Hod Hasharon, Israel, June 29, 2021 (GLOBE NEWSWIRE) -- Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT), a leading global provider of innovative network intelligence and security-as-a-service (SECaaS) solutions for communication service providers (CSPs) and enterprises, today announced that their NetworkSecure cybersecurity solution has successfully blocked more than 140 million attempts to connect with the command and control servers used by the Flubot banking Trojan in Europe in the three month period of March to May.
Flubot is a banking Trojan that has been spreading quickly through Europe and may continue to spread to additional countries soon. The attack is localized for each country, mimicking local delivery apps that look and feel exactly like the real apps. Once a phone is infected, the Trojan gathers information about which banking and payment apps the owner uses, and then sends this data to a command and control (C&C) server operated by cybercriminals. The next time the user tries to use one of those apps the C&C server sends an overlay that exactly mimics the real app’s login page. It intercepts the user’s credentials and sends them to the cybercriminals.
The Allot NetworkSecure solution, deployed in the mobile operator’s network, successfully mitigates the damage caused by Flubot and other malware by blocking attempts to connect to the C&C server, thereby keeping subscribers’ devices and bank accounts safe, with no need for subscribers to download or update any security software.
NetworkSecure is a network-based cybersecurity service platform, offering zero-touch, clientless operation, requiring no application installation by the end customer. With NetworkSecure, the service provider can offer its customers protection from cybersecurity threats, including malware, viruses, phishing and ransomware. An easy-to-use interface provides branded alerts and reporting that help strengthen brand loyalty. NetworkSecure is the market leader in the growing network-based, mass-market cybersecurity category, protecting more than 20 million mobile users globally. Allot reports that some service providers have achieved up to 50% adoption rates with subscriber services based on NetworkSecure.
“To combat Flubot, some service providers are simply warning customers not to click on suspicious links. But for CSPs who have deployed NetworkSecure, they can tell subscribers that they were not at risk in the first place. That’s the peace of mind their customers appreciate,” said Dr. Yael Villa, SVP Cyber Security for Allot. “As CSP networks start the transition to 5G, we anticipate cyberthreats with greater frequency and complexity to emerge. Allot cybersecurity solutions are prepared for today’s challenges and the threats that 5G will attract.”
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Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot’s multi-service platforms are deployed by over 500 mobile, fixed and cloud service providers and over 1000 enterprises. Our industry-leading network-based security as a service solution has achieved over 50% penetration with some service providers and is already used by over 20 million subscribers globally.
Allot. See. Control. Secure.
This release contains forward-looking statements, which express the current beliefs and expectations of company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: acceptance of our products by our reseller and customer in EMEA, our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors, government regulation; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing lengthy sales cycles; operational risks associated with large projects; our dependence on third-party channel partners for a material portion of our revenues; and other factors discussed under the heading "Risk Factors" in the Company's annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Seth Greenberg Allot 0549222294 firstname.lastname@example.org Kimberly Velasco Fusion PR for Allot email@example.com Ehud Helft / Kenny Green Allot Investor Relations +1-646-688-3559 Allot@gkir.com