Tag: Cybersecurity

Singapore – Technology conglomerate Cisco has named Dave West (left) as its new President, and Irving Tan (right) as Chairman for its Asia Pacific, Japan, and Greater China business.

West will be taking over his predecessor Miyuki Suzuki, as the latter has announced retirement. With more than 20 years of experience with Cisco, Dave’s recent position was the Head of Cisco Japan, where he launched the Japan Country Digitization initiative, built important strategic alliances with key Japanese companies, and drove sustained growth in one of the most strategic markets in the region. 

He has also held key global leadership roles for Cisco, including leading worldwide Enterprise Networking and Security sales and as the chief technological officer for Cisco APJ, where he spearheaded various key initiatives, designed and implemented innovative go-to-market models, and led multi-year digital transformations for customers.

“We are witnessing a major shift in the way businesses operate with technology driving the change. Home to some of the fastest-growing and diverse economies in the world, Asia is leading the charge on this front,” West commented.

He added, “As a global leader in networking, collaboration, and cybersecurity, we are committed to working with our customers and partners to accelerate their digital transformation so they are ready for the future and can fully leverage the growth opportunities that are opening up. I am delighted to be given the opportunity to lead our business in this dynamic region and am looking forward to building on our success.”

Meanwhile, Tan, prior to his new position, was executive vice president and chief of operations for Cisco USA. Tan will partner with West and his leadership team on special projects to drive growth across the region.

“During his 20 years at Cisco, most recently as the head of Japan, Dave has demonstrated a strong understanding of the region, a great talent for recognizing and maximizing market trends and transitions, and the ability to motivate teams and drive growth. He’s the right leader at the right time,” said Gerri Elliott, executive vice president and chief sales and marketing officer at Cisco

Meanwhile, on Tan’s appointment, Elliott commented, “I am delighted that Irving is taking on the role of Chairman for APJC. His experience on the Executive Leadership Team, and as a former leader of APJC, will be invaluable to our efforts to drive sustained growth in the region,”

America-born Cisco develops, manufactures, and sells networking hardware, software, telecommunications equipment, and other high-technology services and products. Its Asia Pacific presence spans11 countries, from Southeast Asia to ANZ.

Kuala Lumpur, Malaysia – Mobile platform developer Forest Interactive has announced a new partnership with French-based cybersecurity firm Evina in detecting and preventing fraudulent traffic, an online threat amplified by the global pandemic.

Said partnership was in response to the significant increase of fraudulent traffic across digital marketing campaigns implemented across Asia and Europe. Prior to the partnership, Forest Interactive had already implemented various digital restrictions such as the prohibition of clickjacking, iFrame, and auto-subscribe, yet non-human traffic was still accumulating.

“While proper restrictions have been rolled out as a guideline for affiliate marketing partners, the rising trend of digitization has intensified fraud attempts and suspicious traffic, which have an impact on the long-term sustainability of our digital campaigns,” said Khedir Yaakub, regional head of marketing & business development at Forest Interactive. 

He also added, “Our collaboration with Evina is proof of our continued commitment to ensure our services are fraud-free, thus improving our customer experience and end-to-end operations. By implementing this solution into our ecosystem, we would be able to recognize authentic sources and also reduce the fraud rate percentage from a tailored dashboard, allowing us to protect our services from being promoted illegally and to more accurately optimize our campaigns.” 

DCBProtech Dashboard
The dashboard of Evina DCBprotect (Courtesy of Evina)

Meanwhile, David Lotfi, CEO of Evina, said: “Through our collaboration with Forest Interactive, a key industry player in the South Asia set on conquering fraud, we are one step closer to eradicating mobile fraud altogether, in the region and worldwide. By integrating our anti-fraud solution, Forest Interactive will witness first-hand the benefits of a drop in its fraud rate like cleaner traffic, reduced complaint rates, and better business. End-users will be protected from fraud and the mobile platform developer can go on doing what it knows best: providing innovative solutions for mobile operators, fraud-free.” 

The newest cybersecurity partnership will utilize Evina DCBprotect and will be implemented to mobile services with high fraud traffic cases, which includes Thailand, Myanmar, Pakistan, Kuwait, Malaysia, Austria, and the United States of America.

As more businesses embrace technology, the need to secure devices, software, and technology platforms grows even broader. With cyber threats becoming more complex and far-reaching, even small and medium enterprises (SMEs) need to invest in cybersecurity platforms to not only protect their businesses but also ensure the safety of their customers and employees. 

