Archive for August, 2016
The Federal Trade Commission (FTC) has released recommendations for consumers to protect their personal data when using rental vehicles. Rental vehicles may contain infotainment systems that can connect with personal devices to stream music, allow hands-free calls and texts, or guide navigation. However, using connected vehicles can increase the risks of having personal data compromised. By taking precautions, users can protect themselves and their personal information.
The central bank of Singapore is making a move to put digital currency exchanges under its oversight.
The Monetary Authority of Singapore (MAS) is reportedly proposing a new regulatory framework for payments providers, including digital currency exchanges, in the city state, according to CoinDesk.
From: ABC News (AU)
By Defence Reporter Andrew Greene
India’s Defence Minister has suggested the leaking of sensitive submarine documents from French shipbuilder DCNS could be the result of overseas hacking.
DCNS, which has also been chosen to build Australia’s $50 billion next generation of submarines, has been rocked by the leak of 20,000 pages of sensitive material relating to a similar project in India.
The Australian newspaper has reported the leaked material includes the entire secret combat capability of the six Scorpene-class submarines the French are building for the Indian Navy.
The cost, scrutiny and pressure of dealing with a data breach will become more apparent in the near future as European legislation takes effect
The EU cyber security and regulatory environment is soon set to change significantly, challenging organisations to rethink how they protect customer data and deal with the consequences when things go wrong. Data breaches remain a primary area of concern. A Deloitte report on the business impact of a cyber attack recently showed that 89% of the impact of a breach comes from three factors:
- Value of lost contract revenue;
Editor’s Note: And yet the FCC seems intent on making life easier for the world’s cyber criminals.
By Chris Bing
By 2021, cyber crime is expected to cause roughly $6 trillion worth of annual damages, annually, according to a newly published report authored by Cybersecurity Ventures and backed by security consulting giant The Herjavec Group.
If the $6 trillion figure ultimately proves accurate, it would represent double of that reportedly witnessed this year — totaling $3 trillion in estimated damages experienced by governments, businesses and private citizens at the hands of cyber criminals. The World Economic Forum also estimated the economic cost of cybercrime to be approximately $3 trillion worldwide.
The Maryland Air National Guard’s new 175th Cyber Operations Group is one of only two Cyber Operations Groups in the Air National Guard.
The group’s federal mission will be to protect Air Force and U.S. critical infrastructure against cyberattacks along with conducting exploitation and attack.
From: Australasian Lawyer
by Sol Dolor
Clayton Utz is urging the Australian government to quickly establish the proper legal and regulatory framework to be in lockstep with the adoption of fast-developing driverless vehicle technology.
In a new detailed report titled “Driving into the future: Regulating driverless vehicles in Australia,” the top firm makes recommendations hinting that failure to accommodate for automated vehicles within the law could mean Australia misses out on substantial safety, productivity and economic gains.
From: The Telegraph
This is not the first time that concerns about Chinese involvement in British infrastructure have been raised. In 2013 the Intelligence and Security Committee, which I chaired, issued a critical report on the decision to allow Huawei – a Chinese telecommunications giant with links to the Chinese military – to provide equipment to a 10-billion-pound upgrade of the national telecommunications network in 2005. Given China’s known capacity for cyber-hacking and cyber-espionage around the world, the Committee was “shocked” that no serious attempt was made to analyse potential backdoor systems provided by Huawei. In effect, it meant that Huawei might have introduced systems into Britain’s national infrastructure which allowed Beijing to spy at will on Britain’s Government and people.
From: The Diplomat
The Chinese government is steadily moving ahead with a ten-year IT plan that lays out a broad set of information technology goals and also signals a continuing commitment to increasing government oversight and control in cyberspace. On July 27, 2016, the State Council and the Communist Party Central Committee jointly released a blueprint for the country’s national IT strategy, which will guide Chinese government policy efforts over the next decade. Beijing sees the plan and its targets as critical to establishing China as an innovation and technology “powerhouse.”
From: Road Show | CNET
You thought this was nearing a conclusion? We’ve only just begun!
by Andrew Krok
It looks like Volkswagen’s diesel scandal could keep rolling as reports claim that the automaker has three hidden software programs in its 3.0-liter engines.
“We continue to work closely with the EPA and CARB to try to secure approval of a technical resolution for affected vehicles with 3.0L V6 TDI engines as quickly as possible,” Audi said in an emailed statement. “As stated in today’s Court hearing, an updated proposal is undergoing thorough testing and analysis and we intend to submit this to the regulators in August. The Court has instructed the parties to report on the status of these discussions on August 25.”