Global Encryption Software Marketwas valued US$ 3.45 Bn in 2017 and is expected to reach US$ 9.23 Bn by 2026, at a CAGR of 14% during a forecast period.

The global encryption software market based on component, application, deployment type, organization size, vertical, and region. In terms of component, the encryption software market is classified into solution and services. Based on application, the encryption software market is categorized into disk encryption, file/folder encryption, communication encryption, and cloud encryption. On the basis of deployment type, the encryption software market is segregated into on-premises and cloud. In terms of organization size, the encryption software market is classified into large enterprises, small and medium-sized enterprises (SMEs). Based on vertical, the encryption software market is divided into Banking, Financial Services, and Insurance (BFSI), healthcare, government, and public utilities, telecom and IT, retail, aerospace and defense, and others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

The growing concerns of data breaches and privacy compliance regulations are making companies keener to adopt software-based encryption solutions to achieve compliance, improved data security, and better flexibility in operations. Encryption software allows the organizations to safeguard their intellectual property and other sensitive data, thus escalating the market growth over the forecast period. Although this encryption software offer significant benefits, their adoption may experience challenges terms of budget. The deployment options for these solutions are complex and time-consuming, however, the benefits offered by them often overshadow the challenges pertaining to the complexity and the time associated with their deployment.

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Global Encryption Software Market

In terms of deployment type, the on-premise segment emerged as a dominant deployment segment. However, the cloud-based segment is anticipated to grow considerably over the forecast period. The establishment of new businesses in the developing economies is further expected to propel the demand for cloud-based solutions.

Based on application, the cloud solutions segment is anticipated to witness growth. Data storage is one of the major resources for several industries including banking & financial, retail, and others to move to the cloud. The growing mobile theft and cyber-attacks have led to mandated regulatory standards related to data transfer and its security.

In terms of region, North America leading the global encryption software market, followed by Europe. Owing to rising adoption of technologies and strict data privacy regulatory compliance, North America is anticipated to retain its leadership in the global encryption software market during the forecast period.

Some of the key players in the global encryption software market are Symantec, Microsoft Corporation, Bloombase, Cisco Systems, EMC Corporation, Check Point Software Technologies, IBM Corporation, Intel Security, Trend Micro, and Sophos.

Scope of the Global Encryption Software Market

Global Encryption Software Market by Component

Solution Services

Global Encryption Software Market by Application

Disk Encryption File/Folder Encryption Communication Encryption Cloud Encryption

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Global Encryption Software Market by Deployment Type

On-premises CloudGlobal Encryption Software Market by Organization Size

Large Enterprises Small and Medium-sized Enterprises (SMEs)

Global Encryption Software Market by Vertical

Banking, Financial Services, and Insurance (BFSI) Healthcare Government and public utilities Telecom and IT Retail Aerospace and defense Others

Global Encryption Software Market by Geography

North America Europe Asia-Pacific Middle East & Africa Latin America

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Key Players operating in the Global Encryption Software Market

Symantec Microsoft Corporation Bloombase Cisco Systems EMC Corporation Check Point Software Technologies IBM Corporation Intel Security Trend Micro Sophos SAS Institute Inc. WinMagic Inc. OpenPuff Cryptocat KeePass

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Encryption Software Market by Type, Size, Technology and COVID-19 Impact Global Forecast 2021 to 2027 Bolivar Commercial - Bolivar Commercial

IBM Security X-Force researchers have recently reverse-engineered Prometheus ransomware samples as part of ongoing incident response operations. X-Force has found that samples that infected organizational networks featured flawed encryption. This allowed our team to develop a fast-acting decryptor and help customers recover from the attack without a decryption key.

While rare, ransomware developers can make mistakes in the ways they implement encryption, causing unintended flaws. This is not the first time X-Force sees faulty encryption mechanisms save the day for victimized organizations. Mistakes can easily occur when malware developers use patchwork code and dabble in cryptography without appropriate expertise.

Most organized cybercrime groups do use properly configured encryption, which is almost always impossible to break. That said, the option to examine possibilities can make a difference for victimized organizations and change the course of negotiation and recovery.

