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Computer Security No 25: Rehearsal to take down America?

Corporate Computer Security

- Rehearsal to take down America?

- UK Financial fraud losses soar to 25% in the first half of 2016

- The good old days…are gone

- Course on Cyber security and Privacy for Directors and Senior Management

- Jokes

As soon as I hit the send button last Friday for the Security Newsletter, we got the news about the terrifying attack on Dyn, which provides network traffic management services to Facebook, Paypal, Netflix, Twitter, Spotify, AWS, AirBnB, Reddit, GitHub and many other large companies.

About Over 50 Rehearsal to take down America?

How it happened:- The attackers exploited a software bug in cameras and webcams produced by a Chinese company, Hangzhou Xiongmai Technology.

The company is now recalling four models of its Internet connected cameras (4.3 million of them). The malware, called Mirai, was partly responsible for the attack.

The attackers transformed these cheap devices into weapons that acted as Botnets (devices connected to Internet that can act in a Command and Control way by passing messages to each other and to the websites they connect).

Bruce Schneier, one of the veterans of cryptography calls it IoT pollution:

"The owners of those devices don't care. Their devices were cheap to buy, they still work, and they don't even know [the victim]. The sellers of those devices don't care: they are now selling newer and better models, and the original buyers only cared about price and features.

There is no market solution because the insecurity is what economists call an externality: it's an effect of the purchasing decision that affects other people. Think of it kind of like invisible pollution."

Many saw this was a rehearsal to take down America. Others thought it was provoked by Wikileaks…no one knows and the perpetrators are yet to be found.

UK Financial fraud losses soar to 25% in the first half of 2016

The major losses are caused by credit and debit card breaches. The total loss is close to GBP 400 million ; prevented fraud is GPB 680 million. Financial Fraud Action UK urges customers to be vigilant against unsolicited phone calls, SMS and emails.

To read more:

www.thepaypers.com

The good old days...are gone!

About Over 50 Rehearsal to take down America?

Source: Techcrunch.com

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