Cybersecurity

Crypto-currencies’ strength becomes their weakness

29 Sep 2017

Freedom from regulation was the big draw of bitcoin, ether and the like. But exchanges established to trade them often lack basic controls on identity, fraud, tech and even volume. Without fixes, digital currencies will stay on the financial fringe, prone to crime and bubbles.

Botched SEC hack probe a warning for other agencies

26 Sep 2017

Chair Jay Clayton says he doesn’t know the exact timing of a 2016 breach and his predecessor may not have been notified. It’s troubling given the sensitive market data kept there, and a heads up for the CFTC and other watchdogs. Investor worry over their defenses is justified.

Equifax can’t even oust its failed CEO effectively

26 Sep 2017

Rick Smith is "retiring," as the euphemism goes, after a massive cyber attack and fumbled response - and with little financial penalty. The interim management plan makes clear the board hadn't planned succession adequately either. Equifax needs regime change at every level.

SEC failure puts U.S. cyber security on back foot

21 Sep 2017

Unlike the Equifax hack, the breach into the watchdog’s systems doesn’t put people’s data at risk. But the SEC buried its belated disclosure of the attack in a broader statement on cyber issues. It sets a terrible example on transparency for the publicly traded firms it oversees.

Equifax boss in danger of getting Stumpfed

12 Sep 2017

The U.S. credit-scoring agency has now lost a fifth of its market value since revealing a massive hack. A bumbling response leaves CEO Rick Smith on the back foot as lawmakers and consumers demand answers. Under similar circumstances, Wells Fargo's John Stumpf paid with his job.

Equifax hack provides an Exxon Valdez moment

8 Sep 2017

Sensitive personal data of 143 mln consumers may have been compromised at one of the big U.S. credit-grading agencies that double as gatekeepers. Just as the oil shipwreck spurred anti-pollution policy, Equifax could be the best catalyst yet to rethink corporate cyber security.

Tencent is biggest target in China cyber crackdown

16 Aug 2017

As Beijing's campaign to control content gathers pace, gaming giant Tencent, which delivered another set of strong quarterly results, is an easy target for censors. Its soaring market value, however, suggests investors have yet to factor in the risk to earnings.

Ransomware reveals tech challenges past and future

28 Jun 2017

The Petya cyber attack spread from Ukraine to 65 countries, infecting software that could have been patched. Human error enables hacking of today's IT setups, making prank emails that deceived bank bosses alarming, too. The cloud reduces that danger – but introduces others.

UK cyberspace crackdown faces reality checks

5 Jun 2017

Prime Minister Theresa May pledged new curbs on extremist propaganda and communications via YouTube, WhatsApp and the like following attacks in London and Manchester. Such promises can be good politics, but to actually happen they must make technological and economic sense.

Attacks on UK add tension to “strong and stable”

5 Jun 2017

Murders by militants in London and Manchester come at a time when Britain is already badly split on economic, geographic and demographic lines. Such atrocities show why Prime Minister Theresa May’s pledge of firmer government resonates, but also why it will be so hard to deliver.

WannaCry exposes glitch in tech business model

15 May 2017

Britain’s health service was among users of Microsoft Windows hit by a virus because they hadn’t installed an update. This is, in theory, the user’s fault. But when customers are big, or the result of their negligence is grave, it’s the company that’s likely to end up bearing the cost.

Infineon U-turn is canary in Trumpian coal mine

9 Feb 2017

The German semiconductor group abruptly warned its Wolfspeed deal could be blocked by the U.S., a week after saying all was well. American regulators have tended to get antsy when Chinese deals are involved. A protectionist in the White House implies this could now be broadened.

Kaspersky finds fighting cybercrime leaves bruises

30 Jan 2017

The Russian group's jump in 2015 earnings shows protecting corporate clients from hacking is a growth industry. Post-U.S. election, it should be in line for a further spurt. Yet the arrest of one of its experts by Moscow suggests reputational risk is its real challenge.

Verizon-Yahoo union faces death by a billion hacks

14 Dec 2016

The telecom giant's $4.8 bln deal to buy the internet outfit's core business was already in question after it revealed 500 mln user accounts may have been breached. Now Yahoo has flagged another intrusion, twice as large. It's increasingly easy – and smart – for Verizon to walk.

Huawei’s cyber diplomacy short on reciprocity

14 Sep 2016

A new security guide for tech buyers looks like a sales pitch for Chinese telecom giant Huawei, which is more likely to benefit than co-sponsor Microsoft. That won't do much to persuade Washington and Beijing to lower tech barriers over potential electronic spying.

Intel takes schmuck insurance to cyber extremes

7 Sep 2016

The chipmaker run by Brian Krzanich is selling 51 pct of its McAfee security software business to TPG for $1.1 bln. It's an embarrassing comedown for a firm Intel acquired for $7.7 bln in 2010. Intel just may find some redemption, however, if the buyout firm can work some magic.

Review: Iran cyber hack opened a Pandora’s box

29 Jul 2016

The documentary "Zero Days" takes a thriller-style look at the unprecedented attack on the country's nuclear facilities using the Stuxnet virus. It shows the lack of norms in this new kind of war. What’s left unexplored is how companies have become fair game in cyber battles.