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By James Emejo

The National Pensions Commission (PenCom) has finalised plans to commence the implementation of the Retirement Savings Account (RSA) transfer window under the Contributory Pension Scheme (CPS).

The transfer process, which is scheduled to commence from November 16, will allow RSA holders to transfer their accounts from one Pension Fund Administrator (PFA) to another within a year, in line with Section 13 of the Pension Reform Act of 2014.

The commission in a statement yesterday said the launch would signify the official opening of RSA Transfer Window.

Prior to the launch, PenCom had successfully developed the RSA application, which is an electronic platform to enable seamless account transfer.

The transfer window option means that retirement account holders can port from one PFA to the other even if he or she does not deliver any reason for the action.

Experts believed the development will translate into increased competition in the PFA space as account holders will move to operators that deliver them the best returns on investment.

The commission, however, said it has also conducted extensive workshops for licensed pension operators and state pension bureaus in readiness for the epoch-making event.

“The activation of the RSA transfer process will engender competition and Boost service delivery in the pension industry while asserting the right of RSA holders to determine which PFA manages their pension contributions and retirement benefits,” PenCom said.

It had initially projected June 2020 as the commencement date for the RSA transfer window, but had failed to launch the process owing to issues bordering on registration and biometrics.

The commission said it needed to resolve concerns over double registrations by some contributors and improper identification, which may lead to wrongful transfers among account holders.

But for the initial delay, the transfer window was designed to come into force together with the Pension Reform Act 2014, which gave birth to the CPS.

Stakeholders also believed that providing contributors with a transfer option will boost their confidence in the scheme.

According to Section 11(2) of the Pension Reform Act 2004, an employee reserves the right to migrate from one PFA to another without adducing reasons, but may not do this more than once in a year.

The development will put some of the leading PFAs, including ARM Pensions, Stanbic IBTC pensions, Premium Pension Limited and Sigma Pensions Limited under pressure to make adjustments or lose their clients to competition.

Records show the PFAs currently hold about half of the N11 trillion RSA assets.

Among the 21 licensed operators, the top 10 PFAs managed about 88.20 per cent of the total RSA assets.

Managing Director/Chief Executive, Credent Investment Managers Limited, Mr. Ibrahim Shelling, in an interview with THISDAY yesterday, said the transfer window option would be a game-changer for the industry.

He said: “The immediate implications would be that PFAs that have not been offering good customer service and portfolio returns to their customers may see large fund outflows to other PFAs.

“The service delivery of operators will certainly need to Boost drastically in other to compete, which bodes well for the customers.”

According to him, the PFAs will also need to Boost on investment management by providing competitive returns for customers in order to attract more funds.

Shelling added that with low yields on government instruments, it will require increased skills to navigate the investment market.

Also reacting to the proposed transfer window for pensioners,
Professor of Capital Market and President, Capital Market Academics of Nigeria, Prof. Uche Uwaleke, described it as a welcome development, adding that it will benefit retirees.

He said: “It is similar to what obtains in the stock market where investors are free to move from one stock broking firm to another.”

He added that this will further encourage competition among firms and put them on their toes to deliver superior service.

Uwaleke, however, urged the regulator to ensure that the process is seamless and inexpensive on the part of PFA clients.

He said PenCom should also watch out for unhealthy rivalry among PFAs which could take the form of demarketing of competitors in order to poach their clients.

On his part, former Director-General, Abuja Chamber of Commerce and Industry (ACCI), Dr. Chijioke Ekechukwu, commended the initiative.

He said: “This is a good development. If bank customers, telecommunications customers, and customers of many other sectors can port and change their service providers, customers of PFAs should have such opportunities also.

“This will obviously, create competition and efficiency and the customers will be better for it.”

Wed, 03 Aug 2022 11:59:00 -0500 en-US text/html https://www.thisdaylive.com/index.php/2020/11/10/pencom-okays-transfer-window-for-pensioners-to-change-pfas/
Killexams : Don’t Take Code from Strangers

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The Cheltenham Festival is the pinnacle of National Hunt jumps racing and a week that all racing fans look forward to. The prestige of the Cheltenham Festival is unrivaled with 28 top-class races spread across four days showcasing many of the sport’s best horses. There are 14 Grade 1 contests including the feature race on each day, the Champion Hurdle, Champion Chase, Stayers Hurdle and The Gold Cup.


Cheltenham has three courses, the New Course, the Old Course and the Cross Country Course. The first two days of the Festival are run on the Old Course, before switching to the New course for the final two days. The Cross Country Chase on Wednesday is the only race to be run over the cross country fences, a figure-of-eight course set in the centre of Cheltenham racecourse that crosses both the Old and New courses.

The first day of the Cheltenham Festival, Champions Day, takes place on Tuesday 14th March 2023.


The opening race is traditionally the Supreme Novices’ Hurdle, where the the best two-mile novice hurdlers from Britain and Ireland will be greeted by the infamous Cheltenham roar as the week’s action gets underway. Willie Mullins and Nicky Henderson have dominated the first Grade 1 contest of the festival in recent years,  winning seven of the last nine runnings with high-class performers such as Vautour and Douvan scoring for the former and Altior and Shishkin for the latter.


The Arkle Challenge Trophy is a race for 2m novice chasers often seen as a stepping stone to the Champion Chase the following year. Iconic chasers Moscow Flyer, Azertyuiop, Voy Por Ustedes, Sizing Europe, Sprinter Sacre and Altior all won this race en route to Champion Chase glory 12 months later over the same course-and-distance. With the emergence of a classy performer throughout the season likely, it has historically been an enjoyable spectacle for punters with seven odds-on favourites winning in the past decade. Four of those were for trainer Nicky Henderson, including last year’s winner Shishkin. 


The Ultima Handicap Chase is the first handicap of the festival and one of two staying handicap chases on offer over the four days. The field tackle 20 fences on the Old Course in a 3m1f test, with British-trained horses winning the last 15 runnings of the contest. Jonjo O’Neill and David Pipe have been responsible for three of those victories apiece and with a field of over 20 runners usually expected, the race often provides punters with a challenging betting heat with just two favourites scoring this century.


The feature race on Day 1 is the Champion Hurdle, the most prestigious 2m hurdle race in the British calendar. Superstars Night Nurse, Monksfield and Sea Pigeon won it twice each in a golden era for hurdling over four decades ago, while Istabraq emulated See You Then by winning the race for the third year in a row in 2000. Istabraq’s owner JP McManus has become synonymous with the race, with his green and gold silks carried to victory for six of the last 12 runnings.


The Mares Hurdle is a relatively new addition to the Cheltenham Festival, established in 2008 as an incentive to keep mares in racing. Irish trainer Willie Mullins has won no fewer than nine of the 14 runnings, six of those with the remarkable Quevega. While Quevega’s place in Cheltenham folklore is set in stone, with a wine bar at the racecourse named in her honour, Mullins’ dominance in the race has begun to subside slightly with the last three runnings falling in the favour of other trainers. 