In early 2020, a new ransomware family dubbed Thanos was discovered on sale in underground forums mostly frequented by cybercriminals. At the time, Thanos was advertised as a Ransomware Affiliate Program, available for anyone to buy. The malware saw regular updates and new features added over time. A closer look at its code revealed that it was also used at the baseline in ransomware samples that were tracked as Hakbit and used in additional attacks that targeted organizations in Austria, Switzerland and Germany.

Thanos developer equipped it with a bootlocker in mid-2020 and was also using a somewhat novel technique of encrypting files known as RIPlace, in which they weaponized research into ransomware evasion techniques based on file characteristics.

In September 2020, Thanos was detected in attacks on government organizations in MEA. It presented the victims with a black screen that demanded money to unlock files, and while it had a supposed capability to run a destructive attack, that function did not work and left MBR intact.

By June 2021, more of Thanos made headlines, only this time as the base code for another ransomware, Prometheus. The latter was used in double-extortion attacks that encrypted files but also stole data and threatened to release it unless a hefty ransom was paid. Prometheus operators claimed to be part of the REvil group, they even placed a logo of sorts on their demands for ransom but provided no proof to that effect and may have wanted to use that as a pressure tactic.

Figure 1: Prometheus ransom note

While the original Thanos is not as active, its code does not rest. In mid-2021 it was detected in further ransomware attacks, this time used by a group going by the name Haron.

The Thanos code itself was and is being used by multiple threat actors, some of which were suspected to have nation-state sponsored ties. The Prometheus variant has died out in recent months, but other variations can continue to rise from the same Thanos base. What changes through each variation is customization. In Prometheus case, its operators used social engineering well, but were not as adept at working with encryption.

While working on Prometheus samples that encrypted files on infected devices, IBM Security X-Force researchers uncovered a weakness in the key generation algorithm used in the encryption process. Unlike most ransomware cases, this was good news that ended up helping a victimized organization.

Our analysis showed that to generate the seed for encryption, the algorithm Prometheus selected uses a hardcoded initialization vector (IV) and the uptime of the computer. This means that the seed value is a lot easier to guess than it should be, since certain parameters about the encrypted file and the infected device can be obtained.

Based on such parameters, X-Force wrote a decryptor that ended up working quickly to decrypt file types that had known file headers, for example: pdf, doc, xls, ppt, docx, xlsx, pptx, 7z, mp3, jpg, jpeg, zip, iso, exe, dll, sys and png. Decrypting the files was made even easier when device boot time was known. Boot times are not a parameter one would have to guess, they can be obtained via the CBS.log file in the Windows directory.

Using the decryptor was a great option for the recovery process X-Force supported, but another note is important here. Some open-source decryption tools may emerge over time and might seem like a recovery tool that can help in large-scale cases. One must consider the time it takes a decryptor to unlock each file. Some open-source tools can take around five hours per file, or more, which would be too time consuming in cases where a lot of data is no longer accessible. A reasonable amount of time to decrypt each file should be a few minutes or less.

In the Prometheus variants analyzed, there are two ways the ransomware can be configured for encryption:

Encryption process per file:

Encryption process per file:

X-Force found this technique to be lacking in a way that allowed for finding a way to decrypt affected files.

C#s Random class will generate the exact same bytes as long as the seed is known. In this case, the seed is the Environment.TickCount variable, which is the number of milliseconds elapsed since a computer was last started.

That seed value can be guessed given certain parameters. Moreover, the Environment.TickCount variable is also updated around every 16 milliseconds, so it is possible for multiple files to have the same key, which can make decryption even faster down the line.

The hardcoded IV provided no additional security in this case, considering it can easily be obtained and appears to be the same for every sample analyzed. To make encryption stronger, the IV should typically be random or pseudorandom.

Can all Prometheus samples be broken in the same way? X-Forces analysis indicates that any Prometheus sample that uses the C# Random class to generate keys is vulnerable. Of note, they only decrypted files that were encrypted using a Salsa20 stream cipher. Some Prometheus ransomware samples can be configured to use AES-256 and while these samples are still vulnerable, X-Force did not test the decryptor on such in their current work.

