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Identity Management and Information Security News for the Week of June 21; Fideo Intelligence, Veriff, Aim Security, and More

Identity Management and Information Security News for the Week of June 21

Identity Management and Information Security News for the Week of June 21

The editors at Solutions Review have curated this list of the most noteworthy identity management and information security news for the week of June 21. This curated list features identity management and information security vendors such as Fideo Intelligence, Veriff, Aim Securityand more.

Keeping tabs on all the most relevant identity management and information security news can be a time-consuming task. As a result, our editorial team aims to provide a summary of the top headlines from the last month, in this space. Solutions Review editors will curate vendor product news, mergers and acquisitions, venture capital funding, talent acquisition, and other noteworthy identity management and information security news items.

Identity Management and Information Security News for the Week of June 21

Hackers Derail Amtrak Guest Rewards Accounts in Breach

This week, Amtrak has disclosed a data breach affecting train travelers’ Guest Rewards accounts. In a breach-disclosure notice filed with the state of Massachusetts, the national passenger rail service noted that an unknown third party gained unauthorized access to users’ account information during the time period of May 15-18. The transport giant determined that compromised usernames and passwords from prior breaches were likely used to access certain accounts, and stressed in the breach notice that there was no hack of Amtrak systems. “Threat actors have realized the high rewards of stealing from travel loyalty programs, which can easily be sold on the Dark Web or converted to tickets that they later sell,” said Stuart Wells, Jumio CTO, in an emailed statement shared with media. “It’s a reality that’s particularly tough on travelers who have worked for months, or even years, to accumulate loyalty points and status through regular trips. Customers who are less frequent travelers may not notice their points disappearing for a long time.”

Read on for more.

Data and Identity Solutions Startup, Fideo Intelligence, Officially Launched

This week, Fideo Intelligence officially debuted  with a lineup of data, fraud, and identity solutions readily available to the public. Inspired by the concept of “Fides Publica,” or public faith, Fideo is “enabling intelligence-informed decisions for the public good.” Fideo’s intelligence solution identifies more accurate digital personas by fusing digital, transactional, behavioral, device-related, geospatial, and historical fraud data together to give platforms the information needed to keep pace with potential fraudsters. “As companies transform digitally, verifying the authenticity of identity information is more challenging than ever. Fraudsters use a mix of real-world information from a mixture of people to create synthetic identities that are becoming increasingly difficult to detect,” said Chris Harrison, CEO of Fideo Intelligence. “With Fideo, we aim to tackle this problem head-on by providing advanced, real-time data that continuously evolves to outpace fraudulent activities. Our goal is to empower businesses with the tools they need to identify and prevent fraud, ensuring a safer and more secure digital environment for everyone.”

Read on for more.

AttackIQ and Trium Cyber Announce Global Partnership

AttackIQ, a vendor of breach and attack simulation (BAS) solutions and founding research partner of the MITRE Engenuity Center for Threat-Informed Defense (CTID), this week announced a partnership with Trium Cyber, a cyber insurance provider. The partnership will provide AttackIQ Flex to Trium Cyber policyholders as part of a pre-incident suite of solutions to increase insured cybersecurity maturity and reduce insured risk. AttackIQ Flex is an on-demand, agentless test as a service. It enables organizations to quickly emulate adversary behavior through a simplified user experience, delivering detailed security control performance metrics and mitigations in minutes. AttackIQ Flex leverages AttackIQ’s advanced adversary emulation software that fully emulates cyberattacks, replicating the tactics, techniques, and procedures employed by real-world adversaries and their campaigns. “Trium Cyber is a true innovator in the cyber insurance space,” said Rupen Shah, Vice President of Business Development, Channels and Alliances at AttackIQ. “Their commitment to offering pre-incident services like AttackIQ Flex goes beyond the traditional model. It fosters a collaborative partnership with their insureds, empowering businesses to proactively strengthen their defenses. This helps individual companies reduce their cyber risk and contributes to a more resilient cyber insurance landscape for everyone.”