The Boodles Juvenile Handicap Hurdle is for four-year-olds who are generally thought not to have quite the class to compete in the Grade 1 Triumph Hurdle. Introduced initially as a Listed race when the festival went to four days in 2005, the race was awarded Grade 3 status in 2009 and has become the bookmaker’s friend in recent years. In the past decade there have been seven winners with a starting price of 25-1 or higher including last year’s shock 80-1 winner Jeff Kidder for trainer Noel Meade.


The first amateur riders’ race at Cheltenham is the National Hunt Chase. Initially a gruelling test over 4m for novice chasers, the distance was reduced to 3m6f in 2020 after just four runners completed the course 12 months earlier. A higher calibre of horse is needed to win the race in recent years demonstrated by 2017 winner Tiger Roll, who went on to win back-to-back Grand Nationals. Amateur riders were unable to compete in 2021 due to Covid-19 protocols but return to their rightful place for this year’s renewal which will be music to the ears of Jamie Codd, who has won the race three times in the last seven years. 

The second day of the Cheltenham Festival is Ladies Day and takes place on Wednesday 15th March 2023.


The Ballymore Novices’ Hurdle kicks off the day and is often a stepping stone to either the Champion Hurdle or novice chases such as the Marsh Novices’ Chase or the Festival Novices’ Chase. Ireland have held the monopoly over this race in recent years with Ben Pauling’s Willoughby Court in 2017 the only non Irish-trained winner in the last eight years. The Irish dominance continued in last year’s race with the Henry de Bromhead-trained Bob Olinger emphatically dispatching Britain’s big hope Bravemansgame.


The Festival Novices’ Chase (formerly the RSA) is the novice equivalent of the Gold Cup and the most prestigious race of the season for staying novice chasers. In the last decade both Bobs Worth and Lord Windermere have returned after winning this contest to land the Gold Cup. The latter provided jockey Davy Russell with one of his three wins in the race, the best record of any jockey still riding.


The Coral Cup Handicap Hurdle is one of the most competitive races of the festival. The winner needs to cope with the hustle and bustle of a field that usually features 20-plus runners and it also has to be a quality horse – seven times in the last ten years this has gone to a horse with experience in graded races. Supasundae and Whisper both went on to Grade 1 glory after taking this race. Only one favourite has won the contest in the last ten years, with last year’s winning mare Heaven Help Us continuing the trend with a front-running victory at 33-1 under Richard Condon.


The Queen Mother Champion Chase is the most prestigious 2m chase in Britain and Ireland and has been won by some of the fastest chasers in racing. Nicky Henderson has won five of the last ten runnings of the race, including with superstar Sprinter Sacre in 2013 and 2016 and most recently with Altior in 2018 and 2019. Ante-post favourite and unbeaten chaser Shishkin could continue Henderson’s fine record in the race and follow up his Arkle triumph at last year’s festival.


The only race not run on the main Cheltenham racecourse is the Glenfarclas Cross Country Chase, which has its own track in the centre of the course. The obstacles and raised banks make it a unique test and it is no surprise that it has become a specialist’s track with multiple winners a common occurrence. Garde Champetre won back-to-back runnings in 2008 and 2009 for Nina Carberry and Enda Bolger while Balthazar King is another two-time winner. Tiger Roll won this on the way to landing the Grand National in 2018 and 2019 and conquered 2020 French-trained winner Easysland to win the race for a third time last year.


The Johnny Henderson Grand Annual Handicap Chase, named after the father of Nicky Henderson, was switched to Wednesday last year from its Friday slot it had held since 2009. Crucially, this means that instead of being run on the New Course the 2m handicap now takes place on the Old Course. Whatever the day, it invariably attracts a big field and is run at a fast pace which makes it a distinctive test – four of the last seven winners had run in the race previously; Next Sensation, Rock The World, Le Prezien and Croco Bay.


The only race at the Festival not to be run over obstacles is the Champion Bumper. It is designed for horses who are yet to begin their jumping careers and is often a starting point for top-class hurdlers and chasers, most notably Cue Card who won the race in 2010 at 40-1 and remains the only successful four-year-old this century. In recent years, the Cheveley Park Stud operation, who are better known for the exploits on the Flat, have used this race as a grounding for their future jump stars including the last three winners Envoi Allen, Ferny Hollow and Sir Gerhard.

The penultimate day of the Cheltenham Festival takes place on Thursday 16th March 2023, also known as St Patrick’s Thursday.


The opening race is the Marsh Novices’ Chase, registered as the Golden Miller, and is the chase equivalent of the Ballymore Novices’ Hurdle. Run over the intermediate trip of 2m4f, the race has gone to an Irish-trained horse on all but three occasions since its inception in 2011. Often producing breathtaking displays such as Vautour’s flawless 15-length demolition job in 2015 and thrilling finishes like Samcro’s narrow 2020 victory by a nose over Melon, it should get St Patrick’s Day off to a flying start.

The Pertemps Network Final Hurdle is an ultra-competitive handicap contested by horses who have earned their spot through finishing in the first six in one of a series of qualifying races. A race which requires plenty of strategic planning, it is no coincidence trainers have gone on to win multiple runnings after cracking the code with a breakthrough success. David Pipe struck with Buena Vista in 2010 and 2011, Pat Kelly with Mall Dini (2016) and Presenting Percy (2017), while Gordon Elliott has gone one better to win the race three years running with Delta Work (2018) and Sire Du Berlais (2019, 2020).

The Ryanair Chase is the feature race over fences on day three of the Cheltenham Festival. A Grade 1 test over 2m4½f, it is the championship contest for chasers whose optimum trip falls between that of the Champion Chase and Gold Cup. It has been won by stars such as Un De Sceaux and Vautour as well as producing subsequent King George winners Cue Card and Frodon. Despite sponsoring the race since 2006, Ryanair CEO Michael O’Leary has only tasted victory once as an owner with Balko Des Flos.


The Stayers’ Hurdle is the most prestigious race of the season for long-distance hurdlers and threw up one of the greatest stars of 21st century jump racing in Big Bucks’, who won it four times in a row from 2009 to 2012 in the colours of the late Andy Stewart for trainer Paul Nicholls. Other classy multiple winners include Baracouda and Inglis Drever, who remains the only horse to regain his crown this century when following up his win in 2005 with back-to-back victories in 2007 and 2008.


The Paddy Power Plate Handicap Chase is run over 2m 4½ furlongs. Though short-priced horses have scored in the last four years the race can throw up winners at longer odds, such as Darna (33-1), Carrickboy (50-1), Holmwood Legend (25-1) and Something Wells (33-1) who have all been successful since 2009. Legendary trainer Martin Pipe won this race four times and his son David is close to emulating that feat with three winners of his own, making him the joint-most prolific trainer in this race since the turn of the century with Venetia Williams.


