetec”), a leading technology provider of unified security, public safety, operations, and business intelligence solutions, has recently announced Security Center SaaS. Built with cybersecurity and privacy at its core, the new offering is a massively scalable, open, and unified software as a service solution (SaaS). Combining access control, video management, forensic search, intrusion monitoring, automation, and many other advanced security capabilities, Security Center SaaS ushers in a new chapter in the technology evolution of the physical security industry.

“The physical security industry in Australia and New Zealand and globally has not been able to get cloud or software as a service quite right, especially for enterprise customers,” said Christian Morin, Vice President of Product Engineering and CSO, Genetec Inc. “With Security Center SaaS, organisations are no longer beholden to proprietary or feature-poor as a service solutions that needlessly force a choice of either all on-prem or all cloud. The enterprise capabilities and open architecture of Security Center SaaS are designed to enable systems to handle complex workloads where they make the most sense to be deployed.  This flexibility addresses a longstanding need of end users and fills an important gap in the market,” he said.

A hybrid SaaS solution built for channel partners  

As deployments become increasingly sophisticated, end users rely on trusted security professionals to guide them through their transition to cloud and hybrid environments. To bring this new SaaS solution to the market, Genetec has transformed its entire approach to procurement, deployment, and maintenance without compromising the enterprise-grade capabilities for which its solutions are known.

George Moawad, Country Manager ANZ, Genetec Inc explains, “Current approaches to SaaS have undercut the role of channel partners, whom we see as central to customer and project success. Security Center SaaS represents an important opportunity for our systems integrators. It means better margins and long-term customer satisfaction, with no additional investment in time or resources on the part of partners.

With an automated quoting and ordering process, systems can be fully operational within minutes from when the order is placed. The brand-new Genetec Portal makes it easy to quote, order, deploy, and manage large deployments so that channel partners can continue growing their business and deliver the technology and ownership options that their end users demand.

Enterprise-grade experience in the cloud 

With the ability to centralise the monitoring and management of multiple sites, Security Center SaaS is ideally suited to meet the needs of customers in Australia and New Zealand across a wide range of verticals, including retail, education, corporate campuses, banking, healthcare, and governments. It can serve low-density deployments with a handful of direct-to-cloud devices and scale up to thousands of sites and devices with hybrid storage and processing. Operators can manage operations from a SOC (Security Operation Center) or on the go through robust web and mobile applications.

A seamless evolution to the cloud

Security Center SaaS is a deployment-agnostic platform that supports a range of configurations. Based on a hybrid-SaaS architecture, the new solution allows organisations to move components and sites to the cloud based on their needs and requirements using a combination of cloud-native services and cloud-managed appliances, with storage and processing at the edge. Because of its open architecture, Security Center SaaS gives organisations the freedom to choose the devices, cameras, and door controllers that work best for their business.

Security Center SaaS can also connect seamlessly with existing on-premises security devices and infrastructure. Access control devices and cameras that are not cloud-ready can easily be connected to Security Center SaaS using Genetec edge appliances.

Availability

Available In Australia and New Zealand as well as globally in April 2024 from certified Genetec partners, Security Center SaaS is offered in tiered subscription plans based on the number of device connections needed.

It will be showcased for the first time at ISC West at booth #13062. For more information, please visit: https://www.genetec.com/a/security-center-saas-launch.

Sydney Experience Centre

In addition to the recent launch of Security Centre SAAS, Gentec yesterday officially opened their new office and state-of-the-art Experience Centre, located in Sydney, Australia.

Named SYXC, the new Experience Centre is located within Sydney’s Tech Central precinct at 477 Pitt Street and features innovative solutions from Genetec and its large ecosystem of industry-leading technology partners. The new facility will serve as a hub for Genetec partners and customers located in the ANZ region. SYXC is the latest addition to the company’s existing Experience Centres in Montreal, Paris, London, Mexico City, Washington D.C., Dubai, and Singapore.

The Hon. Anoulack Chanthivong, New South Wales Minister for Industry and Trade will join Pierre Racz, President, Genetec Inc., Michel Chalouhi, Genetec Vice President of Global Sales, Andrew Elvish, Genetec Vice President of Marketing, Daniel Lee, Genetec Managing Director of APAC, and George Moawad, Genetec Country Manager of Australia and New Zealand, along with Invest Quebec and other dignitaries for the unveiling. Genetec partners at the launch will include Convergint Technologies, Fortis, and ACG Integration.

Mr. Chanthivong congratulated Genetec on the opening of its new Experience Centre and for choosing Tech Central as the base for its Oceania headquarters.

“This is another vote of confidence in NSW as the premier destination in Australia for global businesses to invest and grow. Tech Central is Australia’s largest technology and innovation hub, and we welcome Genetec to its growing community of members.” Mr. Chanthivong said.

“Fostering innovation growth through international collaboration, partnerships, and cutting-edge technology is critical to future proofing the state. We welcome the Genetec commitment to creating jobs and investing in NSW and look forward to working with them to lock in future growth.”

“Genetec is investing significantly and playing a lead role in supporting Australian and New Zealand private sector organisations and government agencies to strengthen and bolster their physical security operations,” says Daniel Lee, Managing Director, APAC, Genetec Inc.  “With the opening of the Sydney Experience Centre, Genetec is continuing to expand its global footprint to give channel partners, technology partners, and end users an opportunity to experience first-hand the innovative technology and solutions that Genetec has to offer.”

The state-of-the-art Experience Centre will operate as a fully functioning Security Operations Centre and include an Internet of Things (IoT) wall, providing an immersive experience for customers in any industry to see how Genetec solutions can directly enhance their security and operations. Other features include a training centre and a modern workspace to accommodate the fast-growing Genetec ANZ team.

