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Banks remains top cybercrime targets globally

December 2, 2016 Staff Writer

As digital technology develops, the business organizations continue to experience more transformations and disruptions exposing themselves to more opportunities and threats. Attacks against the finance industry are becoming increasingly sophisticated and highly targeted. The economic crime has as well gone digital as every sector of commerce digitalizes. According to a U.S. cybersecurity report released by IBM, the financial-services industry ranked third in number of cyberattacks in 2015, after health care and manufacturing. Reports also indicate that there were 2.46 million cyber incidents and 2.11 million victims of cyber crime in…

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Brookings Study estimates cost of internet shutdowns in 2015 at $2.4 billion

October 25, 2016 Staff Writer

Whenever there’s a shutdown of internet access or restrictions placed on an app, we shake our heads disapprovingly because we know it’s a fundamentally bad idea to do that. But what exactly is the cost of those shutdowns? A new study from the Brookings Institution suggests well over $2 billion over the last year. The study, by Brookings analyst Darrell West, is a very rough estimate of these costs. We’re talking back-of-napkin rough — well, assuming you were sitting at the bar with MIT and World Bank economists. Essentially, West…

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Oracle acquires Palerra to upgrade Cloud Security

September 21, 2016 Staff Writer

Oracle has just concluded the agreement to acquire Palerra last Sept. 18. The move is expected to bolster the company’s push to expand its Identity Cloud Service, which is touted as a next-generation security and identity platform for the cloud. Both companies did not provide any details about the recent acquisition, particularly the cost involved. However, one should remember that Palerra has raised $25 million in funding last year. This figure should provide some insight regarding its value. “Together, Oracle and Palerra will help accelerate cloud adoption securely by providing…

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Zuckerberg “deeply disappointed” by the Internet.org, SpaceX Falcon 9 rocket explosion

September 2, 2016 Staff Writer

Earlier today, a SpaceX Falcon 9 rocket exploded on the launch pad for no apparent reason. While we’re still trying to learn more about what happened, we already know that the company was doing a test, and an anomaly created a big mess. Fortunately, all personnel were clear of the launch pad. But this incident is going to affect Facebook’s Internet.org effort in a significant way as a satellite was also destroyed in the process. While insurance companies are going to pay out for today’s failure, the SpaceX rocket was…

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A Greener South Africa Thanks To UberGreen

May 5, 2016May 6, 2016

A new initiative by Uber seeks to make the South African environment cleaner by reducing carbon dioxide emissions. In South Africa, 13% of carbon dioxide emissions are on account of the transport industry. Uber through a partnership with BMW and Nissan is seeking to bring that percentage down with UberGreen. UberGreen is a pilot project where Uber users will be able to request Electric vehicles, the BMW or the Nissan LEAF. These vehicles will be operated by drivers at Uberx prices giving Uber users the satisfaction that they are helping…

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Hackers Breach Top Wall Street Law Firms, Including Cravath Swaine & Moore LLP, Weil Gotshal & Manges LLP

March 31, 2016

Reuters: Hackers broke into the computer networks of some big U.S. law firms, including Cravath Swaine & Moore LLP and Weil Gotshal & Manges LLP, the Wall Street Journal reported on Tuesday. Federal investigators are looking to see if confidential information was stolen for insider trading, as these law firms represented Wall Street banks and big companies, the Journal said, citing people familiar with the matter. Other law firms were also targeted, but the probe has not amounted to any clear information on what details have been stolen, the newspaper…

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Statista analyses Sandberg’s eighth anniversary at Facebook

March 24, 2016May 16, 2016 Staff Writer

In 2008, Facebook was still a startup. Early investors were excited about its user growth — Microsoft had put $240 million into the company at a crazy-seeming $15 billion valuation the year before. BusinessInsider reports Mark Zuckerberg CEO and founder then hired Sheryl Sandberg, then the VP of global sales and operations at Google, to help run the company as its chief operating officer. Today is Sandberg’s eighth anniversary at the company, and this chart from Statista shows it all. Facebook has grown its revenue more than 65x, gone from a $56…

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Android app Malware steals two-factor SMS codes, hijacks big Australian banks systems

March 11, 2016

Millions of customers of Australia’s largest banks are the target of a sophisticated Android attack which steals banking details and thwarts two-factor authentication security. Commonwealth Bank, Westpac, National Australia Bank and ANZ Bank customers are all at risk from the malware which hides on infected devices waiting until users open legitimate banking apps. The malware then superimposes a fake login screen over the top in order to capture usernames and passwords. The malware is designed to mimic 20 mobile banking apps from Australia, New Zealand and Turkey, as well as…

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Here the 10 biggest 2016 startup opportunities

January 13, 2016February 11, 2016 Staff Writer

The year 2015 was all about drones, virtual reality, 3D printing, and the Internet of Things (IoT). This year, venture capitalists and industry observers say the tech world should expect more of the same. “Most hot startups in 2016 won’t be trying to lead revolutions or usher in whole new industries,” says Igor Shoifot, an investment partner with TMT Investments. “Instead, they’ll be enhancing existing technologies, products, services, or transactional ecosystems by saving users time, money, effort, and helping them make better choices more easily.” However, according to CIO, the…

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Apple suspends online TV service development efforts: Bloomberg

December 10, 2015February 11, 2016 Staff Writer

Apple Inc has suspended plans to offer a live Internet-based television service and is instead focusing on being a platform for media companies to sell directly to customers through its App Store, Bloomberg reported on Tuesday. Apple’s plan to sell a package of about 14 channels for $30 to $40 a month has run into resistance from media companies that want more money for their programing, Bloomberg reported, citing a person with knowledge of the matter. Apple was in discussions with broadcasters such as CBS Corp and Twenty-First Century Fox…

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