To decrypt files, we would need the following information:

Currently, only files with known file headers can be decrypted. For example: pdf, doc, xls, ppt, docx, xlsx, pptx, 7z, mp3, jpg, jpeg, zip, iso, exe, dll, sys and png.

The following process is what X-Force used in their current work to decrypt data encrypted by Prometheus. It focuses on the malwares first configuration.

Note that during any decryption effort, whether custom-built or provided by ransomware actors, certain conditions can affect the accuracy of time estimates of the decryption. If a file takes longer than desired to unlock, it is likely that any other file from that same device will take a similar amount of time.

If the seed value is found for the first file encrypted, that seed value can be continuously incremented in order to find the values for every other file. This may provide a slightly faster decryption process for computers with hundreds or thousands of files to decrypt.

The decryptor tool can be run against an entire directory of files or on a per file basis.

The ransomware problem has turned into a true pandemic for organizations. Every month new attacks are detected, and new malware families and variations arise in the commercial cybercrime arena and through closed groups. Companies are struggling to prevent ransomware infections on the one hand and prepare for incidents on the other. Paying cybercriminals has also turned into a high-stake negotiation where the leverage is almost always on the attackers side.

Will it ever end? With this crime being so rampant in industrialized countries, governments and law enforcement agencies are becoming increasingly involved in ransomware cases, especially in cases where multiple companies are hit.

Stopping attacks is hard because it only takes a small security gap for attackers to find a way in. Response goes a longer way in detecting, containing and helping organizations recover from ransomware attacks. IBM Security X-Force can help. For a ransomware readiness and response guide, download the Definitive Guide to Ransomware here. For any other assistance by IBMs team of experts, explore their incident response and threat intelligence services here.

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From Thanos to Prometheus: When Ransomware Encryption Goes Wrong - Security Intelligence

Cybersecurity organization FortKnoxster launches its one-stop crypto application Crypto Suite with a scope of components focused on the crypto and security lovers. With security breaks worldwide of blockchain innovation and cryptocurrency winding up being more ordinary, FortKnoxster has really used what is known as a Hierarchically Derived (HD) wallet design, enabling supported security and strong defense. Joined with default and smooth end-to-end record encryption, the security level is incredibly strong.

Fiat to crypto and reverse

Among the elements, which all are ensured by strong end-to-end encryption, are:

Crypto to crypto exchange

Send/request crypto direct in the secure chat

Store and transfer non-fungible tokens, or NFTs

Video calling, group chats, storage and voice messaging

PIN/Biometric security protection

Upgrades using the FortKnoxster coin, FKX Crypto Suite, which at first remains in beta, is complimentary of charge to utilize all functions in the Crypto Suite. A PRO upgrade offers, to name a few advantages, access to endless encrypted storage and calling.

Crypto Suite has a range of usage cases, and besides the above, it can likewise be utilized as a remittance app, as sending out crypto in the built-in messenger is both extremely simple and quickly. The FortKnoxster platform is a multi-device app that can be utilized both on mobile and web and can likewise be white-labeled to services.

FortKnoxster CEO & co-founder Niels Klitsgaard remarks: We are happy and excited to finally launch our one-stop crypto app, which solves a range of challenges most people in the crypto space are facing. With Crypto Suite, we help people store and manage their crypto assets but at the same time, we also safeguard their communications, data and privacy. Crypto Suite is an easy-to-use solution and addresses most crypto needs in one single app.

News Summary:

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FortKnoxster Introduces Its Encryption Suite with Built-in Security and More - Bollyinside - BollyInside

The Cloud Encryption Service Market report 2021 analysis offers business concepts to achieve and analyze the market size and competitive surroundings. The research elaborates through primary and secondary statistics sources, and it comprises both qualitative and quantitative detailing. This report covers valuable knowledge on exact facts concerning predominant factors and growth possibilities. It also offers a particular outlook of the Cloud Encryption Service market with the help of the competitive analysis of the major manufacturers and companies to gain revenue estimation and growth approaches for future business expansions. Moreover, the report provides details about the changing market trends, developments, technological innovations, and challenges that affect on Cloud Encryption Service industry.

