Enterprise, Internet Security

How do companies protect against a security breach?

It is no secret that any criminal will have his eyes on the biggest piece of cake he can acquire….

It is no secret that any criminal will have his eyes on the biggest piece of cake he can acquire. It is no different when it comes to cybercriminals. And for them, their favorite desserts are the big tech companies. That is why it is so important for every company to do what they can to protect against a security breach.

With huge amounts of sensitive/customer data around, exploiting just one company can give access to information worth millions of dollars!

No matter how protected business databases tend to be, hackers have very often been able to effectively slip through corporate security defense systems.

One recent example is the Petya Ransomware, a cyber attack predominantly targeted on Ukraine that caused havoc all across Europe and various other parts of the world with an estimated damage of more than $300 million to businesses – most of them being government organizations.

While large tech-companies invest millions of dollars on advanced defense systems, they are often defeated by stronger players in the wilds of the internet. It’s events like these that have pushed tech companies in stepping up their cybersecurity game like never before.

 

So, what do companies do to protect against a security breach?

 

Identity and access management (IAM) systems

Traditionally, identity management has been broadly defined as the set of policies, processes, and technologies used for managing access to information systems through the right individuals. It is the core network responsible for safeguarding digital data while effectively tracking system activities.

Even though the system itself is quite complex, the concept is simple – enhancing the privacy of data by limiting the various associated attributes to certain interactions.

 

Restricting use of unnecessary hardware and software

The higher the number of software or hardware connected to the network- the higher the number of possible exploits. Even though, software companies that sell their products to various IT firms make sure they are immune to cyber attacks, using a redundant program just isn’t worth taking the risk.

More often than not, giant tech firms make sure that different departments of their organization have devices connected to different servers, so that, even if one gets breached, the rest stay secured.

 

Background checks and constant monitoring

While IT firms carefully monitor for possible malware trying to attack their systems, there have been a good number of instances of intrusion from inside the network. No matter how high-caliber cybersecurity a company has, nothing can stop sensitive data from being stolen if it is operated by someone having a different purpose.

Lately, tech-firms have started resorting to serious background checks and screenings before giving access to important information to their employees.

 

IT training

Tech-firms and hackers, both, are well aware of each others’ goals! What that means is hackers know that their potential targets have taken the mandatory measures to try to keep them at bay from attacking their servers. Cyber culprits, however, have more than a dozen ways of sneaking into systems which they successfully achieve by capitalizing on human error.

Tech-firms have paid significant attention on developing a corporate culture focusing on security training programs aimed at teaching their employees the risks of negligent use of networks, phishing content, careless password management and improper disposal of information.

 

Encrypting Data

While having sensitive data stolen is a nightmare itself, things get a lot worse when this stolen data can be used for the wrong purposes. One way to keep data safer is by converting it into a code which can be decoded only by the entity with the decryption key. This doesn’t mean hackers might not have a solution of converting encoded information into a readable form. However, it certainly makes things harder for someone trying to obtain unauthorized access.

 

Strong Passwords and Password Managers

Using strong usernames and passwords should be a no-brainer. However, what is more important is properly storing them and that is where a password manager comes to play.

Password managers are software that saves usernames/passwords and keeps them encrypted. However, the risk here is the software itself as it is the master program containing all the passkeys. A security issue with it is enough to create a potential security risk.

 

Having information stolen is the last thing any organization would want to happen, especially if it is that of their clients. Not only it is a matter of reputation, a company might face serious legal issues for not being able to protect their customer’s information.

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Introducing Bitdeer Group, the World’s Premier All-Inclusive Digital Asset Mining Service Provider

SINGAPORE, Sep 8, 2021 – (ACN Newswire) – Bitdeer Group was established by renowned crypto pioneer Jihan Wu, the co-founder of Bitmain and Matrixport, which provides mining-related services to individuals and enterprise clients worldwide. With its headquarters located in Singapore, Bitdeer Group has branches in North America, Europe, and other regions. Bitdeer Group is committed…