The Daylesford Mares Novices’ Hurdle is one of the newest additions to the Cheltenham Festival calendar and since its introduction in 2016 has been somewhat of a one-man show, with Willie Mullins taking the first five runnings of the race. Mullins’ wins have ranged from odds-on shots such as Limini and Laurina to outsiders like 50-1 2019 winner Eglantine Du Seuil. The dominant reign of Mullins was brought to an end last year by fellow Irish trainer Henry de Bromhead with Telmesomethinggirl. With no winners trained outside of Ireland yet, this could prove a happy hunting ground for Irish punters enjoying St Patrick’s Day.


The second of the staying handicap chases at the festival is the Fulke Walwyn Kim Muir Challenge Cup for amateur riders over 3m2f. This race can often provide the platform for bigger things with Ballabriggs taking the 2010 running en route to Grand National glory the following year. Last year’s winner Mount Ida certainly fits that progressive profile and was guided to victory by professional Jack Kennedy due to Covid-19 restrictions preventing amateur jockeys from riding. Jamie Codd has ridden a race record four winners since 2009 and will likely have the pick of the Gordon Elliott representatives as Cullentra house bid to win the race for a third year running.

The final day of the Cheltenham Festival is Gold Cup day, taking place on Friday 17th March 2023.


The Grade 1 Triumph Hurdle is the championship event for four-year-old juvenile hurdlers. Four winners have gone on to land the Champion Hurdle, most recently Katchit in 2008. This was also the race that Tiger Roll burst onto the scene in 2014 with the first of his five festival wins. The 2020 running produced one of the most dramatic moments at the festival in recent years as Goshen was set to be the most impressive winner of the race since the ill-fated Our Conor, with the race at his mercy when ten lengths clear approaching the last only to unseat jockey Jamie Moore.


The Randox Health County Handicap Hurdle has been dominated by Willie Mullins since the race moved from its traditional slot as the final race of the meeting to its current placing as the second race on Friday in 2009. Mullins has won the race five times since then while Dan Skelton has also enjoyed this 2m1f handicap hurdle, landing his first festival winner with Superb Story in 2016 before following up with Mohaayed in 2018 and Ch’tibello in 2019. A race often won by a smooth-travelling horse scything through the field from the back, Belfast Banter’s 33-1 win last year continued the good record of outsiders with only one outright favourite winning since Master Tern in 2000.


Young long-distance stars get their chance to shine in the Grade 1 Albert Bartlett Novices’ Hurdle over 3m, a race won by future Stayers’ Hurdle winner Penhill in 2017. The race also gives an indication to potential Gold Cup horses with Bobs Worth and Minella Indo taking this race in 2011 and 2019 respectively prior to their wins in the festival feature. The only trainers successful more than once since the race was founded in 2005 are Jonjo O’Neill and Willie Mullins, who have both won it twice.


The Cheltenham Gold Cup is the most prestigious contest in jump racing, the championship event for long-distance chasers and a true test of stamina over a gruelling 3m2f½f. Most of the sport’s biggest names, from Golden Miler to Desert Orchid, Dawn Run to Kauto Star, have won it. The legendary Arkle triumphed three times in the 1960s and the feat was matched by Best Mate in the early-2000s. After seven years without an Irish-trained winner between 2007 and 2013, there has been a significant change in fortune with Ireland taking six of the last eight runnings.


The St James’s Place Festival Hunters’ Chase, formerly known as the Foxhunters’, is run over the same course-and-distance as the Gold Cup that precedes it but with the crucial difference being that it is for amateur riders. In order to qualify a horse must be aged at least five and finished either first or second in hunter chases, won two open point-to-points or won one point-to-point and finished first or second in a hunter chase throughout the season. It is often viewed as pinnacle of the season for amateurs although last year’s winner Porlock Bay was ridden by professional Lorcan Williams due to Covid-19 restrictions forbidding amatuer riders to take part.


The newest race in the festival programme is the Mrs Paddy Power Mares Chase, a Grade 2 run over 2m4f½f. The race was added to the meeting in 2021 in place of the novice handicap chase which was dropped from Cheltenham and is now run at Sandown the Saturday before the festival. In line with the other two contests for fillies and mares during the week Willie Mullins asserted his dominance early by saddling a 1-2 in the inaugural running of the race last year with Colreevy narrowly edging out Elimay.


The meeting ends with the only race confined to conditional jockeys, the Martin Pipe Handicap Hurdle over 2m 4½f. The race commemorates the 15-time champion jumps trainer who won 34 races at the Cheltenham Festival during his record-breaking career. It is restricted to horses with a BHA rating no higher than 145 but Champagne Classic, Killultagh Vic, Don Poli, Sir Des Champs and last year’s winner Galopin Des Champs have all gone on from success here to score at Grade 1 level. 

Fri, 22 Jan 2021 00:19:00 -0600 en text/html https://www.racingpost.com/cheltenham-festival/racecards/
Killexams : Court orders PenCom, Sigma Pension to Pay Retiree 50% RSA of N10m within 30 days

The National Industrial Court has ordered the National Pension Commission and Sigma Pension Limited to allow a retiree, Rakiya Girei access to withdraw 50 per cent of her Retirement Savings Account (RSA), within 30 days.

The judge, Justice Benedict Kanyip, delivering the judgment yesterday also declared that failure and refusal of the defendants to yield to the legitimate request of the claimant to withdraw 50 per cent of her RSA was a violation and negation of the provisions of the 1999 Constitution.

Kanyip further declared that the action of the defendants against the claimant on gender ground as discriminatory and gross infringement of the 1999 Constitution.

The court therefore, ordered the defendants to jointly and severally pay the claimant the sum of N10 million being the 50 per cent of her RSA from the N20.2 million of her total saving within 30 days.

From facts, the claimant, Girei had submitted that following her retirement from the Federal Civil Service in 2019, having attained 60 years mandatory retirement age, she requested the payment of 50 per cent lump sum from her RSA.

She further stated that the defendants refused to honour her request but rather proposed 31.3 per cent of her RSA based on her gender.

The Claimant’s Counsel, Olusola Egbeyinka argued that the defendants cannot place reliance on gender categorisation to deprive the claimant her legitimate pension benefits.

The Counsel also said that such statutory provisions in the Pension Reform Act cannot get the favour of the court and urged the court to grant the reliefs sought in the interest of justice.

In defence, the first defendant, Sigma Pension Limited maintained that the parameter of gender in the Guideline on Programmed Withdrawal Template cannot be said to be discriminatory as envisaged in the constitution.

Sigma Pension Limited also argued that its actions in the circumstances leading to the suit were in legal compliance with the extant laws and Guidelines of the PenCom and urged the court to dismiss the case in its entirety.

In similar argument, PenCom also submitted that by virtue of the Constitution and the Pension Reform Act, the life expectancy for a woman is longer than that of her male counterpart.

