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News on Medial
US issues cybersecurity-related sanctions on Intellexa, Treasury website shows
Reuters
·
1y ago
Medial
Amazon Web Services (AWS) has announced its plans to establish data centers in Saudi Arabia by 2026 and invest over $5.3 billion in the country. This move by the cloud division of Amazon.com highlights its commitment to expanding its presence in the Middle East and tapping into the growing demand for cloud services in the region. The establishment of data centers in Saudi Arabia will help AWS cater to local businesses and organizations, providing them with faster and more reliable access to cloud computing resources.
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Related News
Spyware makers express concern after US sanctions spyware veteran
TechCrunch
·
1y ago
Medial
The U.S. government has announced sanctions against Tal Dilian, the founder of government spyware maker Intellexa, and his business associate Sara Aleksandra Fayssal Hamou. Treasury officials accuse them of developing and selling spyware used to target Americans and enable human rights violations. This marks the first time the U.S. has targeted individuals responsible for spyware companies. Former industry insiders express concern and suggest that Dilian's disregard for regulations may have led to these sanctions. The move may prompt the spyware market to reflect on its practices and potential risks.
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US Senate panel urges treasury department to make tech firms comply with sanctions
Economic Times
·
1y ago
Medial
Democratic US senator Mark Warner, who heads the Senate Intelligence Committee, has called on the US Treasury Department to ensure that major tech firms, such as Meta Platforms and Alphabet, comply with sanctions against foreign firms that advertise on their platforms. Warner highlighted that companies like Google and Facebook continue to disregard US sanctions rules and provide adtech services to entities with ties to foreign adversaries. In his letter to Treasury Secretary Janet Yellen, Warner emphasized the importance of enforcing compliance with US sanctions, especially with upcoming elections in many countries.
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US sanctions Beijing-based cyber group for its alleged role in hacking incidents
Economic Times
·
6m ago
Medial
The US Treasury has sanctioned Beijing-based Integrity Technology Group, Inc. for its involvement in hacking incidents targeting US critical infrastructure, including campaigns attributed to Flax Typhoon. The sanctions follow the discovery of Chinese hackers accessing US Treasury Department systems. These sanctions block access to US assets and halt business with Americans. The ongoing cyberespionage campaign, Salt Typhoon, has allowed access to private communications of several Americans, prompting continued US efforts to strengthen cyber defenses.
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Trump administration takes aim at Biden and Obama cybersecurity rules
TechCrunch
·
1m ago
Medial
President Trump signed an executive order rolling back cybersecurity policies from the Obama and Biden administrations. The order removes requirements for digital identity documents and AI testing for cybersecurity while rejecting quantum-resistant encryption mandates. Trump's changes emphasize managing vulnerabilities over perceived censorship and dispenses with software security attestations for federal contractors. It also limits cybersecurity-related sanctions to foreign actors, arguing this prevents misuse against domestic political opponents and clarifies the scope concerning election activities.
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Citing Hamas, the US Wants to Treat Crypto Anonymity Services as Suspected Money Launderers
Wired
·
1y ago
Medial
On October 7, Hamas' attacks on Israel have led to the United States Department of the Treasury proposing new rules to crack down on cryptocurrency anonymity services. The rules would designate foreign cryptocurrency mixers as money laundering tools posing a national security threat, subjecting them to sanctions and regulations. This move could significantly impact cryptocurrency holders looking to cash out at US exchanges. While the rules were likely in development before the attacks, the Treasury links the push for policy change directly to the use of cryptocurrency by Hamas and other groups. The proposal is open for public comment and debate.
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Tornado Cash cofounder Roman Storm pleads not guilty to laundering over $1 billion
Economic Times
·
1y ago
Medial
A co-founder of Tornado Cash, a cryptocurrency platform under US sanctions, pleaded not guilty to federal charges of facilitating over $1 billion in money laundering, including for a cybercrime group linked to North Korea. Roman Storm, a naturalized US citizen, entered his plea and was arrested on August 23, released on a $2 million bond. The US Treasury had previously banned Tornado Cash, alleging that it was used by North Korea's Lazarus Group to launder hacking proceeds. Another co-founder, Roman Semenov, was indicted but remains at large.
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X down for users? Netizens complain of issues in sharing posts
Livemint
·
1y ago
Medial
Users of the microblogging platform X (formerly known as Twitter) experienced issues uploading and sharing posts. The Downdetector website recorded almost 350 reports of X outage on Tuesday. Indian users were particularly affected, with approximately 76% reporting issues with the website and 17% having problems with the mobile app. Earlier this month, X faced a similar technical issue, while in March, Facebook and its related apps also experienced a major outage. Some users reported complete downtime on their computers, while others experienced glitches on the mobile app.
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RBI Slaps INR 5.39 Crore Penalty on Paytm Payments Bank for KYC Non-Compliance and Cybersecurity Violations
Business Bytes
·
1y ago
Medial
The Reserve Bank of India (RBI) has imposed a penalty of INR 5.39 crore on Paytm Payments Bank for non-compliance with KYC norms and violations related to cybersecurity. This action highlights the RBI's commitment to maintaining the integrity and security of the Indian financial system. Paytm Payments Bank will need to undertake remediation efforts to address the issues raised by the RBI, ensuring compliance and enhancing cybersecurity measures. This penalty serves as a reminder to all financial institutions to uphold KYC norms and cybersecurity standards rigorously. The impact on customer trust will depend on the effectiveness of corrective actions taken.
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China's biggest lender's US arm hit by ransomware attack
Economic Times
·
1y ago
Medial
China's largest commercial lender, ICBC Financial Services, was hit by a ransomware attack that disrupted their systems and impacted trades in the US Treasury market. The attack was believed to be orchestrated by the Lockbit cybercrime gang, known for targeting large organizations. While ICBC stated that the impact was limited and they were recovering from the attack, this incident highlights the vulnerability of major organizations and raises concerns about cybersecurity controls and regulatory scrutiny in the market. US authorities have been working on curbing ransomware attacks through improved information-sharing.
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Social media platform X down for thousands of users
Economic Times
·
10m ago
Medial
Social media platform X experienced outages on Saturday, with over 7,743 reports of outages in the U.S. According to Downdetector.com, about 80% of the reports were related to issues with the X website. The cause of the outage remains unknown. This is not the first time X has faced significant outages since Elon Musk took over.
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