SINGAPORE, Sep 8, 2021 – (ACN Newswire) – Bitdeer Group was established by renowned crypto pioneer Jihan Wu, the co-founder of Bitmain and Matrixport, which provides mining-related services to individuals and enterprise clients worldwide. With its headquarters located in Singapore, Bitdeer Group has branches in North America, Europe, and other regions. Bitdeer Group is committed to becoming the world’s most reliable digital asset mining service provider. It offers three lines of business – Bitdeer, Mining Datacenter, and smart mining service. Bitdeer Group is developing market-oriented strategies and integrating resources for high-quality services and major moves in its global operations.Together, these verticals reflect Bitdeer Group’s professional development as well as its drive to continually cultivate authentic and trustworthy services for participants of the blockchain space. “Over the long-term, the blockchain industry is bullish and is undeniably the biggest opportunity for both investors as well as developers. The innovations in this industry may even surpass those that came with the advent of the internet,” said Jihan Wu, chairman and founder of Bitdeer Group.Mining and acquiring digital currencies are complex processes, but there are ways to obtain newly minted cryptocurrency without contending with technical intricacies. Whether you are a crypto-curious newcomer or a long-time believer, Bitdeer Group’s mining machine sharing, Mining Datacenters, and mining management platform weave together a seamless, easy acquisition strategy for any user around the world. “Bitdeer Group has made arrangements to adapt to developments in the mining sector and changes in the market,” said Matt Kong, CEO of Bitdeer Group.One-Click Mining with Bitdeer’s Top-Notch ServiceAs the world’s first platform to deliver real hashrate capacity at the base rate of 1 TB, Bitdeer features straightforward traceability for hashrates, direct payouts from the mining pool, and customizable service plans, with a convenience that makes it possible for anyone to take advantage of mining. Bitdeer offers support for more than 10 cryptocurrencies – including Bitcoin, Ethereum, Zcash, Litecoin, and Doge – providing a variety of choices that fit short-term and long-term wealth creation objectives.Moreover, Bitdeer’s service verticals include Cloud Hashrate, Cloud Hosting, and Hashrate Market for retail customers, as well as the Institutional Customer Service. Bitdeer’s cloud service is convenient for its kind for anyone anywhere in the world.Right now, Bitdeer has hundreds of thousands of mining machines running in Europe and North America, with monthly traffic of over 3 million visitors as an endorsement of long-time clients.Energy-Efficient Mining Datacenters with a Global FootprintMining Datacenter was the first to develop standardized, professional mining facilities and provide cryptocurrency mining services to global partners, drawing from eight years of experience in the field. This includes site selection, facility design, construction, maintenance, and general one-stop technical support. Its team originates from Bitmain’s former mining department.So far, more than 30 Mining Datacenters have been constructed for proprietary and client usage, as well as partners located around the world. Bitdeer’s fundamental infrastructure is supported by sophisticated Mining Datacenters located in various parts of the United States and Norway. These facilities can operate at an optimum level under various climate conditions and link up various forms of power supply.Altogether, Mining Datacenters wield the world’s sizable aggregate mining capacity. Its facility in the USA is one of the largest operations of its kind in North America. Alongside a focus on being fully compliant with regulatory demands, Mining Datacenters are forging a path to 100% renewable energy.Boosted Efficiency with Smart Mining ServiceAs an integrated smart mining service of Bitdeer Group, it offers a unified platform for infrastructure oversight and control, giving miners the means to solve problems that they may encounter during their regular operations and achieve the highest efficiency. Tracing its roots to the Antsentry team of Bitmain, it helps miners solve problems they may face during mining operations to achieve the best efficiency.This proprietary infrastructure software suite is utilized to regulate the expansive operations involving hardware assets spanning continents. The platform assists miners to prevent and solve problems that may arise during day-to-day operations. It can provide up to a 100% boost in efficiency while eliminating the need for human intervention by 50% for large-scale mining farms.The platform includes automated monitoring functionalities, batch management features, security capabilities, data-driven analysis, as well as energy and power meter management processes. The platform is calibrated to mesh with all mainstream mining rig models and pools for maximal impact in any context.Bitdeer Group Is Committed to Becoming the World’s Most Reliable Digital Asset Mining Service ProviderWith more than 300 staff spread across facilities around the world, Bitdeer Group is distributed at a global scale, ensuring risk resistance and versatility that enables stable mining 24 hours a day, seven days a week.That makes it even more crucial to merge diverse cloud services with its infrastructural backbone and intelligent management and maintenance platform for cutting-edge mining services. With a philosophy rooted in the origins of blockchain technology and cryptocurrency, Bitdeer Group is prepared to service customers who are in pursuit of stable, dependable crypto financial growth.About Bitdeer GroupBitdeer Group is the world’s leading digital asset mining service provider. It was founded by Jihan Wu, a renowned pioneer in the crypto industry, along with Sequoia Capital, IDG, and other well-known investment institutions in the blockchain field. Founded in 2020 with headquarters in Singapore, Bitdeer Group has branches in the United States, Europe, and other countries and regions. Under the group, there are currently three business lines – Bitdeer, Mining Datacenter, and smart mining service. Together, they provide a full range of mining services, including mining machine sharing, mining infrastructure construction, and mining operation management. www.bitdeergroup.com.For more information, please contact:Website: https://bitdeergroup.com/ Business Contact: [email protected] Contact: [email protected] Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com
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Strong Mainland China demand boosts Swiss watch industry