Read on for more.

Veriff Research: “Almost 90 Percent of Enterprises Report an Increase In Online Fraud”

Fraud is hitting businesses hard in 2024. That’s the main takeaway from the Veriff Fraud Industry Pulse Survey 2024, in which they surveyed hundreds of senior decision-makers and fraud leaders from businesses across the US in the year to April 2024 to find out how fraud is impacting their businesses. Covering key sectors in the rapidly evolving digital ecosystem, such as compliance, digital fraud, risk, financial crime, customer authentication and more, the survey explores what keeps fraud professionals in the US awake at night– and the steps they are taking to protect their businesses.

Read on for more.

Ping Identity Named Leader in Two 2024 KuppingerCole Reports for CIAM and Passwordless

Recently, Ping Identity, a leading provider of identity management and passwordless solutions, has been named an overall leader in two 2024 KuppingerCole Leadership Compass reports, including Customer Identity and Access Management (CIAM) and Passwordless Authentication of Customers. “The combined Ping Identity and ForgeRock product suites lead the ever-growing field of CIAM vendors,” said John Tolbert, Director of Cybersecurity Research and Lead Analyst at KuppingerCole. “Ping’s combined portfolio is among the strongest in the industry and makes them a viable CIAM choice for any organization anywhere.”

Read on for more.

Aim Security Closes $18M Series A Funding

Aim Security, a cybersecurity solutions for generative AI startup, announced this week that they have secured $18 million in Series A funding led by Canaan Partners, with participation from the company’s seed investor, YL Ventures. Founded by cybersecurity veterans Matan Getz, CEO and Adir Gruss, CTO, who have broken and built AI platforms, including in the IDF’s elite intelligence Unit 8200. Aim’s backers include the founders of WIZ and industry leaders from Palo Alto Networks, Proofpoint and Google. This is among the fastest Series A rounds in cybersecurity history and brings Aim’s total funding to $28 million. “Generative AI is transforming industries from finance to healthcare. However, this power also comes with significant risks and the need for robust security solutions developed specifically for generative AI has never been more urgent,” said Joydeep Bhattacharyya, General Partner at Canaan. “Aim Security has quickly moved to the forefront of this industry through its rare combination of expertise, customer-centric ethos and impressive revenue growth. I’m confident Aim Security is uniquely positioned to enable enterprises to harness the transformative power of AI, securely and at scale.”

Read on for more.

Expert Insights Section

Insight Jam logoWatch this space each week as our editors will share upcoming events, new thought leadership, and the best resources from Insight Jam, Solutions Review’s enterprise tech community for business software pros. The goal? To help you gain a forward-thinking analysis and remain on-trend through expert advice, best practices, trends and predictions, and vendor-neutral software evaluation tools.


Cyber Threats; Physical Consequences

The urgent call for O-type blood donations following the ransomware attack on Synnovis is proof of the dangerous and disruptive real-life consequences caused by cyberattacks.

The ongoing repercussions from this attack are a critical reminder that cyber threats are not victimless crimes. When threat actors breach key infrastructure, such as healthcare, they are directly disrupting patient’s medical care and possibly even threatening lives as we’re now seeing. Healthcare organizations need to treat this attack as an urgent reminder to prioritize the cybersecurity of not only their own systems, but also of any third-party providers they are using.

Threats are only becoming more advanced and traditional defensive strategies are continuously being challenged. Keeping ahead of sophisticated risks requires organizations to do the basics well including patching, backups, and implementing two-factor authentication everywhere possible. They also need to take proactive measures to ensure they have sufficient visibility across their environment as well as appropriate tooling to support Threat Detection Investigation and Response (TDIR) efforts. One hundred percent security is not possible, but organizations should seek to reduce the risk as much as possible considering the consequences of a successful compromise. Failure to take action risks the well-being of individuals who rely on essential services and no industry is safe.

-Andrew Hollister, CISO at LogRhythm

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