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HITRUST Announces Continuous Assurance through the Proven HITRUST Ecosystem

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Releases 2025 Vision to Increase Security Sustainability and Outcomes through Continuous Control Monitoring

FRISCO, Texas, Oct. 1, 2024 /PRNewswire/ — HITRUST, the leading provider of information risk management, security, and compliance assurance, today announces HITRUST Continuous Assurance – the latest strategic evolution based on the proven HITRUST ecosystem. As organizations continue to balance the cost and complexity of security and compliance monitoring with the need to achieve security outcomes, a systematic and efficient approach for continuous assurance is essential. Security threats are not static and the need to efficiently reduce evidence decay and continually ensure that security requirements remain relevant and reliable is vital given the evolving threat landscape.

HITRUST Announces Continuous Assurance through the Proven HITRUST Ecosystem

“The traditional overhead and a growing number of new, proprietary and inefficient approaches trying to speed up outdated practices must fall to the side to improve cybersecurity outcomes without burdening vital services across multiple industries,” said Robert Booker, Chief Strategy Officer, HITRUST during his keynote at HITRUST Collaborate conference. “Approaches that prioritize compliance over security are understandable in highly regulated industries but are unfortunately short-sighted and part of the problem and not the solution.”

Legacy approaches do not build on a proven foundation of relevant controls, do not keep up with cyber threats, do not enable cybersecurity insurance risk underwriting as they lack provable security outcomes and validation, or assurance based on quality, transparency, and integrity. The advent of transformative technologies such as generative AI make this an even more challenging problem with new threats and vulnerabilities to overcome.

Evidence decay has always been a problem for governance systems based solely on auditing and HITRUST has largely mitigated that risk through its comprehensive and centralized quality system, rapid-recertification requirements, and the validation of policies and procedures that underpin security outcomes. In addition, the HITRUST system is built on a maturity model that encourages organizations to seek higher levels of security maturity including measurement and management of security requirements.

Continuous Assurance is possible on top of the proven HITRUST ecosystem that has successfully validated and certified thousands of systems serving multiple industries. After 15 years, HITRUST continues to demonstrate high levels of success as show by the 2024 HITRUST Trust Report where 99.4% of current HITRUST certifications, including organizations of varying sizes in many industries, did not report a breach over the past two-year period (2022 and 2023) while operating in one of the most aggressive cyber-attack environments in history. This success is enabled by the combination of the HITRUST CSF alongside a required methodology that assesses control maturity using an innovative PRISMA-based control scoring model and backed by thousands of qualified and independent assessors globally – all monitored by the centralized HITRUST quality assurance system.

“HITRUST certification at the r2 level requires a solid foundation of policy, procedures and controls implementation which provides a higher level of assurance based upon direct rather than circumstantial evidence”, said Bimal Sheth, EVP of Standards Development and Assurance Operations, HITRUST. “HITRUST is building on this proven framework as the foundation for Continuous Assurance.”

Continuous Assurance Elements:

Continuous Assurance goes the last mile – enabling integration with technologies that provide security control measurement and management. The result is unprecedented levels of assurance by minimizing evidence decay through monitoring of key assurance evidence and security telemetry on a continuous basis – all designed to detect or avoid drift in an organization’s control posture. Multiple existing and planned capabilities make Continuous Assurance possible:

