Chinese-based hackers have recently gained unauthorized access to the email accounts of approximately 25 organizations, including multiple government agencies, according to Microsoft.
The breach was initially discovered in mid-June by an unnamed agency within the Federal Civilian Executive Branch (FCEB), as announced by the Cybersecurity and Infrastructure Security Agency, the primary federal cybersecurity watchdog.
While Microsoft did not disclose the specific countries or agencies impacted, it revealed that the hacking group primarily targets Western governments for the purpose of espionage. Microsoft collaborated with the federal Cybersecurity and Infrastructure Security Agency to expel the hackers, indicating that U.S. organizations were among the victims.
Senator Mark Warner, who heads the Senate Intelligence Committee, expressed close monitoring of what appears to be a significant cybersecurity breach by Chinese intelligence. He emphasized the need for close coordination between the U.S. government and the private sector in countering this evolving threat, noting the continuous enhancement of China’s cyber collection capabilities against the United States and its allies.
Microsoft’s report stated that the hacks began on May 15 and remained undetected until June 16. The perpetrators primarily focused on gaining access to email accounts, although Microsoft confirmed that they no longer have such access. The report did not explicitly attribute the hacker group to the Chinese government.
Unlike hackers associated with Russia or Iran, Chinese hackers are less inclined to disrupt their targets, instead gaining prominence as some of the world’s most proficient cyberspies.
Fortunately, there are advanced cybersecurity companies like CyberCatch Holdings, Inc. (TSXV:CYBE) that can help businesses safeguard against hackers.
A Highly Effective AI-Enabled Cybersecurity Solution
CyberCatch delivers an AI-enabled continuous cybersecurity compliance and risk mitigation solution to the most vulnerable, allowing them to remain safe from cyber threats while continuing to grow and prosper without causing harm to consumers or the economy.
CyberCatch provides a unique AI-enabled Software-as-a-Service (SaaS) solution to enable full compliance and mitigate cyber risk for businesses of all sizes within just two weeks; instead of industry-average three months or longer. The company’s unique, patented technology is designed to assist organizations in implementing all mandated and necessary controls, detecting control failures quickly, and facilitating their resolution, enabling continuous compliance and cyber risk mitigation.
On July 12, CyberCatch and Proficio announced a strategic partnership to market and deliver a unique combined AI-enabled solution for organizations globally. Proficio, founded in 2010 (13 years ago), is a leading provider of managed detection response (MDR), with security operations centers in San Diego, Barcelona, and Singapore. Proficio has hundreds of customers in defense, healthcare, financial services, insurance, utilities, legal services, cities and municipalities, and other important industries around the world.
The partnership enables CyberCatch to expand globally in a cost-effective and timely manner through the Proficio sales distribution channel.
Proficio chose CyberCatch as a strategic partner because all of their customers need CyberCatch‘s AI-powered continuous cybersecurity compliance solution for a combined end-to-end cyber risk mitigation solution. The company recognized CyberCatch‘s distinct solution and compelling value proposition in the market.
Proficio’s MDR services provide 24×7 protection, allowing enterprises to proactively identify and respond to possible threats in real time. Proficio’s solution provides unique visibility into network operations using a combination of cutting-edge technology and advanced analytics, enabling enterprises to detect and mitigate threats before they do substantial damage.
The integrated CyberCatch and Proficio solution enables enterprises globally to accomplish ongoing compliance while protecting themselves from ubiquitous cyber threats.
Both companies will promote the combined offering to their respective clients and prospective customers as part of the partnership, and will differentiate in the cybersecurity marketplace globally with the end-to-end continuous compliance and cyber risk mitigation solution.
The partnership is expected to result in significant sales growth for both CyberCatch and Proficio from cross-selling to existing customers as well as attracting new customers to their compelling combined solution.
Click here for more information about CyberCatch Holdings, Inc. (TSXV:CYBE).
Featured Image @ FreePik
Disclaimer
1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding CyberCatch Holdings Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to CyberCatch Holdings Inc.’s industry; (b) market opportunity; (c) CyberCatch Holdings Inc.’s business plans and strategies; (d) services that CyberCatch Holdings Inc. intends to offer; (e) CyberCatch Holdings Inc.’s milestone projections and targets; (f) CyberCatch Holdings Inc.’s expectations regarding receipt of approval for regulatory applications; (g) CyberCatch Holdings Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) CyberCatch Holdings Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute CyberCatch Holdings Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) CyberCatch Holdings Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) CyberCatch Holdings Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) CyberCatch Holdings Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of CyberCatch Holdings Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) CyberCatch Holdings Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact CyberCatch Holdings Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing CyberCatch Holdings Inc.’s business operations (e) CyberCatch Holdings Inc. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, CyberCatch Holdings Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does CyberCatch Holdings Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither CyberCatch Holdings Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of CyberCatch Holdings Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of CyberCatch Holdings Inc. or such entities and are not necessarily indicative of future performance of CyberCatch Holdings Inc. or such entities.
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