Posts in Security News
New Bill Passed in Australia Destroying Privacy - Forcing Tech Firms to Allow Spying on Your Encrypted Data

Under the guise of giving their security agencies the extra tools needed, the Australian government passed a draconian law where companies will be obligated to hand over your encrypted data (linked to suspected activity) and could be fined up to 10 million Australian dollars if they fail to. This is the latest in the move of many governments to sacrifice freedom for a false sense of security.

Source: https://www.reuters.com/article/us-australia-security-data/australia-poised-to-force-tech-firms-to-hand-over-encrypted-data-idUSKBN1O42SR

Race to Protect Against A Future With Quantum Computing

This article states that the worlds biggest technology companies are competing to protect themselves from the first quantum computer. In theory a quantum computer would be far more powerful than current day computers, being able to break most encryption algorithms we use to protect everything from governments to banks. While building quantum computers is still far from happening, China has become a leader in quantum encryption (encryption algorithms that are less susceptible to quantum computing because of their fundamental design) and the Chinese government has made different kinds of quantum research a priority.

Source: https://www.nytimes.com/2018/12/03/technology/quantum-encryption.html

Cybersecurity Spending Increase in the U.S. Finance Industry

As they face more threats and sophisticated attacks, financial firms in the United States are projecting higher spending on information security.

Many financial firms have also increased their information sharing and backup systems for client data to prevent service disruptions during a major hack.

Source: https://www.bloomberg.com/news/articles/2018-12-03/u-s-financial-firms-to-further-increase-cybersecurity-spending

Marriott Breach Exposes Data of Up to 500 Million Guests

Per the article, the reservation system of the international hotel chain has been hacked today and the personal data of up to 500 million of Marriott’s customers have been exposed.

Since they hold a lot of sensitive information, including credit card and passport details, hotels are an attractive target for hackers. Another main reason for cyber attacks on the hotel industry is the lack of tough security standards such as those used by banking and high-tech industries.

Source: https://www.nytimes.com/2018/11/30/business/marriott-data-breach.html

Amazon Hit With Major Data Breach

Two days before Black Friday, the e-commerce giant Amazon was hit by a major data breach which lead to a leak of some of their customers names and emails.

Amazon sent an email to the customers affected confirming that the technical issue that lead to the accidentally posted data has been fixed.

Source: https://www.theguardian.com/technology/2018/nov/21/amazon-hit-with-major-data-breach-days-before-black-friday

Microsoft CEO: Data Privacy as a Human Right

Microsoft CEO Satya Nadella called on tech companies to protect users from cyber threats and voiced his support for privacy as a human right.

Big technology leaders like Satya Nadella and Tim Cook have been showing their concerns and their support for regulation amid ongoing data privacy concerns.


Source: https://www.cnbc.com/2018/11/01/microsoft-ceo-tech-companies-need-to-defend-privacy-as-a-human-right.html

Tim Cook: "Inevitable" Regulations for Tech Firms are Right Around the Corner

According to Tim Cook - Apple’s CEO, U.S. technology companies should brace themselves for “inevitable” regulation. He is predicting that the U.S. government would pass new laws targeting technology firms to prevent the misuse of personal data.


Source: https://www.theguardian.com/technology/2018/nov/19/tim-cook-tech-firms-prepare-inevitable-regulation-cambridge-analytica

A New DHS Agency Set to Become the Top Federal Cyber Cop

Congress passed a bill earlier this week that will create the new unit within the Department of Homeland Security. The purpose of the organization is to protect critical infrastructure in the United States.

According to the Washington Post, the new agency will elevate the cybersecurity mission within the Department of Homeland Security, and it will also be responsible for coordinating with other government entities.

Source: https://www.washingtonpost.com/news/powerpost/paloma/the-cybersecurity-202/2018/11/16/the-cybersecurity-202-trump-set-to-make-a-new-dhs-agency-the-top-federal-cyber-cop/5bedb9a71b326b3929054867/?utm_term=.61388e51b53c

The Importance of Cybersecurity in Family Offices

Accoridng to this article, close to 30% of family offices and family businesses in the United States have already been victims of cyber attacks.

Forecasts indicate that the global cost of cyber-crime could reach around $6 Trillion by 2021, with up to 90% of all companies falling victim to cyber attacks.


Source: https://www.forbes.com/sites/francoisbotha/2018/11/10/why-family-offices-need-to-prioritize-cyber-security/#cb3d0a7601ab