Portugal’s Judiciary Police Enhances Security Infrastructure via Securnet and BIO-key

Rhea-AI Summary

BIO-key International, Inc. (NASDAQ: BKYI) announced the implementation of a Virtual Private Network (VPN) secured by BIO-key Swivel Secure authentication technology AuthControl Sentry for the Judiciary Police of Portugal, in collaboration with Securnet. The deployment significantly enhances operational security and efficiency for the Judiciary Police, supporting their fight against organized crime, terrorism, drug trafficking, corruption, and financial crimes.

Positive

• Significant enhancement of operational security for the Judiciary Police of Portugal
• Robust Virtual Private Network (VPN) implementation using BIO-key Swivel Secure authentication technology
• Strategic collaboration with Securnet to provide advanced Access Control Device system
• Empowerment of law enforcement agencies through cutting-edge technology

Negative

• None.

Cybersecurity Expert

The adoption of BIO-key's technology by the Judiciary Police of Portugal marks a significant stride in the realm of cybersecurity for critical infrastructure. By integrating Identity-Bound Biometric (IBB) authentication into their Virtual Private Network (VPN), the Judiciary Police is addressing a key vulnerability in information security - unauthorized access. IBB provides a higher level of security compared to traditional methods by binding the user's identity to their biometric traits, thus eliminating risks associated with password theft or token duplication.

From a cybersecurity standpoint, the move towards more sophisticated authentication methods is a response to the escalating sophistication of cyber threats. Organizations that handle sensitive data, particularly those in law enforcement, are prime targets for cyber-attacks. The deployment of AuthControl Sentry by BIO-key, therefore, not only enhances operational security but also sets a precedent for other agencies in the sector to follow suit, potentially creating a ripple effect in the market demand for advanced security solutions.

For stakeholders, this deployment could signal a long-term shift towards more secure and efficient operational practices. As the technology is proven in high-stakes environments, it may lead to increased trust and potentially more contracts for BIO-key, positively impacting their market position and financial stability.

Market Analyst

The announcement of BIO-key's collaboration with the Judiciary Police of Portugal through Securnet is a strong indicator of the company's competitive edge in the Identity and Access Management (IAM) market. The implementation of a robust VPN secured by BIO-key's technology is not just a product deployment; it represents a strategic move to capture a share of the growing market for secure communication systems in law enforcement and other sectors vulnerable to cyber threats.

Analyzing the market implications, one can anticipate that BIO-key's stock (NASDAQ: BKYI) might experience increased investor interest as the company demonstrates its ability to secure high-profile clients and deliver solutions that meet the stringent requirements of such clients. This could lead to a positive reassessment of the company's growth potential and valuation by the market.

Furthermore, this partnership may serve as a case study showcasing the effectiveness of BIO-key's solutions, possibly leading to further adoption in similar sectors globally. The long-term benefits for BIO-key could include sustained revenue growth, increased market share and a stronger brand reputation within the cybersecurity industry.

Legal Compliance Analyst

In the context of legal compliance, the Judiciary Police of Portugal's investment in securing its VPN with BIO-key's AuthControl Sentry technology is a proactive measure to meet the stringent regulatory requirements for data protection and privacy. With the global intensification of data protection laws, such as the General Data Protection Regulation (GDPR) in Europe, law enforcement agencies must ensure the highest level of data security to avoid legal repercussions and maintain public trust.

The use of IBB authentication can be seen as a strategic compliance effort, as it potentially reduces the risk of data breaches that could lead to significant legal penalties and damage to reputation. For stakeholders, this signifies a commitment to not only meeting current regulations but also anticipating future compliance needs, which could be a key differentiator in the cybersecurity market.

As agencies like the Judiciary Police adopt these advanced technologies, it may encourage other organizations to follow suit to maintain regulatory compliance, thereby expanding the market for providers like BIO-key and influencing industry standards for legal and regulatory compliance in cybersecurity practices.

HOLMDEL, N.J. and LISBON, Portugal, Jan. 02, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication solutions, today announced the Judiciary Police of Portugal (Polícia Judiciária) has significantly enhanced its operational security by implementing a robust Virtual Private Network (VPN) secured by BIO-key Swivel Secure authentication technology AuthControl Sentry. The deployment was sourced through BIO-key’s strategic collaboration with Securnet.

The VPN, along with an advanced Access Control Device system provided by Securnet, significantly augments the security and efficiency of communications and data access for the Judiciary Police. The technologies support key infrastructure supporting the relentless fight against organized crime, terrorism, drug trafficking, corruption, as well as economic and financial crimes.

“The Judiciary Police’s commitment to advanced technological solutions is commendable,” said Alex Rocha, Managing Director of BIO-key Europe. “Our involvement in this project, through our partnership with Securnet, demonstrates the adaptability and strength of our security solutions in high-stakes environments. This collaboration is a prime example of how cutting-edge technology can empower law enforcement agencies to perform their critical duties more securely and effectively.”

“The implementation of these security solutions, facilitated by our collaboration with Securnet was pivotal in maintaining the integrity of communications. These technologies play a vital role in safeguarding information systems and operations, which are essential in the fight against sophisticated criminal networks.”

About Securnet (www.securnet.pt)
Founded in 2002 with the mission of putting organizations “Always online, Always Secure”, Securnet has evolved into a complete provider of IT infrastructure solutions and services. The excellence of Securnet solutions and services is widely recognized by customers and manufacturers as generators of value, innovation and competitiveness. Betting on transparent, trustworthy and long-term relationships, supported by an experienced, efficient, specialized and certified technical team, Securnet is a preferred supplier and technological partner of an increasing number of customers across a diverse range of sectors and industries.

About BIO-key International, Inc. (www.BIO-key.com)
BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over thirty-five million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.

About the Judiciary Police (www.policiajudiciaria.pt)
The Polícia Judiciária (PJ; English: Judiciary Police) is the national criminal investigation police agency of Portugal, focused in fighting serious crimes, including homicides, kidnapping, organized crime, terrorism, illegal drug trade, corruption, cybercrime and financial crime. It is integrated into the Ministry of Justice, but operates under the supervision of the Public Ministry.

BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital to satisfy working capital needs; our ability to continue as a going concern; our ability to regain compliance with the Nasdaq continued listing standards, market conditions and the impact of the reverse stock split on the trading price of our common stock; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to integrate the operations and personnel of Swivel Secure into our business; fluctuations in foreign currency exchange rates; delays in the development of products and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022 and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise.

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Investor Contacts

William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com or 212-924-9800

What did BIO-key International, Inc. (BKYI) announce?

BIO-key announced the implementation of a Virtual Private Network (VPN) secured by BIO-key Swivel Secure authentication technology AuthControl Sentry for the Judiciary Police of Portugal, in collaboration with Securnet.

What are the key benefits of the deployment for the Judiciary Police of Portugal?

The deployment significantly enhances operational security and efficiency for the Judiciary Police, supporting their fight against organized crime, terrorism, drug trafficking, corruption, and financial crimes.

Who is the Managing Director of BIO-key Europe?

Alex Rocha is the Managing Director of BIO-key Europe.

What role did Securnet play in the collaboration?

Securnet provided an advanced Access Control Device system in collaboration with BIO-key.

What is the purpose of the technologies implemented for the Judiciary Police?

The technologies play a vital role in safeguarding information systems and operations, which are essential in the fight against sophisticated criminal networks.