Cybersecurity solution rolled out

Cybersecurity solution rolled out

Cyber Elite, Menlo Security join forces

From left are Stephanie Boo, vice-president for Asia Pacific of Menlo Security; Amir Ben-Efraim, chief executive and co-founder of Menlo Security; Supakorn Kungpisdan, managing director of Cyber Elite; and CK Mah, Southeast Asia regional director for Menlo Security, at the partnership agreement signing ceremony between the two companies.
From left are Stephanie Boo, vice-president for Asia Pacific of Menlo Security; Amir Ben-Efraim, chief executive and co-founder of Menlo Security; Supakorn Kungpisdan, managing director of Cyber Elite; and CK Mah, Southeast Asia regional director for Menlo Security, at the partnership agreement signing ceremony between the two companies.

Cyber Elite, a subsidiary of digital solutions provider Benchachinda Group, has enlisted the cybersecurity power of Menlo Security Inc to launch the first managed cloud cybersecurity platform in Thailand to strengthen enterprises' cyber defence.

"We would like to provide simplified cybersecurity for customers to enable them to protect, detect and respond to cyberthreats, which can serve different customer budgets with reasonable prices through subscription models," said Supakorn Kungpisdan, managing director of Cyber Elite.

The launch of the managed cloud cybersecurity platform in partnership with the US-based Menlo Security will support customers' cybersecurity with flexibility, he said.

Thailand has recorded Asean's strongest growth in the cloud security market, and the synergy will drive both partners to become a market leader in this field, Mr Supakorn said.

"This partnership is one of our strategic moves that can support our 1-billion-baht revenue target by 2024," Mr Supakorn said. "Cyber Elite aims to provide services to overseas markets next year."

COMPREHENSIVE SECURITY PLATFORM

According to Mr Supakorn, it is vital to create business partnership especially with those who can provide a comprehensive security platform covering protection, detection and response to cyberthreats.

This cybersecurity power can be combined with Cyber Elite's managed security services expertise that can help organisations manage their cybersecurity investment and operational costs with confidence, he said.

The managed cloud cybersecurity platform serves demand of businesses at all sizes.

"Onboarding to the service is simple in that customers can connect to Cyber Elite's cloud and they will instantly be protected from cyberthreats while accessing the internet," Mr Supakorn said.

Cyber Elite also has strong cybersecurity professional teams within Cybersecurity Operations Centre to provide the services around the clock, he noted.

TAILOR-MADE SERVICES

CK Mah, the regional director of Menlo Security for Southeast Asia, said the company provides a military-grade 100% air-gap security platform, while Cyber Elite is a cybersecurity enabler with expert teams and know-how in the local market.

"This mutually beneficial partnership can deliver tailor-made security service approaches for customers of all sizes and different security maturities," Mr Mah said.

Since the war in Ukraine broke out, Menlo Lab has detected three times more cyber-attacks taking place.

In the new normal where people work remotely with many devices connected with enterprises' network online, there has been a rise of cyberthreats.

According to the Interpol Cyber Threat Assessment 2021, 2.7 million instances of ransomware were detected in Asean during the first three quarters of 2020, with Thailand ranking the third highest. In addition, Thailand accounts for the largest banking malware attacks in Asean, which rose last year by over 25%.

THREAT PREVENTION

Menlo's patented "Isolation" technology, which supports a zero-trust approach, can prevent threat actors from accessing end devices, much less infecting them, Mr Mah said.

Isolation works by providing a protective layer around users as they navigate the web, effectively creating a virtual air gap between the internet and enterprise networks.

By coupling this with zero-trust approaches, both known and unknown potentially malicious activity is blocked, ensuring that attackers never gain a foothold and, therefore, malware and ransomware have no avenue for reaching endpoints and it is not slowing down the performance of the network, he said.

One statistic shows 90% of cybersecurity breaches come from attacks through the internet and emails.

Isolating all emails and internet traffic can help reduce up to 90% of the attack surface. "That is why we offer US$1 million malware warranty and, so far, no customers have been infected," said Mr Mah.

Menlo Security has earned trust from eight out of the top 10 global banks and many governments which use its service, including the US Department of Defense, he said.

ENSURE COMPLIANCE

Amir Ben-Efraim, chief executive of Menlo Security, said people are now more connected than ever in the new normal, but this also means the risk of cybercrimes and threats is high.

The cloud cybersecurity platform would be suitable for online protection in countries in Asean where the growth rate of cybersurveillance is high, he said.

"We are constantly seeking to find the right security partner and work closely with Cyber Elite to bring this security vision to all Thai businesses," he said.

According to Mr Supakorn, regulatory requirements are a key driving force for cybersecurity in Thailand as enterprises need to ensure compliance and attain the required standard, which raises the bar of cyberdefence.

Cyber Elite plans to offer its services by focusing on fast-growing companies and those under the supervision of regulators in Thailand, such as the Office of the National Broadcasting and Telecommunications Commission, the Office of the Securities and Exchange Commission, the Bank of Thailand, and the Office of Insurance Commission, as well as companies in the Eastern Economic Corridor.

It is also gearing up to serve small and medium-sized enterprises to enable them to achieve compliance and make them secure, as they are the backbone of the country's GDP, Mr Supakorn said.

"With the surge of Web 3.0, the decentralised world, blockchain and cryptocurrencies, many connected devices from users need to be secured," said Mr Supakorn. "This is the right time for us to serve customer needs."

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