1 Billion Records Stolen in 2024: How Cutting-Edge Tech Is Fighting Back Against Cybercrime

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Oct 23, 2024, 09:30 ET

Issued on behalf of Scope Technologies Corp.
USA News Group News Commentary

VANCOUVER, BC, Oct. 23, 2024 /PRNewswire/ -- In 2024, more than 1 billion records have already been stolen, according to a report from TechCrunch, with this number continuing to climb. Earlier this year, the International Monetary Fund (IMF) raised concerns over the growing threat of cyberattacks, warning that these rising risks could undermine financial stability. The latest IBM 2024 Data Breach Report also highlighted the impact of the cybersecurity skills gap, which contributed to an increase of $1.76 million in average breach costs. Meanwhile, the National Institute of Standards and Technology (NIST) introduced its first set of post-quantum cryptography (PQC) standards to combat the escalating cyber risks as malicious actors gain more advanced tools. To address these challenges, several technology developers are advancing AI-driven and quantum-resistant security solutions to protect data both now and in the future, with recent breakthroughs from key players, including: Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), International Business Machines Corporation (IBM) (NYSE: IBM), Palo Alto Networks, Inc. (NASDAQ: PANW), Okta, Inc. (NASDAQ: OKTA), and Zscaler, Inc. (NASDAQ: ZS).

The article continued: Analysts from MarketsandMarkets estimate that the Global Cybersecurity Market will expand from US$190.4 billion in 2023 to US$298.5 billion by 2028, growing at a 9.4% compound annual growth rate (CAGR). In comparison, Visiongain Reports forecast even more rapid growth for the Quantum Cryptography market, with a projected 29.3% CAGR extending through 2034, reflecting the increasing demand for advanced cryptographic solutions in the face of evolving cyber threats.

Scope Technologies Launches Subscription Model for Round-Trip Encrypted, Quantum-Resilient Cloud Storage for Individuals and Small Businesses

Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), a pioneering technology company specializing in quantum security and machine learning (ML), today announced the official launch of its subscription model, now offering individuals and small businesses full access to its industry-leading round-trip encrypted and quantum-resilient decentralized cloud storage solutions.

This launch further demonstrates Scope Technologies' dedication to delivering next-generation data security. Through the QSE (Quantum Security Entropy) platform, individuals and small businesses now have access to the same advanced encryption and decentralized storage solutions that Scope provides to mid-sized and enterprise clients, ensuring their data is protected against both current and future cyber threats.

"Data protection should not be a luxury," said Sean Prescott, Founder and CTO of Scope Technologies. "With this launch, we're making the same round-trip, quantum-resistant encryption and decentralized storage vaults available to individuals and small businesses that we already provide to mid-sized and enterprise corporations. Now everyone can protect their data from today's risks and the future challenges posed by quantum computing."

Scope Technologies has completed updates to its platform and now offers its advanced Quantum Security Entropy (QSE) cloud storage services to individuals and small businesses. These services utilize quantum-proof encryption, employing quantum entropy to generate unbreakable encryption keys that protect data even against future quantum computing threats. The decentralized, immutable storage infrastructure further safeguards data from ransomware, over-encryption, and tampering, providing a significant upgrade over traditional cloud backups.

The platform also supports seamless integration through user-friendly APIs, enabling quick setup and adaptability as business needs evolve. With flexible pricing plans, individuals and small businesses can now access enterprise-grade security, making robust data protection scalable and affordable.

Additionally, the subscription model offers options for enhanced security services, such as increased entropy calls for stronger encryption. Users can easily scale their storage capacity as their demands grow, while maintaining the highest level of data security available.

CONTINUED… Read this and more news for Scope AI at: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/

In other industry developments and happenings in the market this week include:

International Business Machines Corporation (IBM) (NYSE: IBM), a leading provider of global hybrid cloud and AI, and consulting expertise, recently announced the launch of its IBM Guardium Data Security Center, providing unified, SaaS-first data security capabilities amid the transformation being witnessed as hybrid cloud-, AI-, and quantum-related risks upend the traditional data security paradigm. The newly launched IBM Guardium Data Security Center allows organizations to protect data in any environment, throughout its full lifecycle, and with unified controls.

"Generative AI and quantum computing provide immense opportunities, but they also bring new risks," says Akiba Saeedi, Vice President, IBM Security Product Management. "During this transformative time, organizations need to improve their crypto-agility and carefully monitor their AI models, training data, and usage. IBM Guardium Data Security Center – with its AI Security, Quantum Safe, and other integrated capabilities – provides comprehensive risk visibility."

IBM Guardium Data Security Center also features IBM Guardium Quantum Safe, software that helps clients to protect encrypted data from the potential risk of future cyberattacks driven by bad actors who gain access to cryptographically relevant quantum computers. IBM Guardium Quantum Safe builds upon expertise from IBM Research – including IBM's post-quantum cryptography algorithms – and IBM Consulting.

Palo Alto Networks, Inc. (NASDAQ: PANW), a global cybersecurity leader, recently announced the launch of new capabilities in its OT Security solution, including the industry's only fully integrated, risk-based guided virtual patching solution, powered by Precision AI™, the Prisma® Access Browser with Privileged Remote Access and a suite of ruggedized, ML-powered Next-Generation Firewalls (NGFWs) built to withstand harsh industrial settings where traditional firewalls often cannot operate.

"The rise in the frequency and sophistication of OT attacks, often driven by AI, highlights the urgent need for robust, OT-specific security measures," said Anand Oswal, SVP and GM, Network Security, Palo Alto Networks. "Organizations must implement comprehensive solutions that ensure real-time visibility, end-to-end protection and simplified security management. Palo Alto Networks OT Security solution, powered by Precision AI, secures both OT and converged IT/OT in a consistent way to combat these challenges and protect critical infrastructure."

Okta, Inc. (NASDAQ: OKTA) and Zscaler, Inc. (NASDAQ: ZS) recently announced four new integrations designed to accelerate their mutual customers' zero trust transformation, and to improve security posturing and defenses against identity-based threats. By delivering end-to-end, context-aware security, Okta and Zscaler are helping customers reduce risk, improve the user experience, and enable cross-domain response through shared telemetry and threat intelligence.

"The integrations announced today significantly deepen our collaboration with Okta and our commitment to keeping our customers secure," said Amit Raikar, Vice President, Technology Alliances and Business Development, Zscaler. "Together, we are focused on helping customers strengthen their zero trust security posture in an increasingly complex risk environment, where rigorously managing user identities and enforcing adaptive access controls is more crucial than ever."

To address challenges in securing remote users, cloud applications, and hybrid IT environments, Zscaler and Okta have developed deep integrations that enhance secure access while minimizing disruptions for users. Their latest collaboration includes adaptive access policies that dynamically adjust based on user risk context, such as password expiration or credential compromise. They also offer step-up authentication for high-risk situations, requiring stronger authentication methods when suspicious behavior is detected. Additionally, Zscaler and Okta provide contextualized security insights by aggregating data from multiple sources, enabling real-time vulnerability management. Finally, their Zero Trust approach offers agentless access to web applications for external users, while streamlining identity and access management for IT administrators through Okta's Universal Directory.

"In the AI era, the only way to effectively protect customers is by rallying the security ecosystem," said Stephen Lee, vice president of Technical Strategy and Partnerships at Okta. "Point security solutions address individual areas but don't integrate with one another, which increases complexity. That's why Okta and Zscaler have invested in deep integrations that accelerate the zero trust journey and elevate the security posture of our mutual customers worldwide."

Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/

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