- A well-known ransomware group of hackers recently infiltrated one of the UK’s largest business process outsourcing and professional services companies, exfiltrating clients’ personal data and offering it for sale
- Preventing such attacks is the aim of cybersecurity solutions provider SideChannel Inc., whose flagship offering includes outsourcing virtual chief information security officers that can provide clients with advisement on a contract basis
- The company’s managed services under its SideChannel Complete package hinge on the technological prowess of its Enclave microsegmentation tool, which helps limit system users to network areas they’re authorized to use
- SideChannel intends to continue expanding its Enclave-centric managed services in the coming months to provide clients with a growing array of powerful solutions
Cybercrime constitutes one of the few categories of moral harm in which the victim is routinely shamed or blamed for the destructive actions of others, leading to a sense of embarrassment in reporting such incidents, as was perhaps exemplified in the recent ransomware attack on business process outsourcing and professional services company Capita.
Capita is one of the largest companies of its kind in the United Kingdom, and its services are used by the country’s government. When it suffered a data breach last month that apparently prevented access to some of its internal applications and led to the shopping of clients’ personal and financial information, Capita initially avoided revealing that it had suffered a cyberattack and that any client data had been compromised, according to a SecurityWeek report on the incident (https://ibn.fm/AnqWM).
Massachusetts-based cybersecurity services and technology provider SideChannel (OTCQB: SDCH) is driven to help companies defend themselves against cyberattacks, emphasizing the importance of always keeping security systems current and comprehensive to avoid falling victim to similar incidents and having to deal with the expense of trying to recover from such breaches as well as the reputational loss.
In the Capita case, the hackers were apparently hoping to find a buyer for the data rather than demanding that the victim pay a ransom, but in many such incidents the companies’ operating systems are essentially held hostage unless they pay off the hackers in amounts that may reach into the millions of dollars.
“We see Fortune 500s having easy access to large (cybersecurity) providers but, really, the middle market is over a million companies, and who’s working with them?” SideChannel CEO Brian Haugli said during a company webcast on SideChannel’s portfolio (https://ibn.fm/bIqSA). “The same risks exist at (larger) enterprises that exist at mid-market and vice versa.”
SideChannel specializes in outsourcing virtual chief information security officers (“vCISOs”) on a contract basis to companies that need help with cybersecurity but are unable to hire a full-time CISO.
The rollout of the company’s SideChannel Complete managed service program served as a “turnkey” event that allows SideChannel to “have an entire program of technology, processes, and even people” that empowers clients while “they don’t have to look at hiring full-time staff that could be costly or going through a talent-acquisition pipeline,” Haugli told Proactive Investors in an interview last month (https://ibn.fm/DOtaP).
“We are very excited about how the uptake has really taken off this last year,” Haugli said, adding that the company is anticipating adding further managed services capabilities during the coming months.
At the heart of SideChannel’s Complete managed service offering is a microsegmentation tool called Enclave that provides the company’s solution for network segmentation, which ensures that only authorized personnel have access to specific systems they’re authorized to use without lateral movement across the network as part of a “zero-trust” approach to cybersecurity.
Enclave is also available to clients to use on their own as a software-as-a-service (“SaaS”) tool on a subscription basis if they prefer to rely on their own governance.
For more information, visit the company’s website at www.SideChannel.com.
NOTE TO INVESTORS: The latest news and updates relating to SDCH are available in the company’s newsroom at https://ibn.fm/SDCH
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