WhiteHawk forms strategic alliance with Cybercrime Support Network

WhiteHawk ASX WHK Cybercrime Support Network
WhiteHawk is seeking to implement artificial intelligence and establish its own technological advances as an industry standard.

Cybersecurity advisory service WhiteHawk Limited (ASX: WHK) has announced a strategic partnership with the Cybercrime Support Network (CSN), a US-based public-private, non-profit collaboration to assist victims of cybercrime.

The CSN says that its mission is to improve the plight of Americans facing the ever-growing impact of cybercrime by bringing together national partners to support cybercrime victims.

One of the key aims is to raise awareness of the problem considering that only around 15% of cybercrime victims report the crime to appropriate authorities, according to the CSN.

The agreed partnership will see WhiteHawk becoming the response arm for all small and medium-sized businesses (SMBs) that contact the CSN requiring “cybercrime fraud response and mitigation services”.

The company says that it intends to offer a range of protections and support services but will also look to commercialise its service to generate revenue. To provide a suitable level of security and protection, WhiteHawk’s cyber consultants connect companies to effective response services to mitigate the impact to their business and enable them to find and purchase products, via the WhiteHawk Exchange.

The CSN was established to give a voice to companies impacted by cybercrime and support a coordinated response from federal, state and local law enforcement responders managing cybercrime events.

CSN is currently piloting several programs in the US to utilise existing referral infrastructure to “triage cybercrime reporting and response”, allowing these companies to report the crime and receive access to resources and support.

“We have to address the huge gap we have in both reporting online crime and fraud and effectively responding to and mitigating the impacts of cyber disruption to all. By putting this strategic partnership in place we are enabling both and most important of all preventing future criminal actions,” said Mr Terry Roberts, executive chairman of WhiteHawk.

Artificial intelligence and cybercrime support

Importantly, WhiteHawk is seeking to implement artificial intelligence and establish its own technological advances as an industry standard.

“Our online platform, patent-pending artificial intelligence tool, known as the CyberPath, is accessible and open to all businesses in need,” said Mr Roberts.

Having listed on the ASX earlier this year, WhiteHawk claims to be the world’s first cybersecurity exchange, with the company securing the first sale of its 360 Cyber Risk Framework via a US$325,000 (A$433,000) contract, earlier this month.

According to WhiteHawk, its technology provides users with a “cloud-based cybersecurity exchange platform” that delivers on-demand solutions for companies of all sizes, but with a specific focus on small and medium-sized businesses.

Its platform enables customers to leverage their custom security profile to find appropriate tools and content via specialised algorithms to improve awareness and improve the responsiveness of a company’s security measures towards cybersecurity vulnerabilities and threats.

“The CSN understands the needs of small and midsize businesses as they navigate the new cyber threats. Partnering with Whitehawk to support businesses during and after an incident will make our impact even stronger,” said Kristin Judge, CEO and president of CSN.

George is an award-winning market analyst who has authored articles and editorial opinion pieces for multiple publications around the world. He has written about a wide variety of topics including financial markets, stocks, trading, politics and economics.