MCLEAN, Va., July 30, 2021 /PRNewswire-PRWeb/ -- Ali Khan has spent his career working to combat the persistent and escalating cyber attacks on the financial services sector. He points out that "cyberattacks hit financial services firms 300 times more than other companies, costing an average of $18.3 million per company."
As CTO of the Financial Services Information Sharing and Analysis Center (FS-ISAC), he watched his member organizations wrestle with the persistent onslaught of ransomware, data exfiltration, DDoS, phishing and other sophisticated attacks. According to Ali, "there are no shortage of threats and little time to rest when you're in the threat intelligence information sharing business."
At Soltra Solutions, Ali saw firsthand the benefits and shortfalls of data-only sharing efforts. Ali observed that "understanding yesterday's data does not guarantee that you will be able to anticipate tomorrow's attacks." Those insights, according to Ali, "can only be gleaned when analysts openly share lessons learned and employ their collective insights. Good analysts share data, great analysts share insights, and sharing insights requires platforms analysts can trust, like ArmorText." Upon joining the financial services cybersecurity practice at Booz Allen Hamilton (BAH), Ali saw firsthand the importance of analysts being able to share insights rather than just data. According to Ali, "BAH has a strong culture of former military and intelligence professionals. That culture lends itself to direct and collaborative engagement with others, yielding greater creativity and a better and more informed decision-making process."
According to Ali, "ArmorText's Zero Trust architecture, and patent-pending, user + device-specific end-to-end encryption protocol is the industry benchmark for cybersecurity operations." He explained that the targeting of board and c-suite executives, incident response staff, and IT email accounts have become routine. "Losses emanating from Business Email Compromise (BEC) and Email Account Compromise (EAC) scams are out of control." The FBI tallied up losses of approximately 1.86 billion in 2020 alone. "Cybercriminals are loitering in networks, reading emails, sitting in on Zoom and Webex calls, impersonating CEOs, and approving payments of fictitious invoices for compromised vendors. It's insane, but it works," Ali stressed.
According to Ali, "Both the legal and financial sectors should be employing the ArmorText Tier and Protect™ Strategy. ArmorText has taken a page out of the national security playbook to prevent targeted reconnaissance activities employed by nation-state-sponsored cyber criminals in the corporate arena."
"Ali is a respected thought-leader and trusted advisor to CISOs, CTOs, SOC managers, and threat intelligence analysts throughout the financial services sector. He will be instrumental in accelerating ArmorText's next stage of growth and we're delighted to have him on the team," said Navroop Mitter.
ArmorText is a cloud-based app built to meet the specific security, interoperability, and governance requirements of regulated industries. It enables seamless and secure end-to-end encrypted messaging, file sharing, voice calling, and video conferencing, across all major operating systems and smartphone, tablet, laptop, and desktop devices.
The ArmorText patent-pending, user + device-specific end-to-end encryption protocol:
- Has robust data governance, retention, and review features required by Freedom of Information Act and other open-records laws
- Enables data portability between devices and burner phone support for executive protection details
- Makes it possible to remotely wipe a user's replaced lost, stolen, or compromised devices without impacting the continuity of conversations on their remaining devices
- Defends against insider threats by making it possible to assign independent reviewers and administer the platform without having read access to user data
- Enables Global Federation (interoperability between known organizations) via a patent-pending, Trust Relationship Information Sharing Protocol
Unlike Wickr, Mattermost, or Slack, ArmorText does not require hardware, upgrades, or the additional cost of dedicated customer infrastructure and personnel to deliver the highest level of security, governance, global federation, and archival retention/review.
According to Navroop Mitter, founder, and CEO of ArmorText, "ArmorText is the fastest growing secure collaboration platform in critical infrastructure. More than 120 companies, including the Department of Energy, the International Monetary Fund, and eighty percent of all large public and private power utilities, use ArmorText Secure Teams to safeguard sensitive communications and strengthen their cyber defenses."
Connect with ArmorText
Press Contact: John Villanueva, VP, Strategy, Marketing, and Client Education. Phone: (202) 644-8777
John Villanueva, ArmorText, +1 202-644-8777 Ext: 0, [email protected]