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Posts Tagged ‘risk management’

Dramatic changes ahead for cyber security in 2012

Friday, December 30th, 2011

AgilianceWith high profile security breaches in the news throughout 2011, security firm Agiliance sees dramatic changes ahead for the security industry in 2012. It’s list of predictions for the coming year in security focus on mobile, cloud computing, legislation, and social media.

These predictions are based on the company’s engagement with Global 2000 companies, government agencies, fellow security vendors, industry analysts and security consultants, as well as market research it conducts on a regular basis.

Topping the list is Agiliance’s prediction that organizations will recognize that risk is security’s new compliance.

A risk-based approach and holistic view of the organization’s IT infrastructure will be driven by further consumerization of IT, challenges related to social media as an instrument in cyber warfare, stricter enforcement and new legislation focused on data protection, threat information sharing, and incident disclosure, as well as the emerging need to assess cloud service providers’ ability to enforce security policies and continuously maintain an adequate compliance posture.

“For many years, complying with government standards and industry regulations has been seen as a check box in the lengthy list of IT security tasks,” said Torsten George, vice president of worldwide marketing at Agiliance.

“In 2012, we will see progressive organizations applying a risk-based, continuous approach to security. By doing so, they will be able to make risk visible, measurable, and actionable.”

Specifically, Agiliance expects dramatic changes in the following areas:

Mobile Devices and Social Media
New products and services will emerge that deal with the necessary delineation of employer-owned versus employee-owned data on mobile devices.

These products will go beyond anti-virus and malware software to deal with embedded strong authentication, secure mobile operating systems scanners, mobile operating system vulnerability scanning, and data segregation / encryption. For social media threats, existing security tools’ capabilities will be extended to cover monitoring of social media networks to tackle the emergency of social media cyber warfare.

Cloud Computing Security
Agiliance predicts an acceleration of efforts to create standards around cloud security, primarily driven by the data consolidation efforts of the U.S. government as well as wide-ranging support of the Cloud Security Alliance. Independent, continuous monitoring of cloud service providers’ security controls will become a standard part of service level agreements.

Legislative Initiatives
Agiliance predicts that, in the second half of 2012, a government mandate will be passed that will lead to a pro-active Information Security Risk Management system and related best practices to tackle cyber security threats.

Similar to stricter enforcement policies of the HiTech Act by the HHS, regulations penalty cases will surge in 2012. Furthermore, privacy audit is becoming a major driver behind security tool investments as organizations are coming up short on audits relating to data breaches, disclosure notifications, data handling, attribution, and incident closure.

Anti-Cyber Crime Collaboration
Sharing of sensitive threat information will become essential to prevent widespread cyber attacks across different verticals and industries. Nowadays, cyber criminals are coordinating their efforts and are well-versed in sharing vulnerabilities and attack methodologies. They even have their own online communities where they exchange information.

This is unmatched by the commercial sector and government agencies. As a result, Agiliance predicts that the increase in cyber security attacks and data breaches will lead to the introduction of a formal information sharing database that will be made accessible to a broader group.

Risk is Security’s New Compliance
With more than 365 security incidents reported this year to date, affecting over 126 million records, cyber security attacks have become a mainstream event in the industry.

Based on these changes, Agiliance predicts further increase in demand for software tools that are able to aggregate data from existing security tools and information management applications to make risk visible, measurable, and actionable.

These tools will not only provide advanced reporting capabilities, but interconnectivity to ensure that remediation actions can be triggered and followed through easily. To better describe the capabilities of these tools, analysts will create a new software category called Security Risk Management.

For the in-depth predictions, data, and accompanying graphics, please see Agiliance’s 2012 IT Security Predictions:http://www.agiliance.com/forms/WhitePaperReg.html?doc=Security_Predictions.

Tampa-based Pilgrim Software lands investment from Riverside Partners

Thursday, February 24th, 2011

Pilgrim SoftwareTAMPA, FL – Pilgrim Software Inc., a provider of enterprise software focused on compliance, quality, and risk management has received an investment in an undisclosed amount from Boston’s Riverside Partners. Pilgrim’s software helps companies in regulated industries – particularly within the life sciences and healthcare industries – manage an increasingly complex regulatory and compliance environment. Riverside’s investment was completed in partnership with the Pilgrim management team and founders of the business.

Pilgrim offers a fully integrated suite of enterprise software to hundreds of blue-chip customers in the life science, food and beverage, and manufacturing industries. Pilgrim boasts industry-leading customer satisfaction and retention rates and has received numerous awards for its offering, including Frost & Sullivan’s Enterprise Compliance & Quality Mgmt Company of the Year for three years in a row.

The company offers its customers both a perpetual license and a subscription-based (hosted) model.

“Pilgrim has built a software platform that helps customers improve overall governance, compliance, and quality; increase productivity; lower costs; and reduce risk. Pilgrim’s products suite is particularly relevant in this era of increased scrutiny by the FDA and other regulatory bodies,” said Philip Borden, a General Partner at Riverside Partners.

“Pilgrim Software removes the need for paper-intensive compliance and quality processes, and enables companies to streamline their operations. Pilgrim addresses a critical need in today’s highly regulated environment and we look forward to partnering with the Company to help it continue on its strong growth trajectory.”

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Altegrity gobbling up Kroll for $1.13 billion

Monday, June 7th, 2010

AltegrityFALLS CHURCH, VA – In the latest in a series of recent acquisitions, Altegrity, a screening and security solutions company, has acquired risk management firm Kroll Inc. in an all-cash deal valued at $1.13 billion.

In February, Altegrity acquired DC based Corporate Risk International.

In November, it acquired John D. Cohen Inc., a contract provider of national security policy guidance and counsel to the federal government.

Following the completion of the transaction, Altegrity companies will have approximately 11,000 employees across 30 countries providing information and insight to business leaders making decisions about employment, litigation, investment, security, risk and regulatory compliance matters.

Altegrity acquires DC-based Corporate Risk International

Monday, February 1st, 2010

WASHINGTON, DC – Altergrity Risk International Inc. has acquired DC-based Corporate Risk International, a business intelligence and risk management firm.

Among other services, CRI handles cases involving kidnapping, illegal detention, and extortion. Since 1993, CRI has successfully responded to more than 500 such crises in every major country around the globe.

Terms of the deal were not disclosed.

Founded in 1991, CRI specializes in U.S. and international due diligence and investigative projects, white collar crime investigations, business intelligence gathering, undercover investigative operations, and anti-money laundering analyses. The company also conducts security and risk assessment surveys and provides crisis management and executive protection services.

New York-based Altegrity Risk International provides high quality due diligence, investigative, analytic, consulting, intelligence, and security solutions to multinational corporations and other organizations around the world.