Federal Trade Commission launches probe into Facebook data scandal

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The Federal Trade Commission said it had opened an investigation into Facebook’s privacy practices following the Cambridge Analytica scandal in which the data of 50 million users was misused. Tom Pahl, the acting director of the FTC’s Bureau of Consumer Protection, warned in a statement according to Financial Times, that the privacy watchdog was committed […]

Facebook, Cambridge Analytica hit with first state lawsuit

Facebook and Cambridge Analytica are already dealing with numerous private lawsuits over non-consensual data sharing, but they now have to grapple with a state-level lawsuit. Illinois’ Cook County has filed a lawsuit against both companies accusing them of violating the state’s Consumer Fraud and Deceptive Business Practices Act. Cambridge Analytica allegedly broke the law by […]

IETF approves new security standard to make web safer

The Internet Engineers Task Force (IETF) has unanimously approved Transport Layer Security version 1.3, a security framework that will make encrypted connections on the web faster and more resistant to snooping. TLS 1.3 is the kind of iterative improvement that keeps the web working in the face of malicious actors everywhere. The IETF is a body of engineers […]

World Economic Forum leads creation of fintech cybersecurity consortium

The World Economic Forum has led the creation of an industry consortium focused on improving the cybersecurity of financial technology companies, as collaboration between fintechs and financial institutions grows. The consortium’s founding members include Citigroup Inc , online lender Kabbage, the Depository Trust & Clearing Corporation, Zurich Insurance Group and Hewlett Packard Enterprise, the companies […]

Forcepoint suggests human-centric approach as solution to $450 million cybersecurity breaches

Forcepoint, a leading global private cybersecurity company, has called for a human-centric approach to solve cybersecurity breaches by private organisations and governments in Nigeria. He spoke against the backdrop that Nigeria lost $450 million to cybersecurity breaches in 2017. Christo Van Staden, regional manager for Sub Saharan Africa, at the official unveiling of CBC EMEA […]

Major tech leaders sign charter to boost cybersecurity in govt., businesses

Major tech leaders late last week signed a cybersecurity charter outlining methods for businesses and governments to increase their security positions. The document was signed at the Munich Security Conference 2018, in Munich, Germany. According to reports, ‘ The Charter of Trust’ was signed by representatives from Siemens, Airbus, Allianz, Daimler Group, IBM, MSC, NXP, […]

Hackers secretly mine cryptocurrency with Google Play Store apps on Android phone

Sophos, a British security software and hardware company in a statement revealed 19 Android apps that secretly mine the cryptocurrency Monero in the Google Play Store. Monero is an open-source cryptocurrency created in April 2014 that focuses on privacy and decentralization that runs on Windows, macOS, Linux, Android, and FreeBSD. The security firm has published […]

Hackers steal $6m from Russian bank via SWIFT system- central bank

Unknown hackers stole 339.5 million roubles ($6 million) from a Russian bank last year in an attack using the SWIFT international payments messaging system, the Russian central bank said on Friday, according to Reuters. The disclosure, buried at the bottom of a central bank report on digital thefts in the Russian banking sector, is the […]

The Olympics are an irresistible target for cybercriminals

The Olympic Games are a massive draw, not only for sports fans, but also for cybercriminals. It’s a high-profile event taking place in a concentrated location that attracts large numbers of visitors, many of whom will be spending a lot of money. The Winter Games kicking off Friday in Pyeongchang, South Korea, are no exception. […]

Maersk Line invests heavily to secure its ops from cyber-attacks

Terming the 2017 cyber-attack as an “extremely difficult” episode, global shipping giant Maersk Line has said it has invested in network to ensure that its operations here do not get impacted by any such global breach in the future. “We have revised our system architecture to reduce some amount of the risks,” its India managing […]