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Voice biometrics demand to hit $2.8bn by 2024

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The global Voice Biometrics Market size is expected to grow from $984 million in 2019 to $2,845 million by 2024, equivalent to a Compound Annual Growth Rate (CAGR) of 23.7%

That’s according to a new report from MarketsandMarkets, which says the key factors driving demand include an increasing need for robust fraud detection and prevention systems across the Banking, Financial Services, and Insurance (BFSI) industry vertical and a need for reducing authentication and identification costs.

North America is expected to account for the largest market size in the Voice Biometrics Market by region during the forecast period. The region is home to many key vendors, such as Nuance Communications, Verint, and Pindrop.

APAC is expected to grow at the highest CAGR during the forecast period with increasing investments in strengthening security infrastructure. An increasing demand for cloud-based solutions from retail and eCommerce and healthcare verticals is expected to drive the Voice Biometrics Market in the region.

Overall, the report identifies the key market players as Nuance Communications (US), NICE (Israel), Verint (US), AimBrain (UK), Voice Biometrics Group (US), Phonexia (Czech Republic), OneVault (South Africa), SESTEK (Turkey), LumenVox (US), LexisNexis Risk Solutions (US), VoicePIN (Poland), Uniphore (India), Pindrop (US), Aculab (UK) and Auraya (Australia).

Physical security services market to hit $191.7bn

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The global physical security services market will expand at a CAGR of 11.7% by 2022 to reach $191.7 billion.

That’s according to the latest data from Transparency Market Research (TMR), which pegged the market at $110.3bn in 2017.

In its analysis, TMR says the physical security services market has a consolidative vendor landscape, with prominent players including Tyco International Limited, SECOM Company Limited, The ADT Corp, United Technologies Corporation, and STANLEY Convergent Security Solutions accounting for a lion’s share of revenue.

These players are adopting strategies based primarily on product innovations and new product launches.

Based on the type, the ACaaS segment dominated the global physical security services market and is expected to remain dominant in terms of revenue by accounting US$80.9 bn by the end of 2022.

Region-wise, North America dominated the global physical security services market and is expected to remain dominant over the forecast period from 2017 to 2022 by expanding at a 12.6% CAGR.

In general terms, TMR says the physical security services market is gaining traction due to the need for physical safety to mitigate and reduce crime and risks of the thefts.

Additionally, growing expenses for the physical safety of the infrastructure by organizations coupled with the growing adoption of the internet of things (IoT) devices are supporting growth.

Further, growing penetration of the cloud-based data storage and servers along with growing technological developments, mainly in video surveillance, are contributing toward faster growth of the global physical security services market.

Two thirds of employees don’t feel safe at work

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Only one in three workers feel safe in their own workplace due to steps taken by their employer.

A survey, commissioned by Expert Security UK, polled 2,000 people with the question ‘has your employer taken actions to ensure you feel safe in the workplace,’ with an overwhelming response of no.

And a further 62 per cent admitted that their employer had taken some steps, but not nearly enough to make them feel ‘safe’ within the working environment.

So, what is a safer working environment? Danny Scholfield, managing director, Expert security UK, has provided tips for employers to learn from…

1. Car park

If your business has one, then your car park will be the first point of contact for your employees and customers, so it’s essential that it is secure. One of the best ways to deter crimes outside is by improving visibility, so that means ensuring that pathways, doorways and entrances are well illuminated. Eliminate as many shadowy areas as possible as these are ideal spots for attackers to hide. Consider installing emergency phone lines in easy to reach places; employees will feel safer knowing they can access help quickly and easily. 

2. CCTV

Of course, one of the biggest deterrents when it comes to any criminal activity is CCTV. Knowing they are being watched and that any footage could be used to identify and prosecute them can be a powerful way to discourage people from acting maliciously. They can also be huge tools in helping staff members feel safe.

Start by installing good quality CCTV cameras at entrances, exits, gateways and doors. A poor quality camera may do the same in terms of acting as a deterrent, but in the event that you need to use the footage, it’s important that details can be seen clearly.

3. Your business premises

Your next step should be to protect the premises of your business. Where necessary and applicable, use gates and fences to secure potential entry points and ensure that you have strong locks and fob systems in place where only staff members can gain access. You could also consider installing motion detectors and alarms that not only sound locally but can alert the authorities if a breach is detected.

4. Online safety

In today’s online world, cybersecurity is also an incredibly important step to take when ensuring that your employees feel safe as so many threats now exist digitally. You might consider investing in a training course for your staff that goes over the basics of cybersecurity, such as phishing scams, how to tell the difference between secure and insecure connections, making sure downloads are safe from viruses, and using strong passwords.

