Tag Archives: Risk Management

Cyber security firm Foregenix scoops Queen’s Award for Enterprise

A cyber security firm has picked up the Queen’s Award for Enterprise. Foregenix, which celebrates its 10th Anniversary this month, received the award for its work in international trade and is believed to be the first cyber security consultancy with a determined focus on protecting the payment and finance industries to pick up the accolade.

Headquartered in the UK, Foregenix has generated around 60% of its revenue from international sales over the past four years, helped by new offices in Boston servicing North America, Frankfurt, Europe, Sydney, Australasia and São Paulo, Brazil and a new base in Singapore in 2019.

Foregenix offers a range of services including managed detection and response, digital forensics, compliance and risk. It’s one of the leading certification companies for payment systems on PCI point-to-point encryption and an authority on ATM ‘cash-out’ attacks.

The Queen’s Award for Enterprise follows on from recognition by The Sunday Times as one of the Top 100 SME exporters in 2017 and 2018.

ForegenixPaulHumpageAndrewHenwoodBenjaminHosack

Left to Right: Paul Humpage, Andrew Henwood and Benjamin Hosack of Foregenix

The Queen’s Awards have recognised the achievements of British businesses since 1965. Around 200 businesses receive the accolade each year.

Co-founder and CTO Andrew Bontoft commented: “It’s testimony to the brilliant work and dedication of our global team that we’ve received this prestigious award. We’re very proud of what the team has achieved and grateful for the recognition this award signifies. We would also like to thank our clients and suppliers for helping us to achieve this honour.”

CEO Andrew Henwood added: “Foregenix aims to protect businesses and organisations from criminals who attempt to endanger people’s livelihoods and futures for their own enrichment. It’s a cause that resonates with our customers. We offer them practical advice and solutions for baked-in security and real risk reduction.”

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Echosec launches security-focused anonymous search tool for The Dark Web

Online data aggregation and information discovery specialist Echosec has introduced Beacon, a search platform for The Dark Web purpose-designed to help discover threats and prevent future attacks.

Beacon is an intelligence tool that helps security teams and public safety professionals alike to find key information from The Dark Web safely through a regular web browser. Previously, the only way to access The Dark Web was through a TOR browser.

The Dark Web is non-indexed and non-secure, yet searching it is crucial for security and public safety organisations as it’s a veritable hotbed for nefarious activity. Beacon provides end users with a single point of entry into The Dark Web and presents critical information in a structured and consistent way.

Organisation of Dark Web data makes analysis of it more efficient and threat intelligence actionable for law enforcement, security and risk managers.

EchosecBeacon

“Beacon helps teams to quickly identify information that can prepare them for the worse case scenario,” said Michael Raypold, CTO at Echosec. “Through Beacon, end users can identify threats quickly and enable efficient issues management.”

A basic Beacon search can provide intelligence on subjects like drug trafficking, the sale of firearms and hacker data. A UK search conducted on 12 April found 14,849 instances of hacker data using the keyword “UK + hacking,” while “UK + credit card” returned 16,600 and “UK + guns” 2,650 results respectively.

More advanced search functions in Beacon have produced thousands of results for information on the sale of identities, e-mail addresses and other personally identifiable information. One excerpt from a credit card search result on a Dark Web site reads: “Hello all clients ! – I’m a hacker, good seller, best tools, sell online 24h. – I want introduce to you my services and sell fresh cvv (visa/master,amex,dis,bin,dob,fullz..) all country, Dumps track 1&2, Account paypal, SMTP, RDP, VPS, Mailers, do WU transfer and Software Bug Transfer Western Union. – I sell cvv Fresh – Fast and Good price.”

Beacon is commercially available and simple and safe to interact with for users of all backgrounds. However, due to the sensitive nature of The Dark Web, Echosec meets with potential customers to review and approve their case before providing access. Echosec also takes steps to ensure that Beacon use is compliant with the current privacy laws and data provider terms.

*More information about Beacon may be found at https://www.echosec.net/darknet/

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BAE Systems launches “major update” to NetReveal platform for financial institutions

The latest version of BAE Systems’ NetReveal platform combines the best of advanced analytics and human expertise to enable financial institutions to effectively combat financial crime and fraud in an environment of rapidly evolving regulatory requirements and changing financial crime patterns.

Faced with increasing transactions, evolving regulations, a growing number of payment channels, customer friction, investigation challenges and strengthening privacy regimes, financial crime and fraud investigators are under pressure to make more confident and intelligence-led decisions and do so at an unprecedented pace.

Built on modernised modular technology, NetReveal addresses these challenges by working smarter and faster and supporting an intelligence-led approach:

Smarter: Profiling and detection against transactional data that commonly takes hours to process is now processed within 30 minutes (on average)

Faster: Advanced analytics with machine learning techniques improve operational performance by driving fewer false positives. Integrated Robotic Process Automation (RPA) means that routine tasks are automated, enabling investigators to focus more on high value strategic investigative work. The Real-Time Detection Engine helps institutions to keep pace with sophisticated criminals across growing digital channels

Intelligence-Led: Entity-based investigations deliver efficiency improvements of 20-30% on average by streamlining multiple detections into a single combined alert dashboard. Interactive lists also provide actionable information to adjudicate alerts effectively

BAESystems

Culmination of major investment

Rob Harrison, head of product and solutions for the financial services sector at BAE Systems Applied Intelligence, said: “This release is the culmination of major investment and engineering development of our financial crime platform and suite of solutions. We’ve focused on providing compliance and fraud teams with the latest advanced analytics, technology advancements and productivity improvements.”

