Veracity Trust Network awarded Singapore’s CyberCall grant
Veracity Trust Network is delighted to announce that we have been awarded the Cybersecurity Co-Innovation and Development Fund (CCDF) – CyberCall grant – by the Cyber Security Agency Singapore (CSA).
The CyberCall grant will be used to develop and deliver the next generation of our technology, providing advanced malicious bot detection working in collaboration with a global efashion retailer headquartered in Singapore.
Veracity was selected based on our ‘Beyond the Edge’ technology that utilises real-time behavioural analysis to detect and block even the most complex bots.
Veracity group CTO Stewart Boutcher, who has overall responsibility for the APAC region, was presented the CyberCall Innovator award by David Koh, Commissioner of Cybersecurity & Chief Executive of CSA who, in his introduction to the awards, commented: “Innovative Cybersecurity companies are vital to a thriving Cybersecurity ecosystem. My warmest congratulations to the winners of the 2023 CyberCall: all these companies are pushing the boundaries of cybersecurity innovation.”
David Koh and Stewart Boutcher are pictured above at the Cybersecurity Innovation Day 2024 awards
The issue of malicious bots is a growing one, they are becoming more sophisticated and using newer technology to avoid traditional methods of detection. Malicious bots are a concern to business and brands as they seek to steal data, set up fake accounts, disrupt inventory, plant ransomware, and distort analytics.
Data from Veracity shows that around 30% of all website visits are malicious bots looking to exploit weaknesses and cause harm.
Veracity‘s solution works on the client-side, rather than at the firewall layer. This enables our technology to analyse micro-behaviours, reducing false positives while enhancing an organisation’s cybersecurity posture.
It uses artificial intelligence (AI) and machine learning (ML) to protect against sophisticated human-spoofing bots and leverages more than six years’ worth of behavioural data gathered by us.
The CyberCall grant encourages collaborations between cybersecurity companies and end-users by facilitating the matching of industry proposals to end-user challenges and supports the co-development of innovative cybersecurity solutions in Singapore.
Nigel Bridges, Group CEO of Veracity, said: “The problem of malicious bots is serious and getting worse as technology advances. It’s a major issue that is growing in scale, sophistication and damage, with serious negative impact on all online organisations. In general, we as an industry, have been losing this particular arms race.
“Veracity was created to try to break the cycle and get ahead of malicious actors. This has clearly been recognised by the CSA, and we are honoured to have been selected by them,” he added.
Stewart Boutcher, who is project lead, also added: “Working on the CyberCall project has been critical to support our innovative approach in using AI and machine learning to detect and prevent even the most sophisticated human-spoofing bots for a common good.
“Being at the heart of the Singaporean cybersecurity ecosystem will aid our continued goal to ensure we stay ahead of the bad actors that produce these malicious bots,” he said.
About Veracity Trust Network
Veracity Trust Network is an award-winning cybersecurity company, specialising in the detection and prevention of malicious bot activity in the web sphere: websites, web and mobile-web applications and APIs, with native mobile protection to follow.
Veracity Trust Network is expanding the boundaries of the application of ML to enhance the speed and accuracy of malicious bot detection on the web.
We are award winning, tech-led, and solution-focused: https://veracitytrustnetwork.com
About the Cyber Security Agency of Singapore
Established in 2015, the Cyber Security Agency of Singapore (CSA) seeks to keep Singapore’s cyberspace safe and secure to underpin its Nation Security, power a Digital Economy and protect its Digital Way of Life.
It maintains an oversight of national cybersecurity functions and works with sector leads to protect Singapore’s Critical Information Infrastructure. CSA also engages with various stakeholders to heighten cybersecurity awareness, build a vibrant cybersecurity ecosystem supported by a robust workforce, pursue international partnerships and drive regional cybersecurity capacity building programmes.
CSA is part of the Prime Minister’s Office and is managed by the Ministry of Digital Development and Information.
For more news and information, please visit www.csa.gov.sg
