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ROI Route 1 Inc

0.055
-0.005 (-8.33%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Route 1 Inc TSXV:ROI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.005 -8.33% 0.055 0.06 0.065 0.06 0.055 0.06 50,000 19:39:27

Route1 Comments on the Impact of Recent, Significant Data Security Events

23/04/2014 2:00pm

Marketwired Canada


Route1 Inc. (TSX VENTURE:ROI), a leading provider of secure access technologies
for the mobile workspace that protects businesses and government agencies and
whose customers include the U.S. Department of Defense, the Department of
Homeland Security, the Department of Energy and the Government of Canada, today
released a statement on recent, important developments pertaining to corporate
data security and Enterprise Mobility Practices.


NJ Court Ruling: FTC Authority 

On April 7, 2014, U.S. District Judge Esther Salas of New Jersey affirmed that
the Federal Trade Commission could proceed with its lawsuit against Wyndham
Worldwide Corp. as a result of the company's failure to safeguard customer
information, which resulted in multiple breaches of personal information. The
ruling is a significant step towards holding organizations legally liable for
failing to implement and enforce proper security controls for sensitive data.


As part of its thought leadership program, Route1 routinely speaks with its
senior-level government and private sector clients to identify trends and
emerging challenges in the market. As a result of these interactions Route1
issued a white paper on the possible legal implications of BYOD security policy
in September 2013. Judge Salas' decision reinforces the assertions made in the
white paper: poor data security policy will ultimately lead to legal action
against an organization.


Tony Busseri, Route1 CEO, noted, "The New Jersey court's ruling confirms our
assertion that legal consequences are a very concrete risk that organizations
accept when settling for inadequate data security measures. As evidenced by
Judge Salas' decision, proper technological controls must be put in place to
ensure the security of sensitive information. Information Security can affect
the financial well-being of the entire organization and thus ceases to simply be
an IT function. Boards and executive management teams can no longer ignore the
topic." 


In pursuit of increased productive enterprise mobility initiatives are often
rolled out without proper consideration of the two most common risk vectors
leading to data breaches: Lost or stolen devices and USB sticks on one side, and
the propagation of malware or viruses via compromised remote assets on the other
side. Reducing these risks through policy has proven to be ineffective. Instead
we are seeing organizations seeking to implement technology that allows them to
unlock the productivity gains of BYOD and mobile access while neutralizing these
risk vectors. High assurance access to enterprise resources can be enabled
without actually downloading data to the remote devices. This way all sensitive
data stays within the enterprise network and its established security controls.
The cost effectiveness of this approach is self-evident. Instead of spending
time and money on managing and controlling the remote asset, you simply ensure
its identity, restrict its access and never let it cache or download anything.


The Heartbleed Bug: The end of single factor authentication

The New Jersey Court's decision coincides with the recent discovery of the
widespread Heartbleed Bug. The Heartbleed Bug is a flaw in the OpenSSL
open-source encryption implementation that is used across roughly two-thirds of
available Internet services and website. The full extent of the fallout from the
Heartbleed Bug is still unfolding, but it poses the very real possibility that
untold millions of usernames and passwords, that were used only once with a
vulnerable internet service are now in the hands of malicious parties.


Mr. Busseri continued, "Verizon just released its 2013 Data Breach Investigation
Report and confirms that stolen passwords are used by hackers in the majority of
data breaches. With Heartbleed we now have a situation where you need to assume
that all of the limited number of passwords your employees use have been
compromised on a web service that uses OpenSSL. Accordingly, you have to
implement multifactor authentication when granting mobile access to corporate
data. This is now a priority that simply cannot wait. Our customers continue to
belief that integration of smart card technology is the easiest, most
user-friendly, reliable and cost effective way to do so."


MobiKEY, Route1's flagship technology, meets all the named requirements. It
features a smartcard enabled, cryptographic USB device or smartcard reader to
ensure that employees leave no trace or evidence of their computing session when
remotely accessing sensitive data. All enterprise files stay within the
corporate network, simplifying security policy enforcement. Most importantly,
MobiKEY does not require any changes to your IT infrastructure; instead it
integrates with deployed technologies and can be rolled out in a matter of
hours.


If a MobiKEY is lost or stolen, enterprise networks cannot be compromised in any
way - unlike other portable devices that can be used to store sensitive data and
can easily put organizations at risk. Just as a cell phone service can be
suspended or cancelled when loss or theft occurs, digital certificates issued to
MobiKEY can be temporarily suspended or revoked.


By providing airtight protection against data loss, MobiKEY enables organization
to unlock the productivity gains of BYOD and mobile access without exposing them
to the embarrassing and costly effects of prolonged litigation. Ultimately,
MobiKEY provides enterprises with stability - technologically, legally and
financially.


Mr. Busseri adds, "Complex times do not require complex solutions but rather
simple ones that directly address the core problems of data security. Keeping
sensitive data within the enterprise network via MobiKEY is such a solution.
MobiKEY unlocks the productive gains that mobility promises without exposing
organizations to the risk of data loss or litigation."


ABOUT ROUTE1, INC. 

Route1 enables the mobile workspace without compromising on security. Its
flagship technology MobiKEY uniquely combines secure mobile access, with high
assurance identity validation and plug-and-play usability. Remote and mobile
workers are able to securely and cost effectively access their workspace from
any device without exposing the organization to the risk of data spillage or
malware propagation. MobiKEY customers include Fortune 500 enterprises as well
as the U.S. Department of Defense, the Department of Homeland Security, the
Department of Energy and the Government of Canada. Headquartered in Toronto,
Canada, Route1 is listed on the TSX Venture Exchange.


For more information, visit our website at: www.route1.com. 

This news release, required by applicable Canadian laws, does not constitute an
offer to sell or a solicitation of an offer to buy any of the securities in the
United States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is
available.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


(C) Route1 Inc., 2014. All rights reserved. Route1, the Route1 and shield design
Logo, SECURING THE DIGITAL WORLD, Mobi, MobiSecure, MobiLINK, Route1 MobiKEY,
Route1 MobiVDI, MobiKEY, MobiKEY IBAD, DEFIMNET, MobiNET, Route1 MobiNET,
TruOFFICE, TruFLASH, TruOFFICE VDI, MobiKEY Fusion, MobiNET Aggregation Gateway,
MobiNET Switching Array, MobiNET Secure Gateway, EnterpriseLIVE, EnterpriseLIVE
Virtualization Orchestrator, MobiNET Agent, MobiKEY Classic and MobiKEY Classic
2, are either registered trademarks or trademarks of Route1 Inc. in the United
States and or Canada. All other trademarks and trade names are the property of
their respective owners. The DEFIMNET and MobiNET platforms, the MobiKEY,
MobiKEY Classic, MobiKEY Classic 2 and MobiKEY Fusion devices, and MobiLINK are
protected by U.S. Patents 7,814,216 and 7,739,726, Canadian Patent 2,578,053,
and other patents pending. 


Other product and company names mentioned herein may be trademarks of their
respective companies.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Route1 Inc.
Tony Busseri
CEO
+1 416 814-2635
tony.busseri@route1.com
www.route1.com

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