Press Room – Information Security and Data Privacy – w3#0916

1. U.S. Department of Homeland Security To Create Bitcoin Deanonymization Tool

The crackdown on the darknet marketplace Silk Road and other criminal cases involving bitcoin has proven that the cryptocurrency in nature is not anonymous. Using state resources, the U.S. Department of Homeland Security (DHS) Science and Technology Directorate stated that it intends to create a bitcoin deanonymization tool with the help of government-backed Sandia National Laboratories.

2. Facebook Photos Lead to Hacking of Facial Recognition System

 

3. Cyber-criminals select insiders to attack telecom providers

Cybercriminals are using insiders to gain access to telecommunications networks and subscriber data, according to Kaspersky Lab. In addition, these criminals are also recruiting disillusioned employees through underground channels and blackmailing staff using compromising information gathered from open sources.

4. The Microsoft ruling: Mending EU-US digital relations – EurActiv.com

Microsoft’s successful appeal against a US Department of Justice request to access emails stored on its foreign servers marks an important milestone for international consumer privacy and the tech community, writes Brian Stafford.

 

5. Cybersecurity directive not enough to protect digitising European industry – EurActiv.com

Cybersecurity rules have been patchy at best and lacking at worst. So the adoption of the NIS Directive on security of network and information systems is a landmark development. Nomi Byström asks whether it is enough for our increasingly connected society.

Nomi Byström is a postdoctoral researcher in Digital Disruption of Industry at Finland’s Aalto University.

The new legislation was adopted on 6 July and entered into force in August. Member states will have to transpose it by 9 May 2018. To identify operators of essential services, they have been granted another six months.

Notably, the NIS Directive has been linked with the Commission’s plan to digitise European industry – also called the Industrial Internet of Things (IIoT) or Industry 4.0. – which is part and parcel of completing the Digital Single Market.

Currently, the manufacturing sector accounts for 33 million jobs, 2 million enterprises and 60% of productivity growth. In the next five years, digitisation of products and services may add over €110 billion of revenue annually. Moreover, the completion of the DSM could contribute €415 billion per year and create hundreds of thousands of new jobs.

6. The EU just told data mining startups to take their business elsewhere – EurActiv.com

Startups will be hurt by a restriction on text and data mining in the European Commission’s proposal to change EU copyright law, writes Lenard Koschwitz.

Lenard Koschwitz is director of European affairs at Allied for Startups.

The European Commission is working on some policy changes to improve the situation of startups in Europe, but at the same time it wants to prevent startups from using text and data mining technology. Later this month, the Commission will propose rules on copyright that will benefit data analytics – but only for non-commercial research. That means you can develop an idea or algorithm in a European university and mine the data there, but you won’t be able to transform the results in a scalable and successful startup in Europe.

Mining is the automated processing of large amounts of digital information to discover new trends and knowledge. Data analytics can improve weather forecasts, extend the lifespan of devices and machines and predict a crash before it happens.

7. Goznym banking trojan targeting german banks

GozNym’s Euro trip rolls on. Fresh from targeting banks in Poland, the banking Trojan has reportedly begun taking aim at banks in Germany. For many, August marks the long, dog days of summer but developers behind GozNym appear to be working hard. According to numbers published by IBM’s X-Force team this week, researchers have seen a 3,550 percent hike in the Trojan this month over numbers it saw in July. The surge marks a 526 percent rise when compared to the total number of attacks since the Trojan’s iteration.

8. Gugi banking Trojan outsmarts Android 6 security

A modification of the Gugi banking Trojan that can bypass Android 6 security features designed to block phishing and ransomware attacks. The modified Trojan forces users into giving it the right to overlay genuine apps, send and view SMS, make calls and more.

 

9. London economy hit hard by security breaches – Help Net Security

A new report by the Conservative members on the London Assembly, which help scrutinise the work of the Mayor of London, estimates that in 2015 in London 329,515 organizations experienced some form of security breach.

“In London specifically, it is possible to estimate conservatively that the cost to the economy from security breaches could be in the region of £35,997,500,000 per year,” the group said, and proposed a new “Mayoral Standard” for data security.

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