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Nymi, Inc. announces a technology partnership with ELATEC, a provider of RFID readers and NFC/BLE mobile device readers. The partnership enables users of Nymi’s Workplace Wearables™ to seamlessly open doors and authenticate to systems, devices and machines that utilise ELATEC’s readers. The Nymi Band™ is the world’s only workplace wearable wristband that, once authenticated, offers the convenience of continuously authenticating the identity of the user until it is removed from the wrist. Seeking touchless authentication This delivers zero-trust security principles and access control using convenient fingerprint and heartbeat biometrics to users seeking touchless authentication. With their flexible architecture, customisable open API and remote programmability, ELATEC RFID readers are ubiquitous in Europe and increasingly utilised in organisational ecosystem applications in North America, from vending and dispensing to secure printing, and from computer single sign-on to door access. ELATEC reader compatibility will facilitate penetration of these and other industries and global regions" “This partnership with ELATEC provides important market reach and compatibility for our Workplace Wearables,” said Andrew Foxcroft, Vice President of Nymi. “The Nymi Band is being rapidly adopted in industries like pharma and medical device manufacturing with an emphasis on privacy, security, and a natural user experience. ELATEC reader compatibility will facilitate penetration of these and other industries and global regions.” Positive user experience The Nymi Band enables organisations to incorporate Nymi's passwordless technology with applications that ensure the health, safety, and security of connected workers, enabling a range of use cases that includes COVID-19 social distancing and contact tracing, among others. “We’re delighted to be working with Nymi in providing a frictionless and hands-free authentication, authorisation, and access control solution for our customers across numerous industries,” said Paul Massey, CEO of ELATEC Inc. “Wearable technology enables a very positive user experience and exciting new applications for our reader solutions.”
Radware, a provider of cyber security and application delivery solutions, has released its 2017-2018 Global Application and Network Security Report, which found that the percentage of companies reporting financially motivated cyber-attacks has doubled over the past two years, with 50% of surveyed companies experiencing a cyber-attack motivated by ransom in the past year. As the value of bitcoin and other cryptocurrencies —often the preferred form of payment among hackers—has appreciated, ransom attacks provide an opportunity for hackers to cash out for lucrative gains months later. “The rapid adoption of cryptocurrencies and their subsequent rise in price has presented hackers with a clear upside that goes beyond cryptocurrencies’ anonymity,” Andrew Foxcroft, regional director for Radware UK, Ireland and Nordics. “Paying a hacker in these situations not only incentivises further attacks, but it provides criminals with the vital funds they need to continue their operations.” Organisational security against hacking The number of companies that reported ransom attacks in which hackers use malware to encrypt data, systems, and networks until a ransom is paid surged in the past year, increasing 40% from the 2016 survey. Companies don’t expect this threat to go away in 2018 either. One in four executives (26%) see ransom as the largest threat to their business sector in the coming year.Respondents noted that data leakage was their top business concern, followed by reputation loss and service outages “Criminals used various exploits and hacks this year to encrypt vital systems, steal intellectual property, and shut down business operations, all with ransom demands attached to these actions,” Foxcroft said. “Between service disruptions, outages, or intellectual property theft, hackers are leaving businesses reeling, searching for solutions after a hack occurs. As hackers and their methods become increasingly automated, it is now more important than ever for organisations to be proactive in protecting their business.” IoT security responsibility Other key findings of the report include: Businesses are most concerned with their data when hit with a cyber-attack. Respondents noted that data leakage was their top business concern, followed by reputation loss and service outages. Yet with five months to go until GDPR comes into force, only 28% say their organisation is very or well prepared for GDPR, and another third feel somewhat prepared. Not surprising, those in Europe are more likely to say they are very well or well prepared compared to those in North America (35% vs. 25%), while one in four in North America are completely unfamiliar with GDPR. Despite one in four (24%) businesses reporting cyber-attacks daily or weekly, nearly 80% of surveyed organisations have not come up with a calculation for the cost of attacks, and one in three lack a cybersecurity emergency response plan. Respondents are not quite sure who is responsible for Internet of things (IoT) When asked who needs to take responsibility for IoT security, there was no clear consensus among security executives. Responses pinned responsibility on the organisation managing the network through to the manufacturer (34%), but the majority said consumers using these devices (56%). Radware’s Global Application and Network Security Report, now in its seventh year, is a cross-industry report compiled by Radware’s Emergency Response Team (ERT), leveraging vendor-neutral survey data from 605 IT executives spanning several industries around the globe, Radware’s hands-on experience handling today’s leading threats, as well as third-party service provider commentary. The complete Global Application & Network Security Report 2017-2018 details 2017’s major attack trends and provides predictions and recommendations from Radware’s ERT for how organisations can best prepare for mitigating cyber threats in 2018.