Potential global cyber attack could cause $85 billion-$193 billion worth of damage: report

A co-ordinated global cyber attack, spread through malicious email, could cause economic damages anywhere between $85 billion (₦30,794,650,000,000) and $193 billion (₦69,921,970,000,000), a hypothetical scenario developed as a stress test for risk management showed.

Insurance claims after such an attack would range from business interruption and cyber extortion to incident response costs, the report jointly produced by insurance market Lloyd’s of London and Aon said on Tuesday.

Total claims paid by the insurance sector in this scenario is estimated to be between $10 billion and $27 billion, based on policy limits ranging from $500,000 to $200 million.

The stark difference between insured and economic loss estimates highlights the extent of underinsurance, in case of such an attack, the stress test showed. An attack could affect several sectors globally, with the largest losses in retail, healthcare, manufacturing and banking fields.

Regional economies that are more service dominated, especially the United States and Europe, would suffer more and are vulnerable to higher direct losses, the report said.

Cyber attacks have been in focus after a virus spread from https://www.reuters.com/article/us-cyber-attack/new-computer-virus-spreads-from-ukraine-to-disrupt-world-business-idUSKBN19I1TD Ukraine to wreak havoc around the globe in 2017, crippling thousands of computers, disrupting ports from Mumbai to Los Angeles and even halting production at a chocolate factory in Australia.

Governments are increasingly warning against the risks private businesses face from such attacks, both those carried out by foreign governments and financially motivated criminals.

For example, Britain’s National Cyber Security Centre announced on Friday it was investigating a large-scale Domain Name System (DNS) hijacking campaign that hit governments and commercial organizations across the world.

In another recent incident, French engineering consultancy Altran Technologies was the target of a cyber attack that hit its operations in some European countries.

On a larger scale, personal data and documents from hundreds of German politicians and public figures, including Chancellor Angela Merkel, were published online in what appears to be one of Germany’s most far-reaching data breaches.

The report was also co-produced by MSIG, SCOR TransRe and Cyber Risk Management (CyRiM).

Reuters

WhatsApp Is Merging With Facebook Messenger

WhatsApp and Instagram are to be integrated with Facebook Messenger, it has been revealed. Facebook CEO Mark Zuckerberg apparently wants to combine the services under a single underlying messaging platform or protocol.

The idea is to allow users to communicate across the three services more easily, with the project set to complete by the end of this year or early next, according to The New York Times.

According to reports, the new unified backend will support the end-to-end encryption needed to stop messages being viewed by third parties. In theory, this means all three platforms should be more secure, but in reality, there are doubts.

For this reason, the news has not been well received by many users. People are already leaving Facebook in droves and with good reason: The social networking giant has been hacked and suffered data leaks several times over the last year. As part of this, the messaging app was possibly affected seeing users’ private conversations exposed to hackers.

This, of course, is in addition to the ongoing Cambridge Analytica scandal which saw Facebook abusing its user data with results that could have influenced elections.

The exact logistics of what is going to happen once the three services are combined are not yet clear. But you can bet your life that data will be at the heart of this integration. There are even suggestions that if pressured, Facebook could build a handy back door allowing law enforcement to spy on WhatApp users when needed.

Forbes

China creates app to tell you if you are near someone in debt and encourages you to report them

The Chinese Government has developed a mobile app that tells users if they are near someone who is in debt. The app, called a “map of deadbeat debtors,” flashes when the user is within 500 meters of a debtor and displays that person’s exact location.

News of the app has caused quite a bit of controversy after it was originally reported by the state-run China Daily. It is an extension to China’s existing “social credit” system which scores people based on how they act in public. It’s no secret that China keeps a very close watch on its citizens, but this new public shaming approach takes it one step further.

The app is available through the WeChat platform which has become immensely popular in China. The government stated that “Deadbeat debtors in North China’s Hebei province will find it more difficult to abscond as the Higher People’s Court of Hebei on Monday introduced” the app.

Once a user is alerted that they are close to a debtor, the user can then view their personal information. This will reveal their name, national ID number, and why they were added to the debtor list. The debtor can then be publicly shamed or reported to the authorities if it is deemed that they are capable of repaying their debts.

The full social credit system will be operational in 2020 when plans indicate will be used to bar people with low scores from traveling, getting loans, and getting jobs. A person’s score can be lowered if they do things like playing an excessive amount of video games or posting fake news. On the other hand, a social credit score can be raised by things like volunteering or donating blood.

TechSpot

Google Fined $57 Million for Burying Privacy Terms Where Users Won’t Find Them

Google has been fined $56.8 million (₦20,391,200,000.00) by privacy regulators in France, marking the country’s first use of the tough new privacy rules enacted in Europe last year. Specifically, the company is accused of violating provisions of the General Data Protection Regulation (GDPR) by using, without proper consent, the private data of users to craft personalized ads; and by burying key privacy disclosures pages deep, amid oceans of text.

In a statement Monday, France’s privacy watchdog, CNIL, said that Google had been fined for needlessly obscuring information concerning the processing of its users’ data, which Europe’s privacy rules demand be made more easily accessible. Essential information about how user data is processed, stored, and used, it said, was “excessively disseminated across several documents.” It required, in some cases, up to five or six steps to unearth key disclosures, including details of how Google amasses personal information to help it pinpoint a user’s location.

Some of the information, it said, “is not always clear nor comprehensive.”

While Google says it obtains the consent of consumers prior to using their data to personalize ads, the French commission found Google’s process for informing users about what precisely they’re consenting to to be wholly inadequate. Users are “not sufficiently informed,” it said, finding Google’s language “vague” and its violations to be “continuous.”