5. Workplace harassment

It isn’t just outside threats that employers should be aware of. A great deal of harassment and bullying can go on inside the walls of your business, even if you don’t know about it. Even verbal bullying can create tension between staff members and, if left unchecked, it could escalate to physical violence.

Start by making strong policies against workplace harassment and bullying a top priority for your business’ security policy, whether that means writing new policies altogether or updating existing ones. Consider sending your management team to training seminars that focus on anti-bullying and equality in the workplace, as these are the people who often see problems first but don’t necessarily have the skills to tackle them. Make sure your final policies are communicated to all staff members so they are aware of them, know what to do in the event of an incident, and feel confident that you will support them.

If all five points are prioritised and actioned, it is a great starting point to ensuring your workforce are well looked after, feel safe and work happy, so that you don’t run the risk of having only 1 in 3 feel 100% safe.

60% of multinationals think their access control isn’t future-proof

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Nedap Security Management presented several key conclusions from its benchmark study at ASIS Europe 2019, including worrying feedback from business leaders when it comes to access control.

The study focuses on the access control challenges and opportunities faced by multinationals – both now and in the future.

One significant finding was that almost 60% of multinationals don’t (yet) consider their access control system to be future-proof.

The results were presented by Martin Wijlens and Timon Padberg, global client sales managers for Nedap Security Management.

Wijlens said: “Our benchmark study gives multinationals useful peer-to-peer insight into the status, challenges and opportunities of their access control systems. It zooms in on topics such as convenience versus danger, infrastructure and map technology.”

Padberg added: “Due to increasing globalisation and constant changes, the international standardisation of security aspects such as access control is becoming increasingly important. We support multinationals with concrete insights based on market research, and also alleviate their concerns, not to mention workload and stress, through our Global Client Programme.”

Gaps found in UK disaster recovery preparedness

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41% of UK businesses have either failed to test their disaster recovery (DR) systems in the last six months or don’t know when any sort of testing last took place.

A study by Proband revealed that surveyed UK businesses at director-level to understand their current perception of disaster recovery – and to evaluate how prepared companies are when it comes to backup restoration.

While the majority (92%) had some sort of DR solution in place, less encouraging was how few knew how effective those systems are and whether they are robust enough – with only two thirds (59%) carrying out regular tests.

Many companies’ approach to backup also offered a source for concern. Just 62% were sure they had any off-site backup capabilities. While only 39% said they would be able to restore on-site backups in under 24 hours, even if they could get new servers ready to accept that data. However, only 29% said they could get hardware to replace servers in that time frame. Meanwhile, just 29% said they could recover to the cloud, with 54% admitting they definitely couldn’t, and 17% saying they didn’t know.

Mark Lomas, technical architect at Probrand, said: ‘‘What’s clear from our research is that, for many companies, disaster recovery is shelfware, set up once and then rarely if ever tested or thought of again.

‘‘DR is a neglected, non-revenue generating component of many IT strategies, but the growing threats to enterprise data mean that this mindset needs to change.’’

One survey respondent even went as far as to say they ‘‘did not know how long the backup would take,’’ as they had never had to do it. This laisse-faire attitude is worrying when you consider that it costs businesses on average $5,600 per minute of downtime.

Lomas continues: ‘‘You wouldn’t install a fire alarm and then never test it – why should DR be any different? If businesses aren’t carrying out regular tests every 2-3 months then they have no way of knowing if their system is up to scratch and whether it’s going to leave the business – and its customers – experiencing downtime for a day, a week or even longer.’’

Full findings of the report can be viewed here  How to avoid Disaster Recovery becoming a disaster.

Global electronic access control market to hit $13bn by 2023

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The global electronic access control market will grow from $8.2 billion in 2017 to $13.3 billion by 2023, equivalent to a CAGR of 8.53% during the forecast period.

That’s according to the latest forecasts from Market Research Future, which includes all electromechanical hardware devices that used to limit access into any private premise in its calculations.

That definition encompasses systems that are used in several fields ranging from commercial space, government spaces and private residential space.

A rise in crime rates in key territories, and a growing need to limit individual premise access are cited as the key drivers for the market.

By type, the market is segmented into biometrics reader, card-based reader, multi-technology readers, electronic locks, and controllers.

The biometric reader market segment is estimated to hold the highest market share throughout the forecast period, and it is also expected to register the highest CAGR.

Market research Futures says these categories are more reliable as they provide benefits such as improved identification and authentication process, thereby increasing the access control to physical and electronic resources.

On the basis of application, the study was segmented into commercial spaces, military & defence, government, residential, education, healthcare, industrial, and others.

The forecasts predict the commercial spaces segment will dominate the market going forward, including data centres, banks, hotels, retail stores, malls, and similar other commercial premises.