Harrison added: “The latest version of NetReveal combines the best of human expertise and advanced analytics which we believe puts financial institutions in the strongest position possible to address the major market challenges of today, namely regulatory complexity and change, evolving fraud patterns, productivity and efficiency pressures and new risk management approaches.”

Julie Conroy, research director for the Aite Group’s Retail Banking practice, commented: “The use of RPA to improve financial crime operations significantly increases accuracy, reduces operational costs and enhances productivity. Given the growing data challenge, having the ability to advance investigator efficiency by reducing repetitive manual tasks, human error and, by extension, the number of false positives ultimately frees up time to focus on more strategic tasks.”

NetReveal is a single integrated platform for money laundering compliance and fraud prevention, enabling financial institutions to benefit from lower total cost of ownership across their compliance and fraud teams thanks to a single solution.

A comprehensive range of compliance and counter-fraud solutions can be deployed either individually or collectively.

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Linx International Group expands team with new Group marketing manager and marketing co-ordinator

Linx International Group – the global provider of security, risk management, consultancy and training services – has announced the appointment of Group marketing manager Jerry Alfandari and marketing co-ordinator Victoria Carter.

Fluent in both English and German, Alfandari has a proven track record of managing international marketing campaigns including social and digital content strategies. He’s joined by Victoria Carter, who brings expertise in social media, public relations and video production to the team.

On his appointment, Alfandari explained: “I’m excited to be part of a team that’s working with security practitioners at all levels around the world to develop and launch new courses along with innovative training methods.”

Victoria Carter and Jerry Alfandari

Victoria Carter and Jerry Alfandari

Carter added: “Training and education has always been central to my own career progression, so I’m excited to be joining a company that shares my ethos and is committed to professionalism across the security sector.”

Led by director of sales and marketing Sarah Hayward-Turton, the marketing team will promote the Linx International Group brand and the work of its companies – Tavcom Training (including the CTSP Register), PerpetuityARC Training and the Linx Consultancy.

Hayward-Turton stated: “It’s an exciting time to be part of the Linx International Group. We’re bringing new talent into the organisation, as well as nurturing and developing the skills of those that have been with us for many years.”

Alfandari and Carter are based at the Linx International Group’s Training Centre in Bishops Waltham, Hampshire.

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Shred-it proud to join ranks of UK’s Business Superbrands in 2019

Shred-it, the information security company, has been awarded Business Superbrand status for 2019. Shred-it’s protection solutions and services include secure document destruction, media destruction, branded goods and uniforms destruction as well as recycling services. It helps businesses to comply with legislation and ensures that customer, employee and confidential business information is protected at all times.

The Business Superbrands survey has been tracking the perception of a wide-range of business brands in the UK since 2001. This year’s research process, managed by The Centre for Brand Analysis (TCBA) in partnership with Dynata – one of the world’s leading data research companies – evaluated approximately 1,600 brands across 63 categories and involved 2,500 UK business professionals with an expert council comprising 24 senior business-to-business marketing leaders. Only the most highly-regarded brands from each category are awarded Superbrand status.

Unusually for an industry award, brands do not pay or apply to be considered. In order to provide a broad review of the market and identify the strongest brands in each category, all the key players in each sector need to be voted on. All voters were asked to judge brands against the three core factors inherent in a Superbrand, namely quality, reliability and distinction.

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Additionally, brand perception and voting by individuals is also influenced by a range of both short and long-term factors, from the brand’s current profile to its latest marketing activities and new product and service developments, in turn affording an holistic picture of how brands are currently perceived.

Stephen Cheliotis, CEO of TCBA and chairman of Superbrands, commented: “In unsettled times, businesses that are well-regarded and possess a positive reputation benefit from competitive advantage over weaker branded rivals, providing greater immunity against short-term market volatility. Being perceived by buyers and influencers as a leading Business Superbrand is a positive business signal, while also recognition of the hard-work and dedication of the employees of each business attaining Superbrands status.”

Secure document and media destruction

Secure document and media destruction are critical in today’s data-driven environment as security compliance and risk management have become a critical part of the business landscape. This is duly reflected in a worldwide market that’s forecast to grow 8.7% to US$124 billion in 2019 (Source: Gartner Inc.). This is being driven by several factors including a greater and broader understanding of security risks and data breaches, privacy concerns and stricter regulation around data loss prevention as well as the need to view sensitive data and related systems as critical infrastructure.

