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Veracode Examines the Effectiveness of Bug Bounty Programs

Veracode, Inc., the leader in cloud-based application security testing, has released an infographic that examines the success of bug bounty programs. The past decade has witnessed major growth in demand for bug hunters, with online giants such as Google, Mozilla, Facebook, and PayPal turning to bug bounty programs to improve the security of their products. Organizations are currently paying security researchers anywhere from hundreds to tens of thousands of dollars per vulnerability; however, this approach still leaves many applications vulnerable to attacks.

Veracode’s infographic, titled “Can Bug Hunters Keep the Internet Safe?” takes a look at which companies are relying on bounty programs for security findings, and compares market rates for discovering and reporting different types of vulnerabilities. In addition to paid bounty programs, the infographic details which companies have implemented unpaid bug hunting or responsible disclosure programs.

The infographic uses data from Veracode scans to demonstrate the current state of security in vendor-supplied web applications and concludes with Veracode’s recommendations for creating effective vendor application security testing programs.

“The fact that we’re seeing all of these bug bounty programs shows that more organizations are getting serious about security, which is a positive sign.” said Chris Eng, vice president of research, Veracode. “But implementing a bounty program is only one step towards creating a comprehensive security program.”

Veracode recommends developing a programmatic approach to vendor software security that is built on thorough policies, open communication, vendor education, and collaboration between vendors and enterprises.

“Can bug hunters keep the Internet safe?” infographic is available for download from the Veracode website: http://www.veracode.com/blog/2013/01/can-bug-hunters-keep-the-internet-safe-infographic , as well as a report that examines the state of enterprise programs for testing vendor supplied software. Interested parties have permission to embed and share the infographic on their websites or blogs with attribution.

About Veracode

Veracode is the only independent provider of cloud-based application intelligence and security verification services. The Veracode platform provides the fastest, most comprehensive solution to improve the security of internally developed, purchased or outsourced software applications and third-party components. By combining patented static, dynamic and manual testing, extensive eLearning capabilities, and advanced application analytics, Veracode enables scalable, policy-driven application risk management programs that help identify and eradicate numerous vulnerabilities by leveraging best-in-class technologies from vulnerability scanning to penetration testing and static code analysis. Veracode delivers unbiased proof of application security to stakeholders across the software supply chain while supporting independent audit and compliance requirements for all applications no matter how they are deployed, via the web, mobile or in the cloud. Veracode works with customers in more than 80 countries worldwide representing Global 2000 brands. For more information, visit www. veracode. com, follow on Twitter: @Veracode or read the Veracode Blog.

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