“Genetec will showcase video management, access control, license plate recognition, security and communications management, and secure cloud services to protect people and places. We encourage organisations interested in viewing the innovative physical security technology and solutions in action to contact us for a personalised tour,” explains George Moawad, Country Manager, ANZ, Genetec Inc.

About Genetec

Genetec Inc. is a global technology company that has been transforming the physical security industry for over 25 years. Today, the company develops solutions designed to improve security, intelligence, and operations for enterprises, governments, and the communities in which we live. Its flagship product, Security Center, is an open-architecture platform that unifies IP-based video surveillance, access control, automatic license plate recognition (ALPR), communications, and analytics. Founded in 1997, and headquartered in Montreal, Canada, Genetec serves its customers via an extensive network of certified channel partners and consultants in over 159 countries.

For more information about Genetec, visit: http://www.genetec.com

Radware – new model will provide more revenue streams for MSSPs

Cyber security and application delivery vendors Radware have released a new business model they say will provide more opportunities to managed security services providers, while reducing the cost of ownership.

Radware® (NASDAQ: RDWR) has announced the new ‘flexible business model’ for MSSPs, stating that ‘the offering enables service providers to enjoy new revenue streams and grow their businesses by extending an innovative line of managed network and application security services to their customers’. 

“MSSPs are under constant pressure to evolve their services and deliver an exceptional user experience without eroding their margins,” said Haim Zelikovsky, vice president of Radware’s cloud business. “Our security experts work alongside service providers to not only defend their customers against cyber threats, but also offer them a unique opportunity to create an industry-leading portfolio of security services that can drive new revenue streams.” 

Catering to their business needs, Radware’s new offering enables MSSPs to customise, rebrand, and resell the company’s Cloud DDoS Protection and Cloud Application Protection Services. The services are built to defend MSSPs’ customers against advanced cyber threats, including DDoS, DNS, application, and layer 7 Web DDoS attacks. 

Leading service providers like US Signal are working with Radware to expand their cyber defence portfolios and strengthen their customers’ experiences. 

Radware understands the unique needs and challenges that service providers face. In addition, to meeting important scale and technology requirements, what sets Radware’s MSSP program apart is the built-in support it offers in standing up a comprehensive security service practice,” said David Humes, vice president of product development for US Signal, a leading provider of cloud solutions, network connectivity, and data centre services. “We selected Radware for their advanced technology, expertise in surgically combating volumetric attacks, and ability to help us fast track a new value-added security offering for our customers.” 

Radware’s network and application security solutions are built on AI-powered algorithms to protect legitimate user experiences while minimising false positives and the need for human intervention. The company has received numerous awards for its security solutions. Industry analysts such as Aite-Novarica Group, Forrester Research, Gartner, GigaOm, KuppingerCole, and Quadrant Knowledge Solutions continue to recognise Radware as a market leader in cyber security. 

Why Cyberthreats Remain a Part of Daily Business Life

Despite tireless work by IT security teams and large budgets directed to protective tools and services, the threat of damaging cyberattacks remains concerningly high for businesses of all sizes.
While significant progress has been made to combat this issue, the ability of cybercriminals to adapt and make use of new tactics makes staying safe a challenge. When issues such as the rise in remote working and use of cloud platforms is added, the threat landscape becomes even more complex.
According to a recent study by US-based Cybersecurity Ventures[1], an attack took place every 39 seconds in 2023. That translates into more than 2,200 cases each day.
This compares with a similar study in 2022 that found an incident occurred every 44 seconds. This rising attack rate is concerning for IT security teams, who are facing increasingly sophisticated threats designed to circumvent cybersecurity protocols.
For this reason, it is important for organisations to be aware of the types of cyberattacks currently taking place so that they can adapt their strategies to deal with these threats more effectively.
There are currently three attack modes that sit at the top of priority lists for security teams. They are:
  • Malware attacks:
    These attacks involve cybercriminals using malicious software to invade, damage, or disable computers, computer systems, networks, and devices. As a result, they are often able to take control of a target’s IT infrastructure.
    Within the malware group, there are different attack types that compromise the security and internal systems of companies. It was one of the biggest threats in 2023 and this is expected to remain the case throughout 2024.
  • Ransomware attacks:
    Ransomware attacks use a form of malicious software that encrypts files or blocks access to a system or device. Ransomware usually affects all types of organisations, regardless of size, but particularly those that use and store critical information.
    Once the malicious software is installed, cybercriminals then demand a ransom from their victims in exchange for unlocking access to the system. According to a recent WatchGuard report[2], ransomware attacks were the top threat in 2023, and showed a 95% year-on-year increase in terms of frequency.
  • Phishing attacks:
    These are the widest-known form of attack as they affect the end user and tend to impact everyday online activities. Despite increasing awareness of this threat, new modalities have emerged in recent months that continue to make phishing one of the most common problems.
    Thanks to recent technologies and the use of artificial intelligence (AI), cybercriminals have managed to perfect their techniques by simulating the voices of acquaintances through vishing or launching smishing attacks carried out through SMS or services such as WhatsApp.
The risks for SMBs
Given this persistent threat landscape, it is crucial for businesses of all sizes to be aware of the dangers of these increasingly common attacks, as well as their evolution and development.
Small and mid-sized businesses are certainly not immune to cyberattacks. Indeed, many cybercriminals actively target smaller-size organisations because they often operate with smaller cybersecurity budgets and have less protective infrastructure.
The situation was highlighted in a report[3] by the Identity Theft Resource Centre (ITRC) that reveals 73% of small businesses state they have encountered cybersecurity problems during the past year. Given this threat landscape, small and midsize companies need to protect their systems efficiently by using a sophisticated cybersecurity service personalised to meet their needs.
Some key ways SMBs can strengthen their security posture include:
·       Engage a professional partner:
Smaller-sized businesses do not always have a specialised internal cybersecurity team, so many find benefit in using the services of a managed service provider (MSP). An MSP will carry out effective monitoring and provide a personalised assessment to help a business protect against potential cybersecurity breaches.
·       Conduct regular staff training:
Many cyberattacks are caused by employee errors or malpractice when using cybersecurity systems. Developing regular training boosts employee cybersecurity awareness and equips them with the tools they need to help protect internal systems.
·       Consider taking out cyber insurance:
While protecting against threats is a must, having support that protects the company in the event of a cyberattack is also very useful. Cyber insurance can mitigate any damage caused by a cyberattack significantly, so it is worth considering putting a policy in place.
·       Keep software updated: 
While it might sound obvious, ensuring all updates to software are applied can make a big difference. Outdated software can create gaps in a company’s cybersecurity that lead to a security incident.
·       Prioritise a unified cybersecurity system:
A comprehensive cybersecurity system is one of the most effective ways a business can shield itself against security breaches. Organisations interested in applying a system that protects each of the different security layers will require a solution that covers any potential gaps.
The challenges posed by cybercriminals are only going to increase in the months and years ahead. By taking protective and pre-emptive steps now, businesses can be best placed to withstand potential attacks if and when they take place.

