Bitcoin rate drops further as Twitter bans crytocurrency ads on fraud fears
Businessam Staff
March 28, 2018
Twitter, on Monday, prohibited the advertising of cryptocurrencies, crypto exchanges and wallet services from its platform, sending the value of bitcoin diving below $8,000. The social media platform announcing the new policy join its contemporaries Facebook and Google in a global clampdown of avoiding giving publicity to potential fraud. “We are committed to ensuring the safety […]
Federal Trade Commission launches probe into Facebook data scandal
Businessam StaffMarch 26, 2018
The Federal Trade Commission said it had opened an investigation into Facebook’s privacy practices following the Cambridge Analytica scandal in which the data of 50 million users was misused. Tom Pahl, the acting director of the FTC’s Bureau of Consumer Protection, warned in a statement according to Financial Times, that the privacy watchdog was committed […]
Facebook, Cambridge Analytica hit with first state lawsuit
Businessam StaffMarch 24, 2018
Facebook and Cambridge Analytica are already dealing with numerous private lawsuits over non-consensual data sharing, but they now have to grapple with a state-level lawsuit. Illinois’ Cook County has filed a lawsuit against both companies accusing them of violating the state’s Consumer Fraud and Deceptive Business Practices Act. Cambridge Analytica allegedly broke the law by […]
IETF approves new security standard to make web safer
Businessam StaffMarch 24, 2018
The Internet Engineers Task Force (IETF) has unanimously approved Transport Layer Security version 1.3, a security framework that will make encrypted connections on the web faster and more resistant to snooping. TLS 1.3 is the kind of iterative improvement that keeps the web working in the face of malicious actors everywhere. The IETF is a body of engineers […]
World Economic Forum leads creation of fintech cybersecurity consortium
Businessam StaffMarch 6, 2018
The World Economic Forum has led the creation of an industry consortium focused on improving the cybersecurity of financial technology companies, as collaboration between fintechs and financial institutions grows. The consortium’s founding members include Citigroup Inc , online lender Kabbage, the Depository Trust & Clearing Corporation, Zurich Insurance Group and Hewlett Packard Enterprise, the companies […]
Forcepoint suggests human-centric approach as solution to $450 million cybersecurity breaches
Businessam StaffFebruary 28, 2018
Forcepoint, a leading global private cybersecurity company, has called for a human-centric approach to solve cybersecurity breaches by private organisations and governments in Nigeria. He spoke against the backdrop that Nigeria lost $450 million to cybersecurity breaches in 2017. Christo Van Staden, regional manager for Sub Saharan Africa, at the official unveiling of CBC EMEA […]
Major tech leaders sign charter to boost cybersecurity in govt., businesses
Goddey OdinFebruary 19, 2018
Major tech leaders late last week signed a cybersecurity charter outlining methods for businesses and governments to increase their security positions. The document was signed at the Munich Security Conference 2018, in Munich, Germany. According to reports, ‘ The Charter of Trust’ was signed by representatives from Siemens, Airbus, Allianz, Daimler Group, IBM, MSC, NXP, […]
Hackers secretly mine cryptocurrency with Google Play Store apps on Android phone
Businessam StaffFebruary 17, 2018
Sophos, a British security software and hardware company in a statement revealed 19 Android apps that secretly mine the cryptocurrency Monero in the Google Play Store. Monero is an open-source cryptocurrency created in April 2014 that focuses on privacy and decentralization that runs on Windows, macOS, Linux, Android, and FreeBSD. The security firm has published […]
Hackers steal $6m from Russian bank via SWIFT system- central bank
Businessam StaffFebruary 16, 2018
Unknown hackers stole 339.5 million roubles ($6 million) from a Russian bank last year in an attack using the SWIFT international payments messaging system, the Russian central bank said on Friday, according to Reuters. The disclosure, buried at the bottom of a central bank report on digital thefts in the Russian banking sector, is the […]
The Olympics are an irresistible target for cybercriminals
Businessam StaffFebruary 9, 2018
The Olympic Games are a massive draw, not only for sports fans, but also for cybercriminals. It’s a high-profile event taking place in a concentrated location that attracts large numbers of visitors, many of whom will be spending a lot of money. The Winter Games kicking off Friday in Pyeongchang, South Korea, are no exception. […]