Latest news with #securitystrategy
Khaleej Times
4 days ago
- Business
- Khaleej Times
HSBC plans major global expansion of office, staff surveillance, documents show
HSBC plans to step up surveillance of staff and buildings by adding more cameras and biometric access to its premises globally, internal documents seen by Reuters show, a move that comes amid growing concerns about companies' extensive monitoring of workers. As part of its "global security strategy", the bank plans a four-fold increase in the number of cameras at its new building in the City of London, a site about half the size of its existing office in Canary Wharf, an internal presentation by the bank's protective security team dated May 2025, seen by Reuters, shows. According to the presentation, the new London building is expected to have an estimated 1,754 cameras, up from about 444 devices installed in its current global headquarters in Canary Wharf in London. It also plans to double its biometric readers to access the new building to 779 from 350. Under the plan, reported here for the first time, access to HSBC's top-tier buildings, including in Britain and the U.S., should be based on biometric verification, including full-hand recognition. Access can also be "digital", with employees expected to use their own mobile phones to badge in, the presentation document shows. HSBC, Europe's biggest bank by assets, employs more than 210,000 people globally, including more than 31,000 across the UK. Most employees are expected to use personal mobile phones with a firm-installed software on them to gain access. This has met with some resistance from staff, a person with knowledge of the policies said. As of the end of last year, most of the UK staff had yet to adhere to the biometric and digital access policy which the bank started to implement in 2022, in part because of opposition, according to the person. "The safety and security of our people is at the forefront of everything HSBC does," an HSBC representative told Reuters. "We regularly risk assess every building and dependant on the identified risk and vulnerabilities, we continue to invest in the latest cutting-edge technology to safeguard our colleagues, customers and visitors in line with industry standards," the bank added. Companies have increased surveillance of staff amid a shift to hybrid working, while advances in technology allow for more sophisticated controls. Banks in particular have stepped up monitoring to ensure the parts of their businesses that are heavily regulated comply with conduct rules. National privacy laws determine what companies can monitor. The extensive surveillance enabled by new technologies is raising concerns about risks to workers' rights and wellbeing, according to a May report by the Institute for Public Policy Research, a London-based think tank. In July, HSBC requested that senior staff globally report to the office at least four days a week, starting from October, a bank spokesperson said. Previously, the bank had no global policy on the matter, with approaches varying depending on the country, they said. As demands for office space grow again, the bank has decided to add to its planned City of London HQ, with a new smaller presence in Canary Wharf, Reuters reported. The documents seen by Reuters do not include references to the new Canary Wharf office space. The bank's security project is overseen by Diane Marchena, global head of protective security, who reports to Chief Operating Officer Suzy White, the person with knowledge of the matter said. Marchena and White declined to comment for this article. ISRAELI SURVEILLANCE TOOLS HSBC has been working with Israeli firm Octopus since at least 2024, adopting some of its tools for surveillance in the UK and Hong Kong and is planning more rollouts for monitoring, other documents outlining HSBC's global strategy seen by Reuters show. HSBC plans the deployment of Octopus tools in other countries such as India and Mexico this year, the documents, which are undated, show. Israel is one of the world's leading exporters of surveillance. Octopus says it sells its tools to buyers in 28 countries. Its technology has been reportedly used by entities, including the Israeli government to monitor some Israeli cities and a European Union-funded refugee camp on the Greek island of Samos. A representative for Octopus did not take Reuters calls seeking comment and the company did not respond to a Reuters email seeking comment. An HSBC spokesperson said the bank does not comment on vendors or suppliers. TRADING FLOORS In HSBC's new London building, the increased video surveillance will include cameras at entry and exit points of trading floors, the May 2025 presentation shows, and the use of artificial intelligence analytics. HSBC's budget for the initial rollout of the new London building surveillance was recently tripled to about $15 million, the person familiar with the matter said. According to the presentation, "theft incidents" in its Canary Wharf building "point to the need for increased CCTV capabilities on working floors," and that recent "crime data" showed an increase of incidents, including burglary, within a one-mile radius of the new office. The person familiar with the matter said that theft events on HSBC premises were mostly minor.
Bloomberg
5 days ago
- Politics
- Bloomberg
Colombia's Opposition Is Hobbled by Senator's Murder, Leader's Scandal
By and Oscar Medina Save After losing its most popular presidential candidate to a shock shooting, Colombia's conservative opposition is reeling. Senator Miguel Uribe's death provides the powerful Centro Democrático party with the opportunity to launch a full-scale attack against President Gustavo Petro's security strategy — not to mention the scandals and weak economy taking a toll on the administration.
Globe and Mail
17-07-2025
- Business
- Globe and Mail
Okta Emphasizes AI-Driven Security: Can PANW Advance Its Lead?
