Thursday, October 29, 2020

Investors Looking to Capitalize on the CyberSecurity Trend Should Consider GlobeX Data Ltd. (OTCQB:SWISF) (CSE:SWIS)

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The global cyber security market size was valued at USD 156.5B in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 10.0% from 2020 to 2027.

Cyber security and defense against online threats undertake greater significance in today’s digital changing landscape. It has become vital amid organization due to rapidly increasing frauds, cybercrimes, risk, threats, and vulnerabilities. Disruptive and emerging technologies in banking, retail, information technology, defense, and manufacturing sectors have offered new capabilities, facilitated automation, and offered ease of working in the recent past. However, these technologies have also emerged as a potent factor in the development of the global threat landscape of exploits, vulnerabilities, and malware. The emerging threat landscape is observed with an increased number of cybercrime activities in the global digital era.

WhatsApp Warning For Millions Of iPhone Users As ‘Delete For Everyone’ Fails To Work. WhatsApp’s “Delete for Everyone” feature, meant to allow people to delete files they accidentally sent, works differently on iPhones than it does on Android phones, a researcher has warned. This discrepancy could place senders’ privacy at risk by leaving some media files undeleted on recipients’ iPhones.

WhatsApp has a vast install base of 1.5 billion users in over 180 countries. Most WhatsApp customers use the service daily, including for group chats with friends, family members or co-workers. Such a popular service is subject to scrutiny from privacy activists and cybersecurity researchers.

Most recently, researcher Shitesh Sachan has raised a red flag regarding WhatsApp’s functionality – specifically, a discrepancy surrounding the “Delete for Everyone” feature on iPhones (iOS) and Android devices. According to Sachan, the feature doesn’t delete media files sent to iPhones of users who have the “Save to Camera Roll” setting on. While the message containing the deleted file does disappear for everyone in the group chat, regardless of platform, if any iPhones in the group chat have “Save to Camera Roll” set to On, the files stay with the recipients.

GlobeX Data Ltd. (OTCQB:SWISF)(CSE:SWIS) is a Cybersecurity and Internet privacy provider of Swiss hosted solutions for secure data management and secure communications. The Company distributes a suite of secure cloud-based storage, disaster recovery, document management, encrypted e-mails, and secure communication tools. GlobeX Data Ltd. sells its products through its approved wholesalers and distributors, and telecommunications companies worldwide. GlobeX Data Ltd. serves consumers, businesses and governments worldwide.

GlobeX Data Ltd., the leader in Swiss hosted cyber security and Internet privacy solutions for secure data management and secure communications recently announced that it is ready to launch its Sekur encrypted email and messaging security solution in August 2020. GlobeX will launch Sekur.com and its applications on the iOS AppStore and Google Play marketplace for Android devices at the same time.

Demand for Sekur has been building up as consumers and businesses are looking at protecting their personal and business emails in light of increased BEC attacks and email phishing attacks. The Company is working with several marketing companies in order to identify premium consumers and business targets in the USA for direct email campaigns. The first marketing test campaign is planned to start in the second half of August with approximately 50,000 identified users. Cost for this marketing company is expected to be USD 3500 for the campaign and a credit card processing fee of approximately USD 0.70/account sold. Sekur will launch 3 pricing plans to start with more plans to follow. The plans are: SOLO, for single users at USD 9.99/month or USD 99.90/year; Team for up to 5 users at USD 59.99/month and USD 599.90/year and SME for up to 25 users at USD 299.99/month and USD 2,999.90/year. Both TEAM and SME plans come with private company domain registration and full migration of business emails from other ISP providers to the SekurMail platform and administrative features for businesses. Other features for business users will be developed as the solution evolves.

According to Campaign Monitor, a leading Email Marketing company, the email open rates can vary depending on the subject line and the relevancy of the subject matter at an average open rate of 17.80%. The Click-through rate averages 2.6% of the open rate. Should the Company achieve similar results, the Company will increase its budget to target 1,000,000 users in order to acquire approx. 4,628 users generating monthly gross revenues of USD 46,233 and monthly net revenues of USD 42,994. The cost of acquiring the 1 million emails would be USD 35,000. Total acquisition cost at this conversion rate would be USD 38,290, generating a profit within the first month of the campaign.

Sekur is the Company’s Swiss hosted secure communications suite, which includes encrypted messaging with self-destruct timer powered by the Company’s and an encrypted email service. The Company plans to push the Sekur brand as a secure communications suite in addition to its existing DigitalSafe brand which is the Company’s document management and collaboration suite. Sekur will include 100GB of email and message storage and encrypted messaging with self-destruct timer. All data is hosted in Switzerland for ultimate privacy. Sekur will also come in other versions, Sekur Messenger for encrypted messaging only, Sekur Email which will only have encrypted email. Future releases of Sekur including voice and video encryption and video conferencing will be deployed in the next 12 months and will have different price points.

The service will include the Company’s proprietary and newly branded features called SekurSend® and SekurReply® anti-phishing encrypted email solution. SekurSend® lets a user send an email to any other recipient, whether they have Sekur or not, in full privacy and security as the email never leaves Sekur’s encrypted email servers based in Switzerland. The recipient can then click on the notification and reply in the same manner using SekurReply®, without the recipient having to purchase Sekur. This is also a guarantee to eliminate BEC attacks for businesses and email phishing attacks. Additionally, Sekur will include the Company’s latest technology, which include full control of email delivery, data export for SMB and large Enterprises and an automatic Data Loss Prevention technology (“DLP”) with real time continuous archiving.

One of the many Privacy and security features of Sekur is that the user does not register with their phone number, eliminating a huge loophole in security and privacy. Just recently, according to an article written by Lindsey O’Donnell and posted on the website threatpost.com on June 5 2020, it was disclosed that WhatsApp phone numbers and users were searchable on Google, creating a massive security and privacy breach. Earlier in the year, an article was written about a similar flaw affecting all businesses, NGOs, UN and non-profit organizations, where WhatsApp Group members were also compromised and searchable in a reverse engineering trick done on Google.

Recent data breaches in messaging applications and in particular in the WhatsApp application have created a certain urgency for businesses to protect their communications form cyber-attacks and identity theft via mobile devices.

Sekur eliminates many of the privacy and security risks by not only not requiring a phone number, which would divulge a user’s phone device ID, but also by not social engineering a user’s phone or computer contact list and infecting the contacts by default as well. Sekur issues each user a username and a SM number. The SM number is the contact ID a user would disclose in order for other SM users to be added. The service comes with a self-destruct timer and other features as well, including GlobeX’s proprietary VirtualVaults and HeliX technologies with all data stored in Swiss hosted encrypted servers.

GlobeX’s Data privacy solutions are all hosted in Switzerland, protecting users’ data from any outside data intrusion requests. In Switzerland, the right to privacy is guaranteed in article 13 of the Swiss Federal Constitution. The Federal Act on Data Protection (“FADP”) of 19 June 1992 (in force since 1993) has set up a strict protection of privacy by prohibiting virtually any processing of personal data which is not expressly authorized by the data subjects. The protection is subject to the authority of the Federal Data Protection and Information Commissioner.

Under Swiss federal law, it is a crime to publish information based on leaked “secret official discussions.” In 2010 the Federal Supreme Court of Switzerland found that IP addresses are personal information and that under Swiss privacy laws they may not be used to track Internet usage without the knowledge of the individuals involved.

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