FireEye Partnership Fuels US Cybersecurity Push

The U.S. has taken a serious stance in the fight against cybercrime, and a new partnership between cybersecurity firms FireEye and Cybergy Partners is aimed at aiding that effort.

The companies announced yesterday (Aug. 31) that Cybergy Labs, a subsidiary of Cybergy Partners, has been selected as a FireEye Fuel Partner.

The partnership will also support Cybergy Partners’ proprietary SmartFile — an electronic tagging system that allows users to monitor who accesses any tagged file, where, and how often — which is being offered within a suite of cybersecurity products in the FireEye Threat Prevention Platform.

“We’re very excited about this new stage in our cybersecurity development plan. Taken together, FireEye products and services and SmartFile can provide both protection against the more dangerous types of cyber threats faced by organizations as well as safeguarding their intellectual property,” Mark Gray, Chairman and CEO of Cybergy, said in a company release.

The Multi-Vector Virtual Execution (MVX) engine, which powers FireEye’s platform, analyzes a computer’s network in real-time to detect cyber threats. The platform’s cloud-based Dynamic Threat Intelligence (DTI) network allows these findings to be shared instantly across FireEye’s global network. Incident response and endpoint security services are also offered via FireEye’s member company, Mandiant.

The new partnership will give Cybergy Partners’ customers full access to FireEye’s suite of products and services. According to the company release, Cybergy’s SmartFile electronic tagging system goes hand-in-hand with FireEye’s MVX platform.

“We believe that having the best-in-class tools provided by FireEye along with the investigation services of Mandiant strengthen the value case of SmartFile. Using SmartFile as an early warning detection system, our customers have a new tool in their cybersecurity tool chest. SmartFile takes cybersecurity protection to a new level,” said Wyly Wade, Chief Technology Officer of Cybergy Labs and Cybergy Partners.

An onslaught of cyberattacks on both public and private entities has prompted the Obama Administration to make cybersecurity a priority.

Prior to the White House Cybersecurity Summit at Stanford University held earlier this year, the White House issued the following comment:

“Cybersecurity is a shared responsibility. The Federal government has the responsibility to protect and defend the country and we do this by taking a whole-of-government approach to countering cyber threats. This means leveraging homeland security, intelligence, law enforcement, and military authorities and capabilities, which respectively provide for domestic preparedness, criminal deterrence and investigation, and our national defense.”

Following the declaration that international cyber threats constitute a “national emergency,” President Obama declared that the U.S. would seek sanctions on those who launch cyberattacks on U.S. businesses.

The first example of this may happen in the coming weeks, as the U.S. government is reportedly considering holding the Chinese companies and individuals who have benefited from their government’s cyber theft accountable through economic sanctions.

According to several administration officials, who reportedly spoke to The Washington Post under the condition of anonymity, the U.S. government will make a final decision soon on whether it will finalize the package of economic sanctions it has drafted against China.

To check out what else is HOT in the world of payments, click here.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

Click to comment