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This Cloud Encryption Service market research report focuses on numerous stakeholders, players, and companies in the business. Top Listed Company Profiles in the report:

Thales e-Security, Gemalto N.V., Sophos Group plc , Symantec Corporation , Skyhigh Networks

Cloud Encryption Service Market Insights:

The global Cloud Encryption Service market research report provides compressive data of the current market, geographical regions, and sub-regions are worldwide. This report covers a comprehensive outlook on market size, regional sales, growth rate, global opportunities, and manufacturing costs in the respective regions. It provides detailed information on emerging trends, leading competitors based on the technology-oriented innovations to demonstrate the Cloud Encryption Service market growth and portfolio strategies. The Cloud Encryption Service market report provides in-depth data related to regional market performance and competitive landscape. To help clients make informed decisions about financial investment plans and growth strategies. Facts and data are well given in the report using charts, graphs, current market trends, dynamics, business scope, and key statistics.

Summary of the Report:

Impact of Covid-19 Analysis & Recovery:

Since the COVID-19 outbreak in December 2019, the disease has spread to almost every country around the globe. The outbreak of the COVID-19 pandemic has brought effects on many aspects like market supply chain, business investment confidence, growing panic among the population, and uncertainty about the future market expansion. The industry report discussed the technological advancements and growing platforms that are and will influence the progress of global regions.This study mainly helps understand which market segments or region or country they should focus in coming years to channelize their efforts and investments to maximize growth and profitability. The report presents the market competitive landscape and a consistent in depth analysis of the major vendor/key players in the market along with impact of economic slowdown due to COVID.

NOTE: Our report highlights the issues and uncertainties that companies might come acrosses due to the unusual outbreak of COVID-19.

Regional Landscape covers:

The Cloud Encryption Service market report gives market size estimates and forecasts in different countries. The report focuses on quantitative records with applicable qualitative insights.In addition, the report details the factors driving industry growth and the description of market channels. The Cloud Encryption Service market report begins with an overview of the industrial chain structure and describes the upstream.The report highlights the significant regions are:

Regional analysis of the Cloud Encryption Service market includes analysis of the production and consumption ratio, supply and demand dynamics, regional trends and growth drivers, growth prospects, presence of key manufacturers and vendors, and market size and share in key regions such as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. The report further offers key insights into country wise analysis and major factors driving revenue growth of each regional market.

The report solutions questions which includes:

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Cloud Encryption Service Market Size and Overview: 2021, Industry Share, Key Developments, Geographic Comparison, and Drivers till 2028 Bolivar...

These four sample policies can help you protect your data by ensuring it's properly encrypted, stored safely, only accessible by certain people, and securely backed up.

Image: Andriy Onufriyenko / Getty Images

It's been said we've gone beyond the information age and into the experience age, imagination age, fourth industrial revolution or one of a dozen other names for our current technological era. It doesn't matter what we call it, the underpinning of it all is still information and data.

There's an inconceivable amount of information being generated daily around the world, and some of it is incredibly valuable to the rightand wrongsorts of people. That's where having proper data security policies comes into play: You need them, full stop.

Protecting and securing data is more than just saying you'll do it, though: There are a lot of things to be considered when thinking about how to secure data. Is it encrypted at rest? What about in transit? Is the cloud service hosting your data storing it and securing it properly? Which users have access, and how are they managed? These four sample policies from TechRepublic Premium will help you answer some of those questions in your organization.

This policy covers what should be encrypted, how it should be encrypted, examples of how to enforce encryption policies, which software to use for full-disk encryption and more. This policy focuses on data at rest and stored on organization-provided hardware, like laptops, servers, mobile devices and other hardware.

Storing sensitive data in third-party cloud storage should at the very least raise the hairs on the back of your security team's collective neck: It's a risk, no doubt about it. Modern cloud providers have made security features part of their systems, but problems of regulatory compliance, loss of access, service outages and other problems make using the cloud a potential tinderbox.

This policy will help you choose the right cloud vendors, determine what can and can't be stored in the cloud, and how to handle other issues of access and security. It also covers how to handle the theft or loss of hardware with access to cloud services, and what to do to in order to better secure personal devices used for work.

People are often the weakest link in a security chain, and that includes the people you trust to manage organizational security. IT professionals need policies that cover how their access and privileges are assigned, managed, and monitored for violations. The policy covers access control for IT, as well as anyone else with administrator-level privileges on business systems.