Anthony Daniel, Regional Director – Australia, New Zealand and Pacific Islands, WatchGuard Technologies

 

[1] https://securityboulevard.com/2023/11/how-many-cyber-attacks-happen-per-day-in-2023/
[2] https://watchguard.widen.net/view/pdf/w4vqh1j2pl/eBook_Endpoint_Ransomware.pdf?t.download=true&u=sume5b
[3] https://www.idtheftcenter.org/publication/itrc-2023-business-impact-report/

New board member for Keeper Security

Key appointment helps Keeper lead the charge for zero-trust cybersecurity across the government sector 

 

Keeper Security,  provider of zero-trust and zero-knowledge cybersecurity software protecting passwords, passkeys, privileged access, secrets and remote connections,  welcomes Chase Cunningham, PhD to its Public Sector Advisory Board. As an advisory board member, Cunningham will contribute his expertise to bolster Keeper’s ongoing efforts to meet the shifting cyber demands of the US government as it continues to set the pace toward a future of zero trust. Keeper Security’s early adoption of zero-trust architecture has become a model for national security and cybersecurity organizations preparing to invest in and implement zero trust.

Cunningham, also known as ‘DrZeroTrust’, is recognized as a pioneer in zero-trust architecture and market analytics. He founded Forrester’s Zero Trust eXtended (ZTX) framework, guiding hundreds of thousands of organizations into the adoption of zero-trust security. Cunningham’s research has transformed the security industry, illuminating the efficacy of zero trust in a dynamic, hybrid public sector environment. He has 20+ years of experience in cyber forensics analytics including highly technical work centers within the NSA, CIA and FBI.  

 

Moving the nation toward zero-trust is a government-wide initiative to modernize the US federal government’s approach to cybersecurity, as mandated by the 2021 President’s Executive Order (EO) 14028. Civilian federal agencies must implement zero trust by September 2024 and many organizations are scrambling to prepare. As a FedRAMP and StateRAMP Authorized solution, Keeper Security Government Cloud (KSGC) provides a critical password and privileged access management solution for agencies working to meet this goal. KSGC maintains the Keeper Security zero-trust security framework, alongside a zero-knowledge security architecture, so users have complete knowledge, management and control over their credentials and encryption keys.

 

“The initiatives the federal government is trying to solve for – cybersecurity, zero trust, national security – are moving targets, especially in the digital space. Keeper provides innovative FedRAMP and StateRAMP Authorized solutions that empower public sector organizations to achieve their goals,” said Dr. Cunningham. “Keeper has been a driving force in making zero trust possible for a wide variety of organizations that do business in the public sector, and I’m excited to help them continue and scale that mission.”

 

“Chase has been instrumental in the development of zero-trust frameworks, and we are thrilled to have him on our Public Sector Advisory Board,” said Darren Guccione, CEO and Co-founder of Keeper Security. “From the start, Keeper has adopted zero trust and zero knowledge as foundational technologies in our cybersecurity platform. The addition of Chase as a new advisor reinforces our vested commitment to protecting the public sector with innovative, next-gen cybersecurity solutions.”

 

Cunningham is the Vice President of Security Market Research at G2, a former Chief Cryptologic Technician for the NSA and a former Forrester analyst. Cunningham holds a PhD in Computer and Information Systems Security and Information Assurance, a Master’s in Information Security from Colorado Technical University and a Bachelor of Applied Science from American Military University. He brings deep technical expertise, numerous certifications and operational experience in cybersecurity, national security and zero-trust industries. 

Radware expands DDoS protection for telecom provider NOS

Cyber security and application delivery solutions vendor Radware has expanded its relationship with NOS, one of the largest communications and entertainment groups in Portugal.

The telecom leader is increasing its Radware security defences to further safeguard traffic across its growing global cloud infrastructure and advance its reseller capabilities.

Leading 5G provider in Portugal, NOS has 5.9 million mobile phone customers, 1.6 million television customers and over 5.3 million households covered with FTTH. NOS chose Radware for its superior technology, technical expertise, and customer responsiveness.

As part of the agreement, NOS increased its investment in Radware’s DefensePro® DDoS protection and emergency response team services. In addition, NOS purchased Radware’s Managed Security Service Provider Portal Solution, enabling the carrier to resell DDoS detection and mitigation to its customers as a managed service.

Radware closed the deal in conjunction with its OEM partnership with Check Point Software Technologies, a leading AI-powered, cloud-delivered cyber security platform provider.

“Not only does Radware offer superior DDoS protection, but Radware’s customer support has been key at increasing the safety of NOS’ infrastructure and its customers,” said Paulo Ribeiro, director of fixed network engineering at NOS.

