Wave Systems Corp. (NASDAQ:WAVX; www.wave.com) announced today the results of a survey of enterprise network security professionals that reveals a lack of preparedness for Advanced Persistent Threats (APTs) at many firms. The focused survey also highlighted a general confidence and a false sense of security among network security managers and staff about the ability of IT defences to prevent cyber-attacks in the next year.
The Wave Systems’ State of Network Security Survey 2012 polled a representative group of 256 IT security managers, professionals, analysts and decision-makers in the United Kingdom this month (April).
It found that 43 per cent of respondents felt they did not have an effective detection system or defence to deal with APTs, sophisticated malware that penetrates device and network security software barriers before launching potentially devastating attacks to disable or destroy equipment, or to steal data. APTs can remain undetected over an extended time. The most notorious APT has been the Stuxnet virus, which targeted and damaged Iranian nuclear facility computers. Latest reports suggest the virus was introduced to the system through an infected memory stick.
Despite the large number of network security professionals indicating inadequate defences against APTs, most of them believe that their enterprise networks are effectively prepared to deal with cyber-attacks in the coming year. They were asked to rate their IT defences against security attacks on a scale of 1 to 10, which produced a mean score of 7.3. In other words, 73 per cent believed they had a system ranking between 7 and 10 on the effective security scale.
Greater Need for Port Control, Proof of Encryption
Strong Majority See Benefits of Hardware Security for Authentication, Encryption
Joseph Souren, General Manager Wave Systems EMEA, says: “Our survey focused on new network security threats, regulatory compliance and the challenges presented by multiple devices and the Cloud. It indicates that there are definite gaps for many firms in both understanding of the growing cyber-threats and new strategies that enterprises must implement to be fully compliant with EU regulations.”
Note: The Wave Systems’ State of Network Security Survey 2012 was conducted online from April 13-18th by Redshift Research and polled a focused sample of 256 IT network security managers, IT security professionals and decision-makers in the UK.
"Our survey focused on new network security threats, regulatory compliance and the challenges presented by multiple devices and the Cloud. It indicates that there are definite gaps for many firms in both understanding of the growing cyber-threats and new strategies that enterprises must implement to be fully compliant with EU regulations."
Joseph Souren, General Manager Wave Systems EMEA
About Wave Systems
Wave Systems Corp. (NASDAQ: WAVX) reduces the complexity, cost and uncertainly of data protection by starting inside the device. Unlike other vendors who try to secure information by adding layers of software for security, Wave leverages the security capabilities built directly into endpoint computing platforms themselves. Wave has been a foremost expert on this growing trend, leading the way with first-to-market solutions and helping shape standards through its work as a board member for the Trusted Computing Group.
Safe Harbor for Forward-Looking Statements
This press release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Wave assumes no duty to and does not undertake to update forward-looking statements. All brands are the property of their respective owners.
24th April 2012
Lloyd Gofton
Director, Liberate Media
+44 (0)7919353484
Tim Greenhalgh
Consultant, Liberate Media
+44 (0)7808 608 416
Lucy Brandt
Consultant, Liberate Media
+44 (0)7720 635048
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[APTs] [Wave Systems] [IT Security] [network security]
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