IRVINE, Calif., Sept. 26, 2017 (GLOBE NEWSWIRE) -- Identillect Technologies Corp. (the "Company" or "Identillect") (TSX-V: ID ) (OTCQB:IDTLF) (Frankfurt: 8ID ), a trusted leading provider of SaaS email security today announced another month of positive growth for August 2017. We have seen subscriber growth over 6 percent for the month of August over the past 7 month average.
Identillect CEO Todd Sexton stated, "Data breaches are hitting epidemic proportions with no organization being immune. We have seen breaches with many industry giants such as Equifax, Verizon, and Yahoo. This has created increased motivation of businesses to take their security measures seriously. Identillect creates the most streamlined process to ensure the safety of internal and external communication to maximize safety measures.”
A recent CNBC article on the increasing reach of data breaches specifies in the United States there has been an increase in breaches from the second half of 2016 to the first half of 2017 by 164%. The devastation and loss of information within the United States needs greater emphasis on internal security protocols and continued expansion on federal laws and requirements.
There were more than 15 million Americans who experienced identity theft based on a recent study released by Javelin Strategy & Research . Even more concerning is the fact that this cost Americans over $16 billion, and this figure is expected to increase throughout 2017.
As the growing threat of cyber-attacks fuels the growth of the cyber security industry, the email encryption market will grow as well, estimated to be worth more than 4.21 Billion USD by 2020. Email-borne cyber-attacks are the second most common type of cyber security breach according to the Identity Theft Center with the average cost of a data breach now estimated at more than $3.62 million.
About Identillect
Identillect Technologies is the leading provider of email encryption service Delivery Trust™, empowering enterprises of all sizes to protect their business and their client’s critical information against cyber security attacks.
Delivery Trust™ is an award -winning, multi-platform plug-in, which gives users complete control of their emails, for one low price. One simple integration complies with all regulations and most importantly provides peace of mind.
For more information, or your free trial, please visit www.identillect.com
On Behalf of the Board of Directors of:
IDENTILLECT TECHNOLOGIES CORP.
Todd Sexton Chief Executive Officer Tel: (949) 468-7878 Email: todd.sexton@identillect.com
Investor Relations: Arlen Hansen Kin Communications 1-866-684-6730 id@kincommunications.com
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This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