“Based upon our long-standing, positive experience, we know we can depend on Radware to respond quickly to our requests. In addition to helping us protect our own network, our expanded engagement has created a valuable competitive advantage by enabling us to resell DDoS protection as a service to our customers.”

According to Roberto Neisser, regional director for Radware, “NOS is transforming business telecommunications in Portugal and continues to innovate and invest in technology to support its new services.

“We value our relationship with NOS and are honoured that the company continues to choose Radware for its evolving security needs. The expanded relationship validates the strength of Radware’s people, approach, and technology solutions.”

For two consecutive years, Radware was named the technology leader in Quadrant Knowledge Solutions’ Spark Matrix™ for DDoS Mitigation. Radware’s DefensePro provides automated DDoS protection from Burst, DNS, and TLS/SSL attacks, as well as ransom DDoS campaigns, IoT botnets, and other types of cyber-threats.

Available 24x7x365, Radware’s emergency response team is a group of security experts that provides proactive support for customers facing a broad array of application and network layer attacks.

Radware® (NASDAQ: RDWR) is a global leader of cyber security and application delivery solutions for physical, cloud, and software defined data centers. Its award-winning solutions portfolio secures the digital experience by providing infrastructure, application, and corporate IT protection, and availability services to enterprises globally.

Radware’s solutions empower enterprise and carrier customers worldwide to adapt to market challenges quickly, maintain business continuity, and achieve maximum productivity while keeping costs down. For more information, please visit the Radware website.

NOS is the biggest communications and entertainment group in Portugal. It offers the latest generation fixed and mobile phone, television, Internet, voice and data solutions for all market segments.

It is a leader in film distribution and exhibition with the greatest number of cinema complexes and cinema theatres in Portugal. NOS has 5.8 million mobile phone customers, 1.6 million television customers, and over 5.3 million households covered with FTTH. For further information, please visit http://www.nos.pt/institucional.

Appdome Revolutionises Geo Compliance for Mobile Brands

Unveils Cutting-Edge Service to Combat Fake Location, GPS Spoofing and Beyond

Tom Tovar, co-creator and CEO of Appdome

Appdome, the one-stop shop for mobile app defence, has unveiled its new Geo Compliance feature set, allowing mobile brands to trust the user’s location and detect location spoofing, fake GPS apps, VPN use, SIM swaps and other methods used to circumvent geo restrictions in mobile applications. Mobile brands already use Appdome to simplify and accelerate delivery of mobile app security, anti-fraud, anti-bot and other defences in Android & iOS apps. Now, mobile brands can combine Appdome’s new, no-code, no-SDK, Geo Compliance features with any other mobile app defence features on its unified mobile app defence platform.

Mobile application commerce continues to rise rapidly. The geo-location integrity of the mobile end user and transaction data is critical. In many cases, Know-Your-Customer (KYC) policies, regulations like business licensing, advertising restrictions, consumer safety and privacy all rely on valid geographic data and restrictions in mobile apps. On top of that, mobile brands need a greater array of signals to detect fraud. They also need to ensure malicious users are not faking their mobile location to bypass geo restrictions or obtain access to offer inventory and services outside of an approved geography. Putting the quality of the user experience centre stage, these same brands need geo compliance to validate user identities in mobile applications, including in P2P and social-based mobile applications.

“Mobile brands have struggled to deliver true geo compliance,” said Tom Tovar, co-creator and CEO of Appdome. “Geo-compliance products imposed the same problems as legacy mobile app security, anti-fraud and anti-bot products, namely, too many point products, siloed data, complex SDK integrations and too much work for the engineering teams. We’re solving that by bringing geo compliance into one unified, automated platform for mobile app defence.”

Legacy geo compliance, mobile app security, and anti-fraud products are point products, providing narrow detection and defence coverage. Using more than one of these point products in the same mobile app requires complex app-level code changes to overcome compatibility challenges and resolve in-app conflicts from overlapping feature sets. These challenges don’t exist when using Appdome, as all detection and defenses options including the new Geo Compliance features, come fully interoperable with all other 300+ Appdome defences out-of-the-box.

“A breach of geo compliance can lead to negative publicity and damage a brand’s reputation,” said Rik Turner, Senior Principal Analyst at leading market research firm Omdia. “Geo compliance is a key part of any strategy to prevent fraud and stop service and program abuse related to location-based offers and services. Cyber and dev teams can implement geo compliance and other critical security defences in their mobile apps using Appdome’s cyber defence automation system easily.”

With Appdome’s Geo-Compliance Service, mobile brands can detect: 

  • Fake Location: Combat the growing threat of location spoofing, using a method to manipulate or falsify of the geographical location transmitted by a mobile device.
  • Fake GPS Apps: Detected Fake GPS Apps, used by mobile end users as a location service provider, when your mobile app is in use.
  • VPN In Use: Advanced techniques to detect attempts to bypass geographical restrictions using Virtual Private Networks (VPNs).
  • SIM Swaps: Robust SIM swap detection, alerting brands to SIM card or eSIM changes, when other location variables remain unchanged.
  • Random Locations: Identifies mismatches in location telemetry from on-device settings or components, including manual overrides to on-device location services.
  • Teleportation: Improbable location changes within timeframes.
  • Banned Locations: Detect when an app trying to be used in a country/region where the mobile brand does not allow use.
  • Other Geo-Compliance features: several other geo-compliance features provide data and control to mobile brands with location-based services, offers and promotions.

The new Geo Compliance features can be combined with any of the 300+ mobile app defences in mobile app security, anti-malware, anti-fraud, MOBILEBot™ Defense, anti-cheat, MiTM attack prevention, code obfuscation, and more in Android and iOS apps. All features are fully automated and built on-demand in the language of the mobile app by the Appdome platform, inside the mobile DevOps and CI/CD pipeline.

