On October 21, 2021, the Global Encryption Coalition (GEC) will hold the first annual Global Encryption Day.  This event is organized to tell governments around the world that protecting and strengthening encryption is crucial to making the internet safer for everyone.  At IronCAP™, we couldn’t agree more. True end-to-end data encryption is critical for a safe cyberspace.

Despite increased investments in cybersecurity, most organizations and government agencies are lacking the tools to fight phishing and ransomware. And most of them will only upgrade their security measures AFTER suffering from a ransomware attack instead of before.

On October 17, 2021, The US Treasury ‘s Financial Crimes Enforcement reported, “…ransomware related transactions totaled around $590 million from January 2021 to June 2021.” Furthermore, Proofpoint reported that 57% of organizations had experienced a successful phishing attack in 2020. That is an increase of more than 50% in just one year!  Ransomware attack is ranked as the top crime contributing to 44% of all business losses.  And cybercrime magazines also reported that a ransomware attack is expected on a business every 11 seconds by the end of 2021.

Current ransomware solutions based on such as zero trust, employees’ best practices, anti-virus software and AI threat detection may help.  However judging from the ransomware stats it is obvious that these are either not being applied properly or they don’t work.  It would be a huge stretch of the imagination to think that education alone is going to stop phishing. Moreover COVID has added massive numbers of remote workers to the complexity of managing the security of remote systems.  Employees’ best practices can improve the situation a bit but they are not a serious antidote to phishing.

Over the past 5 years our world-renowned team of crypto scientists have worked very hard to develop an antidote to phishing.  IronCAP X™  is the most innovative end-to-end email encryption system to cut off phishing at the root.  Its quantum-safe, true end-to-end encryption with digital signatures will eliminate phishing not just today but in the quantum future too. Organizations need to realize that their current security measures are not working.  They must implement true end-to-end email/file encryption to deal with phishing at the root.

On Global Encryption Day, the Global Encryption Coalition wants people from all over the world to make the switch to end-to-end encrypted platforms.  Let IronCAP™ help you.  To find out more, please visit www.ironcap.ca.

References:

Cybersecurity vs Cyber Resilience
The Verge – US Treasury report
Global Encryption Day