WhiteHawk advances its Cyber Risk Program as major hacks increase

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Published 21-DEC-2020 09:28 A.M.

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4 minute read

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WhiteHawk Limited (ASX:WHK) has advanced its industry leading Cyber Risk Program, in response to recently increased requirements of the CFR (Treasury, the Reserve Bank, APRA and ASIC), which oversees banks, insurers and super funds.

The changes will allow Australian financial institutions to ensure the safety of their own internal systems and the systems of the Australian businesses they service.

Response times will now also be much quicker.

WhiteHawk is the first global online cyber security exchange enabling small-to-medium businesses to take smart action against cybercrime, fraud and disruption and has addressed all key criteria set out by the CFR.

The WhiteHawk Cyber Risk Program will:

  1. Provide data and information to inform relevant Australian Regulators of systemic weaknesses that may present a risk to the integrity of the Australian financial markets and financial system.
  2. Assess Financial Institution’s (FI) resilience to known adversaries targeting the FI.
  3. Provide the relevant Regulator and FI with a plan of remediation to address any identified weaknesses.

As an online, globally accessible Cyber Risk identification, prioritisation and mitigation platform, it is imperative for WHK to meet current standards, whilst continuing to improve its own.

As such, the company has now made significant advancements to its website, Cyber Risk Program and Scorecard Product Lines. This allows for better customer online experience as well as the ability to effectively scaling its services. Highlights of the changes include:

  • Now clients can easily review, understand and connect to WhiteHawk key Hacker View SaaS product lines to include: Cyber Risk Program, Cyber Risk Radar and Sontiq/WH Business Risk Suite.
  • The Customer Journey to identify key Digital Age risks to revenue and reputation is now completely interactive and shareable between the business client and WHK’s cyber consultant, resulting in a seamless ability to tailor an online account, establish a cyber resilience maturity model, get mapped to best practices and standards, to include the new US Federal Government mandated Cybersecurity Maturity Model Certification (CMMC), which portends to become a US national and potentially global new achievable standard.
  • In addition to the online account, clients receive a tailored and now 100% automated comprehensive report, the Cyber Risk Scorecard, noting key risks and areas of focus, mapped to solution options. A report that is both shareable and establishes their Cyber Risk Baseline, being updated on a quarterly, annual or as needed basis.
  • Navigating the online cyber security marketplace is more intuitive and comprehensive, now including splash pages for Enterprise Solutions, Training and Education, Vendor of the Month, advancing the marketing and sales of WhiteHawk’s 180+ Innovative Partners.

Terry Roberts, Executive Chair of WhiteHawk, commented, “Whitehawk remains committed to delivering the most comprehensive marketplace of Cybersecurity online and SaaS services to businesses internationally and invites all Australian businesses to partner with us to make the future of Australian business more secure for each and every one of us. Thanks to our Chief Product Officer, Soo Kim and her highly capable Development and Data Science in-house team, we have achieved our original vision of being able to seamlessly service any company or organization, to mitigate their cyber risks smartly, affordably and continuously.”

Upgrade comes at an important time

WHK's advancements come at a time when cyber threats seem to be increasing every day.

We reported recently about the FireEye hack and just last week another major attack occurred.

Microsoft admitted on Thursday that it had been breached.

The Australian Financial Review reports this "is quickly turning into the most sweeping cybersecurity crisis on record".

The attack could be part of an overarching espionage scheme against the US government, its critical infrastructure and private sector.

The US department of energy was also breached.

Perhaps the most frightening of the recent hacks is that of Texas-based IT group, SolarWind, which has compromised thousands of businesses and government agencies.

Bloomberg reports, "Hackers likely in Russia’s employ accessed the networks of the National Nuclear Safety Administration and thousands of other government agencies and companies back in March, using a backdoor built into SolarWinds cybersecurity software. They’ve been lurking there ever since, gathering data and learning vulnerabilities. The havoc this could wreak is almost unimaginable."

In light of these attacks, cybersecurity efforts need to be increased.

As such, WHK's commitment to delivering the most comprehensive marketplace of Cybersecurity is more important than ever.



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