Even with the Labour Day weekend there have been some notable nuggets in the GRC space. IBM extended the reach of its GRC offerings with the acquisition of Algorithmics, Compliance 360 adds new elements to its GRC offering, Norton updates its anti-malware software with its new 2012 range, while it also gives an estimate of the cost of malware attacks globally every year.
IBM Buys Algorithmics
IBM has been on the acquisition trail again. It bought two companies over the past week, one of which is the Canadian-based Algorithmics for the relatively paltry sum of US$ 387 million.
While the buy is again in the analytics space, it is analytics of a particular kind with GRC in the financial space being the principal functions of the software produced by Algorithmics.
It expands IBM’s portfolio of products in the area of financial risk assessment across a range of financial risk domains, and, significantly, IBM cites the acquisition of OpenPages last year as fitting nicely with this particular buy.
Algorithmics offers enterprises the ability to measure and assess operational risk associated with lending processes, market and credit risk exposures. Interested in more?
Compliance 360’s new elements
Compliance 360 has also been busy this week, and has announced that it has incorporated the Seven Elements of Effective Compliance and Ethics Programs outlined by the U.S. Sentencing Commission, into the Compliance 360 system.
We had to look this one up, but here’s what the sentencing commission does:
… establish sentencing policies and practices for the federal courts, including guidelines to be consulted regarding the appropriate form and severity of punishment for offenders convicted of federal crimes..”
Hopefully none of us will end up the wrong side of these guys, but if you don’t keep compliant you might just.
The addition of these elements aims to prevent all that nastiness. Compliance 360’s system includes compliance effectiveness and best practice assessment questions covering each of the Seven Elements categories.
With it online dashboards and reports show the overall state of compliance as well as details corresponding with each of the Seven Elements. Compliance officers can monitor completed and open tasks, owners and due dates and receive alerts regarding critical items that are overdue to quickly determine their impact on a company’s overall compliance status.
Norton Upgrades Security Software
Norton has released Norton Internet Security and Norton AntiVirus 2012 and announced several new products, all of which further its Norton Everywhere initiative to protect users everywhere. The new product it says goes across locations, platforms, devices and digital experiences.
There’s a whole list of new features in the Norton 2012 products as well as the Norton Tablet Security and Norton Anti-Theft software, as well as safety features for cloud users, a new malicious software blocker and file download checker.
Global Cost of Malware
Also from Norton this week, is a study that calculates the cost of global cybercrime at US$ 114 billion annually.
According to the Norton Cybercrime Report 2011 more than two thirds of online adults (69 percent) have been a victim of cybercrime in their lifetime. Every second 14 adults become a victim of cybercrime, resulting in more than one million cybercrime victims every day.
The study identifies men between 18 and 31 years old who access the Internet from their mobile phone as even more likely victims: in this group four in five (80 percent) have fallen prey to cybercrime in their lifetime.
Globally, the most common -- and most preventable -- type of cybercrime is computer viruses and malware with 54 percent of respondents saying they have experienced it in their lifetime. There really is a whole lot here, so well worth a look.