News
Singapore’s Cyber Security Agency award Veracity Trust Network S$1 million Grant
November 2024 by Marc Jacob
Veracity Trust Network has been awarded the Cybersecurity Co-Innovation and Development Fund (CCDF) CyberCall grant of S$1 million by the Cyber Security Agency Singapore (CSA). The grant will be used to develop and deliver advanced malicious bot detection in collaboration with one of world’s largest fashion retailers. Veracity was selected based on its ’Beyond the Edge’ technology that utilises real-time behavioural analysis to detect and block even the most complex bots.
Veracity’s data shows that approximately 30% of all website visits are malicious bots looking to do harm. The grant will be used to develop and deliver the next generation of this technology, which will provide advanced malicious bot detection tailored to the eCommerce company’s operations. This is a large and growing menace as these bots seek to steal data, set up fake accounts, disrupt inventory, plant ransomware, and so on. Veracity was selected based on the efficacy of its platform that utilises real-time behavioural analysis to detect and block even the most complex bots.
The CCDF’s 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.
Veracity ’s solution works on the client-side ’beyond the edge’, rather than at the firewall layer. This enables its 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 the company.