Two words for you: Ransomware recovery. That phrase alone should clue you in as to why end user data backups are essential. Employees can often have important data stored on their work machines, and if access is lost due to device theft or malware infection there's a quick, easy choice if a backup has been made: Just restore the infected machine, or a new one, so the employee can go on working. This policy will help you establish guidelines for setting up an environment where backups are routine, expected, and reliable.

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Data and the policies that protect it: 4 essential plans to have in place - TechRepublic

What is encryption, and why is it important?

Encryption has become a controversial topic in the U.S., so if you're not sure what it is, listen up.Video provided by Newsy

Newslook

LANSING The Michigan Senate gaveapproval Tuesday to a bill that would ban the use on state-issued phones of text messaging encryption apps that can be used to evade the Michigan Freedom of Information Act.

The Senate approved House Bill 4778 in a 35-0 vote. A version of the bill earlier passed the state House with unanimous support. Because the wording of the bill was changed in the Senate, it must now return to the House for concurrence before it is sent to Gov. Gretchen Whitmer for her signature.

The bills sponsor, Rep. Steve Johnson, R-Wayland, told a Senate committee in September he saw the need for the bill after reading a series of articles in the Free Press about the use of Signal by top officials at the Michigan State Police.

Signal is an "end-to-end" encryption app, meaning it bypasses the state server and the company that provides the app keeps no record of the text messages sent. Once deleted, text messages sent using Signal are essentially gone without a trace evading both the Michigan Freedom of Information Act and legal discovery.

More: Lawmakers fired up over encryption app used by MSP that can evade Michigan FOIA

More: MSP director to officers: Remove text messaging app Signal from state phones

Thats a problem, said Johnson, who is chairman of the House Oversight Committee. It deletes the whole purpose of FOIA if you can permanently delete something.

The head of the MSP, Col. Joseph Gasper, in February told officers to remove the app from their phones.

The bill the Senate passed Tuesday wouldextend the ban to all state agencies.

The ban wouldnot apply to state lawmakers or their staff, since the Legislature is exempt from FOIA. It would also not apply to Whitmer or her staff, since the governor's office is also exempt.

Contact Paul Egan: 517-372-8660 or pegan@freepress.com.Follow him on Twitter @paulegan4.Read more on Michigan politics and sign up for our elections newsletter.

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Michigan Senate passes bill to end state use of text encryption apps that can evade FOIA - Detroit Free Press

On October 27, the Federal Trade Commission (FTC) announced a final rule (Final Rule), amending the Standards for Safeguarding Customer Information (Safeguards Rule) under the Gramm-Leach-Bliley Act (GLBA) as it applies to covered financial institutions. The Final Rule provides guidance on developing and implementing information security programs, such as access controls, authentication, and encryption. Notably, the Final Rule expands the definition of financial institution to include entities engaged in activities that the Federal Reserve Board determines to be incidental to financial activities now subject to the FTCs enforcement authority under the Safeguards Rule.

Expanded Definition of Financial Institution

The Final Rule expands the definition of financial institution to include entities engaged in activities that the Federal Reserve Board determines as incidental to financial activities. For example, an automobile dealership that, as a usual part of its business, leases automobiles on a nonoperating basis for longer than 90 days would qualify as a financial institution for its leasing business. The Final Rule explains, for this example, that leasing personal property on a nonoperating basis with an initial lease term of at least 90 days is a financial activity enumerated in the list of permissible nonbanking activities under 12 CFR 225.28 and referenced in the Bank Holding Company Act.

Additional examples of financial institutions that significantly engage in business incidental to financial activities include businesses that regularly wire money to and from consumers; retailers that extend credit by issuing their own credit cards directly to consumers; and check cashing businesses. A business only falls within the expanded definition of financial institution if it is significantly engaged in activities incidental to financial activities. For example, a retailer that accepts cash, check, or credit as a form of payment; a merchant that allows an individual to run a tab; and a grocery store that allows individuals to cash a check would not be considered to significantly engage in activities incidental to financial activities and therefore would not fall within the expanded definition.

