We are in an era where we can enjoy the conveniences of widespread connectivity and unlimited storage options. Ninety percent of the data in the world has been created in the last two years. The current output of data is roughly 2.5 quintillion bytes a day. And this increasing datafication of our world has led to an unprecedented explosion in data. As the world steadily becomes more connected with an ever-increasing number of electronic devices, that’s only set to grow over the coming years. That being said, corporate data is a valuable asset that requires multi-layered security protection. The vulnerability of infrastructure and data can compromise both the current financial situation and endanger its future. “Rising awareness among CEOs and boards of directors about the business impact of security incidents and an evolving regulatory landscape have led to continued spending on security products and services,” said Sid Deshpande, principal research analyst at Gartner. Amidst this, the EU General Data Protection Regulation (GDPR) has caused an overall unease among organizations in Europe. While organizations are working toward strengthening their knowledge of the regulation, those with some form of data loss prevention (DLP) already implemented are determining what additional capabilities they need to invest in (specifically, integrated DLP such as data classification, data masking and data discovery).
With the market witnessing a new blend of pioneers striving to safeguard businesses from the looming threats of the modern day cyber world, very few individuals are leading innovative companies who cultivate a unique perspective of going the extra mile in devising innovative solutions.
MyCrypt: Security, on the Agenda
One such name is AgendaSec, which was established by David in Dublin, Ireland, in 2013. AgendaSec with a reseller NetDefender, LTD is operating across many markets of Ireland and the EU. A North American reseller is Agenda, LLC that currently operates in the MidAtlantic region. There are many reseller options still available for various regions and countries. David, with his team of experts went on to design the company’s premier authentication and encryption solution called MyCrypt aimed at making the corporate data highly inaccessible, and entirely unusable for the external entities. AgendaSec’s primary objective is to move beyond mere perimeter security concerns and to focus on a far more crucial aspect: The Data Security. “We are focusing on the data more than the network. The network is just our vehicle. The critical piece is the data, and we are ensuring that only the right people can see it, touch it, and use it,” affirms David.
The MyCrypt solution meets and in fact exceeds the current regulatory standards of the European market; including the upcoming General Data Protection Regulation (GDPR) of the European Union (EU). Therefore, a common concern of protecting the business data and customer data is becoming a priority for organizations across EU.
The critical piece is the data, and we are ensuring that only the right people can see it, touch it, and use it
These factors have further elevated AgendaSec’s market stature within the European market.
The company offers its proprietary MyCrypt cybersecurity solution through a unique combination of authentication, encryption, and access control. The MyCrypt solution integrates with the user’s existing environment and protects their files from inside the wall. The solution analyzes and guarantees an individual’s claim of his/her identity before granting access to the requested application or data. Post this step, MyCrypt decrypts/ encrypts the application or data and allows it to be then run or used like any other application or data. “One of the biggest advantages of MyCrypt is that it can be easily implemented without having to alter the client’s existing environment,” informs David.
The MyCrypt solution is segregated into three primary components. The first piece is a secure biometric device, which is with the individual end-user; the second piece is the Command and Control Service, which includes the management and reporting functions; and the third piece is a small helper application that can be run from the security device or installed on the end user machine.
A multitude of organizations operates today with a single layer of security, predominantly in the form of a username/password challenge or single sign-on solution. However, securing and authenticating through these systems is highly unreliable since attackers can illegitimately acquire authorized credentials, which has proven to occur very frequently. To explain this challenge further, an organization can utilize encrypted hardware, have the best Intrusion Detection, Firewall, Endpoint Security etc., and a single lost credential of an authorized user goes straight through all of this protection. MyCrypt ensures the utmost safety against this through its multilayered and multi-factor approach.
The physical layer is a security device which is protected by a hardware AES256 encryption, and the MyCrypt encryption is within that layer. It also has a biometric reader, which is used to unlock the device. The biometric data is verified through a match-on-chip solution, and, therefore, never exposes the sensitive biodata to any other device or system—thus, it remains in possession of the user. Once the initial physical validation has taken place, these values are combined to create a unique ID, which is then passed to the command and control service to validate the user, device, and account status. All of this validation and verification is carried out within seconds, and, once accomplished, the user is granted access to the application, and the data is authorized for that specific user to utilize.
MyCrypt Command and Control Service is a SaaS solution component that provides organizations with a virtualized environment with its dedicated instance. It also ensures that only the devices authorized within an organization have access to the data that is being protected. There are many options as to where this component is hosted and can be nearly anywhere the customer desires. The service is offered as a hosted SaaS, a dedicated hosted appliance, and it can also be a virtual appliance that can be hosted on a customer’s existing hypervisor, or a physical appliance that is installed within the customer’s network.
The MyCrypt solution is written in a modular format, significantly reducing the challenge of integrating into an existing environment. It also provides a very high level of scalability. The scalability factor of the solution varies over the different tiers of the license agreement, with the enterprise level license offering nearly endless scalability.
A Reliable Security Partner
Having witnessed countless events of successful hacks and attacks in his career, David illustrates all the vital aspects that impact an organization’s security stance. According to David, the crucial factors that determine the modern security standards of an entity are its ability to stay on par with current technologies, their trends, and the drawbacks that follow. “It is often identified that the weakest link of a network is the human element, and the important data is commonly leaked or retrieved illegitimately through a person to execute the attack,” says David. To mitigate this challenge, organizations have to focus on training the clients and their employees of the security solutions deployed with a complete knowledge of their procedures and policies. David further explains, “It is a part of the solution. Deploying a security solution without proper training is like having the world’s most secure door-knob installed, and you leave the window open”. As a founder of a successful cybersecurity firm, David believes that a reliable security partner must take the responsibility to keep up with technology and steer the client through dangerous waters of the modern business world.
AgendaSec is currently focusing on developing advanced techniques for extending the MyCrypt solution to smartphones and to leverage the smart card technology as the security device. The company also plans to launch secure chatting. This platform is designed to be an instant messaging solution equipped with MyCrypt encryption allowing the facilitation of entirely safe chat conversations. With the prospects of more opportunities to optimize the solution, secure chatting is one of the most crucial projects that the company looks forward to working on. David says, “There are so many people out there who need that kind of technology, and that is what we are providing.” The firm’s technology is future proof because instead of trying to find a way to keep people out, David and his team are making the data unusable to anyone, who is not supposed to have it. “We focus on data, not on the network.”