In regard to the violations, CNIL wrote:

Users are not able to fully understand the extent of the processing operations carried out by GOOGLE. But the processing operations are particularly massive and intrusive because of the number of services offered (about twenty), the amount and the nature of the data processed and combined. The restricted committee observes in particular that the purposes of processing are described in a too generic and vague manner, and so are the categories of data processed for these various purposes. Similarly, the information communicated is not clear enough so that the user can understand that the legal basis of processing operations for the ads personalization is the consent, and not the legitimate interest of the company. Finally, the restricted committee notices that the information about the retention period is not provided for some data.

Google told reporters in response that it was “studying the decision” to inform its next steps. “People expect high standards of transparency and control from us,” it said, adding that it remained “deeply committed to meeting those expectations and the consent requirements of the GDPR.”

TV station France 24 reported that CNIL’s judgement followed complaints filed by two advocacy groups in May—one by La Quadrature du Net, the French digital rights group, and another by Austrian privacy activist Max Schrems.

“We have found that large corporations such as Google simply ‘interpret the law differently’ and have often only superficially adapted their products,” Schrems reportedly told the station. “It is important that the authorities make it clear that simply claiming to be compliant is not enough.”

gizmodo

WhatsApp restricts message-sharing to fight fake news

WhatsApp is limiting all its members to forwarding any single message up to five times in an effort to tackle the spread of false information on the platform.

The Facebook-owned business had already introduced the policy in India six months ago.

The move followed a number of mob lynchings that were blamed on fake reports spread via the service.

Until now, users elsewhere could forward messages up to 20 times.

The update to the app’s rules was announced at an event in Jakarta, Indonesia. The country is holding its general election in April.

The firm told the BBC it had made its decision after “carefully” evaluating the results of its half-year-long test in the country.

“The forward limit significantly reduced forwarded messages around the world,” a spokeswoman added.

“[This] will help keep WhatsApp focused on private messaging with close contacts. We’ll continue to listen to user feedback about their experience, and over time, look for new ways of addressing viral content.”

Scrambled messages

Up to 256 users can be enrolled in a WhatsApp group.

So, theoretically, a single user can now only forward a message up to 1,280 other individuals rather than the 5,120 people figure that had been possible previously.

There is nothing, however, to stop those on the receiving end each forwarding the message up to five times themselves.

The restriction comes at a time WhatsApp and Facebook’s other services are under scrutiny for their role in the spread of propaganda and other untruths online.

Last week, Facebook announced it had removed 500 pages and accounts allegedly involved in peddling fake news in Central Europe, Ukraine and other Eastern European nations.

It also recently announced that it had employed a UK-fact-checking service to flag content on its main platform .

However, the use of end-to-end encryption by WhatsApp means its messages can only be read by their senders and recipients, limiting the firm’s ability to spot false reports.

But at the end of last year, the Indian press reported that the governmentwas considering a change to the law that would force Facebook to police WhatsApp for “unlawful” content. This would challenge its use of the encryption technology.

BBC

Zimbabwe blocks Facebook, WhatsApp and Twitter amid crackdown

Zimbabwe has blocked Facebook, Twitter and WhatsApp messaging app amid a crackdown on days of violent protests, BBC reported on Friday.

A coalition of local human rights groups says at least 12 people have been killed and many more beaten and tortured by security forces this week.

The Zimbabwe Human Rights NGO Forum accused the authorities of cutting off the internet “to mask the massive human rights violations”.

The protests were sparked on Monday by a sharp rise in the price of fuel.

The government has blamed the opposition and political rights groups for the protests, which has seen riot police clashing with protesters in the capital, Harare, and the southern city of Bulawayo after they lit fires and blocked roads using rocks.

There has been looting and some businesses and schools in the two cities have been forced to close. Soldiers are guarding petrol stations, where there are still long queues of motorists looking for petrol.

The UN has called on the government to halt the “excessive use of force” by security forces including firing live ammunition, and allegations of night-time door-to-door searches and beatings.

“Doctors’ associations say more than 60 people were treated in hospital for gunshot wounds, this is not way to react to the expression of economic grievances by the population,” Reuters news agency quotes UN human rights spokesperson Ravina Shamdasani as saying.

The Zimbabwe Human Rights NGO Forum said it had recorded at least 844 human rights violations in all.

On Thursday, prominent activist Evan Mawarire, who called for a stay-at-home protest on social media, was charged with subverting the government, a crime which carries up to 20 years in jail. He gained fame as a figurehead of the #ThisFlag protests against the former president, Robert Mugabe, in 2016.

President Emmerson Mnangagwa said the rise was aimed at tackling shortages caused by an increase in fuel use and “rampant” illegal trading.

But many Zimbabweans – worn down by years of economic hardship – suddenly found they could not even afford the bus fare to work.

Roads were barricaded by protesters earlier this week

They feel that the president, who is on a tour of Russia and Asian countries this week, is failing to live up to his promises following his election last year in disputed polls.

He is struggling to revive the economy, which is experiencing high inflation while wages have stagnated.

The southern African nation faces a severe shortage of US dollar cash and confidence in its bond notes, currency that can only be traded in Zimbabwe, is low.

The bond notes, or “bollars”, are supposed to be worth the same as the dollar but have lost value because of a lack of foreign currency backing the note, and are now worth much less than a dollar.

The fuel hike means petrol prices rose from $1.24 (₦445.16) a litre to $3.31(₦1,188.29) , with diesel up from $1.36(₦488.24) a litre to $3.11(₦1,116.49).

The new prices mean Zimbabwe now has the most expensive fuel in the world, according to GlobalPetrolPrices.com.