Okta OKTA is stepping up its efforts in identity protection by putting artificial intelligence (AI) at the center of its security strategy. The company's Identity Threat Protection with Okta AI advanced features enables customers to detect and respond to identity-based threats in real time and prevent damage before it occurs. This AI approach supports Okta's growing portfolio, which includes Identity Governance, Privileged Access, Fine-Grained Authorization, Device Access and Identity Security Posture Management. The company is also expanding its security tools to protect non-human identities like service accounts and bots, which is a growing concern in today's cloud and AI environments. This all fits into a larger zero-trust model, where no user or device is trusted by default. A major boost to this AI-driven vision comes from Okta's new partnership with Palo Alto Networks PANW. This integration creates a unified security architecture that allows organizations to automate threat detection and response, secure application access across any device and streamline identity workflows without compromising security. Through this collaboration, Okta's threat detection is now integrated into Palo Alto's powerful security platforms — Cortex XSIAM and XDR — creating a comprehensive response to the most advanced attacks. With nearly 2,000 shared customers, Okta and Palo Alto Networks are joining forces to make security tools work better together. Their partnership helps businesses automate protection, simplify operations and adopt AI faster. Okta Faces Rising Pressure in IAM Space Okta is facing significant competition from CyberArk Software CYBR and Microsoft MSFT in the identity and access management (IAM) domain. CyberArk leads the Privileged Access Management space, strengthened by its Zilla Security and Venafi acquisitions, expanding into Identity Governance and machine identity protection. In the first quarter of 2025, the company posted 43% revenue growth and improved margins, driven by the company's robust dominance in identity security. CyberArk's continuous investments in its product suite and go-to-market are noteworthy. Microsoft's Entra ID poses a significant challenge with its fully integrated Identity and Access Management platform. Serving over 900 million monthly active users, the company offers advanced tools like Single Sign-On, Multi-Factor Authentication, Conditional Access and Identity Protection. Microsoft delivers these capabilities at scalable levels, from free to P2, supported by centralized control and global reach, reinforcing its dominance in secure identity solutions. OKTA's Price Performance, Valuation & Estimates Shares of Okta have appreciated 18.8% year to date compared with the Zacks Security industry's return of 15.6%. OKTA's YTD Price Return Performance From a valuation perspective, Okta, trading at a forward Price/Cash Flow ratio of 21.44, is slightly lower than the broader Zacks Computer and Technology sector's 21.7X. OKTA has a Value Score of D. OKTA Forward 12-Month Price/CF Ratio Image Source: Zacks Investment Research The Zacks Consensus Estimate for OKTA's second-quarter fiscal 2026 earnings is pegged at 84 cents per share, unchanged over the past 30 days, indicating 16.67% year-over-year growth. The consensus mark for fiscal 2026 earnings is pegged at $3.28 per share, unchanged over the past 30 days. The earnings figure suggests 16.73% growth over the figure reported in fiscal 2025. OKTA stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT): Free Stock Analysis Report Palo Alto Networks, Inc. (PANW): Free Stock Analysis Report CyberArk Software Ltd. (CYBR): Free Stock Analysis Report Okta, Inc. (OKTA): Free Stock Analysis Report
Reuters
26-06-2025
- Politics
- Reuters
Pacific Islands delay security plan that could open door to China
SYDNEY, June 26 (Reuters) - Leaders of the four biggest Pacific Islands nations have delayed adopting a joint security strategy that could provide an opening for Beijing, against a backdrop of increasing rivalry between China, Australia and the United States in the Pacific Ocean. The Melanesian Spearhead Group, which includes Solomon Islands, Papua New Guinea, Vanuatu and Fiji, had been negotiating its first joint security framework, focused on maritime security. A meeting of the group's leaders on Monday in Fiji delayed a decision, with Papua New Guinea's Foreign Minister Justin Tkatchenko telling Reuters the security strategy was yet to be agreed on. Discussions over Taiwan, among other matters, and how to accommodate the different positions of members was challenging, he said on Thursday. The inter-government group, courted by Beijing which funded its headquarters in Vanuatu, has previously said it would consider China as a security partner. The Pacific's bigger diplomatic bloc, the 18-member Pacific Islands Forum, has rejected China security ties and said instead the Pacific should provide its own security. Among the Melanesian Spearhead Group nations, Solomon Islands and Vanuatu are seen as the closest to Beijing with policing ties, while Papua New Guinea has security deals with the United States and Australia, and Fiji has a defence partnership with Australia. Australia said on Thursday it would assist the Pacific Islands to counter illegal fishing by doubling funding to A$477 million ($312 million) for aerial maritime surveillance across millions of km (miles) of the Pacific, using civilian planes and drones. China, which operates the biggest fishing fleets, demonstrated its coast guard capabilities to 10 Pacific Islands ministers last month, prompting concern from some regional officials it may start patrolling the South Pacific, where the United States Coast Guard has increased activity. Australia's Pacific Minister Pat Conroy attended the Melanesian Spearhead Group meeting for the first time, sitting across the room from China's ambassador Zhou Jian at the Fiji discussions. China's embassy in Fiji said in a statement that the group was a "crucial platform for promoting regional peace and stability". In the meeting, Conroy highlighted that Australia is the largest trading partner of every member of the group. Solomon Islands Prime Minister Jeremiah Manele said in a statement that progress was made on the security strategy, with "a firm commitment to collaborate with member countries and associate partners to enhance stability and peace throughout the region". He did not specific which partners. In the Solomon Islands on Thursday, Conroy said Australia will provide 60 police vehicles, cyber security support and road upgrades for Honiara to host the Pacific Islands Forum leaders meeting in September. "The Pacific is best served by Pacific-led institutions and processes," he said in a statement. Solomon Islands is yet to formally respond to Australia's offer in December of A$100 million to expand its police force, Conroy said in a television interview. "I made it clear that I don't think that China should be involved in policing in the Pacific," he told the Australian Broadcasting Corporation. Solomon Islands said it would fill any security gaps by seeking assistance from Melanesian countries, he added. ($1 = 1.5312 Australian dollars)
