About Centrify

Centrify delivers Zero Trust Security through the power of Next-Gen Access. The Centrify Zero Trust Security model assumes that users inside a network are no more trustworthy than those outside the network. Centrify verifies every user, validates their devices, and limits access and privilege. Centrify also utilizes machine learning to discover risky user behaviour and apply conditional access — without impacting user experience. Centrify’s Next-Gen Access is the only industry-recognized solution that uniquely converges Identity-as-a-Service (IDaaS), enterprise mobility management (EMM) and privileged access management (PAM).  Over 5,000 worldwide organizations, including over half the Fortune 100, trust Centrify to proactively secure their businesses.

Centrify is a registered trademark of Centrify Corporation in the United States and other countries.  All other trademarks are the property of their respective owners.

For Centrify media assistance in Australia or New Zealand, call John Harris at Impress Media on +61 8 8431 4000 or email john@impress.com.au.

Centrify CEO Tom KempCentrify CEO Tom Kemp

Centrify, a leading provider of Zero Trust Security through the power of Next-Gen Access, has reported results of a new research study with Dow Jones Customer Intelligence that reveals a startling misalignment between CEOs and technical executives which is weakening enterprise cybersecurity.

The report, CEO Disconnect is Weakening Cybersecurity, highlights that CEOs incorrectly focus on malware, creating a misalignment between them and executives with technical expertise that escalates risk and prevents organisations from effectively stopping breaches.

Technical executives on the front lines of cybersecurity, such as CIOs, CTOs and CISOs, point to identity breaches – including privileged user identity attacks and default, stolen or weak passwords – as the largest threat, not malware. As a result, cybersecurity strategies, project priorities, and budget allocations don’t always match up with the primary threats nor prepare companies to stop most breaches.

These findings are particularly relevant to Australia where mandatory Notifiable Data Breach legislation took effect last week and financial institutions earlier this month began implementing real-time payments by customers using the New Payments Platform, inviting greater emphasis on identity protection.

Centrify Senior Director for APAC Sales Niall KingThis month’s launch of Australia’s New Payments Platform is likely to increase the risk of fraudsters seeking to exploit the availability of real-time bank payments warns cybersecurity specialist Centrify.

Centrify, a leading provider of Zero Trust Security through the power of Next-Gen Access, enables more than 5000 organisations globally, including over half the Fortune 100 in the US, to proactively secure their businesses.

Launched publicly last week, the New Payments Platform (NPP) provides Australians with the ability to send each other money in “real time”, through a new system for settling transactions between banks assisted by the Reserve Bank of Australia.

The NPP will allow customers of as many as 60 financial institutions to link their bank details to a PayID, so they can hand out their phone number or email address to receive payments instead of number-based bank account details. The first product built on the platform is Osko, a person-to-person payment utility from BPay.

However Centrify’s Senior Director for APAC Sales Niall King has advised Australian consumers and businesses to review their security practices before using NPP-enabled services. “Security is the price we pay for convenience,” he said.

Centrify Senior Director APAC Sales Niall KingAustralian executives and company directors will face increased professional responsibility for overseeing cybersecurity when Australia’s mandatory data breach notification law takes effect this month warns Centrify.

Centrify, delivering Zero Trust Security through the power of Next-Gen Access, notes that recent events demonstrate clearly how publicised data breaches can damage corporate value.

Last year, US credit monitoring agency Equifax saw its share price drop by 13 per cent after it reported a data breach affecting about 143 million Americans. In 2016, Yahoo suffered a $350 million reduction in its sale price to Verizon after reporting two massive data breaches affecting one billion accounts.

Centrify Senior Director APAC Sales Niall King said those incidents alone should grab the attention of executives and directors. “The salient point is that these are not isolated events,” he warns.