By defining financial institution and enumerating examples, rather than incorporating by reference to the Privacy of Consumer Financial Information Rule (Privacy Rule) promulgated under the GLBA, the Final Rule allows readers to understand the requirements of the Safeguards Rule without having to refer separately to the Privacy Rule.

Requirements Under the Final Rule

Under the Final Rule, covered financial institutions which now include nonbank lenders, mortgage brokers, consumer reporting agencies, etc. will be required to develop, implement, and maintain a more comprehensive information security program. The information security program must be written and include, among other things, the following elements:

The Final Rule exempts financial institutions that maintain customer information concerning less than 5,000 consumers from the above requirements to implement a written risk assessment, conduct annual penetration testing and biannual vulnerability assessments, and to compel the Qualified Individual to report annually to the board of directors or equivalent governing body.

Effective Date

The new Safeguards Rule will become effective 30 days after the date of publication in the Federal Register, with certain exceptions. Notwithstanding the foregoing, the certain requirements will become effective one year after the date of publication in the Federal Register, including:

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FTC Amends Safeguards Rule for Covered Financial Institutions - JD Supra

BETHESDA, Md., Nov. 3, 2021 /PRNewswire/ -- Quantum Xchange, delivering the future of encryption with its leading-edge key distribution platform, today announced its membership with the Hudson Institute's Quantum Alliance Initiative (QAI), a consortium of companies, institutions, and universities whose mission is to raise awareness and develop policies that promote the critical importance of U.S. leadership in quantum technology, while simultaneously working to ensure that the nation's commercial businesses, government agencies, and digital infrastructure will be safe from a future quantum computer cyberattack by 2025.

The arrival of quantum computers is expected to break popular encryption methods, e.g., Public Key Encryption (PKE), widely used to protect nearly every aspect of digital life. Earlier this month, the U.S. Department of Homeland Security released guidance to help organizations prepare for the largest cryptographic transition in the history of computing with Secretary Mayorkas stating, "We must prepare now to protect the confidentiality of data that already exists today and remains sensitive in the future." Despite these early warnings, most U.S. businesses and federal agencies have taken a lax position, waiting for NIST to publish its post-quantum cryptography (PQC) standard before any action is taken.

"Government and business leaders don't fully recognize the urgency of the quantum threat or magnitude of the multi-year crypto migration problem it will require after NIST publishes the PQC standard," said Eddy Zervigon, CEO of Quantum Xchange. "As a quantum security trailblazer, with an enterprise-ready solution, we believe it's our duty to help raise awareness and arm cybersecurity professionals, and lawmakers, with the information needed to become stewards of change within their organizations conveying to leadership and the public the severity and immediacy of the quantum security threat. We are pleased to be a member of QAI and to advance this common agenda."

Quantum Xchange's radically reimagined approach to data encryption addresses the weaknesses of legacy encryption systems and the quantum threat at once. Using the company's groundbreaking out-of-band symmetric key delivery technology, Phio Trusted Xchange, leading businesses and government agencies can simply and affordably future-proof the security of their data and communications networks, overcome the vulnerabilities of present-day encryption techniques, and better protect against known and future attacks.

"Hudson's Quantum Alliance Initiative aims to transform how we think about quantum, the science and technology that will dominate the world's economies, security, and prospects for freedom," said QAI Director Arthur Herman. "Having Quantum Xchange as a member is a welcome addition to the international coalition we are building, to make sure America is quantum ready for the 21st century."

About Quantum Xchange Quantum Xchangegives commercial enterprises and government agencies the ultimate solution for protecting data in motion today and in the quantum future. Its award-winning out-of-band symmetric key distribution system, Phio Trusted Xchange (TX), is uniquely capable of making existing encryption environments quantum safe and supports both post-quantum crypto (PQC) and Quantum Key Distribution (QKD). Only by decoupling key generation and delivery from data transmissions can organizations achieve true crypto agility and quantum readiness with no interruptions to underlying infrastructure or business operations. To learn more about future-proofing your data from whatever threat awaits, visit QuantumXC.com or follow us on Twitter @Quantum_Xchange #BeQuantumSafe.

SOURCE Quantum Xchange

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Quantum Xchange Joins the Hudson Institute's Quantum Alliance Initiative - PRNewswire