Verdict UK – JPM Coin: JP Morgan cryptocurrency blasted as against the “freedom and spirit” of crypto

verdict-logoThe JPM coin, the newly announced JP Morgan cryptocurrency, is being seen as a key step in the adoption of the technology in the mainstream banking industry, however for some in the industry it is a cause for deep concern.

Announced yesterday, the JP Morgan cryptocurrency will begin being used this year, but only for internal applications. Pegged 1:1 to the US dollar, the JPM Coin will be used by the banking giant to provide dramatically faster transfers between accounts than with traditional methods.

“With JPM Coin hopefully the tables are turning for digital currencies and we can really start to see the benefits that blockchain technology can bring to the financial world,” said Jason Hart, CTO of data protection at digital security company Gemalto.

“By focusing on a set use case, JP Morgan can control the currency and work closely with regulators to ensure that it fully meets their requirements, before taking it mainstream.”

To read the full article click here.

Forbes – Seven Ways To Decide Whether Your Company Should Adopt New Tech

forbes-tech-councilWith all the latest developments in technology, it may seem like new advancements in tech are launching every day, and the last company to adopt could end up behind. However, that’s far from the truth.

Not every new tech is designed to suit your company’s needs. In fact, some new tech developments may actually waste your company’s money and time, without much gain to be had at all.

So, how can you tell if a new tech feature, app or other development is the right fit for your company? How can you decide if it will be a boon or a bust? To help you gain some industry insight regarding this question, seven members of Forbes Technology Council share their advice on adopting new tech. Here’s what they said:

7. See If It Aligns With Needs And Objectives

The most crucial aspects when deciding whether to invest in new technology for an organization are does it align with the needs and objectives of the business and the user? Too often we see businesses trying to shoehorn the latest buzzword piece of technology because that’s what’s claimed to be the next big thing. Technology should help elevate a company to the next level, not knock it off course. – Jason Hart, Gemalto

To read the full article click here.

Information Age – Top security risks in digital transformation – and how to overcome them

informationagenewTechnology such as cloud, internet of things (IoT) and automation are helping companies to digitally transform, but they also add security risks. What can firms do? And what are the top security risks in digital transformation?

Overall, firms undergoing digital transformation need to look at security in a different way, says Jason Hart, CTO of data protection at Gemalto. “You need to understand what your risks are. People might do penetration testing but for me that doesn’t equate to strong visibility and control around governance and security.”

Hart advises companies as part of the transformation process to ensure data visibility in order to categorise it and control who has access. In addition, says Hart: “Let’s eradicate static passwords and replace with multi-factor authentication.”

To read the full article click here.

Global Banking & Finance Review – Almost half of companies still can’t detect IoT device breaches, reveals Gemalto study

gbaflogoGemalto, the world leader in digital security, can today reveal that only around half (48%) of businesses can detect if any of their IoT devices suffers a breach. This comes despite companies having an increased focus on IoT security:

  • Spending on protection has grown (from 11% of IoT budget in 2017 to 13% now);
  • Nearly all (90%) believing it is a big consideration for customers; and
  • Almost three times as many now see IoT security as an ethical responsibility (14%), compared to a year ago (4%)

“Given the increase in the number of IoT-enabled devices, it’s extremely worrying to see that businesses still can’t detect if they have been breached,” said Jason Hart, CTO, Data Protection at Gemalto. “With no consistent regulation guiding the industry, it’s no surprise the threats – and, in turn, vulnerability of businesses – are increasing. This will only continue unless governments step in now to help industry avoid losing control.”

To read the full article click here.

UKTN – Companies still can’t detect IoT device breaches

uktnDigital security expert Gemalto has revealed its latest research shows that only around half (48%) of businesses can detect if any of their Internet of Things (IoT) devices suffers a breach.

This is despite the UK Government introducing the IoT security code of practice for manufacturers and developers last year.

Jason Hart, CTO of data protection at Gemalto, said: “The push for digital transformation by organisations has a lot to answer for when it comes to security and bad practices. At times it feels organisations are trying to run before they can walk, implementing technology without really understanding what impact it could have on their security.

“With IoT devices continuing to immerse themselves deep within organisations’ networks, it’s frightening to see that so many UK businesses don’t know if and when these devices have been breached.

“Although the UK’s new Code of Practice is a great first step toward securing the IoT, it won’t truly be effective until these are made mandatory and all organisations are forced to adhere to them. Only once every device, new and old, is given these same standards will the UK see a decrease in successful attacks.”

CloudPro – Less than half of businesses can detect IoT data breach

cloudproFirms are now calling for the government to provide better regulations around IoT security

Only 48% of businesses have the infrastructure set up to detect whether their IoT infrastructure is open to a data breach, a report by security firm Gemalto has revealed.

