Wave Systems Corp. (fka WAVXQ)

[Genz2]

Cybercrime could cost companies trillions over the next five years

https://www.helpnetsecurity.com/2019/01/21/cybercrime-could-cost-companies-trillions/

Companies globally could incur $5.2 trillion in additional costs and lost revenue over the next five years due to cyberattacks, as dependency on complex internet-enabled business models outpaces the ability to introduce adequate safeguards that protect critical assets, according to Accenture.

Based on a survey of more than 1,700 CEOs and other C-suite executives around the globe, the report — Securing the Digital Economy: Reinventing the Internet for Trust — explores the complexities of the internet-related challenges facing business and outlines imperatives for the CEO’s evolving role in technology, business architecture and governance.

The report notes that cybercrime from a wide range of malicious activities poses significant challenges that can threaten business operations, innovation and growth, and the expansion into new products and services, ultimately costing companies trillions of dollars.

The high-tech industry faces the highest risk, with more than $753 billion hanging in the balance, followed by the life sciences and automotive industries, with $642 billion and $505 billion at risk, respectively.

“Internet security is lagging behind the sophistication of cybercriminals and is leading to an erosion of trust in the digital economy,” said Omar Abbosh, who leads Accenture’s Communications, Media & Technology operating group globally. “Strengthening internet security requires decisive — and, at times, unconventional — leadership by CEOs, not just CISOs. To become a cyber-resilient enterprise, companies need to start by bringing CISOs’ expertise to the board, ensuring security is built-in from the initial design stage and that all business managers are held responsible for security and data privacy.”

Among the key findings: Four in five respondents (79 percent) believe that the advancement of the digital economy will be severely hindered unless there is dramatic improvement to internet security, and more than half (59 percent) of respondents said the internet is getting increasingly unstable from a cybersecurity standpoint and they are unsure how to react.

At the same time, three-quarters (75 percent) of respondents believe that addressing cybersecurity challenges will require an organized group effort, as no single organization can solve the challenge on its own. With heightened concerns about internet security, more than half (56 percent) of executives would also welcome stricter business regulations imposed by a central organization or governing body.

“The internet wasn’t built with today’s level of complexity and connectivity in mind, which is why it takes just one click — whether inside or outside the company walls — to fall prey to a devastating cyberattack,” said Kelly Bissell, senior managing director of Accenture Security. “No organization can tackle the challenges posed by cyber threats on its own; it’s a global challenge that needs a global response, and collaboration is key. To shape a future that thrives on a strong and trustworthy digital economy, senior executives need to look beyond the bounds of their organization, team with an ecosystem of partners, and secure their entire value chains — across every partner, supplier and customer.”

The rapid emergence of new technologies is creating additional challenges, as four in five respondents (79 percent) admit that their organization is adopting new and emerging technologies faster than they can address related cybersecurity issues, with three-quarters (76 percent) noting that cybersecurity issues have escaped their control due to new technologies such as the internet of things (IoT) and the industrial internet of things (IIoT). A majority (80 percent) also said protecting their companies from weaknesses in third parties is increasingly difficult, which isn’t surprising given the complexity of today’s sprawling internet ecosystems.

Also, on the minds of many senior executives: consumer data protection. Fueled by security concerns, 76 percent of respondents believe that consumers can’t trust the safety of their online identities when too much of their personal data is already available without restrictions.


==================================================================
https://www.wavesys.com/wave-alternative

The IT perimeter is gone

With tablets, smartphones, and cloud applications, your employees can access sensitive data anytime, from anywhere. Indeed, around 70 percent of security breaches and data thefts are inside jobs. Meanwhile, the hackers only get better: advanced persistent threats (APTs) appear as normal traffic, and malware can go unnoticed for weeks.

It’s a new world, one without borders. Yet most organizations are still trying to protect their data with the same old firewalls and antivirus software. It’s not working. We refer you to the headline-making breach of the week.

You have to start with the device

Wave has an alternative: security that’s built into each and every device.

We’re talking about hardware: self-encrypting drives (SEDs), which protect data when a device is stolen or lost, and trusted platform modules (TPMs), or embedded security chips. Both go in at the factory, and increasingly, both are standard. They make it possible for you to monitor and control each individual device and its data, no matter where it is. But you need software to turn on and manage your SEDs and TPMs. Wave makes that software.

We’ve been refining comprehensive, centralized management of hardware-based security longer than anyone else. More than that, we’ve shaped the field as a founding member of the Trusted Computing Group, the not-for-profit that develops and promotes industry standards for the hardware.

Security that’s confirmed, not assumed

With Wave, you’ll know that you’re secure. Because we start with the individual devices, you get a broad, deep view of your network. You can see exactly who’s on it, with what devices and what apps, at any given time. Just for example, if Bob goes home and tries to log onto Facebook with the company laptop, Wave can stop him.

A big piece of this heightened security is device authentication. Traditional two-factor authentication requires what amounts to two user IDs. But by using the TPMs inside your devices, Wave can confirm the identity of not only users, but also the devices they’re on. Combine that with fast, enforced encryption of sensitive data via your SEDs—all easily managed with Wave software—and your data is protected from the full range of modern risks: device theft, missent emails, flash drives, portable hot spots … even (and no one else can say this) hardware keyloggers. Not to mention Bob.

Do we need to say that with Wave, compliance is no problem?

Start closing your security gaps today, with what you’ve got

You might be surprised to hear that 90 percent or more of your computers probably already have TPMs. Mobile devices are catching up fast. SEDs are newer, but you probably have a bunch of those too. Machines that don’t have them can often be outfitted at little to no extra cost. So you’ve got some or all of the hardware. All you need to do is turn it on with Wave.

It’s almost as easy as it sounds. TPMs and SEDs are built to open, vendor-neutral industry standards, and so are Wave solutions. That means Wave works on your existing mix of hardware, across platforms, and will evolve with you. It’s part of what makes the Wave alternative not only more secure, but also simpler and cheaper. Total cost of ownership for Wave data protection can be almost half that of a traditional software-based system.

Questions? Read on, or contact our sales department.
=================================================================
https://www.wavesys.com/products/embassy%C2%AE-remote-administration-server-tpm-management

https://www.wavesys.com/products/wave-virtual-smart-card