The defendant therefore, opined that more funds would have to be set aside for programmed fund withdrawals for the claimant to cater for a continuous source of income throughout the remainder of her life.

The court after the evaluation of submissions of both parties, however held that the 25 per cent withdrawal threshold allowed by the PRA related only to those who voluntarily retire, disengage, or are disengaged from employment.

The court in addition reiterated that the question of the Sigma Pension fixing the claimant’s lump sum withdrawal at 25 per cent of the claimant’s RSA had no basis whatsoever under the Pension Reform Act.

Wed, 27 Jul 2022 12:00:00 -0500 en-US text/html https://www.thisdaylive.com/index.php/2021/12/17/court-orders-pencom-sigma-pension-to-pay-retiree-50-rsa-of-n10m-within-30-days/
Killexams : How to Build a Blueprint for Secure Software (eBook)

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Killexams : Contributory Pension Scheme and Nigeria’s economic development

This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

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Killexams : The Strategic Impact of Verizon’s 2022 Data Breach Investigations Report

The Strategic Impact of Verizon's 2022 Data Breach Investigations Report

Look no further than Verizon's Data Breach Investigations Report for data about the operational side of security — especially incidents and breaches. Now in its 15th (!!!) year, the report is one of the deepest and most comprehensive sources of information about the threats we face as an industry.

The report is awesome, full stop. Everyone working in and around cybersecurity should read it. That said, it's necessarily long and dense on information — anything less would omit important details and nuances.

At this point, it's safe to say the Lindy effect has set in for the Verizon DBIR report. It's incredible that a data set and methodology has continued for so long and exponentially increased in relevance. The report is just now hitting its stride and only keeps getting better.

The opportunity to summarize and interpret the report has created a whole cottage industry of derivative commentary and analysis. This metaphor from Digital Shadows CISO Rick Holland on the ShadowTalk Threat Intelligence Podcast explains it well:

It's like a Marvel movie or a Star Wars movie. It's very re-watchable because you'll pick up different things every time you read through it.

In my view, more discussion is better. There are so many ways to think about and remix the data. Multiple InfoSec professionals looking at the same base dataset, deriving their own meaning, and adding their own perspectives is a powerful phenomenon that's somewhat unique to the Verizon DBIR report.

I've been looking forward to taking my own shot at analyzing and interpreting the data. The release of the 2022 report was the perfect time. I'd love to do it every year.

This time, I'm staying closely aligned to the Results and Analysis section of the report. My hope is for this analysis to make it easier to a side-by-side read of the real report with some pointed commentary about the impact on business and strategy.

We're going to jump straight into the core of the report. The Results and Analysis section is an extensive, wide-ranging tour de force of the Verizon DBIR dataset. The 15th edition of the DBIR report includes analysis of 914,547 incidents, 234,638 breaches, and 8.9 terabytes of cybersecurity data…wow!

The four components of the VERIS model are: Actors, Actions, Assets, and Attributes. The DBIR report also includes a bonus Timeline component. We'll go through all five components individually. Each has its own insights and nuances that are worth spending time on.

Wrangling and making sense of this much data is, unsurprisingly, quite hard. To help create order from the chaos, the Verizon DBIR team aligns this section of the report closely with the VERIS framework incident description model, or A4 threat model. Spending a bit of time understanding the basics of VERIS is a good prerequisite if you have time. Basic fluency with the terms makes a big difference.

There's a lot going on in this report with both data and interpretation — so, buckle up. It's time to go deep on one of the most iconic reports in the industry.


The actors section looks at who causes breaches and incidents. Contrary to what we're often told, most breaches result from external parties — not insiders or business partners. Straight from the report:

Our findings indicate that data compromises are considerably more likely to result from external attacks than from any other source. Nearly three out of four cases yielded evidence pointing outside the victim organization.

Despite all the chatter and hyperbole about insider threats, the report shows a clear trend about external threats. The authors' blunt description is the perfect summary:

Most data thieves are professional criminals deliberately trying to steal information they can turn into cash.

Yes, there are other people and motivations that lead to breaches. Those are the exception, not the rule. The results aren't even close:

The Strategic Impact of Verizon's 2022 Data Breach Investigations Report
Source: Verizon 2022 DBIR Report

The Verizon DBIR report findings directly contradict data from other vendor-produced reports about the percentage of breaches attributable to insiders. It's very confusing, and the confusion makes it difficult to know where to allocate resources to defend your company.

Look at incentives when you're deciding which report to trust. The DBIR data comes from dozens of different sources. It's not perfect, but there is no larger or more diversified set of cybersecurity incident data in the world.

Further complicating the situation, Verizon's DBIR data has an interesting plot twist. Even though most breaches are caused by external parties, the relative impact of insider breaches is much greater — over ten times greater, to be (somewhat) precise:

The Strategic Impact of Verizon's 2022 Data Breach Investigations Report
Source: Verizon 2022 DBIR Report

Partner breaches involve a much higher number of compromised records than external breaches, too. Even though external breaches happen at a higher frequency, internal and partner breaches have a much greater impact when they occur.

Motives are also interesting to look at. This conclusion is far more clear — threat actors are motivated by financial gains:

The Strategic Impact of Verizon's 2022 Data Breach Investigations Report
Source: Verizon 2022 DBIR Report

Hacktivism does happen, particularly in larger organizations. However, the overwhelming motive is money. This conclusion isn't surprising — it just puts data behind something most of us intuitively know.

The tricky part is that attackers aren't always after money directly. Bank accounts and credit cards are always an attractive target because they are directly related to money. However, it's often easier to exploit other types of assets and turn them into money. For example, customer data can be sold, or data can be ransomed. The motive is still money, but threat actors are devious about how they get it.

Unfortunately, there's no way to put a nice, tidy bow on threat actors. The conclusion we should make is that external, internal, and partner threat actors all matter, and they're probably after money. The best we can do is to implement controls around all three types of threat actors with a slant towards the company's financial resources.


The Verizon DBIR report's classification of actions is interesting because it gives structure to the methods used to carry out attacks. This is both incredibly hard to do and incredibly valuable when finished.

It's a lot easier to classify actors because they're people: insiders, partners, and outsiders — done. Classifying the myriad ways attackers cause incidents and breaches is a lot more nebulous.

The data in this year's report reinforced some consistent, long-running themes. Attackers compromising and gaining control of remote access has been a central theme for years. The recent, exponential increase in remote work has just created new opportunities for attackers in an area we already knew was a problem.

This theme lends credibility to recent attention and financing activity in remote access and secure networking. A few recent examples:

Denial of Service (DoS) and credential stuffing attacks against web applications are also repeat offenders. The data makes an important distinction clear: DoS attacks cause a lot of incidents (46% of the total), but not a lot of breaches. In other words, they're an annoyance that impacts operations and availability more than security.