“Given the increase in the number of IoT-enabled devices, it’s extremely worrying to see that businesses still can’t detect if they have been breached,” said Jason Hart, CTO of data protection at Gemalto.

“With no consistent regulation guiding the industry, it’s no surprise the threats – and, in turn, vulnerability of businesses – are increasing. This will only continue unless governments step in now to help industry avoid losing control.”

“Businesses are clearly feeling the pressure of protecting the growing amount of data they collect and store,” Hart continued.

“But while it’s positive they are attempting to address that by investing in more security, such as blockchain, they need direct guidance to ensure they’re not leaving themselves exposed. In order to get this, businesses need to be putting more pressure on the government to act, as it is them that will be hit if they suffer a breach.”

To read the full article click here.

HelpNet Security – Companies still struggle to detect IoT device breaches

helpnethelpOnly 48% of businesses can detect if any of their IoT devices suffers a breach, according to Gemalto.

This comes despite companies having an increased focus on IoT security:

  • Spending on protection has grown (from 11% of IoT budget in 2017 to 13% now)
  • Nearly all (90%) believing it is a big consideration for customers
  • Almost three times as many now see IoT security as an ethical responsibility (14%), compared to a year ago (4%)

With the number of connected devices set to top 20 billion by 2023, businesses must act quickly to ensure their IoT breach detection is as effective as possible.

“Given the increase in the number of IoT-enabled devices, it’s extremely worrying to see that businesses still can’t detect if they have been breached,” said Jason Hart, CTO, Data Protection at Gemalto. “With no consistent regulation guiding the industry, it’s no surprise the threats – and, in turn, vulnerability of businesses – are increasing. This will only continue unless governments step in now to help industry avoid losing control.”

To read the full article click here.

Information Age – More regulation, more solutions needed: IoT device breaches continue to put user data at risk

informationagenewAlmost half of companies still can’t detect IoT device breaches, according to a Gemalto study. But, use of blockchain technology might provide a solution IoT device breaches continue to frustrate companies and put user data at risk image
‘With IoT devices continuing to immerse themselves deep within organisations’ networks, it’s frightening to see that so many UK businesses don’t know if and when these devices have been breached.’
The Internet of Things (IoT) is beginning to creep into most aspects of consumer and business life; whether you’re talking about a smart home or smart office.

Jason Hart, CTO of data protection at Gemalto, commented: “The push for digital transformation by organisations has a lot to answer for when it comes to security and bad practices. At times it feels organisations are trying to run before they can walk, implementing technology without really understanding what impact it could have on their security.

“With IoT devices continuing to immerse themselves deep within organisations’ networks, it’s frightening to see that so many UK businesses don’t know if and when these devices have been breached. Although the UK’s new Code of Practice is a great first step toward securing the IoT, it’s won’t truly be effective until these are made mandatory and all organisations are forced to adhere to them. Only once every device, new and old, is given these same standards will the UK see a decrease in successful attacks.”

To read the full article click here.

Financial IT – Almost half of companies still can’t detect IoT device breaches, reveals Gemalto study

financial-itGemalto, the world leader in digital security, can today reveal that only around half (48%) of businesses can detect if any of their IoT devices suffers a breach. This comes despite companies having an increased focus on IoT security:

  • Spending on protection has grown (from 11% of IoT budget in 2017 to 13% now);
  • Nearly all (90%) believing it is a big consideration for customers; and
  • Almost three times as many now see IoT security as an ethical responsibility (14%), compared to a year ago (4%)

With the number of connected devices set to top 20 billion by 2023, businesses must act quickly to ensure their IoT breach detection is as effective as possible.

“Given the increase in the number of IoT-enabled devices, it’s extremely worrying to see that businesses still can’t detect if they have been breached,” said Jason Hart, CTO, Data Protection at Gemalto. “With no consistent regulation guiding the industry, it’s no surprise the threats – and, in turn, vulnerability of businesses – are increasing. This will only continue unless governments step in now to help industry avoid losing control.”

To read the full article click here.

Coindesk – Adoption of Blockchain to Secure IoT Doubled in 2018, Says Gemalto

coindeskThe use of blockchain technology to help secure internet of things data, services and devices doubled last year, according to a recent survey by digital security firm Gemalto.

In a report published Tuesday, the firm said blockchain adoption in the IoT sector grew from 9 percent to 19 percent in 2018, even though the industry is still awaiting regulation around the tech.

Jason Hart, CTO of data protection at Gemalto, stressed the need for regulatory clarity in a statement, saying:

“Businesses are clearly feeling the pressure of protecting the growing amount of data they collect and store. But while it’s positive they are attempting to address that by investing in more security, such as blockchain, they need direct guidance to ensure they’re not leaving themselves exposed. In order to get this, businesses need to be putting more pressure on the government to act, as it is them that will be hit if they suffer a breach.”

To read the full article click here.