Growing Role of Cybersecurity Firms as Work from Home becomes the New Normal-TNT, NET

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Growing Role of Cybersecurity Firms as Work from Home becomes the New Normal-TNT, NET

 Growing Role of Cybersecurity Firms as Work from Home becomes the New Normal-TNT, NET

It has been around a month now since businesses have been running through allowing work from home for its employees. Employees working from remote locations have been staying connected through video conferencing as well as audio conferencing apps to carry out everyday business.

As web conferencing solutions are playing a pivotal role in keeping the businesses going through audio/video conferencing, real-time chat, desktop sharing and file transfer capabilities, it is necessary for people to understand the importance of using a secure video conferencing app.

Seeing the heightened concerns throughout society due to the COVID-19 pandemic, including around cybersecurity, the Australian Cyber Security Centre has outlined several steps that businesses can take to protect themselves when using a web conferencing solution:

Securely Configuring the Web Conferencing Solution:

  • Review the service provider’s security features and recommended configurations related to their web conferencing solution
  • Ensure default security settings in web conferencing solutions to be configured to meet organisational security needs
  • Advise staff to use the web conferencing solution on personal devices and ensure application of all security patches to make devices as secure as reasonably practicable

Establish Meetings Securely

  • While sending meeting invitation and permitting guests, send meeting details and access credentials separately through email or encrypted messaging apps
  • Abstain from sharing website links or access credentials on publicly accessible websites or social media
  • Regularly update any access credentials

Keep a Watch on Unknown Participants

  • Allow only invited participants to join a meeting, and consider locking the meeting once all participants are present so no one else can join
  • In case of a telephone call, take note of sounds or visual notifications or ask any unknown participants to identify themselves

Be Mindful of Surroundings

  • Consider using a private location for meetings to maintain confidentiality
  • Use headphones to ensure only approved meeting participants can hear the full discussions

Be Conscious of Conversations

  • Consider the sensitivity of workplace conversations and limit discussions in meetings to those approved to be conducted using a web conferencing solution

Only Share the Requisites

  • While the meeting requires sharing the screen, try to share only an individual application instead of a device’s entire screen if your web conferencing solution may be able to select only a section of a device’s screen to share
  • Functions that allow recording and automatically transcribing calls, subtitle videos or share files are likely to create a risk of inadvertently sharing more content than intended

The rapid escalation in the use of video conferencing apps has got the attention of some of the cybersecurity firms that have been engaged in providing security services. There are already speculations in the market regarding the authenticity of various available video conferencing platforms.

Concerns have been raised by several organisations that are engaged in keeping track of the ethical functioning of these platforms. Maintaining security as well as safety and ensuring privacy while using these platforms has become a challenge for these organisations.

Tesserent Limited (ASX:TNT)

Cybersecurity Company, Tesserent Limited (ASX:TNT) is a provider of world-class managed security service to other business enterprise-grade including Cyber Security and networking solutions targeted at mid-market customers in Australia, and globally in the UK as well as Korea.

The Cyber 360 strategy of TNT offers integrated solutions encompassing detection, defence and 24/7 examining against Cyber Security threats.

Over the years, the Company has emerged as Australia's #1 ASX-listed end-to-end Cyber Security company through acquiring several high-quality Cyber Security businesses, with the latest being north BDT acquisition that was completed in March 2020, as mentioned in its recently released March Quarter 2020 report for the period ending 31 March this year.

A few highlights from the quarter period is as mentioned below:

Source: Company’s Report

Source: Company’s Report

On 6 May 2020, TNT was trading at AUD0.055, down by 1.786% (at AEST 11:31 AM).

NetLinkz Ltd (ASX:NET)

Another cybersecurity firm, NetLinkz Ltd (ASX:NET) has developed an award-winning network technology that assists corporations to instantly connect sites, devices as well as staff over the internet through a unique network solution that is commonly not visible. The Virtual Invisible Network (VIN) can be used over any other type of established public or private network, comprising the Internet, by creating a unique Local Area Network type over a Wide Area Network and is a transformational move in virtual networking.

NET provided quarterly updates in a recently released report for the period ending 31 March 2020, wherein it mentioned that through its ongoing pilots with Omega Development Group, Defence Industry Advisory Services and Onyx Projects, the Company has been actively progressing towards the expansion of its VIN pilot program in Australia and has commenced additional three pilots where the VIN product shall offer:

  • A secure access protection layer to major oil and gas operators for their managed technology solutions
  • A secure file collaboration for a defence technology development consortium spread across Australia, which is currently using the VIN to secure their access to a dedicated, highly secure file collaboration service
  • A secure virtual network to monitor remote asset operation and management services for critical renewable energy assets

The Company has been progressively funding the iSoftStone engineers in the Beijing IoT Lab for the development of the latest version of the VSN Product which is expected to be completed by June 2020.

Upon the delivery of the latest version of the VSN product by the Beijing IoT Lab, NET expects its R&D expenditure to reduce at least 30% since all development costs of the VSN product shall move to iLinkAll.

Beijing IoT Lab delivers this version of the VSN product, by the end of the June Quarter, all future development costs of the VSN product will shift to iLinkAll which will reduce Netlinkz’s R&D expenditure (Current Quarter A$976k) by at least 30%.

Other measures that can help to avoid any possible harm through these apps and platforms and ensure healthy use of these apps for businesses are as follows:

  • Keep your software up to date by turning on automatic updates for operating systems, scheduling the update for a convenient time to avoid disruptions to your work
  • Use Strong and Unique Passwords and not sharing the same with others while not letting the browser to remember the passwords
  • Activating multi-factor authentication to prevent unauthorised access to computers, applications and online services and effectively control security by asking for a PIN, security questions, etc.
  • Create a backup for your data to an external USB hard drive or to somewhere on the internet, such as a cloud storage service

While the most common cybersecurity incidents can be avoided through the implementation of several simple measures discussed above, cybersecurity firms have been doing their bit to reduce the risk and the impact of the potential cybersecurity incidents that can harm the businesses’ day to day operations.

On 6 May 2020, NET was trading at AUD0.043, down by 6.522% (at AEST 12:02 PM).


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