Author: Disini & Disini Law Office

Fintechs Cautious Over US Banking Regulator’s Special Federal Charters Offer

Fintechs Cautious Over US Banking Regulator’s Special Federal Charters Offer

Online lenders have reportedly sounded a cautious note on an offer from the Office of the Comptroller of the Currency last month which would accept applications for banking licenses from such fintechs. The offer could allow the companies to operate under one banking license instead of a patchwork of state-specific regulations. While fintech executives applauded the decision, a lot are hesitating to rush in due to concerns over legal challenges and requirements that are likely to be increasingly onerous. No company has applied for the charter yet as most are expecting a legal battle to ensue between the federal government […]

Police Body Cams Now Vulnerable to Hacking

Police Body Cams Now Vulnerable to Hacking

Principal cyber security Consultant at Nuix Josh Mitchell revealed at DefCon a number of ways in which police body cam footage can be accessed remotely, which can result to the compromise of evidence. After analyzing body cam models by Axon’s Vievu, Patrol Eyes, Fire Cam, Digital Ally, and CeeSc, Mitchell said that he found bugs that could allow an attacker to delete footage outright, edit objects out of content, make changes to file structures, and re-upload modified footage silently and covertly. He added that there were security issues associated with mobile apps, software, and cloud services that the body cameras […]

Twitter Blocks Conspiracist Alex Jones for Seven Days

Twitter Blocks Conspiracist Alex Jones for Seven Days

Twitter said this week that it will be blocking Alex Jones from posting on the platform for seven days for previously posting a policy-violating video. The spokesperson said that Jones’ posted a video linked to Periscope, a live-streaming app owned by Twitter. Jones’ account will now have limited functionality for seven days and will be unable to tweet or retweet, but can still be used to read the posts of others. Twitter’s move was the latest in a series of actions by various tech platforms against the known conspiracy theorist. Source: CNBC

China May Use Cybersecurity Standards Against US Tariffs

China May Use Cybersecurity Standards Against US Tariffs

An expert recently commented that China may use cybersecurity standards to retaliate against Washington’s tariffs, a move likely to affect American companies. The standards, which are technically voluntary government issued guidelines, are often treated as mandatory by Chinese partners of foreign firms. It is said that the hundreds of national standards issued by Beijing over the past several years are making it increasingly difficult for firms to thrive in the country’s market.     Experts add that the standards, unlike tariffs, are less likely to be relaxed after the Sino-US trade war blows over because of President Xi Jinping’s efforts to […]

New “Foreshadow” Flaw Discovered on Intel Chips  

New “Foreshadow” Flaw Discovered on Intel Chips  

Researchers from KU Leuven university in Belgium and Adelaide and Michigan universities recently discovered another flaw affecting Intel chips which can be used by attackers to access sensitive information. Prof. Thomas Wench from the University of Michigan says that the attack is similar to the Meltdown vulnerability discovered six months ago. However, the new bug named Foreshadow can allow attackers to target and leak any data from the secure enclaves of Intel processors. Intel had already created a fix which disables some of the features on its chips which makes the flaw possible. The chipmaker added that while the fix […]

Tencent Shares Fall After Chinese Regulators Block Sales of “Monster Hunter”

Tencent Shares Fall After Chinese Regulators Block Sales of “Monster Hunter”

Tencent shares fell more than 3% last Tuesday after it was announced that the tech giant will not be able to sell a hugely popular game called “Monster Hunter: World” on its WeGame distribution platform. Chinese regulators reportedly banned the game for not meeting regulatory requirements. However, a source close to the matter said that the removal was due to bureaucratic infighting with the country’s new regulator. The tech giant’s gaming business has become a significant source of revenue, with titles like “Honor of Kings” boosting smartphone gaming revenues up by as much as 68%. Source: CNBC

Bitcoin Drops to $6000, Lowest Level of 2018

Bitcoin Drops to $6000, Lowest Level of 2018

Bitcoin fell to $5900 last Monday for the first time since June, taking the majority of other cryptocurrencies along with it. According to CoinDesk’s index data, the world’s biggest virtual currency by value went down by 4% before recovering to $6112. Meanwhile, Ethereum fell to its lowest level since September to $267.61, while Ripple retreated to 27 cents. CryptoCompare CEO Charles Hayter says that the downtrend was due to the postponement of a bitcoin exchange-traded fund (ETF) proposed by VanEck and Solid X.   Source: CNBC

Malaysia Places Fourth in AI Adoption in Southeast Asia

Malaysia Places Fourth in AI Adoption in Southeast Asia

According to a recent survey by IT market research and advisory firm IDC titled IDC Asia/Pacific Enterprise Cognitive/AI says that AI adoption in Southeast Asia is on the rise, with 34% of organisations in Malaysia revealing plans to adopt AI in the next two years. Malaysia also placed fourth with 8.1% of all companies being open to the adoption and integration of artificial intelligence into their operations. It is said that Malaysia’s increasing focus on AI is brought by its smart cities initiatives and applications in public safety and intelligent transportation. However, a these initiatives would need more time to […]

Indian Gov’t Asks Amazon to Set Up Local Servers for Protection of Customer Data

Indian Gov’t Asks Amazon to Set Up Local Servers for Protection of Customer Data

India’s Electronics and Information Technology Minister Ravi Shankar Prasad recently asked Amazon India head Amit Agarwal to set up servers within the country to prevent the unregulated migration of customers’ personal data. Prasad said that while big foreign companies are welcome in India, it is important that they keep the data of Indian customers in onshore servers and the consent of the subject is obtained. Amazon India has not yet made an official reply, but government officials said that the company is already making efforts towards the data protection of Indians. Source: Business Standard

Australian Encryption Bill Promises No Backdoors, but Still Full of Loopholes

Australian Encryption Bill Promises No Backdoors, but Still Full of Loopholes

It was recently reported that Australia’s Telecommunications and Other Legislation Amendment (Assistance and Access) Bill 2018, which was released on Tuesday, promises not to weaken encryption and will not compel providers to implement vulnerabilities into forms of electronic protections. However, it was pointed out that the Bill creates a framework for providing access to endpoint devices which means that messages can be intercepted before they are encrypted. It will also require providers to use software given by the government, which could include spyware. It was also pointed out that there was a possibility that providers may substitute a service they […]