The key players highlighted include ASSA ABLOY (Sweden), Johnson Controls International (Ireland), dormakaba Holding (Switzerland), Allegion (Ireland), Honeywell Security Group (US), Identiv (US), Nedap (Netherlands), Suprema HQ (South Korea), Bosch Security Systems (US) and Gemalto (Netherlands).

Asia-Pacific is estimated to register the highest CAGR during the forecast period. The growth in the region is attributable to factors including ongoing industrial development, rapid pace of commercialization, and rise in number of security systems implementation across varied commercial spaces.

Furthermore, the rise in crimes rates in the region and growing government spending to enhance security systems in their premises also drive the growth.

North America, however, is expected to dominate the electronic access control systems market from 2018 to 2023 as the region has a sustainable and well-established economy and it is among the early adopter of latest technology.

Furthermore, the presence of the leading manufacturers in the region further drive the electronic access control systems market there.

Physical security market worth $119.4 billion by 2023

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The Physical Security market is expected to grow from $84.1 billion in 2018 to $119.4 billion by 2023, equivalent to a Compound Annual Growth Rate (CAGR) of 7.3% during the forecast period.

The findings, published by MarketsandMarkets in its Physical Security Market report, found that the rising incidents of terror attacks, technological advancements and deployment of wireless technology in security systems, increasing use of Internet Protocol (IP)-based cameras for video surveillance, implementation of mobile-based access control, and adoption of Internet of Things (IoT)-based security systems with cloud computing platforms, has driven market growth.

Security systems integration is expected to lead the Physical Security Market in 2018. This involves the collective use of a variety of components or subsystems as one large system. System integrators provide solutions based on the size and complexity of the security to be provided. The demand for integrators of security systems is growing rapidly, owing to the deployment of diverse security strategies in organisations of all sizes across the globe.

The large enterprises segment is expected to hold the highest market share. These enterprises were the early adopters of physical security solutions and services, as they have larger revenue pool to spend and a larger infrastructure to be protected. Large enterprises need complex and highly scalable security systems and services in comparison to Small and Medium-sized Enterprises (SMEs).

These customers operate across multiple locations in different geographies, hence they require a solution, which offers elevated integration capabilities and is capable of large-scale seamless integration of security operations. In addition to the complexity and requirements, large enterprises are at high risk for breaches and other cyber and physical crimes. The combinations of the complexity and high risks require large systems that are fully integrated and can utilise the best and the most reliable technology.

Physical security systems and services play an important role in the retail vertical and security is one of the top priorities for retailers. In the retail vertical, it is crucial to ensure workplace safety, prevent business interruption, and avoid financial loss. The number of retail stores and malls in urban areas has increased drastically over the last few years. Investing in access control systems as a solution for security needs provide numerous long-term benefits, such as reduced retail losses, maximised store profits, lowered insurance rates, and most importantly decrease in the number of theft cases.

As per the geographic analysis, Asia Pacific and APAC regions iare predicted to grow with the fastest CAGR during the forecast period. Security systems are expected to witness increasing adoption in APAC as the countries in the region are emerging economies with a growing number of manufacturing bases, and there is also a constant risk of terror threats in the region.

The market in APAC has high growth potential, owing to the increased security concerns, especially in India and China, and governments in these countries have started investing heavily in security. Furthermore, emerging economies are working toward improving their infrastructure, which is further expected to lead to the high growth of the Physical Security Market.

The rising adoption of access control systems in SMEs, hospitality businesses, airports, ATMs, banks, residential buildings, and religious places, among others are expected to drive the Physical Security Market.

Half of UK IT directors would pay cyber-ransom to avoid GDPR fines

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A new study has revealed that almost half (47%) of UK IT directors would ‘definitely’ be willing to pay a ransom fee to hackers who stole their company data, rather than report a breach to the authorities and pay a larger penalty under the EU General Data Protection Regulation (GDPR).

The research, commissioned by Sophos, show a further 30% of UK IT leaders said they would ‘possibly’ consider paying the criminals’ ransom if it was lower than the possible penalty for a breach. Only one in five (18%) respondents completely ruled out paying off their attackers.