The theme for breaches is both commonality and diversity. The report states that "73% of breach varieties are found in the top 10 varieties" — a lot of commonality considering how many ways a breach can happen. However, the report's "Other" category is a kitchen sink of causes that accounts for ~30% of breaches. That's a lot of diversity bundled together, and it shows how murky the picture still is.

Use of stolen credentials (e.g. attackers stealing legitimate username and password combinations to log in directly) is a common attack and the leading cause of breaches. It's closely paired with credential stuffing, which is a brute-force attempt to gain access using stolen credentials. We've known about this problem for a long time.

Recent developments around passwordless authentication (WebAuthn and Passkeys, specifically) gives us a glimmer of hope about a real solution. There's a lot of chatter and nuance about passwordless that creates confusion about its viability as a solution, but let's ignore the drama for a second.

The strategic takeaway is this: attackers using stolen credentials to gain access is much, much less likely to happen with WebAuthn (Passkeys). Increasing adoption of WebAuthn by consumers and businesses makes a direct impact on reducing the frequency of this type of attack. As an industry, we need to lean into passwordless and make it happen.

The overall story for actions is persistence. We know what causes most incidents and breaches. Creating and implementing solutions to reduce or eliminate them is a much longer road. There are viable solutions out there, and we'll get to them with consistent effort and patience.


Data about which assets are being attacked is useful because it helps security practitioners know what to defend. (Note: It's also useful for investors because it's an indicator about which companies are solving the most important security problems.) The report describes assets like this:

Assets are the THING that the Action happens to. So, this is where you find WHAT was hacked via an exploit, WHO was socially engineered by an attacker or WHAT was lost or stolen.

The data is explicitly clear: bad actors attack servers more than anything else. A lot more — like, 80% of the time:

The Strategic Impact of Verizon's 2022 Data Breach Investigations Report
Source: Verizon 2022 DBIR Report

The frequency and volume of attacks on servers will be surprising to some, especially given the emphasis of public markets on endpoint security companies. With the shift to cloud computing, "servers" can roughly be translated to "cloud workloads" — and that has important strategic implications.

Endpoint security is important, but this data could be interpreted as overwhelming evidence in support of emerging Cloud Security Posture Management (CSPM) and Cloud Workload Protection (CWP) companies. When discussing CrowdStrike last year, I said this about emerging CSPM and CWP companies:

Endpoint computing isn't going away any time soon. However, the number of assets to protect is growing more quickly in the cloud. Well-funded cloud startups like Wiz and Orca Security are rapidly gaining traction and building great products. The competition in this part of the cybersecurity ecosystem is intense.

As this DBIR data shows, protecting servers and cloud workloads is critical for both organizations and companies in the endpoint security market.

The report's data about asset varieties is also insightful. In a preview of the Incident Classification Patterns we'll be discussing later, web application and mail servers get attacked a lot. Desktop and laptop endpoints do too, but not nearly at the same frequency as servers:

The Strategic Impact of Verizon's 2022 Data Breach Investigations Report
Source: Verizon 2022 DBIR Report

The big takeaway from the Verizon DBIR report about assets is that Internet-facing servers get attacked far more than anything else. Longer term, this gets even more complicated as more server workloads move to cloud providers. Based on the data, investments should be focused on protecting servers no matter where they live.


In the Verizon DBIR report, attributes are used to describe the type of data that is compromised in breaches. Here's the data from the report, which includes figures from both 2008 and a trend from 2017-2021:

The Strategic Impact of Verizon's 2022 Data Breach Investigations Report
Source: Verizon 2022 DBIR Report

A notable part about the trend of attributes is the decline in payment card data over time. It's still high, but a ~60% decline in a decade (including a ~10% decline in the past two years) is a meaningful change.

Why did this decline happen? Based on the data, I think it's fair to say PCI DSS has worked. The standard isn't perfect, but it's hard to argue with data like this. Companies had to make significant financial investments over this period to be compliant (especially Level 1 merchants), but the results are paying off.

Ironically, we can't seem to do the same for people. Digital identities, inclusive of both personal data and authentication credentials, are neck-and-neck for the most frequently compromised data variety. Both lead other varieties by a wide margin.

I'm curious to see if privacy regulations make an impact on breaches of personal data over time. Privacy regulations are on a much earlier timeline than payment card standards. PCI DSS version 1.0 is eighteen years old now. Privacy regulations like GDPR have only been enforceable since 2018. What will this chart look like in 10-15 years?

The actionable trend from the attributes section of the Verizon DBIR report is to focus on protecting personal data and credentials. Protecting personal data likely overlaps with existing privacy projects organizations have been working on. Protecting credentials is hard, but it's on the verge of becoming easier with recent convergence around passkeys. There's a lot to look forward to in this area of the report over time.


Finally, the Verizon DBIR report includes a small section about breach timelines. Here's the core chart:

The Strategic Impact of Verizon's 2022 Data Breach Investigations Report
Source: Verizon 2022 DBIR Report

The cruel irony about the report's timeline data is that it looks good for bad reasons. Companies find out about breaches because attackers disclose the breach first:

The top Discovery Method for breaches (more than 50%) is now “Actor Disclosure” (normally either on the asset in the form of a ransomware note or on a criminal forum to sell the data or announce the breach). Neither of which is desirable.

That's one way to shorten the discovery timeline… but clearly not what we want to happen. Unfortunately, what we want doesn't matter.

The strategic impact of this data is that companies need to be prepared for unexpected public disclosure of breaches. The odds of this happening are basically 50/50. This means "soft" exercises like incident response tabletops, public relations communications, and more matter.

Another insightful observation is the amount of steps threat actors take to breach a company. Most breaches are accomplished in five or fewer steps:

The Strategic Impact of Verizon's 2022 Data Breach Investigations Report
Source: Verizon 2022 DBIR Report

The report's recommendation is to prioritize lengthening the attack path, which is good advice. Reframing this conclusion slightly (in my own words): most threat actors go after low hanging fruit, so to speak. If an attack is going to take more than five steps, it's probably not worth the effort. They'll deliver up unless the incentives for proceeding make it worthwhile to continue.

Finally, this section of the report goes into the overall value chain for breaches. This is one of the newer parts of the report — the data has only been collected for two years. It's also one of the most interesting parts. It feels like this section will be much larger in the future and could even be a report on its own.

Why is the entire value chain for breaches important? Because breaches aren't isolated incidents — they take preparation to execute, and they feed off each other:

…an attacker ecosystem exists both before and after the breach, and it plays into and feeds off of the incident.

It often seems that breaches beget more breaches, creating a Circle of Breach so to speak.

I also liked this analogy from the report about how to think about breaches:

The takeaway is not to think of breaches only in terms of starting or ending. Instead, think of them like you might think of a sports team: they are either on the field or preparing to be.

People focus a lot of their attention on breaches themselves. It's totally reasonable — breaches are often major events that grab news headlines and create ripple effects throughout the industry. If we take a step back, though, the bigger picture is just as important. We need to look at the end-to-end value chain if we're going to make a meaningful reduction in breaches and cybercrime.