“Legacy geo-compliance vendors make two mistakes,” said Chris Roeckl, Chief Product Officer at Appdome, “they try to recreate the massive investment Google and Apple have made to ensure accurate geo-location or rely on basic anti-emulator defences to claim geo-compliance feature sets. With Appdome, brands can combine the best of breed in both solution sets and get comprehensive mobile app security and geo-compliance all in the same application with ease.”

For more information on Appdome’s Geo-Compliance feature set, visit https://www.appdome.com/geo-compliance.

BeyondTrust Accelerates APAC Expansion with Two Key Sales Appointments

 

Above: Sami Toivonen as ANZ Regional Sales Director

 BeyondTrust, the leader in intelligent identity and access security, today announced further expansion in the Asia Pacific region with two key executive appointments reinforcing the company’s regional market acceleration.

Based on the Gold Coast, Sami Toivonen joins BeyondTrust as ANZ Regional Sales Director where he will be responsible for further charting the company’s overall sales growth in Australia and New Zealand.

An industry veteran with more than 15 years of sales and account management experience in the IT industry, Toivonen was formerly Client Director APAC Strategic Accounts at Venafi where he drove the company’s regional business strategy for growth and diversification among both public and private sector organisations.

Prior, Toivonen was APJ Sales Director at SecureAuth where he was responsible for helping organisations across the region with their identity security journey.  In addition, he worked at Kordia Solutions where he was a Channel Manager prior to assuming the role of Security Sales Lead for Australia.  He also initially launched his career in cybersecurity at McAfee at Cyber Security Account Manager where he held responsibility for the ANZ and EMEA regions supporting both public and private organisations with their cybersecurity posture.

Above: Charlie Wood has been appointed as the company’s Asia Regional Sales Director

In addition, Charlie Wood has been appointed as the company’s Asia Regional Sales Director.  Based in Singapore, Wood will be responsible for driving growth across Southeast Asia.

Formerly ANZ Regional Sales Manager for BeyondTrust in Melbourne, Wood has ten years’ experience in the cybersecurity industry, including four years working at Avecto (subsequently acquired by BeyondTrust) as Corporate Account Manager based in the UK.   During the past ten years, Wood has worked with end users and channel partners to support successful deployments and outcomes for customer investment and value in the BeyondTrust platform.

Nick Turnbull, Senior Vice President Asia Pacific, BeyondTrust, said, “Both Sami Toivonen and Charlie Wood are dynamic sales leaders with deep knowledge of the identity space and in creating winning relationships with customers and partners.  We are committed to delivering an exceptional customer experience and we’re excited to add the combination of their skills and experience to provide customers with unmatched visibility and control against ongoing cyber threats.

“As the Australia, New Zealand and Asia regions continue to take on an increased significance for our global business, we’ll continue to accelerate our growth trajectory driven by strong revenue growth, product expansion, and industry and partner recognition.  We’re excited for the year ahead as we continue to help our customers solve their identity security challenges.”

Last year BeyondTrust continued to grow its talented team expanding to more than 1,500 employees globally.  At the same time, it accelerated recurring revenue to greater than 80% of total revenue, with approximately 40% YoY subscription ARR growth and adding nearly 1,500 new logos.  In addition, the company released advanced capabilities across the BeyondTrust Platform in 2023.

Aston Martin Aramco Formula One® Team Drives Cybersecurity with SentinelOne®

Team extends collaboration with Official Cybersecurity Partner leveraging AI-powered solutions to run securely on and off track

Sally Jenkins, Chief Marketing Officer at SentinelOne

In 2021 The Aston Martin Aramco Formula One® Team made its return to Formula One and announced SentinelOne (NYSE: S) as its Official Cybersecurity Partner. Today, the team is extending this collaboration in a multi-year agreement that sees SentinelOne at the heart of the team’s efforts to drive safety, security and success on and off the track at the AMR Technology Campus.

Through the expanded partnership, Aston Martin Aramco will leverage the SentinelOne Singularity™ Platform – the sametechnology that Aston Martin Lagonda has been using since 2018 – to revolutionise its approach to cybersecurity and keep its operations secure in an ever-evolving threat landscape.

Data is the lifeblood of Aston Martin Aramco, and the team handles vast amounts of it across a sprawling and complex infrastructure. To stay competitive, all of this data must be fully secured. As Official Cybersecurity Partner, SentinelOne delivers AI-powered security solutions that allow the team to see around corners and act on its data to protect every endpoint, IoT device, and cloud workload with unparalleled intelligence and speed.

“SentinelOne has been a great partner, and we are thrilled to be extending our relationship,” said Clare Lansley, Chief Information Officer, Aston Martin Aramco Formula One® Team. “Cybercriminals today move fast, and with SentinelOne as our Official Cybersecurity Partner, we can move faster to protect ourselves against threats. SentinelOne provides Aston Martin Aramco with a powerful platform that is a game-changer, as our team push the limits of performance, knowing that they are protected by the most advanced solutions.”

“We are pleased to bring two world-class brands together and build on the successful partnership with Aston Martin Aramco Formula One® Team,” said Sally Jenkins, Chief Marketing Officer, SentinelOne. “AI has opened the door to a new and increasingly sophisticated set of threats to the enterprise, and cyber criminals are using it to execute attacks with unprecedented speed. As their Official Cybersecurity Partner, we can put the team in pole position and take their security to new levels.”

About SentinelOne

SentinelOne is a global leader in AI-powered security. SentinelOne’s Singularity™ Platform detects, prevents, and responds to cyber attacks at machine speed, empowering organizations to secure endpoints, cloud workloads, containers, identities, and mobile and network-connected devices with speed, accuracy and simplicity. Over 11,500 customers, including Fortune 10, Fortune 500, and Global 2000 companies, as well as prominent governments, trust SentinelOne to secure the future today. To learn more, visit www.sentinelone.com

About Aston Martin Aramco Formula One® Team

 The iconic Aston Martin marque was founded in 1913 by Lionel Martin and Robert Bamford, and has developed a succession of ultra-luxury high performance automobiles, including the iconic Goldfinger DB5, the V8 Vantage, the Vanquish and the DBX 707 – one of the world’s fastest SUVs.

