Decentralized digital access solution promises ransomware prevention

Based on system segmentation, access decentralisation, strong password generation, multi-level credentials security and end-to-end password encryption, MyCena’s patented solution embeds a complete cyber-resilience strategy to counter phishing and ransomware attacks.

United Kingdom – September 23, 2021 /MarketersMedia/ —

As cyberattacks on companies and governments continue to grow worldwide, research by Roland Berger, a consultancy, reveals it will cost the world 6 trillion dollars in losses in 2021 alone. To curb this trend, MyCena developed a complete system of security, control and management for decentralizing access to counter ransomware and phishing attacks.

Today, 89% of computer breaches are still related to weak, reused or stolen passwords, according to the Verizon Data Breach Investigation Report from 2021. To work around the problem of remembering many passwords, companies have used centralized access solutions like SSO (Single Sign-on), PAM, IAM and password managers. But contrary to what many think, these tools have also created the perfect environment for rapid network contamination to propagate ransomware. Through a single access breach, cybercriminals penetrate systems, move laterally, escalate privileges, take control of networks, infect third parties, encrypt files and launch ransomware attacks. Within days, they can infect thousands of third parties in a supply chain ransomware attack as in the case of Solar Winds or Kaseya.

As many companies pay ransoms to minimize disruptions, these low-risk high-return attacks have fuelled a growing demand for combinations of single access credentials, and an increase in the scale and impact of ransomware and supply chain attacks.

“Centralised access has massively exposed companies to network-wide contamination. On the contrary, decentralizing access means that there is not a single access point from which criminals can enter to infect the entire network,” explains O’Toole, founder and CEO of MyCena Security Solutions. “We basically go back to what we know in the physical world: one door, one key. If a credential is stolen in a third-party breach, the other credentials stay safe,” says the company’s founder.

To protect companies’ secrets, MyCena’s patented system embeds a comprehensive cyber-resiliency strategy that automates system segmentation, creates strong unique passwords per system and per user, and distributes encrypted credentials to the right users in real time. The tool also provides decentralization and protection of credentials, auto-filling of encrypted passwords into the right systems, recording of credential events, all without people creating, memorizing, typing, or viewing any password, which removes the risks of password errors, fraud, and phishing.

Implement for security, use for productivity
Not having to create or remember passwords means no more password resetting for IT teams and no more wasted time waiting for a new password. “People no longer have to choose between remembering passwords and single access, between security and convenience”, adds O’Toole. “To work, security should be embedded in the digital workspace and be effortless for users, as it is in the factory or office space. MyCena gives you as many passwords as you need without having to create or see any. And that is a game-changer.”

The key benefits of using MyCena decentralized digital access are: better access control and management system to protect the entire enterprise from cyber-attacks and ransomware; better cyber resilience; more productivity; substantial IT support costs savings; personal and proprietary data protection; compliance with data privacy laws to avoid fines over GDPR and LGPD implementation and rapid system deployment without the need for infrastructure change in companies.

About MyCena
Founded in 2016, MyCena Security Solutions is the market leader in decentralized access management solutions. Its patented security system embeds a comprehensive cyber-resilience strategy based on system segmentation, access decentralisation, strong password generation, multi-level credentials security and end-to-end password encryption, and safeguards businesses and governments against phishing, ransomware, and supply-chain attacks. To learn more visit: https://mycena.co/.

Contact Info:
Name: MyCena Security Solutions
Email: Send Email
Organization: MyCena Security Solutions
Address: 24 Holborn Viaduct, London EC1A 2BN
Phone: +44 7778676303
Website: https://mycena.co/

Source URL: https://marketersmedia.com/decentralized-digital-access-solution-promises-ransomware-prevention/89046498

Source: MarketersMedia

Release ID: 89046498