News Release
Microsoft Offers Free Cybersecurity Tools as Attacks Become More Sophisticated
MarketJar
Following criticism of its handling of a major alleged Chinese hack that compromised US government email accounts, Microsoft announced that it will be providing free cybersecurity tools to certain government and commercial customers. Starting in September, Microsoft's cloud computing customers will have access to critical data without additional charges, aimed at helping them detect and respond to cyberattacks more effectively. The move comes after cybersecurity officials expressed private frustration over Microsoft's perceived lack of action in detecting the alleged Chinese cyber-espionage campaign, which targeted two-dozen organizations and became public last week. The State Department, having detected the cyber activity in June, reported it to Microsoft. With data generation and storage on the rise, and global internet connectivity expanding rapidly, the attack surface for cybercriminals and nation state hackers has grown considerably. Gaps and vulnerabilities in systems provide ample opportunities for exploitation, and malicious actors are quick to take advantage. Cyberattacks globally have risen by 7% in Q1 2023 compared to the same period last year, with companies encountering an average of 1,248 attacks weekly. The Canadian Centre for Cyber Security, led by Sami Khoury, has emphasized the rise and growing sophistication of ransomware attacks, urging stronger defenses. Traditionally, ransomware attackers hijacked systems to demand money for access restoration. However, tactics have shifted towards data theft, leveraging the threat of release or sale of sensitive data. This change proves more profitable as companies improve their data recovery strategies. Cybercrime has become Canada's primary cybersecurity threat with notable Canadian organizations including Indigo, Sobeys, Suncor Energy Inc., and Toronto’s Hospital for Sick Children being targeted. The rise in cyberattacks underscores the urgent need for robust cybersecurity, meaning organizations and individuals alike must be vigilant and proactive in securing their systems and data to safeguard against potential threats. Fortunately, cybersecurity companies are stepping up the plate with innovative solutions that have the potential to protect major companies and government agencies. Plurilock Security Inc. (TSXV:PLUR) (OTC:PLCKF) is one company standing out in the space by leveraging behavior analytics and artificial intelligence (AI) to provide cutting-edge least privilege cybersecurity solutions. By analyzing individual behavior patterns, the company’s AI technology can identify and detect malicious activities within seconds, offering real-time protection against cyber threats. A Leader in Advanced Continuous Authentication Technology Plurilock Security ’s unique AI-based cybersecurity solutions have attracted attention from governments and commercial clients. The AI system identifies harmful behavior in seconds, monitoring individual patterns for real-time security against cyber threats. Plurilock AI comes in three versions. Plurilock AI Cloud ensures least privilege access management across a company's cloud-based data, while Plurilock AI Cloud DLP extends this protection to employee workstations. Plurilock AI Complete integrates these with machine learning and behavioral biomimetic technologies. On July 25, renowned global IT research and advisory firm Info-Tech Research Group ranked Plurilock AI as the top Cloud Access Security Broker (CASB) software, outranking competitors like Microsoft Defender for Cloud Apps, Prisma Cloud, Cisco Cloudlock, and Oracle Cloud Access Security Broker. Notably, Plurilock AI received accolades for its exceptional product features, high user satisfaction, and the impressive experience and capabilities offered by the vendor. Plurilock 's DEFEND continuous authentication product was also featured in a recent Omdia "On the Radar" report. The report highlights the capabilities of DEFEND, which seamlessly integrates with Amazon WorkSpaces and is designed to secure remote work sessions. Additionally, the report acknowledged the company’s single sign-on, data loss prevention, and cloud access security broker technology. Plurilock has continued to sign new contracts and renew older ones, resulting in a 125% increase in first quarter revenue year-over-year, increasing from C$7 million up to $15.8 million. During Q1 alone, a total of 16 sale orders and contract renewals were announced for Plurilock’s core AI-driven technology offering, including cross-sell buy orders with two US financial institutions. For more information about Plurilock Security Inc. (TSXV:PLUR) (OTC:PLCKF), click this link or visit their website at plurilock.com. 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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 Plurilock Security Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Plurilock Security Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Plurilock Security Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Plurilock Security 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 Plurilock Security 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) Plurilock Security 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 Plurilock Security Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Plurilock Security Inc.’s business operations (e) Plurilock Security Inc. may be unable to implement its growth strategy; and (f) increased competition. 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July 25, 2023 09:30 AM Eastern Daylight Time
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