The epitome of British luxury and technology on the road, the migration to the racetrack followed naturally. The marque famously won the 24 Hours of Le Mans in 1959 and briefly competed in Formula One in 1959 and 1960.

Aston Martin returned to the Formula One grid in 2021 under the leadership of Canadian entrepreneur, Lawrence Stroll. Since then, the team has invested heavily, opening its new AMR Technology Campus in Silverstone during the summer of 2023 – the sport’s first new F1 team base for almost two decades. A state-of-the-art wind tunnel is scheduled to be operational in 2024. The new Technology Campus helps the team’s environmental ambitions with better insulation, intelligent use of natural light, and solar panels helping power the site.

Aston Martin enjoyed its most successful season to date in 2023, securing eight podium positions and 280 points on its way to finishing fifth in the Constructors’ Championship. For 2024, double world champion Fernando Alonso and Canadian Lance Stroll head a driver line-up supported by Test and Reserve Driver Felipe Drugovich, Stoffel Vandoorne and Team Ambassador Pedro de la Rosa.

In 2024, Aston Martin will also take to the track in the all-female F1® Academy series with Swiss driver Tina Hausmann. She is supported by Aston Martin Aramco’s F1® Academy Head of Racing and Driver Ambassador, Jessica Hawkins, who tested one of the team’s F1 cars in 2023.

Off-track, Aston Martin Aramco conceived its Make A Mark platform – a commitment to drive positive progress through the influence of the team and the profile of Formula One.

Make A Mark is built upon three core pillars: sustainability, community and inclusion – all devised to champion an environmental, inclusive and diverse living and working culture with a programme that supports and educates young people, particularly from diverse and ethnic backgrounds, to drive career opportunities within motorsport and STEM.

Responsible business partners include Racing Pride to positively promote LGBTQ+ inclusivity within motorsport, while Spinal Track works with the team to improve accessibility and foster inclusion across the sport. A partnership with the Aleto Foundation provides a leadership programme for young ethnic minority students wanting to learn more about opportunities within motorsport. In January 2024 Aston Martin Aramco became the first Formula One team to comply with ISO standard 50001 – a globally recognised certification that outlines the requirements for improving energy efficiency and performance while reducing consumption and costs.

Cequence Reveals Love Bots are on the Loose

New research uncovers scammers are infiltrating dating apps with more than 660 million bot requests detected in 2023

William Glazier, Director of Threat Research at Cequence

Cequence Security today released new research that found scammers are increasingly active on dating apps, attempting to manipulate and exploit users for financial gain. These deceptive individuals pose as genuine romantic interests, building emotional connections before attempting to extract money from unsuspecting individuals.

Developed by the Cequence CQ Prime Threat Research Team, the report analysed anonymised 2023 traffic and attack data across multiple customers in the dating and media vertical across all geographies. The CQ Prime team identified and categorised active threats, and the resulting threat intelligence is a foundational element of Cequence products that enable mitigation and blocking to protect customers’ businesses.

 Key findings include:

  • 58% of all detected bot activity in 2023 originated from the U.S., up from 48% in 2021.
  • 28% of transactions were spoofing an iPhone app.
  • In 2023, more than 660 million bot requests on popular dating apps were detected.
  • More than 12 million unique accounts were protected from account takeovers.

“This Valentine’s Day, love is in the air, but so are scammers targeting lonely hearts on dating apps and looking for ways to extort money,” said William Glazier, Director of Threat Research at Cequence. “Thanks to the recent advancements in AI, bad actors are now leaning on automation to scale their operations, increasingly exploiting APIs to get the accounts they need to continue their scams. While legitimate end users should always watch for red flags, organisations that develop and manage the social and dating applications where these scams occur must take the appropriate measures to curb this malicious activity.”

According to the FTC, victims falling prey to the preferred falsehoods of scammers resulted in a substantial financial loss of $1.3 billion in 2022 alone. Bots serve as the linchpin for scammers, providing the means to scale their operations. Through the efficiency of automation, these perpetrators intensify their efforts, significantly elevating the likelihood of successful exploits.

“To combat romance fraudsters, dating sites and apps must find the perfect, long-term match to help protect their users from automated attacks,” Glazier continued. “These organisations must adopt a holistic security strategy that protects their APIs at every lifecycle phase. This means treating API security and bot management as interconnected challenges, not separate issues solved by isolated teams. This combined approach involves identifying and registering all APIs, ensuring rigorous adherence to industry standards, and deploying advanced threat detection and mitigation tools to defend against attacks.”

Additional Resources:

Google Cloud publishes Threat Horizons Report for 2024

Google Cloud has published its latest Threat Horizons Report, which provides intelligence-derived threat actor trends, expertise and recommendations to help inform cloud customer security strategies in 2024.

The Google Cloud Threat Horizons Report provides decision-makers with strategic intelligence about threats to cloud enterprise users, along with cloud-specific research, based on intelligence-derived threat actor trends and expertise from Google Cloud security leaders and practitioners.

Most importantly, the report delivers recommendations on mitigating these risks and improving cloud security posture from Google’s intelligence and security teams, including Google Cloud’s Office of the CISO, Google’s Threat Analysis Group, Mandiant, and various Google Cloud product teams.

The report’s findings suggest that IT environments are facing an increase in threats, both in number and sophistication. Arguably the most notable highlighting however, is that issues specific to cloud providers were  often due to poor security hygiene or mis-configurations, rather than underlying vulnerabilities.