Continuous Monitoring Taxonomy through the Next Generation HITRUST CSF: Control requirements require different approaches to continuous assurance to ensure relevancy and reliability of security maturity oversight. The identification of control requirements categories suitable for continuous assurance will be supported in the Next Generation of the HITRUST CSF, rolling out in phases beginning in 2025, starting with HITRUST CSF v12.Continuous Monitoring Workflow Enhancements: The HITRUST MyCSF will contain new workflow capabilities that allow assessed entities to publish evidence updates and seek validation of evidence of continued control sustainability. Inspection and approval will vary by control category and the system will support the relationships and workflow needed to analyze submitted evidence and confirm that it is both suitable for the control requirement and the underlying scope of the certification. Depending on the rigor and importance of different control requirements, External Assessors will be needed to examine and validate security outcomes and will be vital contributors to Continuous Assurance outcomes.Automated Evidence Collection: HITRUST’s existing Automated Evidence Collection capability supports integration with assessed entities existing technology and compliance frameworks. These services provide an important foundation by providing the baseline of evidence used for security and compliance assurance while reducing cost and complexity.Continuous Outcome Inspection: New HITRUST services will be available beginning in late 2025 that allow qualified service providers and technology suppliers to demonstrate proven fidelity, integrity and sufficient integration capabilities to HITRUST that inform security maturity scores and prove that security requirements remain achieved through their systems. Selected, qualified, and leading cloud service providers and security technology providers will provide these services all delivered on top of the robust and existing shared responsibility and inheritance capabilities provided by HITRUST.Results Distribution System: HITRUST’s existing digital platform enables the seamless distribution and integration of assessment and certification results, corrective action plans (CAPS), and status updates – eliminating reliance on PDF reports and allowing for electronic examination of security outcomes plus analysis of individual maturity metrics, and monitoring of remediation commitments on demand and with higher fidelity.Governance, Risk and Compliance Integration: HITRUST assessment results and assurance outcomes may now be integrated directly into supporting third-party risk management and GRC systems, ensuring faster and more accurate analysis, quicker remediation, and increased transparency, including vital Third-Party Risk Management, workflow support with improvements in efficiency, and clear and traceable documentation. 

The HITRUST Continuous Assurance system, by design, will support both systemic control monitoring through Continuous Outcome Inspection and the collection of security artifacts with validation workflows that prove conformance with required policies and procedures. Mature and complex systems will likely require a combination of automated and artifact-oriented forms of security monitoring to ensure that policies and procedures remain relevant.

Building on a Proven Ecosystem:

Continuous assurance is only achievable when delivered on top of a proven ecosystem. Over the past 15 years, HITRUST has built the ecosystem ready to deliver Continuous Assurance including:

Broad Assessment Portfolio: HITRUST offers a comprehensive range of assessment options that cover varying levels of assurance. This allows organizations and relying parties to align their risk management efforts with Threat and Adaptive Control Selection that is continuously updated as threats evolve.Cyber Threat Adaptive Controls: The HITRUST CSF is continuously updated as new cyber threats are identified and in response to active threats. This ensures organizations are continually considering the changes needed to manage their risks and sustain the required protections from the security system. Assurances only remain valid if they are implementing the correct security requirements to address present threats.Assurance Quality Management: a centralized, proven and transparent approach to quality assurance that includes examination, testing, and validation of security evidence by trained and qualified external assessors. Quality standards are published and are appropriately measured, tested, and validated first by external assessors and then by HITRUST. This ensures that the security outcomes and the resulting certification are transparent, scalable, consistent, accurate and demonstrate the integrity required by relying parties including regulators.Inheritance and Shared Responsibility: In many cases, security controls may be inherited from service providers such as Cloud Service Providers and now AI Service Providers. This capability allows assessed entities to rely on those service providers to provide components of the security fabric based upon the validation and certification of their services or to share responsibility for controls. Continuous Assurance will support the inheritance and shared responsibility of controls in appropriate use cases.

Powered by Platform Integrations:

HITRUST Continuous Assurance is building on an expanding network of integration capabilities from recognized platform and service providers. These integrations will streamline the process of managing information and cybersecurity risks and allow customers of the HITRUST ecosystem to integrate Continuous Assurance capabilities from multiple suppliers as available.

Delivering Proven Outcomes:

HITRUST Continuous Assurance delivers on top of a rich and proven maturity model. However, breaches and disruptions to services from cyber events still occur and Continuous Assurance will provide even higher security outcomes and greater levels of assurance. “The information obtained from monitoring controls in a continuous manner can help organizations continually assess the state of their information security controls and subsequently the amount of additional residual risk the organization may be incurring. Introducing more continuous, or ongoing approaches over point-in-time assessments and control gap analysis increases the fidelity of ongoing, risk-based decisions and improves cybersecurity outcomes”, said Dr. Bryan Cline, Chief Research Officer, HITRUST.

