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Efani Announces Mobile Solution For SEC Regulated Entities
News provided byEIN Presswire
Jan 13, 2023, 7:51 AM ET
Efani has announced its secure mobile service designed for SEC-regulated entities.SAN FRANCISCO, CA, UNITED STATES, January 13, 2023 /EINPresswire.com/ -- Companies with more than **$10 million** in assets whose securities are held by more than 500 owners are regulated by the SEC and required to monitor how employees communicate on work-related matters and store those messages.
According to the New York Times article, regulators gave out nearly $2 billion in fines for failing to police employees who were using messaging apps such as Signal, Telegram, SMS, and Whatsapp to communicate. JP Morgan settled a $200 million fine last summer for allowing employees to communicate using text messaging with each other and others outside the company.
Using company email is easy to monitor usage and store email messages. Mobile messaging is more complex because everyone is using different applications to communicate. Also, Signal users can only communicate with other Signal users, for example, and these popular apps do not communicate with other applications or with standard SMS. "It's a conundrum," says Haseeb Awan, CEO of Efani, adding that "requiring a financial entity to standardize on SMS communications is like putting a steak in front of a lion and expecting the lion not to feed. The technology for hackers to access cellular phone calls and SMS is well beyond the carrier's ability to secure those communications."
Based on the value of the information these entities exchange daily, Efani has announced the launch of its Secure Mobile Solution for SEC Compliance. Efani provides a standard mobile service they call the SAFE plan, which comes with SIM swap security and insurance. The second component is the new Efani Black Seal data-only plan which comes with detection and protection against cell tower spoofing, DNS hijacking, and more. The third component is their VoIP app which will provide a second mobile number for encrypted voice and messaging. VoIP will be used for the organization to communicate internally with fully encrypted voice, video, and messaging end to end, as well as extend the VoIP app to their high-profile customers where privacy and security are required. In addition, employees can exchange messages with standard SMS users to ensure compliance and storage of messaging even with outside entities. The VoIP communications will also be wrapped by their Black Seal data solution. It allows the organization to comply with SEC regulations on messaging and storing those messages while adding encryption for the most secure mobile service available.
"Imagine setting up an IMSI catcher outside a popular coffee shop or happy hour pub where Wall Street hangs out and monitors their voice calls and SMS messages. What kind of valuable information could be obtained on large financial transactions" asks Mark Kreitzman, General Manager of Efani. IMSI catchers are cell tower spoofing devices that can identify mobile device information, record cellular phone calls, capture SMS, and more, and do it without being detected. Mark adds, "These hacking devices are illegal but nearly impossible to identify the hacker, and it could be an insider as seen in TV shows like Mr. Robot where they used a cell tower spoofer to spy on the FBI."
Efani is currently testing its VoIP app with plans to launch the complete Secure Mobile Solution for SEC Compliance in March.
**About Efani Inc.**
Learn more about the SAFE plan: [www.efani.com](http://www.efani.com/)
Learn more about the Black Seal plan: [www.efani.com/blackseal](http://www.efani.com/blackseal)
Check your mobile number vulnerability: [app.efani.com/phone](http://app.efani.com/phone)
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