That’s why Saphron, an insurance technology (Insurtech) startup on a mission to make insurance radically accessible, rolled out its newest offering called Cyber Insurance and Breach Response for SMEs, or CYBRIS for short. CYBRIS is a cybersecurity insurance policy that protects a business from financial losses arising from a data breach or a cyber attack. 

Lorenzo Chan Jr., CEO of Saphron

“In this day and age, it’s almost impossible to say that you’re in business but you don’t utilize technology. No matter what sort of business you’re in, it’s very unlikely that you will not come across data or information about the client. And there is an insurance policy [to protect] that.”

Lorenzo Chan Jr., CEO of Saphron

The importance of cybersecurity in the new normal 

Products like CYBRIS have become increasingly relevant in the new normal, as digitization has become a necessity for many industries. A business that is handling any form of data in a digital platform, whether it’s a cloud database or social media, is susceptible to some 

form of cyber attack or data breach, so it’s important that businesses insure themselves should they become the next target. 

The product’s focus on SMEs is crucial, as small business owners are the most vulnerable to cyber threats. A 2018 study by GoDaddy revealed that 50% of small businesses in the Philippines experienced financial losses due to hacking, one of the most common types of cyber attacks. Research from CyberScout, a multinational provider of cybersecurity solutions, shows that even small businesses that only have one or two servers for their digital operations can lose anywhere from Php250,000 to Php750,000 from a data breach. 

Andrew Hong, Regional Director for Asia-Pacific at CyberScout

“SMEs are not comparable to conglomerates or enterprises, because they don’t have the budget or expenses for high-tech [cybersecurity solutions]. When [cyber threats] hit them, they will hit them very deep.” 

Andrew Hong, Regional Director for Asia-Pacific at CyberScout

CYBRIS: Your trusted ally in protecting your business 

With these threats in mind, CYBRIS ensures SME owners that their businesses will be protected financially from the aftermath of a cyber attack. A business covered by CYBRIS will receive financial compensation to cover the various liabilities arising from a data breach as well as help them take the first steps to recovery. 

As it was made for SMEs, CYBRIS offers its policies for as low as Php7,500 to Php14,500 a year—around the same amount as, or even lower than, car insurance. In turn, the policy will cover up to Php2.5 million worth of financial losses arising from a data breach, which includes privacy breach liabilities, security breach liabilities, regulatory penalties, and payment card industry fines. CYBRIS also provides support for processing ransomware attacks, which according to CyberScout can cost around Php50,000 to Php150,000. 

On top of this financial coverage, a CYBRIS policy also comes with 24/7 rapid breach response service from CyberScout, which has a wide network of industry and legal experts who are able to guide businesses when it comes to data breach incidents. CyberScout also helps entrepreneurs navigate through uncertainties in their digital operations and ensure that they are following the best practices in cybersecurity. 

One of CyberScout’s clients is a mid-sized aviation company operating in 60 countries, which suffered from a password attack in 2019 that led to fraudulent emails being sent to the company’s clients. Once the company reported the attack, CyberScout shipped a proprietary blackbox that allowed the client to conduct a forensic investigation of the compromised units. Through this investigation, CyberScout was not only able to advise the company on how to inform their clients and recover from the attack, but it was also able to identify other vulnerabilities within the company’s systems that could be exploited by cyber criminals. 

“We help SMEs facilitate the entire [breach response] process,” said Hong. “We advise you step-by-step on how to deal with a cyber attack. We even have a consultative panel of lawyers and industry experts to help.” 

Secure your business for the digital economy 

For Atty. Leandro Aguirre, Deputy Privacy Commissioner at the National Privacy Commission (NPC), products like CYBRIS have a two-fold benefit. Not only does CYBRIS enable SME owners to grow in the digital economy, it also makes them view the threat of cyber attacks more seriously. 

“[CYBRIS] is something that hopefully will help SMEs who may not have the necessary resources or who may not even prioritize cybersecurity or data privacy,” said Aguirre. “Something like this will put it forward, make them think about it more, and it will help them take the necessary steps to comply with the regulations of the NPC. I look at this as some kind of multiplier effect with what we’re trying to do with the Commission. It makes them more aware of what they need to comply, and that also helps us.” 

Through CYBRIS, SMEs can protect themselves from the financial repercussions of a cyber attack without having to shell out a lot of time, effort, and investment. With its affordable rates, comprehensive coverage, and accessibility, CYBRIS is every SME’s trusted ally in cybersecurity. 

“This particular product is earmarked for SMEs. People normally think cybersecurity is not affordable, that you’ll need big comprehensive teams to maintain it. SMEs don’t have the time nor the resources for those right away, and sometimes they’re not even aware of it. [Offering] this product that is simple, affordable, and available online is going to be quite useful,” concluded Chan.