Stay Informed: 

Stay informed about Continuous Assurance here

About HITRUST

HITRUST, the leader in enterprise risk management, information security, and compliance assurances, offers a certification system for the application and validation of security, privacy, and AI controls, informed by over 50 standards and frameworks. The company’s threat-adaptive approach delivers the most relevant and reliable solution, including multiple selectable and traversable control sets, over 100 independent assessment firms, centralized quality reviews and certification, and a powerful SaaS platform enabling its program and ecosystem. For over 17 years, HITRUST has led the assurance industry and today is widely recognized as the most trusted solution to establish, maintain, and demonstrate security capabilities for risks management and compliance.

To learn more about HITRUST, go to: www.hitrustalliance.net

For media inquiries, please contact:
Leslie Kesselring
Kesselring Communications for HITRUST
leslie@kesscomm.com
503-358-1012

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SOURCE HITRUST Services Corp.

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Trend Micro launches AI-powered app to help combat Singapore’s growing scam problem

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New mobile app for consumers addresses rising concerns as more than 4 in 5 Singaporeans worry about family members falling victim to scams

SINGAPORE, Oct. 2, 2024 /PRNewswire/ — Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global leader in cybersecurity, today announced the launch of Trend Micro Check, a multi-featured mobile app uniquely designed to help consumers identify potential scams and growing AI threats such as deepfakes. Trend Micro’s one-of-a-kind AI-powered solution allows consumers to submit content such as messages, ads, or social media posts to help them quickly determine if it can be trusted or not, and will also help them verify if a live video call is a deepfake.

Tim Falinski, VP Consumer Business, AMEA at Trend: “Scams are at the top of the list of online threats to consumers, and AI has made it easy for cybercriminals to scam innocent people. While they take advantage of new technology to cause harm, we do the opposite. We are leading the race against these threats and working tirelessly to stay ahead of them with our own AI capabilities.”

Scams have been a growing problem in Singapore, with victims losing S$651.8 million last year. A recent Trend Micro study of 1,020 Singaporean consumers revealed that 68% of respondents believed the volume and risk of online scams have gotten worse over the last year, and 85% stated they were worried a family member might become a victim of an online scam. In addition, 97% of consumers said they would take action if it would help protect themselves, their families, and others from the work of scammers. 

While 69% of respondents said they were somewhat or very confident they could identify online scams, 74% said they would still use an app that could help them quickly verify if an email, social media post, online ad, text message, or phone number was a scam.

“With more than $1 trillion lost by consumers worldwide to scams last year, more must be done to protect them” said Jorij Abraham, Managing Director of the Global Anti-Scam Alliance. “As our first Foundation Partner, Trend Micro is clearly committed to stopping this problem by delivering tools like the AI-powered capabilities in Trend Micro Check, and by supporting and participating in the important work we do. We applaud Trend’s dedication to this cause and their technical leadership in using AI against the misuse of AI.”

Online scammers have been successful in part because AI tools allow them to create deceptive content that in turn elicits an emotional response from consumers. With a tool like Trend Micro Check, consumers can proactively block scams before seeing them, receive real-time alerts about scams before they can do harm, and most importantly, easily and instantly verify if something is a scam before they can be deceived by it. The app offers a powerful and unique set of features including:

•  Scam Check: AI-powered tool providing real-time assessment of the likelihood that content (e.g. social ad, text or email message, website URL or more) is a scam. The tool returns an easy-to-understand summary of the potential security concerns, along with recommended actions.
•  Deepfake Scan: Identifies potential AI “face-swapping” scam attempts during live video calls.
•  SMS Filter: Automatically filters out spam and scam text messages before it hits the inbox.
•  Web Guard: Blocks risky websites and filters out suspicious ads.

Trend Micro Check is now available to download for iOS and Android devices in select countries. For additional details about Trend Micro Check, including device requirements and feature and language availability, visit https://www.trendmicro.com/tmcheck.

As part of its mission to fight back against online scams, Trend Micro will also be Chairing the Cybersecurity Scam Prevention and Investigations track at the Global Anti-scam Alliance Summits in Singapore on October 21-22, and in Washington D.C. on November 12-13, 2024. For more information or to register for the summits, visit: https://www.gasa.org/all-events.