The full report can be read/downloaded here: https://services.google.com/fh/files/misc/threat_horizons_report_h12024.pdf

Summary of the report:

As the digital landscape evolves, so do the threats posed to cloud environments.

Emerging Threats and Persistent Challenges:

The report underscores the persistence of credential abuse, cryptomining, ransomware, and data theft as top cloud security concerns in 2024. Threat actors are increasingly targeting cloud infrastructure, leveraging weak passwords and mis-configurations to gain unauthorised access. Cryptomining remains a lucrative endeavour for attackers, exploiting compromised cloud resources for financial gain. Additionally, ransomware attacks and data theft pose significant risks across all IT environments, necessitating robust data loss prevention strategies.

Addressing Evolving Tactics:

Threat actors are adapting their tactics, including manipulating and deleting security event logs to evade detection. Furthermore, espionage threat actors affiliated with the People’s Republic of China are increasingly targeting cloud services amid widespread adoption globally. These evolving threats require organisations to prioritise security event logging and implement stringent access controls to safeguard sensitive data.

Preparing for Global Events:

High-profile global events in 2024 present attractive targets for threat actors engaged in malicious activities such as information operations and espionage. Weaknesses within cloud projects may be exploited to achieve malicious objectives. Thus, organisations must remain vigilant and proactively enhance their cloud security posture to mitigate risks associated with these events.

Strategies for Defence:

To counteract prevalent threats, organisations must prioritise strong security measures. Google Cloud offers various security features, including two-factor authentication (2FA), strong password policies, IAM policies, Cloud Audit Logs, and Security Command Centre. These tools empower organisations to monitor for suspicious activity, enforce access controls, and respond swiftly to security incidents.

Mitigating Ransomware and Data Theft:

Ransomware attacks and data theft incidents continue to target unprotected cloud storage services and mis-configured networks. Strengthening cloud asset management and data protection is imperative to mitigate these risks. Weak credentials, mis-configurations, application vulnerabilities, and third-party issues contribute to system compromises, emphasising the need for comprehensive security measures.

Real-World Incidents and Insights:

Recent incidents highlight the real-world consequences of inadequate cloud security practices. For instance, suspected ransomware actors breached Slovenia’s largest power provider by exploiting unprotected cloud storage instances. Similarly, misconfigured servers during a data centre migration led to a ransomware attack on cloud-hosting firms, resulting in lost customer data.

Proactive Measures and Awareness:

Threat actors exploit vulnerabilities in cloud environments through sophisticated tactics such as probing weak storage bucket naming conventions. Organisations must prioritise proactive measures, including regular security assessments, employee training, and adherence to best practices to mitigate such risks effectively.

Conclusion:

As cloud adoption continues to accelerate, ensuring robust security measures is paramount. The Google Cloud Threat Horizons Report provides valuable insights to inform actionable strategies for safeguarding cloud environments in 2024 and beyond. By implementing proactive security measures and staying abreast of emerging threats, organisations can enhance their resilience against evolving cyber threats.

Volt Typhoon Threatens Critical Infrastructure Worldwide

A recent collaborative effort led by the United States Cybersecurity and Infrastructure Security Agency (CISA) has unveiled concerning details about the activities of Volt Typhoon, a formidable threat actor targeting critical infrastructure. Joined by international partners from the United Kingdom, Australia, and New Zealand, CISA’s report sheds light on the insidious tactics employed by Volt Typhoon post-infiltration.

The partnership comprised agencies such as the Australian Signals Directorate’s (ASD’s) Australian Cyber Security Centre (ACSC), the Canadian Centre for Cyber Security (CCCS), the United Kingdom National Cyber Security Centre (NCSC-UK), and the New Zealand National Cyber Security Centre (NCSC-NZ), highlighting a unified global effort to combat cyber threats.

While Volt Typhoon’s primary focus appears to be on American targets, the report serves as a wake-up call to the vulnerability of critical infrastructure worldwide. Specifically, the Australian and New Zealand critical infrastructure sectors are deemed susceptible to similar state-sponsored activities originating from the People’s Republic of China (PRC), according to assessments by ASD’s ACSC and NCSC-NZ.

Mandiant’s Chief Analyst, John Hultquist, elucidates the significance of the report’s findings, emphasising Volt Typhoon’s inclination towards disruptive attacks. Hultquist draws parallels between the actor’s targeting of critical sectors such as water, power, and transportation and similar destabilising activities witnessed in conflict zones like Ukraine.

Of particular concern is Volt Typhoon’s infiltration and reconnaissance efforts targeting operational technology (OT) systems within critical infrastructure networks. These systems, integral to the physical processes underpinning infrastructure operations, are being systematically probed and breached by Volt Typhoon. The implications are severe, as manipulation of OT systems could lead to widespread service disruptions or even pose grave safety risks.

Hultquist underscores the urgency of the situation, asserting that evidence of Volt Typhoon’s incursions into OT systems dispels any doubts about the severity of the threat posed by the actor. Such revelations underscore the critical need for enhanced cybersecurity measures and international collaboration to mitigate the risks posed to essential services and public safety.

The implications of the Volt Typhoon report extend beyond national borders. They serve as a stark reminder of the interconnected nature of cybersecurity threats and the imperative of collective action in confronting them. Governments, businesses, and cybersecurity professionals must unite in a concerted effort to fortify critical infrastructure against the ever-evolving tactics of malicious actors like Volt Typhoon.

In the face of escalating cyber threats, complacency is not an option. The Volt Typhoon report underscores the necessity for proactive measures, information sharing, and sustained vigilance to safeguard critical infrastructure and uphold the security and resilience of societies worldwide.

