Federal Reserve Bank of St. Louis Confirms it was Hacked

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SAN FRANCISCO — The Federal Reserve Bank of St. Louis confirmed on Tuesday that hackers had successfully hacked the bank, redirecting users of its online research services to fake websites set up by the attackers. The breach was just the latest in a spate of hackings against government systems in recent months, affecting the White House, the State Department and even the president’s own email account. In this case, the attack appeared to compromise the Internet’s routing system, known as the domain name system, or D.N.S thus was  hacked. In…

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Is Quantum computing about to make big trouble for cybersecurity?

Google
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There is a race to build quantum computers, and (as far as we know) it isn’t the NSA that is in the lead. Competing are big tech companies such as IBM, Google, and Microsoft; startups; defense contractors; and universities. One Canadian startup says that it has already developed a first version of a quantum computer. A physicist at Delft University of Technology in the Netherlands, Ronald Hanson, told Scientific American that he will be able to make the building blocks of a universal quantum computer in just five years and a fully-functional demonstration machine…

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Big Market Research: Internet Security Market Expected to Grow Positively Despite a Rise in Hacks

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PORTLAND, Oregon, April 8, 2015 /PRNewswire/ — Big Market Research adds a report titled “Global Internet Security Market – Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020.” The report states that the market would attain a value of $42.8 billion by 2020 with a CAGR of 8.1% during the year 2014 – 2020. As of now, software solution dominates the market. However it is mentioned in the report that the cloud based system would register more growth during the forecast period. (Logo: http://photos.prnewswire.com/prnh/20141014/710132 ) The widespread application of…

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Why investors should be concerned about cybersecurity breaches

Liquid Telecom
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Major security breaches continue to hit headlines, as businesses are forced to shift from focusing on the imminent nature of threats to calculating their potential financial impact. Companies are investing billions of dollars in cybersecurity, but the average return on spending for security technology is only 14%. Every year the cost of a data breach continues to rise. In spite of this, investors and shareholders don’t react strongly to news of a breach. Target’s stock fell 11% after it revealed it was the victim of one of the largest breaches ever to…

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EU hopes to abolish Internet geoblocking as it stands in the way of a modern digital market

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The European Commission has said it is resolved to do away with the common practice of the user IP-based blocking of some digital content on the Internet. It said geoblocking stood in the way of a modern digital market. The EU executive announced Wednesday it had reached a decision in principle to tear down national Internet usage barriers by scrapping the widespread practice of what’s become known as geoblocking. It’s a method of preventing users from accessing certain websites, videos, music and other content based on their location and has…

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Understanding the Impact of Internet of Things

Liquid Telecom
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While Apple and Samsung have had the benefit of being the large, dominant players in the mobile smart phone space, there are likely to be many successful entrepreneurial companies with many different Internet of Things products that help drive the next wave of innovation. It’s amazing when you stop and think about it. Your mobile phone has instant access to the sum total of human knowledge … and yet something important is missing: Contextual Awareness. Through sensors both stationary and wearable, the Internet of Things (IoT) has the potential to change…

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Cybercriminals Are Misappropriating Businesses’ Web Addresses

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As a Result, Customers Can’t Find the Real Companies on the Web Cybercriminals targeting businesses are stealing more than customer passwords and credit-card numbers these days. Some are misappropriating the very Web addresses—or domain names—of the businesses themselves. When Pablo Palatnik of Miami glanced at a Google analytics report showing Web traffic on his office TV monitor one day last month, he was alarmed to discover that traffic to his business website, Shadesdaddy.com, had plunged 80% from its usual level of as many as 10,000 visitors a day. At first,…

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US Internet Regulatory Authority (USIRA) Proposed, “No Legal Basis for IANA Transition”

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I believe that such proven methods from contemporary US Public Policy experience must be applied in administrating any Internet Governance structure that would result from the IANA Transition proposals. This further underscores the need for Congress to establish a US Internet Regulatory Authority (USIRA) which I had called for in my December 2014 article (See Congress will Oversight ICANN – CircleID). Written by Sophia Bekele on CircleID “No Legal Basis for IANA Transition”: A Post-Mortem Analysis of Senate Committee Hearing Only proper regulation by an independent agency with full Congressional…

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Google’s Domain Name Land Grab: Consumer Convenience Or Coercive Control Point?

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Internet naming decisions are the sort of Internet plumbing inside baseball that only interests policy wonks and marketing mavens. That is until an 800 pound gorilla like Google GOOGL +0.54% decides to pay $25 million for a single generic top-level domain name (gTLD). Buying “.app” for almost four-times the previous record for a gTLD not only raised eyebrows, but questions about the strategy behind Google’s expansive and expensive domain name land grab. Although the most costly, .app is merely one of over 100 gTLDs, Google had already spent nearly $20…

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CIO: The Cybercrime Economy Personified

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While the Center for Strategic & International Studies and McAfee estimated the annual cost to the global economy from cybercrime at $375 billion conservatively and $575 billion maximally as of June 2014, at least one expert stands by cost figures that are many times those numbers. “U.S. companies and the U.S. economy lose approximately $500 billion each year to theft of trade secrets and innovation. This includes all forms of economic espionage where cybercrime plays a major factor. When you factor the 10-year life of the investment in innovation, the…

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