About Trend Micro 
Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro’s AI-powered cybersecurity platform protects hundreds of thousands of organisations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, Trend’s platform delivers a powerful range of advanced threat defense techniques optimised for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 70 countries, Trend Micro enables organisations to simplify and secure their connected world. www.TrendMicro.com.

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SOURCE Trend Micro

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ROSHI Unveils Comprehensive Report on the Future of Digital Lending, Highlighting Global Trends for 2025 and Beyond

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SINGAPORE, Oct. 2, 2024 /PRNewswire/ — Singapore-based fintech ROSHI has released an extensive report analysing the future of digital lending, focusing on global trends expected to shape the industry in 2025 and beyond. The report provides in-depth insights into the transformative impact of technology on the financial sector particularly in lending practices.

The report reveals significant growth projections across various sectors of digital lending. AI-powered lending models are enhancing credit risk assessment, potentially improving performance by 10-15% compared to traditional models. The global peer-to-peer lending market is expected to experience substantial expansion, with projections indicating it will surpass US$705.81 billion by 2030, growing at a CAGR of 26.7% from 2022 to 2030.

Decentralised Finance (DeFi) emerges as a major trend with the market valued at USD 13.61 billion in 2022 and expected to expand at a CAGR of 46.0% from 2023 to 2030. The report also highlights the growing influence of open banking, noting that by January 2024, 13% of digitally active consumers in key European markets were using open banking services.

Overall, the digital lending platforms market is set for significant growth with projections indicating it will reach a valuation of USD 795.34 billion by 2029, growing at a CAGR of 11.90%.

“Our analysis reveals that the lending landscape is undergoing a profound transformation driven by AI, blockchain and open banking technologies,” stated Amir Nada, ROSHI Founder and CEO. “While these advancements offer unprecedented opportunities for both lenders and borrowers they also present new challenges in terms of regulation and data security.”

The report also explores the rise of green loans, the impact of personalization on lending practices and the regulatory challenges facing the industry. This comprehensive view aims to provide valuable insights for financial institutions, policymakers and consumers alike.

ROSHI continues its mission to offer transparent, data-driven insights to help stakeholders navigate the complex and rapidly changing landscape of digital lending. The full report can be accessed here.

ROSHI is a Singapore-based fintech transforming digital lending across Southeast Asia. Since its launch in March 2022, the fintech has leveraged AI algorithms and machine learning to assist borrowers with their lending requirements. Through partnerships with various banks and lenders the platform has helped hundreds of individuals secure approvals.

Contact Information

Amir Nada
ROSHI Pte Ltd
Singapore, SG
Voice: +65 8950 9286
E-Mail: media@roshi.sg
Website: https://www.roshi.sg/

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SOURCE ROSHI

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Oracle to Invest More Than US$6.5 Billion in AI and Cloud Computing in Malaysia

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Oracle plans to open a cloud region in Malaysia, including 150+ infrastructure and SaaS services, to help boost the country’s digital economy and drive AI-fueled innovation  

Organizations across Malaysia can accelerate AI innovation with Oracle Cloud Infrastructure’s high performance and built-in security, powerful data, and distributed cloud capabilities

Upcoming cloud region to extend OCI’s footprint in Asia Pacific to 12 public cloud regions

AUSTIN, Texas and KUALA LUMPUR, Malaysia, Oct. 2, 2024 /PRNewswire/ — To meet the rapidly growing demand for its artificial intelligence (AI) and cloud services in Malaysia, Oracle today announced plans to invest more than US$6.5 billion to open a public cloud region in the country. The upcoming cloud region will enable Oracle customers and partners in Malaysia to leverage AI infrastructure and services and migrate mission-critical workloads to Oracle Cloud Infrastructure (OCI).

