News

PMs Move to Fine Companies Likened to Chinese Censorship

United Kingdom’s Prime Minister Theresa May’s proposed fines for tech companies who fail to do ‘enough’ to combat extremist material sparked concerns of a China-like censorship. Independent reviewer of terrorism legislation, Max Hill QC pressed that fines should not be imposed on internet companies as it will be difficult to quantify exactly how much they need to do in order to not be fined. He added that the government needs to bring in tech companies to work on their side instead of threatening them with fines. Source: The Guardian

Bit Trade Labs to Help Sydney Stock Exchange Provide Instant Settlement Using Blockchain

The Sydney Stock Exchange (SSX) is teaming up with Australian company Bit Trade Labs to implement a blockchain technology to allow instantaneous trade settlements. Loretta Joseph, SSX director of market development revealed that with blockchain tech, swift transactions lower the clearing time which in turn lowers risk. In the event that the blockchain doesn’t work, they can always use the Australian Securities Exchange (ASX) as an alternate option. On Thursday, Australia is set to manage the secretariat of a technical committee comprised of 35 ISO member bodies internationally to create international standards on blockchain. Source: ZD Net

New Blockchain Technology Developed by University of Sydney

Red Belly Blockchain, named after one of Australia’s deadliest snakes, is the new blockchain technology being developed by the University of Sydney (USYD).   The system aims to allow the swift and secure transfer of virtual currencies around the globe. Dr. Vincent Gramoli, an academic from USYD said that in their recent blockchain testing, Red Belly was able to transact above 440,00 times on 100 machines in a mere 1 second. Card Giant Visa is able to process about 56,000 transactions per second while the Bitcoin network can muster around 7 transactions given the same time. At least two other […]

Accounting Company M.E.Doc Was Aware of Cyber attack Risk

Tax software company, M.E.Doc, the alleged source of the widespread cyberattack in Ukraine last Constitution Day, is now under investigation. In a statement to Associated Press, Head of Ukraine’s national CyberPolice unit Col. Serhiy Demydiuk said that employees from the accounting software company neglected repeated warnings on the vulnerabilities of the IT infrastructure. Demyduik announced that M.E.Doc received countless warnings from different anti-virus companies and  as a result of their neglect, involved individuals have criminal liability. The total damage of the attack is still unknown by Monday. Demydiuk revealed that their office cannot even provide an estimate of the damage […]

Korea May Be Next Target for Cyber Criminals

While South Korea may not have suffered any serious large-scale attacks like the recent WannaCry, Petya, and NotPetya ransomwares, local security experts admitted that Korea may be susceptible to cyber assaults owing to their strained relations with North Korea. Their relationship, coupled with the country’s advanced IT infrastructure make them a good bait for cyber attacks, according to experts. Head of Korea Internet & Security Agency’s Internet incident analysis team, Park Yong-Kyu said that companies need to take extra measures in ensuring the protection of their data by upgrading Windows, updating security patches, and backing up their data. Source: Korea […]

Save Mobile Data with Google Triangle App

A new app called Triangle by Google that is geared towards helping users save mobile data is now being tested in the Philippines. The app is intended to help countries that still have data caps in place where users need to make the most out of their internet usage and prevent unnecessary bandwidth waste. The Triangle app uses a feature called Data Saver to block unwanted data by reviewing your data usage, your data cap, and your current balance.   Most features are available in selected apps and to users of local telecom providers Globe and Smart. Source: Gadgets 360

MPs Suffer Another Wave of Cyber Attack

Just a week after the British Parliament endured its biggest cyber assault, a new wave of hacking attempts have surfaced as hackers attempt to trick MPs and their aides to provide passwords and giving out personal parliamentary details.   A spokesman from the parliament revealed that parliamentary members received phone calls from persons claiming to be Windows employees who asked for parliamentary usernames and passwords to help the Parliamentary Digital Service with the cyber attack. An ongoing investigation is underway to determine whether the hackers have successfully gained access to the Parliament’s network. Source: Telegraph

Gene-Chain Raise $824K Pre-ICO Closure

A blockchain that promises to push the boundaries of genomics data protection has successfully acquired $824,000 in an Initial Coin Offering (ICO) round. The project called Gene-Chain aims to provide individuals a secure way of keeping their genomic data private, but at the same time making it accessible to scientists who have obtained permission from the owner Gene-Chain. Gene-Chain was developed by Encrypgen, who attracted investments from the public through an ICO to help fund the project. As soon as the token sale is completed, token wallets will be distributed. Source: News BTC

Kaspersky CEO Willing to Let US Government Access Source Code

The CEO of Russian anti-virus company, Kaspersky Lab, Eugene Kaspersky said he was willing to let U.S government officials study his company’s source code if that would help dissipate suspicions over the company having ties with Kremlin. Kaspersky said in an interview with Associated Press at his company’s headquarters in Moscow that there was no truth to the rumours about him working with the Russian government. He adds that the company could “never go to the dark side.” Source: Voa News

Microsoft and Trump Admin Fight Over Access to Suspected Email Account

The Trump administration clashed with U.S.-based company Microsoft over access to an email account linked to drug-trafficking. A federal judge issued a warrant, but since the emails are stored on a server in Ireland, it is deemed outside the warrant’s jurisdiction. The federal appeals court in New York backed Microsoft’s stand and the Trump administration has requested to bring the case to the Supreme Court. A number of similar legal clashes between tech companies and governments have surfaced as the question between safekeeping digital privacy and allowing law enforcement catch or curb crime arise. Source: ABC News