Understanding the cybercriminal ecosystem is one of the first steps. An adjacent (but relevant) project is the World Economic Forum's Cybercrime ATLAS research. The objective is to understand and map the ecosystem to help direct actions and resources. If you want to take a deeper dive, the project was discussed in detail by a panel at RSA Conference 2022 (paywalled, replay available for attendees and digital passes).

The value chain data in the Verizon DBIR report is incredibly useful, especially with a relatively short history compared to other data points in the report. Continued collection and analysis of data over time, combined with macro-level ecosystem research like the Cybercrime ATLAS project, is an exciting development to watch.

If you look at the Verizon DBIR report year after year, it's clear that many trends and observations from the report repeat themselves. The authors fully embrace this and use it to provide excellent commentary and look backs at previous reports.

The recurring themes are:

  • Data compromises result from external attacks.

  • The primary motive behind cybercrime is financial gain.

  • Most breaches are caused by stolen credentials, ransomware, and phishing.

  • Servers are attacked far more than any other asset.

  • Credentials and personal data are the most frequently targeted data types.

On one hand, it's troubling that the same themes keep coming up. A pessimist would say that we just can't seem to fix problems we've known about for years. There's some truth to that point of view, but I see it differently.

Cybersecurity is a classic definition of a wicked problem. It has no solution because it's so complex and intertwined. Framed that way, it's encouraging that trends about our problems have remained relatively stable for years.

Securing our organizations and ourselves is a difficult enough problem already. Knowing what our challenges are and how to face them should deliver us some solace, even if they're impossible to fully solve.

The heroic effort by the Verizon DBIR team to quantify and explain our problems in a manageable, actionable way is one of the most valuable and impactful contributions in the history of our industry. I'm excited to cover the 2023 report in even more depth next year.

Thank you to the DBIR Team: Gabriel Bassett, C. David Hylender, Philippe Langlois, Alex Pinto, and Suzanne Widup for producing yet another amazing report for all of us to learn from. Your work over the years is appreciated.

*** This is a Security Bloggers Network syndicated blog from Strategy of Security authored by Cole Grolmus. Read the original post at: https://strategyofsecurity.com/the-strategic-impact-of-verizons-2022-data-breach-investigations-report/

Wed, 27 Jul 2022 08:44:00 -0500 by Cole Grolmus on July 27, 2022 en-US text/html https://securityboulevard.com/2022/07/the-strategic-impact-of-verizons-2022-data-breach-investigations-report/ Killexams : Where Canada’s P&C insurance professionals are at with COVID

When deciding whether to attend industry events in-person, just over half of Canada’s risk professionals are casting a wary eye on COVID-19, while about one in three are ready to move on, according to responses received in a Canadian Underwriter online survey.

COVID was either a very important or important consideration in deciding whether or not to attend in-person events, according to 55% of 246 respondents who answered the question. About 28% said it was either unimportant or not at all important, while just under 17% were neutral.

The online survey of 375 Canadian risk and insurance professionals was conducted last Wednesday, with the country being in a seventh COVID wave led by the highly transmissible BA.5 variant. Public health officials in Canada have said there is no indication the new BA.5 variant shows more risk of severe outcomes or death than earlier strains of COVID-19, which caused the deaths of 30,872 Canadians as of Jan. 1, 2022.

Updated Public Health Agency of Canada figures show 42,681 deaths from COVID-19 as of July 23, 2022, suggesting almost 12,000 have died from COVID-19 so far this year alone. As of last week, almost 4.1 million Canadians have reported catching it over the course of the pandemic in 2019-22. COVID-19 case counts in 2021 totalled 592,391.

The numbers may be underestimating the number of cases, since methods for counting COVID cases have changed over time.

Most provincial governments dropped mask or other public health mandates in May through July of this year. But Canada’s risk and insurance professionals still mainly feel cautious about attending industry in-person events, noting COVID-19 is still a force to be reckoned with.

“COVID is still here, even though some choose to ignore it,” one respondent commented. “Going to an event with large groups of people does not make sense. It risks further spread to families and workplaces.”

CU’s survey asked how many in-person industry events risk professionals have attended in 2022. Almost half (about 48%) said they’ve attended zero in-person events thus far. A further 19% reported attending only one. In comments about whether COVID was a factor in their decisions to go, several expressed concerns about the ongoing personal health risks of attending large events.

“I have not attended any industry event other than lunch or dinner to discuss development of business,” one respondent commented anonymously. “The largest event attended is six people and I am not comfortable attending any event larger than that.

“I am responsible for my own health and cannot trust that a large gathering can provide me with safety that satisfies my comfort level. I am comfortable exposing my health to maybe 10 people max. I will not attend large gatherings any time in the near future.”

Another said they would go to in-person events only if organizers made efforts to ensure the safety of attendees.

“Knowing the new variant is the most transmissible yet, it should guide event planners to take as many precautions as possible to ensure in-person events are the safest they can be,” one commented. “Triple-vaccinated required, venue has updated ventilation standards, not overcrowding rooms, open air/outdoor gathering environments when possible, frequent hand-sanitizing stations.

“These standards (outside of vaccine requirements) should be the status quo going forward regardless of COVID.”

But only 16% of risk professionals agreed conference organizers or coordinators are responsible for attendees’ safety. A large majority of Canadian risk professionals (78%) believe they are responsible for their own safety. To this extent, many in the profession are vaccinated at levels at or beyond the national average.

Fifty per cent of industry professionals reported having at least one dose of a COVID-19 vaccination booster shot, while a further 24% said they have received a second booster. Roughly 93% of industry professionals have received at least two doses of COVID-19 vaccines.

In contrast, 82% of Canadians have received at least two vaccine doses. Forty-nine percent of Canadians have received one booster dose, according to Public Health Canada stats, and about 11% have received a second booster shot.

Because of their vaccination status, many industry professionals report feeling less fearful about attending in-person industry events.

“I’ve got all three of my shots, and if other people who aren’t vaccinated get ill, that’s on them for making a poor decision,” one risk professional commented.

Said another: a “high number of colleagues have all their shots. Those who don’t won’t come out [to in-person events].”

A significant minority of the industry said COVID-19 will always be a risk, and the time to move on has arrived. “COVID is now part of life and I feel we need to be aware and take personal precautions,” said one respondent. “However, life needs to go on and in-person events are an important part of networking, connecting with others, education opportunities, etc.”

Some observed that while recent COVID-19 variants are more transmissible, those who are vaccinated stand a much better chance of making it through without severe health consequences or dying.

“When we saw the first wave and how people got sick, and some died, that was scary,” one industry professional commented. ”Now the new variant (BA.5) is not life threatening, so [I] am not too apprehensive in meeting people or to, say, be in a crowd.”

Many believe the main threat of COVID is now gone. “COVID is no longer a meaningful threat due to both vaccines, and the weakening of the virus into the current variants,” one writes.

