Author: Disini & Disini Law Office

Cyber Insurance Demand Increases in China Following WannaCry Outbreak

Cyber Insurance Demand Increases in China Following WannaCry Outbreak

Hong Kong — Cyber insurance needs for companies throughout Greater China and parts of Asia are expected to grow significantly, according to the American International Group Inc (AIG). The prediction is based on increased inquiry rates after the WannaCry outbreak in May.   AIG said firms asking about cyber insurance rose to 37% worldwide, while it increased to 87% last May in Greater China and Hong Kong. The WannaCry attack affected more than 200,000 computers in critical infrastructures across 150 countries.   Companies take interest in cyber insurance because they know it will protect their business, according to AIG business […]

Senators Urge Reserve Bank of Australia to Make Bitcoin an Official Currency  

Senators Urge Reserve Bank of Australia to Make Bitcoin an Official Currency  

The Reserve Bank of Australia (RBA) is being persuaded by senators Jane Hume and Sam Dastyari to recognize Bitcoin as a legitimate currency. The two senators argue that making Bitcoin an official currency will positively transform Australian financial firms and the Reserve Bank. They claim not doing so will risk Australia’s financial competitiveness, which can leave them far behind. Sources also said $145 billion worth of annual financial service earnings is at stake if Australia does not make the decision. Dastyari has shown strong support for Bitcoin for years, even proposing to legalize it since 2015. Even then, he said […]

Sony Now Ready to Use Blockchain Technology for Storing Digitized Education Records

Sony Now Ready to Use Blockchain Technology for Storing Digitized Education Records

Education records can now be arranged and stored on the blockchain as Sony announced Tuesday that it has designed a digital system for storing educational information. Sony first came up with the concept 18 months ago to use blockchains as a central ledger to store education records to produce a digital transcript. The database will include everything from diplomas and exams taken to degrees obtained by an individual. To address security issues, Sony created the system to avoid fraud. The information will be available to schools and companies for assessment while safeguarding people’s identity. It will greatly improve how universities […]

Microsoft Stops Recognizing Chinese Secure Certificates from WoSign

Microsoft Stops Recognizing Chinese Secure Certificates from WoSign

Microsoft will no longer be using Certificate Authorities (CAs) from WoSign and its ancillary company StarCom, for failing to comply to security standards. Aside from Microsoft, other major tech companies have previously dropped WoSign, including Mozilla, Google, and Apple. StarCom came under fire in October 2016 for having subpar management capabilities, according to SSL Labs, while WoSign acquired its tainted reputation for deceiving its users. Microsoft stated WoSign and StarCom had unsatisfactory practices, including duplicate certificate serial numbers, accidental certificate revocations, and mis-issuing certificates, to name a few. CAs are supposed to provide digital certificates for identity verification online. They […]

Microsoft Resolves Vulnerabilities, Patches Critical Windows Search Issue

Microsoft Resolves Vulnerabilities, Patches Critical Windows Search Issue

Last Tuesday, Microsoft ran its August Patch update and fixed over two dozen vulnerabilities, with 25 critical patches out of 48. One resolved critical flaw involved an RCE bug that enabled hackers to hijack a server using Windows Search. The RCE vulnerability allows an attacker to take advantage of the Windows Search flaw by sending a customized message to infiltrate the service. While in a business setting, an attacker could successfully activate the flaw remotely, using SMB connection. Though the flaw uses SMB connections, they clarified that it is not a vulnerability in the SMB. According to Qualy’s product management […]

Singapore CFTE and MAS To Boost ASEAN FinTech Skills for Finance Professionals

Singapore CFTE and MAS To Boost ASEAN FinTech Skills for Finance Professionals

Singapore — The Centre for Finance, Technology and Entrepreneurship (CFTE) is collaborating closely with the Monetary Authority of Singapore (MAS) to develop a financial technology (fintech) education hub for finance professionals. The CFTE was established in May to provide an education program for professionals in the ever-changing field of digital finance. Working with MAS also enables them to extend the platform to the Association of Southeast Asian Nations (ASEAN), where professionals can share more information and strategies. MAS chief fintech officer Sopnendu Mohanty stated that people are a vital resource for success in fintech. The initiative came following the increasing […]

U.K. Considers Fines for Nat’l. Infrastructures That Neglect Cybersecurity

U.K. Considers Fines for Nat’l. Infrastructures That Neglect Cybersecurity

Last Tuesday, news reported that the U.K. government is seriously examining plans to impose fines on national service providers that fail to implement effective cybersecurity measures. The move is intended for national infrastructures that provide services like energy, healthcare, water, electricity, and transportation. Its aims to provide legal regulations to help safeguard critical services from cyber attacks.   The government pursued the consultation following setbacks caused by the WannaCry ransomware outbreak on National Health Service operations. In line with this coming proposal, the government is reviewing the EU’s Network and Information Systems (NIS) Directive. Penalties could be up to £17 […]

Cisco Meraki Announced Loss of Customer Data, Clients to Reconfigure Accounts

Cisco Meraki Announced Loss of Customer Data, Clients to Reconfigure Accounts

News last week reported that Cisco lost customer data in its Meraki service, a cloud-based program designed to centrally manage network settings. Cisco owned up to the engineering mishap, stating engineers mistakenly uploaded an erroneous configuration file that dictated incorrect commands to its North American system. This resulted in files being deleted, removing all data uploaded before 11:20am PST in August 3. Some of the files that got deleted in the engineering snafu included telephony server details, summary reports, Wi-Fi floor plans, and general system configurations. To address the incident, Cisco’s engineers are now working to recover the lost data […]

Cryptocurrency Market Reaches Record High of $121 Billion, Bitcoin Shares Weaken

Cryptocurrency Market Reaches Record High of $121 Billion, Bitcoin Shares Weaken

A new all-time record has been hit by the entire cryptocurrency market, exceeding its $120 billion mark. Breaching the $120 billion limit happened within just two months, after the notable $100 billion crypto-cap was exceeded in June. Prior to the the crypto market’s increase, it experienced drops in July from $63 billion. It quickly recovered the $100 billion mark once again in August 1, during the Bitcoin Cash blockchain fork. According to sources, the combined market value of every listed digital currency is now $121.1 billion. Analysts have also tracked cryptocurrency exchanges of up to $4.3 billion within 24 hours […]

Google Fires Engineer Who Authored “Anti-Diversity” Memo  

Google Fires Engineer Who Authored “Anti-Diversity” Memo  

Google has discharged James Damore, the senior software engineer behind the anti-diversity manifesto that circulated among Google’s employees last Tuesday. Damore’s written document sparked outrage among employees earlier this week, particularly for justifying gender inequality in the tech industry. He claimed that women could not command many tech positions because they were biologically different from men. According to sources, Damore was fired by Google last Monday for spreading gender stereotypes. Google stated parts of the anti-diversity manifesto also violated their code of conduct. Currently, Damore said he is exploring all legal movements by filing a petition to the U.S. National […]