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Password-stealing Malware Found in Google Play Store

Password-stealing Malware Found in Google Play Store

IBM X-Force researchers recently found a number of apps on Gogle’s Play Store which carried the Trojan banking malware Anubis which steals login credentials for banking apps, e-wallets and payment cards. The malware campaign was said to have been carried out by a cybercrime group that took the effort to make the malicious apps look legitimate, suggesting a significant investment of resources by the campaign operator. Users are warned that Anubis masquerades as an app called “Google Protect” which asks the user for accessibility rights. The malware authors purposely used the name Google on the display to make users believe […]

India to Relax Local Data Storage Laws for Foreign Payment Companies

India to Relax Local Data Storage Laws for Foreign Payment Companies

India’s finance ministry revealed this week that the directive from the country’s central bank that requires global payment firms to store customer data only locally may be relaxed. The move was said to be in reaction to intense lobbying by U.S. companies and trade bodies. It is expected that the proposal would relieve firms like Visa, Mastercard, and American Express of costs that could potentially run up to millions of dollars. The finance ministry said in June that a possible solution could be to allow companies to store data offshore, as long as a copy was kept in India. Source: […]

ZTE US Operations to Resume After Sealing Deal with Government

ZTE US Operations to Resume After Sealing Deal with Government

It was announced this week that Chinese telecoms giant ZTE will be resuming its operations in the US after a three-month ban for illegally shipping its products to Iran. ZTE signed an escrow agreement with the US Commerce Department where the company will be depositing $400 million to lift the ban. ZTE had already paid $900 million last year, in addition to another $1 billion penalty that it had incurred. The Commerce Department said that the ZTE settlement has been the toughest penalty and strictest compliance regime the department has ever imposed in such a case. Source: Reuters

Facebook Drops “Treason” Interest Category for Ad Targeting  

Facebook Drops “Treason” Interest Category for Ad Targeting  

It was revealed this Wednesday that Facebook has dropped the “treason” tag used to identify user interest for advertisers. Danish state broadcaster DR published that the “treason” interest category tag can potentially be used by intelligence services in authoritarian regimes to hunt down subversives. DR also revealed that their sources said that the tag could have been used by Russian authorities to locate about 65,000 Facebook users. A Facebook spokesperson said that treason was only given a historical significance, but since it is an illegal activity, they have removed it as an interest category. Source: Reuters

Timehop Reveals Gender, Country, DOB Included in Breach

Timehop Reveals Gender, Country, DOB Included in Breach

Timehop revealed this week that sensitive information such as gender, country, language, and date of birth may have been accessed by the attacker in its July 4 breach. It was previously reported that around 21 million records were included in the breach, with 15 million records containing the date of birth, and around 9 million bearing gender information. The company apologized for having issued a secondary breach disclosure, saying that it only became apparent to them after a comprehensive audit that there were more information on the tables that they originally disclosed. Source: ZDNet

Three Crypto Exchanges Receive License to Operate from CEZA

Three Crypto Exchanges Receive License to Operate from CEZA

  The Cagayan Economic Zone Authority (CEZA) of the Philippines recently issued provisional licenses to three cryptocurrency exchanges operating in the economic zone.   The Manila Times said that CEZA expects to attract $3 million in investment following the issuance.   The government had previously announced that 10 blockchain and cryptocurrency companies will be allowed to operate in the economic zone to generate jobs and stimulate the economy. The companies are required to contribute $1 million upward over two years and pay up to $100,000 in licence fees.   It was also mentioned that 70 companies have already applied to […]

Apple Fixes iPhone “Taiwan” DOS Bug

Apple Fixes iPhone “Taiwan” DOS Bug

Apple recently announced that it has recently fixed a bug that causes the iPhone to crash whenever the word “Taiwan” or the Taiwanese flag was mentioned or displayed in any app. Discovered by researcher Patrick Wardle, the bug was fixed in a security update released last Monday, after the release of iOS 11.4.1. Wardle said the devices would crash due to a memory error in how the operating system processes and removes certain emojis when the regional settings are incorrect. In doing so, it would return a “null” value, which caused the crash.   Source: ZDNet

Japan Regulator: Apple Breached Antitrust Rules with iPhone

Japan Regulator: Apple Breached Antitrust Rules with iPhone

Japan’s Fair Trade Commission (FTC) says Apple’s Japan unit has breach antitrust laws by forcing NTT Docomo Inc., KDDI Corp., and SoftBank Group Corp. to offer subsidiaries and sell discounted iPhones. The FTC said that the move restricted competition and could have prevented the carriers from offering lower monthly charges. The Japan watchdog began looking into Apple’s sales practices in 2016, but did not punish Apple when the company agreed to revise its contracts with the carriers. It was said that to make up for the losses, Apple locked consumers into lucrative two- and four-year contracts.   Source: Reuters  

Trump Administration Ready to Slap Tariffs on $200 Billion Chinese Imports

Trump Administration Ready to Slap Tariffs on $200 Billion Chinese Imports

The Trump administration is reportedly readying tariffs on an additional $200 billion worth of Chinese tech imports in its escalating trade war against China. While the Office of the US Trade Representative is still seeking public submissions on the proposal, it is already suggesting 10% tariffs across 6,031 Chinese product lines. The US president even warned that that he could tax up to $550 billion in Chinese products, which will exceed the US’ total imports from China during 2017. The statement was called “reckless” and untargeted by Republican Senate Finance Chairman Orrin Hatch who said that the action “falls short […]

Ticketmaster Breach Part of Larger Credit Card Fraud Campaign

Ticketmaster Breach Part of Larger Credit Card Fraud Campaign

According to new research released this week, the Ticketmaster breach may only be part of a larger operation involving the skimming of credit cards affecting as much as 800 ecommerce sites. The Magecart threat group, which was operational since 2015, is said to be responsible for the campaign. The hackers usually target software companies that build and provide code that developers include on their websites. The altered code then affects every website that it runs on and affects millions of users daily. RiskIQ says that the Ticketmaster breach was far bigger than first thought as it was running code from […]