Another compares the threat of COVID to the threat of being killed in an auto collision. Transport Canada reported 1,745 Canadians were killed in auto accidents in 2020, down 1% from 2019 (1,762). There were 72,917 collisions in 2020, suggesting a rate of about 2.4% deaths per collision.

About 1% of Canadians who reported being ill with COVID have died, Public Health Canada stats suggest.

“The probability of death from COVID is lower than the risk of travelling by car, except for those with elevated pre-existing health concerns,” one risk professional observed. “We haven’t suspended life due to risk of a car accident, but we take reasonable precautions.”

Feature photo courtesy of iStock.com/VioletaStoimenova

Tue, 02 Aug 2022 07:29:00 -0500 en-US text/html https://www.canadianunderwriter.ca/insurance/where-canadas-pc-insurance-professionals-are-at-with-covid-1004224019/
Killexams : Supasundae's jockey Robbie Power joins the panel to discuss the weekend action

Is Faugheen playing for minor honours in the Champion Hurdle now?

Tom Bellamy, jockey He probably didn’t quite look the force of old at Leopardstown but I don’t think Willie Mullins would take him to Cheltenham if he wasn’t there to win. On that basis it would be a no.

Charlie ­Longsdon, trainer That could well be the case after two disappointing runs this season and with Buveur D’Air looking in imperious form. However, you can never underestimate Willie Mullins and you might see a different horse on better ground at Cheltenham.

Robbie Power, jockey On his last two runs, yes. But, you know what, I wouldn’t bet against Willie getting him back to somewhere near his best when it matters next month. The best piece of form for this year’s Champion Hurdle is last year’s Champion Hurdle, so Buveur D’Air will be hard to beat.

Tim Smith, Ladbrokes odds compiler The race looks so bad that any horse with a leg in each corner has a place chance, but if he can’t beat a horse having a Stayers’ Hurdle prep then he will surely struggle to beat Buveur D’Air. Unfortunately classy two-mile hurdlers seem to be a dying breed, with the good suitable Flat horses sold abroad and the National Hunt stock fast tracked to chasing.

Evan Williams, trainer Yes, probably. But there are a lot of horses playing for minor honours in the Champion Hurdle. There is an obvious favourite in Buveur D’Air and ,while he was far from impressive on Saturday, he is the standout. Faugheen had no right to come back as good as he was. He ran well at Leopardstown and just got beat by a progressive horse.

Is Supasundae your idea of the Stayers’ Hurdle winner?

Tom Bellamy He looks classy and he can travel through a race with considerable ease and then quicken off a strong gallop. That might be something that some other Stayers’ Hurdle candidates don’t have.

Charlie ­Longsdon It was a great performance but it was over two miles. He’s probably a worthy favourite and he has all-important Cheltenham form. However, I love the way Sam Spinner races and it would be great for racing if he were to win. La Bague Au Roi has been slamming the mares over three miles and her weight allowance could make her competitive if she runs.

Robbie Power Yes. I’d certainly like to think so. You would have to say he has probably run the best trial of any for the Stayers’. He stays too and I have no worries about his stamina. He feels like a much better horse than he was last season.

Tim Smith He has the class and the track form but he has been beaten on both tries at three miles and I’m not convinced he’s an out-and-out stayer. There’s a bit of Hardy Eustace about him and I would supplement him for the Champion Hurdle. He has just stuffed the second favourite and a failed chaser is a 4-9 jolly, so it doesn’t look like mission impossible.

Evan Williams He’s my idea of the winner and should be favourite. He put in an excellent performance in the Irish Champion and I understand why they’re going down the staying route as you go where you’ve got a favourite’s chance.

How strongly did you rate Min’s performance in the Dublin Chase?

Tom Bellamy It wasn’t far off the top drawer, I thought Min was really impressive. He looked very professional.

Charlie ­Longsdon You have to rate it very highly. To win any Graded race by 12 lengths eased down is very impressive but if he goes to Cheltenham, which I am sure he will, it will be a very different ball game against the likes of Altior and Politologue.

Robbie Power I made the running on Special Tiara and we went a strong gallop. That performance from Min was the best trial so far this season and better than anything we have seen in Britain. Special Tiara gave me a fantastic thrill and he jumped like a buck. If the ground is good at Cheltenham, he’ll run really well again.

Tim Smith With Yorkhill seemingly cooked going round the paddock, it didn’t take much winning but Min beat the champion hurdler over the smaller obstacles and he’s starting to translate that class to chasing.  I won’t spend much time looking at the Champion Chase until we know what’s going on with Douvan and Altior, but Min isn’t one to underestimate.

Evan Williams He was brilliant. He’s a classy horse and a big contender for the Champion Chase. Altior is the obvious one for Cheltenham but Min has been doing everything asked of him and is going the right way.

David Mullins pushes out Min for a convincing 12-length success in the Dublin Chase

Getty Images

Is Footpad banker material in the Racing Post Arkle?

Tom Bellamy I think so. I haven’t seen a novice jump with his accuracy over two miles going as quick as they go. He doesn’t put a foot wrong. He looked very good.

Charlie ­Longsdon He has been impressive and I’m sure people might see him as a banker, but I don’t think it will be that easy. The ground will be very different in March and Petit Mouchoir beat him in the Champion Hurdle last season. Henry de Bromhead has had a quiet month and his horses are likely to be in better shape at Cheltenham. Also don’t write off Sceau Royal.

Robbie Power He’ll probably win but I would expect Petit Mouchoir to finish a lot closer to him there. That was only his second run over fences and he would have learned a lot. He looks the value in the race.

Tim Smith The Arkle usually has a predictable outcome and Footpad looks like a typical winner. He guns out in front and jumps like an old hand. The one who might prove difficult to burn off is Saturday’s rival Petit Mouchoir. He beat Footpad three times over hurdles and a clear round could see him reverse Leopardstown form.

Evan Williams You’ve got to love the way he goes about his business and I can’t see beyond him in the Arkle. The owners are having an unbelievable season and Anthony Bromley is some man at finding horses. I thought Petit Mouchoir ran a good race in second and the stiff finish at Cheltenham will suit him.

Footpad (right) jumps the last to beat Petit Mouchoir in the Irish Arkle on Saturday

Alain Barr

What else has impressed you this weekend with the Cheltenham Festival in mind?

Tom Bellamy I won the Towton on Ballyoptic at Wetherby. He has an entry in the RSA Chase as well as the Stayers’ Hurdle. He’ll be better on better ground. He was rated 164 over hurdles a couple of years ago and if he can reach that sort of level over fences he would have every chance in the RSA. He didn’t ride like a novice.

Charlie ­Longsdon I thought Terrefort was very good and tough in the Scilly Isles. He’s only five and looks to have a great way of going. He slammed one of mine first time out at Huntingdon who is a very nice type, so he has to be a proper 155-plus horse and will be very competitive in whichever race his owners run him at Cheltenham.

