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EDISON, N.J., March 19, 2019 (GLOBE NEWSWIRE) -- StrikeForce Technologies, Inc. (OTCQB: SFOR) announces that one of its distributors has closed several major deals for its keystroke encryption throughout Asia.
“We’re very excited about these deals,” says Mark L. Kay, CEO of StrikeForce, “they will bring substantial growth & revenues into the company”. During the first phase of this project StrikeForce will translate and localize our desktop and mobile keystroke encryption app for distribution throughout China. StrikeForce is receiving $350,000 in revenues to be received and development fees over five months. Once the localization is finished StrikeForce will be receiving fees on a per-user per-month basis. “Given that the first two customers have almost 20 million users, this has the potential to grow really big and really fast over time,” says Kay.
“In addition to these deals, our distributor has deep ties into the Asian and Australia markets as well as in the U.S., reaching nearly 2 billion people, including China, Singapore and Hong Kong, which houses over 1.4 billion people alone and spends almost 25% more on cyber security than the global average,” says Kay. According to the research group Gartner, “highly publicized data breaches such as Sing Health, which compromised the personal health records of nearly a quarter of the population in Singapore, reinforces the need to view sensitive data and IT systems as critical infrastructure.” In a recent 2019 cyber report published by The Herjavec Group, researchers predict global spending on cyber security products to exceed $1 trillion cumulatively over the five-year period from 2017 to 2021.
StrikeForce’s keystroke encryption software solves a worldwide security threat that has been instrumental in the early advancement of the biggest breaches of our time. This threat is known as keylogging spyware, which has become a main component in cyberattacks. Until now, cyber security teams have not been successful in protecting against keyloggers, which are commonly downloaded as a result of clicking on an infected link inside an email, text or web page. This practice of tricking unsuspecting victims into clicking on links that look legitimate is called “phishing”. According to recent reports, “phishing was found in 90% of breaches and 95% of phishing attempts that led to a breach, were followed by software installation, including keyloggers.”
“Keylogging spyware has become a problem that is global in scope. It steals every keystroke typed into a PC or mobile device including login credentials, credit card and banking info and other sensitive data. The rapidly growing costs of cybercrime and the increasing rate of digital connectivity will drive the rate of spending in cyber security in the coming years. We feel that our keystroke encryption technology is the missing link for credential and data protection,” says Kay.
About StrikeForce Technologies, Inc.
StrikeForce Technologies helps to prevent Cyber theft and data security breaches for consumers, corporations, and government agencies. It provides powerful two-factor, “Out-of-Band” authentication, keystroke encryption along with mobile solutions. StrikeForce Technologies, Inc. (OTCQB:SFOR) is headquartered in Edison, N.J., and can be reached at www.strikeforcetech.com or by phone at (732) 661-9641 or toll-free at (866) 787-4542.
Safe Harbor Statement:
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the sales of the company's identity protection software products into various channels and market sectors, the issuance of the company's pending patent application, and the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the company.
StrikeForce Technologies, Inc.:
Mark L. Kay