Continuous Controls Monitoring becomes a requirement for ransomware mitigation

24 September 2021, London and New York: Panaseer, an enterprise security company, today announces key industry recognition and company developments that will accelerate its innovation and further enable organisations to understand and mitigate their cyber exposure.  

Threats such as ransomware or vulnerabilities, including FireEye or SolarWinds, are increasingly a concern across enterprises today. Ransomware volumes have recently hit record highs, with global attack volume increasing by 151 percent for the first six months of 2021, as compared with the same period last year. While investments in security continue to increase, it’s still challenging for most organisations to understand how well protected they are.  

According to Panaseer's research, enterprises are struggling to understand and mitigate key controls to guard themselves against current threats. Among those that do not engage in a Continuous Controls Monitoring programme, most enterprises suffer from:  

• Failure of key controls required to mitigate a successful ransomware attack .
• Vulnerabilities within standard builds they are unaware of .
• Critical business assets missing endpoint controls.

 To address visibility and mitigation challenges, Gartner has recently recognised two new security and risk categories, highlighting Panaseer as an inaugural vendor in both. Last year Continuous Controls Monitoring (CCM) was recognised within the Gartner Hype Cycle for Risk Management, 2020.  This year the Gartner Hype Cycles for Network Security and Security Operations, 2021, the new category of Cyber Asset Attack Surface Management (CAASM) was added to each. Gartner describes CAASM as ‘an emerging technology focused on enabling security teams to solve persistent asset visibility and vulnerability challenges.’   

With CCM and CAASM technologies, enterprises can address major security challenges, such as determining ransomware protection levels, enabling cyber exposure improvements based on investments and budget, and surfacing actionable business process security risk.   Panaseer is committed to maintaining its role as an innovator in security. In the last couple of months, the company has made a number of strategic investments that will enable it to continue to disrupt the security sector:

• Formation of a new division: Panaseer is launching a new ‘Security Performance Management’ division. It will be led by Charlotte Jupp, who has worked with Panaseer customers for over five years and has identified the opportunity to provide greater value to customers through this new function.  Committed to helping customers measurably improve their security status, this team will be available at no cost to customers. The division will be focused on helping customers drive improvement in their security posture through guidance on measurement and process best practices, providing recommendations to improve organisational security posture, and offering targeted assistance on how best to integrate and use Panaseer in support of these goals.
• Strengthening its Advisory Board: To further accelerate its innovation in CCM, Panaseer has appointed industry veteran Christian Adam to its Advisory Board. Christian has 22+ years of experience in protecting information assets for financial services and has established the concept of adaptive CCM, which enables organisations to organise, continuously measure, test, replace, and adapt their controls. 
• Appointment of a Chief Growth Officer (CGO):  Panaseer has appointed Brian Levin as its first CGO to enable the company to more effectively identify future areas of focus, investment, and innovation. Brian is a highly experienced go-to-market leader and will be bringing a new cross functional approach to scaling the business, whilst identifying and accelerating new growth opportunities. 

Jonathan Gill, CEO, Panaseer: “We are pleased to be announcing new ways of delivering more value to our customers. Organisations are under huge pressure, with a growing attack surface, increasing threat actors, new regulations and scrutiny from across their organisations.  These new investments will all contribute to helping our customers leverage our platform to prevent the preventable breach and help customers protect themselves against growing threats, such as ransomware. We are committed to keep our customers at the heart of Panaseer and the continued development of our people, processes and technologies, so our customers can mitigate their cyber exposure.”