Alliance Global Capital Ltd
Alliance Global Capital Ltd (Frankfurt Stock Exchange: WKN: A2DNBZ) warns: ‘Industrial robots who are hacked will destroy the business’
DGAP-News: Alliance Global Capital Ltd / Key word(s): Miscellaneous Mogul Wave And Teebase UK to Have a Solution Ready in Two Weeks
No, this isn’t the title of a horror movie or a science thriller for teens. It’s the headline from tomorrow, or the headline of today that didn’t get printed. Researchers at Milan-based Politecnico University, exploiting a remote-accessed code defect found in an ABB Robotics IRB140 industrial robot, were able to reset the robot’s configuration file. Had the robot been in production, everything it worked on would have been out of specification. That exploit was part of a larger study on cybersecurity flaws and vulnerabilities in today’s industrial robots entitled “Rogue Robots: Testing the Limits of an Industrial Robot’s Security. That study “discovered more than 80,000 industrial routers exposed on the public Internet via their FTP servers and industrial routers in a two-week scan for connected robots from major vendors such as ABB Robotics, FANUC FTP, Kawasaki E Controller, Mitsubishi FTP, and Yaskawa.” The use of industrial robots is expected to grow exponentially in the future. The global industrial robotics market is expected to reach USD 79.58 Billion by 2022, growing at a CAGR of 11.92% between 2016 and 2022. The main drivers for this growth are the adoption of automation to ensure quality production and meet market demand, and the growing demand from small- and medium-scale enterprises in developing countries. However the Industry 4.0 revolution is bringing industrial robots closer to the cyber forefront. As improvements in the way industrial robots work and communicate increase their complexity, the industrial robots sector wider the attack surface. In the “Rogue Robots…” report you can find that the software running on these devices is outdated; based on vulnerable OSs and libraries, sometimes relying on obsolete or cryptographic libraries; and have weak authentication systems with default, unchangeable credentials. While companies spend heavily on protecting their computers, networks, and telecommunications systems, the burgeoning Internet of Things (“IoT”) gets short shrift, mostly because most IT managers are neophytes in this area generally and in IoT security in particular. Manufacturing is one of the leading industries for hacking. Industrial robots are particularly vulnerable. The cyber security market size is estimated to grow from USD 122.45 Billion in 2016 to USD 202.36 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period. TeeBase UK is working in this high growth markets offering niche solution to address cyber security also for the Industry 4.0 market segment. Mogul Wave through its associate company TeeBase UK, is working in this high growth market offering niche solutions. TeeBase UK has assembled a security solution, MScan01, to detect the vulnerabilities existing today and protect industrial robots against hacking. The most important component is a new vulnerability detector that eliminates the known software vulnerability. It is the only way to discover known vulnerabilities in executables and bundled files by automatically scanning the libraries, DLLs and executables. It is the only tool on the market that searches within bundled applications with new technology automatically. The detector goes even deeper by unbundling zip files, java archive files and others where malicious actions are likely to strike. Teebase UK expects to have the security solution MScan01 ready for distribution within two weeks, and it will then be offered to clients. About Alliance Global Capital Limited: The company invests in other promising companies that need capital to fully benefit from market conditions and gain access to international activities. At present there are about 10 holdings in the portfolio, including Mogul Wave Ltd. Singapore, a telecommunications and data transmission company. In addition to investing in the business model, the wholly-owned subsidiary, Alliance Global Capital Pte. Ltd. is based in Singapore, providing access to the stock market, private equity funds, hedge funds or even private investors, so that the company is able to tap the necessary growth capital. The company’s primary investment objective is to invest aggressively and transaction-oriented with the focus on value creation for shareholders. Contact Alliance Global Capital Ltd .: Alliance Global Capital Limited Suite 214, Level 2, Lexington Drive, Bellavista, NSW 2153 Australia European Head Office: Tel: + 44-208 077 2791. Fax: + 44-208 077 2785 www.allianceglobalcapital.com
12.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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