Archive for February, 2015
From: Financial Times
European and US companies have asked their authorities for urgent help in stopping the implementation of new Chinese cyber security regulations, which are expected to force local and foreign banks to use information technology equipment deemed “secure and controllable” by Beijing.
In a letter to the European Commission dated February 25 and seen by the Financial Times, six business organisations led by Business Europe and The City UK said the “worrisome” Chinese regulations “could close the door for many foreign IT companies to the Chinese banking IT market”.
From: CIO Insight
By Patrick K. Burke
Crime doesn’t pay, but it certainly costs enterprises a ton of time and money.
Organizations face serious risks associated with cyber-crime over the next three years, according to a new study commissioned by Raytheon in conjunction with Ponemon Institute.
Among some of the more harrowing findings: A lack of resources and a serious disconnect between security leaders and top business leadership are preventing companies from addressing growing cyber-security threats, and a majority of respondents (78 percent) said their organization’s top officials have not been briefed on a cyber-security strategy in the last 12 months. In addition, 66 percent of respondents believe senior leaders in their organization do not perceive cyber-security as a strategic priority.
From: Project Syndicate
WASHINGTON, DC/BRUSSELS – When the Chinese e-commerce juggernaut Alibaba listed on the New York Stock Exchange late last year, it became the world’s 17th largest publicly traded company overnight, with a market capitalization of $230 billion – larger than Amazon, eBay, or Facebook. Europe, however, seems to have missed the news.
Indeed, instead of responding to China’s digital rise, the European Union has remained fixated on the global success of American platforms like Amazon, Facebook, and Google, even threatening punitive actions against them. A couple of months after Alibaba’s IPO, the European Parliament passed a non-binding resolution to prevent online companies like Google from “abusing” their market position. The resolution called for “unbundling search engines from other commercial services.”
The clerk read each of the guilty verdicts, seven of them, while standing next to a large window that framed the Brooklyn Bridge in thin winter sunlight. That panoramic view will be one of the last Ross Ulbricht, who had just been convicted of multiple crimes, including narcotics trafficking conspiracy and money laundering, will likely enjoy for many years. The man who built Silk Road, the Amazon of what’s often called the Dark Web, took his conviction stoically, then turned and smiled at his family and supporters—young men and women who distrust the government at least as much as Tea Partyers do.
From: The Australian
AUSTRALIANS are living in a “sea of blissful ignorance” about the growing online threat of foreign spies and criminals, the country’s first cyber-security co-ordinator has warned.
In an exclusive interview with The Australian, the head of the new Australian Cyber Security Centre, Stephen Day, also revealed that a cyber-terrorist attack was “an absolute possibility” as rogue groups become better resourced.
By Andrew Conte
Pittsburgh’s prominent and growing role as a national center for cybersecurity started with a chance encounter more than 25 years ago.
On Nov. 2, 1988, researchers at the Defense Advanced Research Projects Agency, or DARPA, were ending the workday when calls started coming in from across the country. Something was slowing computer connections on the early Internet — moving freely, guessing passwords to break into systems, accessing files and quickly replicating.
The world Marc Goodman outlines in exhaustive detail in his forthcoming book, Future Crimes, is as real, gritty, and frightening as life outside the Matrix. Indeed, Goodman opens his book by quoting the classic sci-fi epic. Do you want the red pill or the blue pill? “Remember, all I’m offering is the truth.” He would know.
Goodman, who began his career as a beat cop at the Los Angeles Police Department, has worked with the FBI, US Secret Service, Interpol, and police in over 70 countries. He is an authority on today’s exponentially scaling cybercrime and a theorist of future crimes worthy of the best sci-fi but, in fact, lurking just around the corner.
Agencies should expect a cybersecurity revival of sorts from the Office of Management and Budget this year. OMB is reasserting its cyber oversight role with a new group of experts. Grant Schneider, a federal cybersecurity adviser within OMB, tells Federal News Radio Executive Editor Jason Miller about what agencies should expect from his agency in the coming months.
Cyber attackers crippled the Dutch government’s main websites for most of Tuesday and back-up plans proved ineffective, exposing the vulnerability of critical infrastructure at a time of heightened concern about online security.
The outage at 0900 GMT (0400 ET) lasted more than seven hours and on Wednesday the government confirmed it was a cyber attack.
Budget Addresses Threats Posed by Quantum Computing
By Eric Chabrow
It’s barely a drop in the bucket, but President Obama is earmarking $7 million of his nearly $4 trillion federal budget to help the National Institute of Standards and Technology provide stronger cryptographic solutions and enhance privacy tools.
If approved by Congress for fiscal year 2016, which begins Oct. 1, NIST would hire 10 new fulltime employees to work on its cryptographic and privacy initiatives.