HERZLIYA, Israel, Nov. 08, 2021 (GLOBE NEWSWIRE) — Safe-T® Group Ltd. (Nasdaq, TASE: SFET) (“Safe-T”), a global provider of cyber-security and privacy solutions to consumers and enterprises, announced today it has completed development of an advanced ransomware protective layer for its iShield™ consumer and small and midsized business (“SMBs”) product.
The new embedded anti-ransomware feature was designed to protect consumers and SMBs from some of the most common forms of ransomware threats and attacks including social engineering, malware-infected advertising, drive-by infections and traffic distribution systems.
“Safe-T is committed to providing its customers with powerful and effective cybersecurity and privacy solutions, bringing enterprise-grade capabilities to consumers and SMBs. That is why we are so excited to offer this advanced protective layer in iShield™ which will equip our customers with a more robust defense against the rise in ransomware attacks,” stated Shachar Daniel, Co-Founder, and Chief Executive Officer of Safe-T Group Ltd. “Adding this new anti-ransomware feature in iShield™ is another important step in our efforts to expand our consumers products proposition, with an even greater ability to secure sensitive data and information from cybertheft.”
Over just the past year, more than 495 million ransomware attacks have been logged by SonicWall, a leading publisher of ransomware threat intelligence, making 2021 the most costly and dangerous year on record. Dollar losses from ransomware attacks are estimated to increase in severity as well according to Cybersecurity Ventures who predicts ransomware attacks will cost victims $265 billion annually by 2031. This equates to 30% year-over-year growth in damage costs over the next ten years.
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments, tailoring solutions according to specific needs. The segments include enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions.
Our cyber-security and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats as well as a powerful, secured and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for advanced and basic users, ensuring full personal protection for all personal and digital information.
ZoneZero® cyber-security solutions for enterprises, designed for cloud, on-premises and hybrid networks, mitigate attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organization’s access use cases, whether from outside the organization or within the organization, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust.
Our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network is the only one that comprises of both millions of residential exit points and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability and the speed of the service.
For more information about Safe-T, visit www.safetgroup.com.
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses the advantages of the ransomware protective layer added to its iShield™ product, the ability of the added ransomware protective layer to provide consumers with greater ability to secure their sensitive data and information from cybertheft, the estimated losses from ransomware attacks and growth in damage costs from the ransomware attacks. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 22, 2021, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Safe-T is not responsible for the contents of third-party websites.
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