ShreditTruck

Andrew Johnston, marketing and PR director (EMEA) for Shred-it, stated: “In an increasingly competitive market, Shred-it sought a clear point of differentiation to distinguish its offer. The business identified a number of key insights following research of its worldwide customer base which led to the brand’s positioning around the ‘We protect what matters’ strapline. Shred-it protects people, it protects customers, it protects brands and reputations and it protects the environment. This has enabled the brand to better focus its communications around the core idea of protection – the brand’s ‘red thread’ – which is transferable across markets, sectors and channels.”

The business has a one team, one goal motto with a customer first approach to ensure the safeguarding, understanding and management of confidential information. Shred-it’s values around excellence in service provision, depth of experience and sector knowledge, accountability and integrity, together with sustainability and continuous improvement underpin its market position.

*To learn more about Shred-it visit www.shredit.co.uk/superbrands or watch the video

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ABB places well-being of Control Room operators centre stage with latest digital solution

ABB is launching a new digital solution as part of its ABB Ability unified, cross-industry digital offer. The new solution will provide Security Control Room operators with direct insights into their own environmental conditions, allowing them to adjust those conditions according to their individual preferences.

The result is what ABB describes as “a complete micro environment that adapts to each individual’s needs and is achieved through the measurement and grading of factors such as air quality, temperature, lighting, environment and humidity”.

Operators also receive information on factors such as how long they’ll-being. That being so, they can reduce the risk of potential health problems such as heart disease, Type 2 diabetes and obesity which not only benefits the operator, but also helps to reduce the level of absence due to sickness within a business.

“At ABB, we really understand the crucial role an optimised Control Room environment has for a business,” explained Pierre Skönnegård, ABB’s global product manager for Control Room solutions. “The wrong environment can lead to human error that can cost a business dearly. In fact, 40% of all industrial downtime is due to operator errors caused by fatigue. By creating the right environment, this new solution will go a long way towards addressing the problem.”

ABBSecurityControlRoom

A pilot project using the new application is already underway at the Research Institutes of Sweden (RISE) and it will be rolled out globally in the first quarter of 2019.

“Operator well-being in the Control Room is a key element for consideration in project development.” stated Larisa Rizvanovic, senior scientist at RISE. “We will be exploring this new digital solution from ABB with our industrial partners such that they can also maximise the benefits it brings for their operators.”

The solution offers the possibility of creating a number of preferences and personal settings at any workstation, making it ideal for those businesses where there is shift working and also for those running a 24/7 Control Room operation.

Optimised light in the Control Room space, for example, decreases the risk of workers developing eye problems. The right balance between the monitors and the surrounding lights is crucial and can now easily be monitored and adjusted. The cloud-based application works in synergy with many other ABB Ability solutions, and provides a platform for information which can be shared between systems in the near future.

The consolidation and analysis of the collected data stored in the cloud is presented on a well-being/safety dashboard. Data is ranked automatically according to important standards such as ISO 11064. Specific business-related KPIs can be determined in relation to human factors and ergonomics.

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Institute of Risk Management launches Regional Group focused on Belgium and Luxembourg

The Institute of Risk Management (IRM) has formed a Regional Group for Belgium and Luxembourg. The objective is to fill a gap in the Benelux market where there’s a lack of opportunity for risk management practitioners to network and learn from each other.

The all-new Regional Group will focus on connecting risk management professionals in the area and raising the profile of important risk management topics and developments within each industry represented.

Ultimately, the Regional Group will provide a forum for members from a diverse range of organisations, risk disciplines and sectors to network, exchange views and share Best Practice with peers on a local footing. Specifically, the Regional Group will host events and enable cross-industry pollination.

The initiative is to be run by senior risk professionals emanating from various industries including life sciences, financial services, risk advisory and construction. The chairman is David Lannoy (technical specialist at the IRM). The treasurer is Pierre Poncelet, with the new secretary being Kenneth Willems. The community manager for Belgium is Nicolas Renard, with this opposite number for Luxembourg being Simon Muir.

IRMLogo

David Lannoy informed Risk Xtra: “The Initial priority will be to attract members and build a network. We aim to host four events each year focused on relevant topics and aim to include contributions from high-profile international speakers with proven backgrounds in risk management activities. There will also be round table discussions with current IRM members to inform thought leadership and shape industry practice.”

Lannoy continued: “Aside from these specific activities, we’ll also aim to bring together IRM members in a friendly environment and encourage networking, spreading events across the region to increase the participation of willing professionals. We will bring members together who, in turn, will have the opportunity to share their own knowledge and experiences during events. The Regional Group will also look towards developing a risk talent incubator by reaching high-profile students and professionals through challenges to promote the profession.”

Socrates Coudounaris CFIRM, chairman of the IRM and risk management director at the RGA International Reinsurance Company, added: “We’re pleased to have the opportunity to launch this Regional Group with the support of experts. Our relationships with firms in the Benelux region have always been excellent and we welcome the opportunity to strengthen them further. Excellence in risk management requires a strong understanding of general concepts and techniques, but also an appreciation of the detailed risk landscape in particular sectors. This new Regional Group will help to enhance our interconnectedness.”

*Those professionals interested in joining the Regional Group should contact: marketing@theirm.org

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