Growth of Remote Workspaces Reinforces the Need for Effective Cybersecurity

- FinancialBuzz.com News Commentary

NEW YORK, Jan. 14, 2021 /PRNewswire/ -- The pandemic has resulted in many office-based teams adapting to a work-from-home environment. This new working infrastructure has also forced numerous security operation centers (SOC) to work remotely, while simultaneously having to deal with an increased number of cybersecurity threats. "Working remotely is subject to distractions that you would not typically have in a physical SOC, such as family, friends, pets, roommates or even not having a good home setup, such as working from the couch versus your typical desk," Chris Triolo, Vice President of Respond Software explained, according to a report by ZDNet. The recent major hack of SolarWinds, which compromised federal agencies and thousands of companies worldwide who use SolarWinds' Orion software to monitor their computer networks, was also a major wakeup call to the industry. Plurilock Security Inc. (TSX-V: PLUR) (OTC: PLCKF), Qualys, Inc. (NASDAQ: QLYS), CrowdStrike Holdings, Inc. (NASDAQ: CRWD), Ping Identity Holding Corp. (NYSE: PING), Proofpoint, Inc. (NASDAQ: PFPT)

Several tech companies, including Microsoft, have since commented on the hack, with the technology conglomerate explaining in a blogpost that "this latest cyber-assault is effectively an attack on the United States and its government and other critical institutions, including security firms. It illuminates the ways the cybersecurity landscape continues to evolve and become even more dangerous. As much as anything, this attack provides a moment of reckoning. It requires that we look with clear eyes at the growing threats we face and commit to more effective and collaborative leadership by the government and the tech sector in the United States to spearhead a strong and coordinated global cybersecurity response." Overall, the global cyber security market size overall was valued at USD 156.5 Billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 10.0% from 2020 to 2027, according to data by Grand View Research.

Plurilock Security Inc. (TSX-V: PLUR) (OTC: PLCKF) announced yesterday breaking news that, "the Company has a patent pending with the United States Patent and Trademark Office to document a new form of continuous authentication.

The application covers a continuous authentication method to validate and confirm the identity of a user during remote work. The process involves comparing the digital user's distinct and unique patterns (i.e., keystrokes) with patterns previously collected, while enabling the user to work on a remote device and/or in a remote setting without any interruption. Plurilock's latest continuous authentication method, as documented in the patent pending application, will enable companies to constantly authenticate the identity of their employees and staff even though the user is completely 'invisible' to them.

'The filing of our provisional patent application validates our intention to create innovative authentication solutions that are designed to prevent, and address security challenges faced by the enterprise customers that have a growing remote workforce,' said Ian L. Paterson, CEO of Plurilock Security Inc. 'As the world moves to remote work, we plan to develop more advanced continuous authentication solutions that can challenge the current industry standards while ensuring our clients' workflow remains uninterrupted in and out of the office.'

For our latest "Buzz on the Street" Show featuring Plurilock Security Inc., recent corporate news, please head over to: https://www.youtube.com/watch?v=wYslr35j8WQ  

Qualys, Inc. (NASDAQ: QLYS) is provider of cloud-based security and compliance solutions. Earlier in November the Company announced that Armor, a global provider of cybersecurity software that protects workloads in public, hybrid and private cloud environments, is integrating the Qualys CloudView app, which includes Cloud Inventory and Cloud Security Assessment, into Armor Anywhere, an industry-leading cloud security platform. "The Qualys Cloud Platform is highly scalable and easily integrates with Armor's security and compliance platform," said Mark Woodward, CEO of Armor. The addition of Qualys CloudView allows us to further accelerate compliance outcomes and protect customers from intentional and accidental risks in their public clouds."

CrowdStrike Holdings, Inc. (NASDAQ: CRWD) announced last month the release of the annual CrowdStrike Services Cyber Front Lines Report, which brings together the insights and observations of CrowdStrike's global incident response (IR) and proactive services teams in 2020. reveals the broad-reaching impact remote work has had on cybersecurity, as corporate networks around the world were turned inside out to accommodate remote workers. "Remote work has redefined the playing field between cyber attackers and defenders, and that's clearly demonstrated in the CrowdStrike Services Cyber Front Lines Report. Corporate networks now span both office and home, providing a wealth of new attack surfaces and vectors that adversaries can exploit," said Shawn Henry, Chief Security Officer and President of CrowdStrike Services at CrowdStrike. "Holistic coordination and continued vigilance are key in detecting and stopping sophisticated intrusions. Because of this, we're seeing a necessary shift from one-off emergency engagements to continuous monitoring and response. This will better enable incident response teams to help customers drastically reduce the average time to detect, investigate and remediate from 162 hours to less than 60 minutes."

Ping Identity Holding Corp. (NYSE: PING) announced last year that it has acquired Symphonic Software, a leader in dynamic authorization for protecting APIs, data, apps and resources through identity. Dynamic authorization gives IT teams ultimate flexibility to control what users can see and do, enabling enterprises to more easily prevent fraud, improve cybersecurity, and comply with regulations. "With increasing data privacy regulations, users are demanding that enterprises give them better digital experiences with more transparency and control," said Andre Durand, CEO and Founder of Ping Identity. "The acquisition of Symphonic accelerates our vision for enterprises to not only maintain security and compliance with confidence, but to easily deliver personalized, trustworthy experiences."

Proofpoint, Inc. (NASDAQ: PFPT) reported back in November that it has been named the winner of the "Overall Enterprise Email Security Solution Provider of the Year" award in the fourth annual CyberSecurity Breakthrough Awards program conducted by CyberSecurity Breakthrough, a leading independent market intelligence organization that recognizes the top companies, technologies and products in the global information security market today. "Proofpoint is a pioneering leader in the cybersecurity industry and their continued commitment to innovation and breakthrough detection and protection techniques are unparalleled," said James Johnson, managing director, CyberSecurity Breakthrough. "We fully anticipate that business email compromise (BEC) and other enterprise email threats will continue to increase in volume and complexity, and we are pleased to see Proofpoint tackle this challenge head-on with an extremely powerful and targeted platform to keep email communications flowing. Congratulations to Proofpoint on their continued success and well-deserved 2020 CyberSecurity Breakthrough Award."

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