Robbie Power Samcro, obviously. It won’t happen, but if he turned up in the Champion Hurdle I would deliver him a huge chance. He’s a banker in the Ballymore. I thought Monalee put up a brilliant performance too after coming back from a heavy fall at Christmas.

Tim Smith Zero points for originality but festival regular Tully East caught the eye in the big handicap chase and he should go close in the Brown Advisory & Merriebelle Stable Plate. He made a couple of clumsy blunders on Saturday but he still arrived full of running between the last two fences and another couple of furlongs at Cheltenham will deliver him a bit more time to find his rhythm.

Evan Williams Blackbow, who won the bumper at Leopardstown on Saturday. He would have to be a serious player for the Champion Bumper at Cheltenham. It looked a strong race as the second and third, Rhinestone and Brace Yourself, are nice types.

Ballyoptic (left) beats Vintage Clouds in the Towton Novices' Chase at Wetherby on Saturday

Martin Lynch

What do you like the look of in Saturday’s Betfair Hurdle?

Tom Bellamy Kalashnikov is a progressive novice. This will be his handicap debut and he looks very decent. I thought he kept to his task well in the Tolworth even when he was beat. He looks like a tough horse, which you need in a big handicap.

Charlie ­Longsdon There wouldn’t be a dry eye in the house if Lalor were to win and I really hope he can go close. But the two horses I like the look of are Jenkins, who will be running off a mark of 143 when his new handicap mark is 151. I also rate Kalashnikov as a horse with a massive future, so if the ground dries up a bit and Amy Murphy decides to run he would be a good each-way bet.

Kalashnikov is well fancied for Saturday's Betfair Hurdle

Martin Lynch

Robbie Power Bleu Et Rouge. He caught my eye at Ascot before Christmas and could take a bit of stopping.

Tim Smith Donald McCain’s revival is one of the most heartwarming stories of this season and Waterlord looks overpriced to continue the yard’s fine recent run. He eventually paid the price for going toe-to-toe with a good novice in desperate ground at Haydock but his understandably weak finish allows him to sneak in here off 135 and I’m sure I’ve bet worse 33-1 pops.

Evan Williams I’m praying our grey Silver Streak can sneak into the race. He needs a few to come out but would relish the hurly-burly of a big field and could end up being a big price at 16-1. He has run very well on his last two starts in big handicaps and with his progressive form deserves to take his chance.

Members can read the latest exclusive interviews, news analysis and comment available from 6pm daily on racingpost.com

Sat, 16 Jul 2022 12:00:00 -0500 en text/html https://www.racingpost.com/news/supasundaes-jockey-robbie-power-joins-the-panel-to-discuss-the-weekend-action/318410
Killexams : Network Forensics Market Gross Margins, Strategies and Forecast 2021-2027 | ManageEngine (US), LogRhythm, In

Astute Analytica released a new research report on the global Network Forensics Market The worldwide Network Forensics Market report 2027. is a thorough investigation that examines the current Network Forensics Market trends. The report consists of market definitions, market segmentation, end-use applications, and industry chain analysis. In addition, it offers a succinct overview of the market. The study on the global market offers an overview of the market encompassing the competitive environment, current market developments, and industry trends.

The global network forensics market size is expected to grow from an estimated value of USD 1.3 billion in 2022 to USD 2.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 11.2% from 2022 to 2027.

The competition study provides information about the major players in the Chinese market in terms of their financials, company profiles, product portfolios, and capacity. Along with the important development trends and sales channel research, the report also offers upstream raw material analysis and downstream demand analysis. The global research study also covers the investment opportunity areas.

Professional services segment to grow at a higher CAGR during the forecast period

Professional services include consulting, training & education, design and integrations, and maintenance & support. The professionals use the latest techniques, comprehensive strategies, and skills to fulfill the security requirements of the organization. The vendors offer threat intelligence, risk assessment, and forensics analysis, among other services, via industry-defined best practices. With rapid digitalization and changing regulatory norms, customers need continuous guidance from network forensics solution implementation experts. This expertise helps consumers design customized solutions for their business processes and be aware of the return on investment (RoI) made by them in their security platform.

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An on-premise segment to account for a higher market share during the forecast period

The on-premises deployment is the traditional approach in which solutions are implemented and operated from customers’ in-house servers across enterprises. On-premises solutions provide organizations with full control over all the platforms, applications, systems, and data, which can be handled and managed by their own IT staff. An organization where user credentials are critical for business operations would have on-premises deployment as the systems are controlled by the organization itself. Due to COVID-19, the demand for cloud-based services has significantly increased due to the highly adopted trend of remote work. This has impacted the revenue generated by the network forensics on-premise solutions. However, on-premises deployment mode plays a significant role in safeguarding a company’s crucial information from cyber intruders. Therefore, it is expected to dominate the network forensics market during the forecast period.

Asia Pacific to grow at the highest CAGR during the forecast period

Asia Pacific: With effective government regulations and technological advancements, the network forensics market is witnessing tremendous growth opportunities in this region. Various developments are taking place in the Asia Pacific region concerning the adoption of forensics technologies, such as network forensics tools, BI compliance tools, cloud, analytics, and rapid infrastructure development. . Increasing advancements in mobility and cloud adoption and growing mandatory compliances with government regulations to resolve data security issues have forced enterprises to adopt network forensics solutions.

Breakdown of primaries:

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the network forensics market.

  • By company type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
  • By designation: C-level: 40%, Manager and Other: 60%
  • By region: APAC: 45%, Europe: 35%, North America: 20%

Major vendors offering network forensics solutions includes: Fireeye ([now Trellix], US), Cisco Systems (US), IBM Corporation (US), Broadcom Inc. (US), NETSCOUT Systems, Inc. (US), RSA Security, LLC (US), VIAVI Solutions (US), Novetta Solutions, LLC (US), SolarWinds Corporation (US), Palo Alto Networks, Inc.(US), SonicWall (US), OpenText Corporation (Canada), ManageEngine (US), LogRhythm, Inc. (US), NIKSUN (US), Corelight, Inc. (US), Securonix (US), and VectraAI, Inc. (US). Some emerging startups, such as LiveAction (US), Vehere, Inc. (US), Cysight.ai ([IdeaData], Israel), CorCystems (US), GrayLog, Inc. (US), and Endace Ltd. (New Zealand).

The study includes an in-depth competitive analysis of the key players in the network forensics market, with their company profiles, recent developments, and key market strategies.

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Research Coverage

The report segment the network forensics market and forecast its size, by value, based on component (solution (software, hardware), professional services), deployment mode (cloud, on-premises), organization size (SMEs, large enterprises), application (endpoint security, datacenter security), vertical (BFSI, government and defense, retail, IT and ITeS, manufacturing, telecommunications, transportation and healthcare) and by region (North America, Europe, Asia Pacific, MEA, and Latin America).

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report

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Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

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