Cado Security Announces New Integration with CrowdStrike to Accelerate Forensics and Incident Response

New integration with the CrowdStrike Falcon platform helps to automate investigations and perform root cause analysis

Chris Doman, Chief Technology Officer and Co-Founder of Cado Security

Cado Security, provider of the first cloud forensics and incident response platform, today announced a new integration with the AI-native CrowdStrike Falcon® platform to improve forensics investigations and accelerate response times. Available in the CrowdStrike Marketplace, organisations can leverage the new Cado Security platform integration with the Falcon platform to automatically gain access to forensic data, adding depth to incident investigations.

Cado Security integrates with CrowdStrike Falcon® Insight XDR to enable security teams to perform investigations and respond to threats faster with enriched security telemetry from the Falcon platform. The Cado Platform leverages the scale and speed of the cloud to automate the end-to-end incident response process – from forensic data capture and processing to investigation and response. Once malicious activity is detected by the Falcon platform, Cado leverages CrowdStrike Real Time Response (RTR) capabilities to automatically collect and analyse forensic data from the customer’s impacted systems, enabling security teams to rapidly perform root cause analysis and identify scope and impact for accelerated incident response.

Key benefits of the integration include:

  • Rapid response times: automated, end-to-end incident response, from data collection and processing to investigation and response, drastically reduces response times.
  • Faster investigations: customers gain immediate access to robust forensic evidence and key incident details, including the root cause and scope, for faster investigations.
  • Improved productivity: by eliminating tedious investigative tasks, customers get the answers they need without using complex scripting and queries;
  • Comprehensive visibility: perform forensics investigations across the environment on-premises, hybrid, and cloud.

The CrowdStrike Marketplace connects CrowdStrike customers to the Cado platform, a trusted integration to the Falcon platform, simplifying customers’ security stacks, reducing their operational costs and helping to manage complexities seamlessly.

“The collaboration between CrowdStrike and Cado Security empowers security teams with the comprehensive capabilities required to identify, analyse, and address incidents quickly, setting a new standard for speed and effectiveness,” said Chris Doman, CTO and Co-Founder of Cado Security. “The CrowdStrike Marketplace makes it easy for us to meet customers where they already are and enable easy procurement with new applications directly available for purchase.”

To learn more about Cado’s platform capabilities, please visit https://www.cadosecurity.com/platform/.

The Truth About Dishonesty

Author Dan Ariely is a professor psychology and behavioral economics at Duke University in the US. He has a Ph.D. in cognitive psychology, and a second PhD in Business Administration.

In this episode of the Security Insider podcast, we speak with Dan Ariely, professor of psychology and behavioural economics at Duke University. He has a Ph.D. in cognitive psychology and a second Ph.D. in business administration. In addition to his role at Duke University, Dan was a columnist with the Wall Street Journal from 2012 until 2022 and has written three New York Times best-selling books, Predictably Irrational, The Upside of Irrationality and The Honest Truth about Dishonesty, and he has just released a new book, Mis belief. Dan also co-produced the 2015 documentary (Dis)Honesty: The Truth About Lies.

In this episode, we speak with Dan about what drives dishonesty and how we can better understand dishonesty to minimise dishonest behaviour in our teams and our industry.

Entrust moves into exclusive discussions to acquire AI identity verification leaders Onfido

Trusted identities organisation Entrust has announced that it has entered into exclusive discussions to acquire London-based Onfido, a global leader in cloud-based, AI-powered identity verification (IDV) technology.

Onfido helps millions access services globally, from billion-dollar institutions to hyper-growth startups.

The company has safely processed more than 200 million identity checks with 2,500+ document types and passports from 195 countries. The Onfido platform allows businesses to tailor verification methods to individual user and market needs in a no-code orchestration layer – combining a mix of document and biometric verifications, trusted data sources, and passive fraud signals to meet their risk, friction, and regulatory requirements.

With this contemplated acquisition, Entrust would add a market-leading, compliant AI/ML-based biometric and document IDV tech stack to its portfolio of identity solutions. Additionally, Entrust would have the opportunity to advance the use of biometric-based, highly phishing-resistant authentication in high-value transactions and signing events. This potential acquisition would bring industry-leading technology together to provide enhanced identity-based solutions that enable more trusted and secure interactions at scale for people, enterprises, and institutions.

 

“We chose to enter into discussions to acquire Onfido because we believe they have the best-in-class IDV team, capabilities and tech stack in the world. With the emergence of AI-based attacks, the identity verification game has changed. Deepfakes and synthetic identity are driving a global need for a powerful level of identity assurance that facilitates crucial digital journeys in banking, finance, government, travel, and more. Step-up authentication using biometric-based, AI-driven identity verification will be critical to ensuring security, privacy, and trust in these high-value digital-first interactions,” said Todd Wilkinson, president and chief executive officer, Entrust.  “Onfido IDV solutions have proven their value in Europe’s high-compliance environment. With the proposed acquisition of Onfido, Entrust would have the opportunity to provide unmatched identity security solutions at a time when they are needed most among enterprises and institutions.”

 

Founded in 2012, Onfido makes it easy for people to access services through digital verification. The company has over $130 million in annually recurring revenue (ARR) and more than 500 employees. Onfido’s over 1,200 customers globally include some of the world’s leading financial institutions, e-commerce, gambling and gaming companies, and sharing economy platforms.

 

Any agreement remains subject to regulatory approval and other steps required in accordance with applicable laws.

 

“We’re excited to be entering into early and exclusive discussions with Entrust to potentially expand access to the most advanced and secure digital identity verification solutions worldwide,” said Mike Tuchen, Onfido’s chief executive officer. “Digital identities are enabling new levels of simplicity and access for people across the globe. The potential of Onfido’s powerful AI and machine learning-driven identity verification and Entrust’s proven identity security solutions would make a new world of digital trust possible.”

 

Morgan Stanley & Co. LLC served as exclusive financial advisor and Wilson Sonsini Goodrich & Rosati served as legal counsel to Onfido. Moelis & Company LLC served as exclusive financial advisor and Latham and Watkins LLP served as legal counsel to Entrust.