Cybersecurity firm Radware has launched Cloud Malware Protection Service which company claimed has been built to detect, alert and block upon evasive zero-day malware that elude existing anti-malware defenses and steal data. Radware, new cloud service includes audit tools that continuously test the user’s network for gaps in its malware protections, as well as real-time reporting to help organisations comply with the notification requirements under EU GDPR and other regulations focused at private data protection, said cybersecurity firm. The Cloud Malware Protection Service is a cloud-based service that does not require any installation of software or hardware.
According to Radware, its Cloud Malware Protection Service relies on traffic analysis to detect communication anomalies indicative of evasive zero-day malware activity by leveraging advanced machine learning, AI, big data analysis, and community users to identify and block malicious traffic that is consistent with data theft.
“Businesses today need solutions that can identify and respond to new malware as they emerge in order to better protect organiSations and their customer data,” stated Haim Zelikovsky, Vice President of Radware’s Cloud Security, adding that their new service adds a new layer of malware detection and mitigation.
Quoting Verizon’s 2017 Data Breach Investigations report, Radware said, zero-day malware is notorious for evading detection, and more than half (51%) of data breaches involve the use of malware. The average data breach costs companies $3.6 million in damages, according to the 2017 Cost of Data Breach Study from Ponemon Institute, and a single breach could cost organizations many millions of dollars in damages and immeasurable reputational damage.
Radware said it research shows that half of all malware circulating today is classified as a zero-day malware, not recognized by existing known signatures or access control lists. These malwares often slip past anti-malware defenses and may reside undetected in a network for months, while hackers exploit the network and look for sensitive data.
Radware said that regulatory agencies in the U.S. and EU have passed laws to make companies work harder to prevent the loss of Personally Identifiable Information (PII). New rules in the EU are especially stringent. Under the EU General Data Protection Regulation (GDPR), any company that controls private information of EU entities must have in place tight security controls to protect that data, and must notify authorities of any data breach within 72 hours of discovery. That notice must include the number of people affected, the categories of PII lost, and what the company is doing to stop the attack or halt its effects.
“Modern malware is built to evade commonly employed cyber defenses. Using big data cloud platform together with machine learning and AI allows us to provide a new level of protection.” said David Aviv, Chief Technology Officer at Radware. “We intend to continue leveraging these technologies to further entrench Radware as a leading security company.”