CyCraft Partners with Japanese IT Giant ITFOR to Deploy AI-Enabled Infosec Resilience in Finance Industry

Taiwan-based information security company CyCraft today (2021/6/10) announced its Japanese subsidiary CyCraft Japan Inc. Ltd. has officially entered into a partnership with ITFOR Inc., a publicly listed company specializing in IT and network services total solutions, to authorize the distribution of CyCraft AIR information security products by ITFOR Inc.

The company shall also provide customers with Incident Response (IR) and Enterprise Security Health Check Services to strengthen the resilience of information security in the Japanese financial industry, the firm said in a press release.

With the spread of new remote working environments brought about by the global COVID-19 pandemic, the potential risks of telecommuting, and the blurring of physical boundaries, the financial industry has been on the frontlines, facing the threat of increasingly serious Advanced Persistent Threats (APT) and ubiquitous ransomware infections. ITFOR Inc. was founded in 1972 as an information service provider dedicated to creating total information and communication solutions for the financial industry, public institutions, retail, e-commerce and more. The company has an overwhelming market share in debt collection systems used in the financial industry, and therefore, this strategic partnership with CyCraft is a joint effort to enhance information security and create a new and secure working environment for financial industry customers.

The CyCraft AIR series of products have twice outperformed in the MITRE ATT&CK® authoritative evaluations, and stands out with its exemplary AI automatic detection capabilities. The latest round of evaluation results, which was just released in April 2021, simulated the attack on financial institutions by FIN7 and Carbanak hacker groups to validate real-world capabilities of various information security products. CyCraft AIR had the highest signal-to-noise ratio (96.15%) among 29 major international vendors, and has achieved two consecutive years of out-of-the box detections with zero latency, thus attesting to the absolute advantages of fully automated AI for rapid response and accurate automated analysis results. CyCraft AIR is also eye-catching in its flexibility: it can be deployed in the cloud or on demand, helping enterprises to grasp the latest holistic information security situation on a large scale.

James Cheng, Chief Operating Officer of CyCraft Japan, noted, "Building off of our sustained excellence in the MITRE ATT&CK evaluations and detection and response space, CyCraft has also been utilized in many emergency investigations in Japan. In addition, more than 30% of financial institutions in Taiwan are current CyCraft clients, empowering CyCraft's deep knowledge and unparalleled experience in information security applications for the financial industry. The partnership with ITFOR Inc. is not only to actively expand overseas markets, but also to become a reliable information security backbone for Japanese financial institutions with deep-rooted information security best practices and insights in the financial sector."

Makoto Haneda, Communication Systems Director of ITFOR further pointed out, "The threat of cyber attacks is increasing, and even enterprises and critical infrastructure systems, which are considered to have strong information security measures in place, are constantly threatened by attacks. Therefore, it must be said that conventional information security technologies are becoming inadequate in the face of new and dynamic threats. CyCraft AIR utilizes the latest advanced AI technology to achieve effective detection and analysis without human intervention. In order to enhance local economies and promote regional revitalization with IT technology, this partnership between ITFOR and CyCraft will provide a leading information security platform that can withstand powerful attacks and significantly improve the information security defenses of businesses."