Wave Systems Corp. (fka WAVXQ)

[Genz2]

Security Spending Doubles but Two-Fifths of Firms Suffer Breaches

https://www.infosecurity-magazine.com/news/security-spending-doubles/

Cybersecurity spending across the US and Europe has surged over the past year, but so too have security breaches, from 38% to 43% of businesses surveyed by Hiscox.

The insurer’s annual Hiscox Cyber Readiness report has become a useful gauge of how mature and effective organizations’ cybersecurity strategies are. This year the firm engaged Forrester Consulting to poll over 6000 such companies across the US, UK, Belgium, France, Germany, Spain, the Netherlands and Ireland.

It revealed that the average firm now spends more than a fifth (21%) of its IT budget on cybersecurity, an increase of 63% in a year, with mean spending per firm more than doubling in two years — from $1.45 million to $3.25 million.

However, this money isn’t necessarily improving outcomes, given that successful attacks are on the rise. Over a quarter (28%) of those targeted suffered five or more such attacks, with almost a fifth (17%) claiming the financial impact materially threatened the company’s future.

Ransomware had a major impact on organizations last year: 16% suffered attacks and over half (58%) paid up, rising to 71% in the US, according to the report.

Hiscox also appraises organizations by their “cyber readiness” across six key areas of people, process and technology.

It found there was much work still to do, with just a fifth (20%) named as “experts” and more than a quarter (27%) classed as “novices.”

Perhaps unsurprisingly, those deemed experts suffered fewer ransomware attacks, were less likely to pay up and recovered more quickly.

The US had the highest proportion of cyber “experts” (25%) and one of the lowest median costs of attacks. Although the UK ranked second, with 23% of firms named as experts, they were least likely to have had a cyber-attack (36%) and most likely to have defended it successfully, according to Hiscox.
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http://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.
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