HONG KONG, Sep 7, 2021 – (ACN Newswire) – Jointly organised by the Hong Kong Trade Development Council (HKTDC), the Hong Kong Watch Manufacturers Association and the Federation of Hong Kong Watch Trades and Industries, the special edition of the 40th Hong Kong Watch & Clock Fair and the ninth Salon de TE begin tomorrow…

HONG KONG, Sep 7, 2021 – (ACN Newswire) – Jointly organised by the Hong Kong Trade Development Council (HKTDC), the Hong Kong Watch Manufacturers Association and the Federation of Hong Kong Watch Trades and Industries, the special edition of the 40th Hong Kong Watch & Clock Fair and the ninth Salon de TE begin tomorrow at the Hong Kong Convention and Exhibition Centre. To help industry participants grasp the latest market information and trends and formulate strategies for post-pandemic growth, the three organisations hosted the Hong Kong International Watch Forum on 30 August. The forum invited watch association representatives from Mainland China, France, Germany, Hong Kong, Japan and Switzerland to share on the watch industry’s current trade performance in the region and offer perspectives that can help the global watchmaking industry continue to move forward.Daniel Tsai, Chairman of the Federation of Hong Kong Watch Trades & Industries Ltd (centre), with Student Group merit award winners Chan Yin-kei (R), Lau Ka-ki and Ho Wing-kiu; champion Yip Tsz-yan; and first runner-up Ho See-long (L)”Insight”, the creation of Student Group champion Yip Tsz-yanThe “Global Luxury Watch Investment and Market Outlook in Mainland China” forum on 10 September will feature insights from John Ng, Horologer of Montres S.A.Swiss representative – US demand has also reboundedEven though the pandemic has battered the global economy and posed significant challenges for the watch and clock industry, the speakers’ view was that markets are steadily recovering. They noted that imports, exports, production volumes and profits have all rebounded from the depths of 2020, although still remain shy of 2019 levels.Thierry Dubois, the representative from Switzerland’s Federation of the Swiss Watch Industry FH, explained that Swiss watch exports during the first six months of 2021 have improved year-on-year. In 2020, the country’s total exports dropped 21.7% compared to the previous year. However, the total export value remained on a par with that of 2019, dipping only 0.5% to 10.6 billion Swiss francs. This was thanks to the Mainland China market, which has seen a surge in demand for luxury Swiss watches since last summer. Demand from the US also began picking up from March this year, which was sooner than the Swiss watch industry anticipated.Mr Dubois pointed out that Asia now represents the largest market overall for Swiss watch exports, with Mainland China being the leading market, followed by the US, Hong Kong, Japan and Singapore. He foresees that by 2025, the mainland’s consumption will pull further ahead and account for 46-48% of all luxury watch purchases.He added that the pandemic has created new consumer habits, with prolonged lockdowns giving consumers more time to reflect on their watch purchases and make new discoveries. “We have observed that online sales quickly replaced physical sales, as shops had to close during the lockdowns. In 2019, online sales represented 10-15% of total sales of luxury products. We expect this will rise to 30% by 2025. At the same time, the importance of social media for communication, interaction and sales has continued to grow. Livestreaming has exploded, and the trend is particularly visible in Asia. With the increase in e-commerce, the demand for efficient logistics and delivery has also climbed, because today’s online shoppers expect swift product deliveries once they have placed an order,” said Mr Dubois. He remarked that there has also been a notable increase in the demand for “pre-owned” watches – or watches that have been possessed by someone else – which is expected to rise by 15-20% within four years.German representative – physical stores remain attractiveGuido Grohmann, the representative from Germany’s Federal Associations of Jewellery, Watches, Silverware and Supplying Industry e.V. (BVSU), said the country’s exports of watches, clocks and parts saw a significant year-on-year decline of 14.1% in 2020, including falls of 7.5% in the European Union (EU) and 16.4% in Asia. The situation was largely echoed in imports. In 2020, German imports of watches, clocks and parts fell 6.2% compared to the previous year, with the biggest decline registered in Asia, at 8.7%. Despite this, imports from the EU rose 28.5%, with logistics operating more smoothly among EU countries. In 2021, both exports and imports continued to strengthen during the first five months with imports faring even better than the same period in 2019.While e-commerce continues to gain