The planned public cloud region will help organizations in Malaysia modernize their applications, migrate all types of workloads to the cloud, and innovate with data, analytics, and AI. Customers can have access to OCI Generative AI Agents with retrieval-augmented generation (RAG) capabilities; accelerated computing and generative AI services to help keep sovereign AI models within country borders; and OCI Supercluster, the largest AI supercomputer in the cloud—orderable with up to 131,072 NVIDIA Blackwell GPUs with NVIDIA ConnectX-7 NICs for RoCEv2 networking or NVIDIA GB200 NVL72 rack solutions using liquid cooling and NVIDIA Quantum-2 InfiniBand networking. In addition, 150+ services, including Oracle Autonomous DatabaseHeatWave MySQL Database ServiceOracle Cloud VMware Solution, OCI Kubernetes Engine, and Oracle Fusion Cloud Applications Suite will also be available, offering customers infrastructure, platform, or SaaS services.

“We warmly welcome Oracle’s US$6.5 billion investment in Malaysia, which represents yet another expansion of their 36-year footprint in Malaysia,” said YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, minister of investment, trade and industry (MITI), Malaysia. “This investment will empower Malaysian entities, especially small and medium-sized enterprises, with innovative and cutting-edge AI and cloud technologies to enhance their global competitiveness. It is also a significant step towards realising the country’s New Industrial Master Plan’s ambitious vision of creating 3,000 smart factories by 2030. Oracle’s decision to establish a public cloud region in Malaysia underscores Malaysia’s infrastructure readiness, and its growing position as a premier Southeast Asian destination for digital investments.” 

Malaysia offers unique growth opportunities for organizations looking to accelerate their expansion with the latest digital technologies,” said Garrett Ilg, executive vice president and general manager, Japan & Asia Pacific, Oracle. “Our multi-billion dollar investment affirms our commitment to Malaysia as a regional gateway for cloud infrastructure as well as a comprehensive suite of SaaS applications deployed within Malaysia.”

“Rapidly growing demand for AI services prompts calls for more data centers that store large amounts of data and computational power to train and deploy AI models,” said Franco Chiam, vice president, cloud, data center and future digital infrastructure, Asia Pacific, IDC. “According to IDC FutureScape ‘The Infrastructure and Cloud Impact 2024 Predictions’, Malaysia’s public cloud services market is expected to grow by 27.2 percent CAGR from 2022 to 2027. The upcoming Oracle cloud region in Malaysia, therefore, signals the country’s potential to become a hub for technological innovation and growth in Southeast Asia.”

OCI Provides Customers with the Latest AI Infrastructure Offerings and a Resilient and Scalable Cloud Foundation Running Within Malaysia’s Borders

Oracle is the only hyperscaler capable of delivering AI and a full suite of 150+ cloud services across public, dedicated, and hybrid cloud environments, anywhere in the world. OCI’s unique cloud architecture enables Oracle to launch more public cloud regions faster by starting with an optimal footprint and scaling as needed, and deploy dedicated cloud regions with hyperscale cloud services inside customer data centers. This approach helps meet the needs of all countries and markets without compromising cloud capabilities, while also providing the consistent performance, SLAs, and global pricing for which OCI has become known.

With the planned public cloud region in Malaysia, customers and partners can gain low-latency access to cloud services to help them derive better value from their data and securely store data and run applications to help address regulations and requirements for data residency within Malaysia. In addition, OCI’s sovereign AI capabilities provide customers with increased control over where they locate their data and computing infrastructure and how they manage it. As a result, customers can achieve AI sovereignty by gaining the assurance that their use of AI is aligned with digital sovereignty frameworks.

Customers in Malaysia Welcome the Upcoming Public Cloud Region

Several NVIDIA AI infrastructure services will be available to customers, including NVIDIA AI Enterprise, NVIDIA Omniverse, and NVIDIA DGX Cloud.

“NVIDIA underpins the world’s largest AI models for training and inferencing, and Oracle’s continued expansion in Malaysia will help organizations across the country harness the power of AI,” said Dennis Ang, senior director, enterprise business (ASEAN and ANZ region), NVIDIA. “With the new Oracle Cloud Malaysia Region, customers in Malaysia will gain local access to NVIDIA’s accelerated, secure, and scalable platform for end-to-end AI development and deployment on OCI, helping accelerate the development of generative AI applications.”

Read the full release here.

 

View original content:https://www.prnewswire.com/apac/news-releases/oracle-to-invest-more-than-us6-5-billion-in-ai-and-cloud-computing-in-malaysia-302264649.html

SOURCE Oracle

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