Small businesses were least likely to consider paying a ransomware demand
● More than half (54%) of IT directors at UK companies with fewer than 250 employees ruled out paying their attackers
● Just 11% of directors at companies with 500 – 750 employees said they would opt for this approach

UK IT directors are significantly more likely to pay than their counterparts in other Western European countries
● Of the five European countries studied, Irish IT directors were the least likely to pay. Just 19% said they’d ‘definitely’ be willing pay a ransom over a larger fine
● IT directors in France, Belgium and the Netherlands were also less likely to pay a ransom. 33% of respondents in France, 24% of those in Belgium and 38% of IT directors from the Netherlands said they’d ‘definitely’ be willing to pay

UK IT directors are the most confident that they are compliant with GDPR
● The research also showed that 46% of UK IT directors were confident that their organisations are fully compliant with GDPR rules
● This is more than the number of IT directors in the Netherlands (44%), France (37%), the Republic of Ireland (35%) and Belgium (30%) who were confident their organisations were fully compliant
● Just 13% of UK IT directors said they had tools in place to prove compliance in the event of a breach. Organisations in the Netherlands (27%), France (24%) and Belgium (20%) said they were slightly better prepared in this regard

Cloud services are a popular option for managing risk in data protection
● 67% of UK IT directors said they had increased their use of cloud computing as a direct result of GDPR

Adam Bradley, UK managing director at Sophos, said: “It is concerning to learn that so many UK IT leaders misunderstand the threat and consequences of even a minor data breach. Companies that pay a ransom might regain access to their data, but it’s far from guaranteed and a false economy if they do it to avoid a penalty. They still need to report the breach to the authorities and would face a significantly larger fine if they don’t report it promptly.”

‘It is surprising that large companies appear to be those most likely to pay a ransom. It is a mistake for companies of any size to trust hackers, or to expect that they’ll simply hand the data back. Our advice? Don’t pay the ransom, do tell the authorities promptly and make sure you take steps to minimise the chances of falling victim again.

“The best way to avoid paying is to stay one step ahead of the cybercriminals. Hackers tend to rely on phishing emails, unpatched software and remote access portals to gain access, so make sure your systems and people are able to spot the signs of attacks. Patch early and patch often, and secure remote access points with proper passwords and multi-factor authentication.”

Sapio Research interviewed 906 IT directors and managers about their experiences of cybercrime and approaches to cyber security. The interviews were conducted online, primarily with IT decision makers working in companies with between 240 and 750 employees in Belgium, France, Ireland, Netherlands, UK and the Republic of Ireland.

Business security issues to increase with climate change

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Capital expenditure for resilience measures to ensure business continuity due to extreme weather conditions such as floods and heatwaves need to be considered as best practice, according to the Environment Agency’s ‘Climate Change Impacts and Adaptation’ report.

Chair of the Environment Agency, Emma Howard Boyd, said it was worrying that few FTSE boards are disclosing the strategic risks to their shareholders brought by the physical impacts of climate change.

“The UK18 projections are further evidence that we will see more extreme weather in the future – we need to prepare and adapt now, climate change impacts are already being felt with the record books being re-written,” said Boyd.

“It is not too late to act. Working together – governments, business, and communities – we can mitigate the impacts of climate change and successfully adapt to a different future.

“The Environment Agency cannot wall up the country, but we will be at the forefront – protecting communities, building resilience, and responding to incidents.”

Rising temperatures and the impact on infrastructure, along with the security measures needed in place to cope with the demands of climate change, are a real threat.

UKCP19 projections, developed in conjuncture with the Environment Agency, show summer temperatures could be up to 5.4C hotter by 2070 depending on global emissions of greenhouse gases over the coming decades, along with sea levels rising by up to 1.15 metres in London by 2100.

Climate change and immediate risks to national security have long been accepted, with Governments world-wide boosting security measures in readiness of rising sea levels, increase in natural disasters and an increase in infectious disease and terrorism as a direct cause.

CEO Phone

75% of CEOs using unapproved programs and applications

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A study by data security experts Code42 has revealed that 75% of CEOs admit that they are using applications and programs that are not approved by their IT departments, playing a game of chance with critical corporate data.

Despite the known risks facing organisations today, such as data breaches, business decision makers (BDMs) and CEOs are putting critical data at jeopardy, according to the report.

Three quarters of CEOs and more than half (52%) of BDMs admit that they use applications/programs that are not approved by their IT department. This is despite 91 percent of CEOs and 83 percent of BDMs acknowledging that their behaviours could be considered a security risk to their organisation.

IT decision makers (ITDMs) say that half (50%) of all corporate data in the enterprise is held on laptops and desktops, instead of in the data centre or centralised servers. In the U.S., this rises to as much as 60%.

Simultaneously, the significance of this data to the productivity and security of the business is well understood at the top of the organisation — with 63% of CEOs stating that losing this data would destroy their business. But, awareness of the risk is doing little to change adherence to proper security practices.

“Modern enterprises are fighting an internal battle between the need for productivity and the need for security—both of which are being scrutinised all the way to the CEO,” said Rick Orloff, VP and CSO at Code42. “By using unauthorised programs and applications, business leadership is challenging the very security strategies they demanded be put in place. This makes it clear that a prevention-based approach to security is not sufficient; recovery must be at the core of your strategy.”

www.code42.com