Ecrypt Technologies, Inc. (ECRY) Answers Top Question Pertaining to Recent Target Breach, Similar Cyber-Attacks

Credit card information of tens of millions of Target customers were compromised over the 2013 holidays in a data breach that began with a malware-laced e-mail phishing attack sent to employees at Fazio Mechanical Services, Inc. (FSM), an HVAC firm that was contracted for electronic billing, contract submission, and project management with the nationwide retailer.

The Wall Street Journal reported that financial institutions in the case of the Target breach alone have spent more than $200 million alone to ease consumer concern, spending $172 million just to replace cards that have been compromised. Obviously, clean-up costs of a security breach are staggering.

On average, data breaches and subsequent fines and litigation cost a U.S. business $534 million every year, the highest in the world according to the Ponemon Institute. The direct monetary costs paired with the dramatic expenses of wounded consumer relations and potential non-compliance with payment card industry (PCI) security standards can be crippling to an organization of any size.

As a follow-up to the holiday shopping Target attack, Forbes recently published an article posing three critical questions for information technology (IT) security organizations: “Did FSM really need electronic connectivity to Target’s networks?; Did Target investigate and test FSM’s security before connecting them to the network (and vice versa)?; How did an attacker get from the part of Target’s network that FSM was connected to over to Target’s payment network (and not get noticed!)?”

Questions of the sort are unquestionably warranted in this case, though the reason for such questions reverts back to answer one simple, yet powerful question: “HOW do you prevent a security breach?”

FSM’s strategy to avoid malicious cyber-attacks (such as the one to which it fell victim) was to use a free version of Malwarebytes Anti-Malware (MBAM), which is effective in its purpose of identifying and eliminating threats from host machines. However, the free version of MBAM does not offer real-time protection against threats and is made solely for individual users – it’s license actually prohibits corporate use.

Corporations obtain overwhelming amounts of financial and personal data through consumer transaction, internal communication, external communication, and more. Having a powerful, real-time and comprehensive security strategy is integral to mitigating security breaches while protecting this valuable information. Perpetrators of malicious cybercrimes don’t rely on dated cyber schemes – they are constantly evolving, constantly on the move, always advancing their technology and techniques in an effort to stay ahead of the game.

Efficient and innovative security solutions providers are well aware of this fact. Ecrypt Technologies, a publicly traded emerging provider of powerful (we’re talking military-strength) data security solutions, is constantly advancing its solutions to address information security challenges of the 21st Century. The company enables organizations of all size to fearlessly communicate and collaborate (as in the case of Target with FSM) without the risk of liability, reputation damage, competitive threat, security breach, or other adverse outcomes.

Ecrypt’s flagship solution is an integrated e-mail and encryption server that can be quickly deployed to fortify the security of corporate communication, including attachments and mobile devices, against data breaches while eliminating phishing threats, malware infections, and spam.

From security consulting to full implementation, Ecrypt specializes in five key markets: healthcare, government and military, law enforcement, legal services, and financial services. In these highly sensitive arenas, Ecrypt removes human vulnerabilities to optimize enterprise security; fortifies against data leaks, device theft and e-mail-borne threats; provides granular role-based access controls for system administrators; and secures communications with third parties, like vendors and clients.

Target’s security breach was only one of countless cyber-attacks fired at global organizations every single day. The FBI in January issued a warning that intrusions into point-of-sale (POS) systems are on the rise, despite heightened action by law enforcement and security firms to mitigate the attacks.

By using Ecrypt’s paradigm-shifting technology, companies alleviate the need for separate encryption servers with their associated bloated administration and multiple points of weakness, demonstrating that the success of cyber-attacks doesn’t necessarily have to rise in proportion to increasing numbers of actual attacks. With adequate security solutions in place, an organization has the power to successfully defend itself from attacks even on a daily basis.

For more information visit www.ecrypt.com

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