popularity, Mr Grohmann said that offline stores are still maintaining their attractiveness. He remarked that even though lower-priced products were sold online during the pandemic, consumers still preferred going to stores to buy high-end products as it allows them to try out the luxury goods. As for logistics, he noted, “The COVID crisis has reflected that we still have huge problems within the supply chain, especially in shipping parts. Industries are looking into reinventing local suppliers in Europe to attain a more secure supply chain. It would be much better if the world’s governments [could] focus on how to re-enact the fast and solid supply chain that we used to have. From the watch industry’s perspective, we have to discuss this on a global level. It is difficult, but it can be solved.”The Hong Kong International Watch Forum was held as a webinar on 6 September. A replay will soon be available on the Watch & Clock Fair website.Hong Kong Watch & Clock Competition identifies local design talentTo raise the design standards of the Hong Kong watch industry, nurture local designers and inject new impetus into the industry, the HKTDC collaborated with the Hong Kong Watch Manufacturers Association Ltd and the Federation of Hong Kong Watch Trades & Industries Ltd to organise the 38th Hong Kong Watch & Clock Competition. This year’s competition was once again divided into the Open Group and the Student Group, adopting the themes of “Minimalism” and “Live Fully” respectively. About 90 high-quality entries were received, from which a panel of 10 judges from various sectors selected the winning entries.The results of the competition have been announced and the champion in the Open Group was Tam Kwok-tung for his design titled “SPACE_BAR”. Housed in a transparent container, the design beautifully encapsulates the simplicity of the watch’s movements. The first runner-up prize was claimed by the Ballerina Watch Company Limited and its design “Singing Bowl”. The design forgoes a traditional watch crown to accentuate the unified and symmetrical watch case design. Second runner-up was Wong Ting-bong for his design “D012”. The unique open design of the minute dial is topped with a linear second hand, which perfectly represents the concept of points, lines and surfaces as the hands move.In the Student Group, the Hong Kong Design Institute’s Yip Tsz-yan was crowned champion for her design “Insight”. Her watch’s bezel and glass are made with a diamond-cut design, and the case-back contains fancy glass that refracts light and reflects colours. Ho See-long from the Technological and Higher Education Institute of Hong Kong claimed first runner-up with her design titled “Serendipity”. The design reflects the idea that the happiness and fortune people seek may already be surrounding them and that every trivial matter in daily life can be a miracle. The second runner-up prize was taken by another Hong Kong Design Institute student, Pui Hong-yiu, whose design “Expedition” drew inspiration from the film Around the World in 80 Days. The watch’s oversized design symbolises the confidence and motivation for taking an expedition, while the mini globes on the face can display the wearer’s location.The champions of the Open Group and Student Group will be sponsored to attend the INHORGENTA MUNICH 2022 trade fair in Germany. All the winning and finalist entries will also be displayed during the Watch & Clock Fair to showcase Hong Kong’s design prowess to global industry participants and the general public.Renowned watchmaker shares tips on luxury watch investment in Mainland ChinaIn addition to the above events, the annual Asian Watch Conference will be held on 9 September during the Watch & Clock Fair. With the theme, “Redesigning the Future of Luxury Watches”, experts will look at the future for the luxury watch sector from the perspective of product design trends and marketing strategies, helping watchmakers and manufacturers to be more future-ready. Trade professionals interested in attending the conference can register at the event website. https://tinyurl.com/crnrkc2rMeanwhile, a sharing session titled “Global Luxury Watch Investment and Market Outlook in Mainland China” will be held on the afternoon of 10 September. John Ng, Horologer of Montres S.A., who is known as the only Asian disciple of master watchmaker Philippe Dufour, will be joined by Ho Sai-chu, Chairman of Chih Lo Lou Art Promotion (Non-Profit Making) Ltd, as well as three auction house representatives: Cissy Ngan, Associate Vice President and Specialist at Christie’s, Mary Lee, Consultant at Sotheby’s and Jill Chen, Head of Watches, Hong Kong at Phillips. They will discuss global luxury watch investment and share insights on watch collecting, the prospects for watch investment in Mainland China, the role of young people in the watch industry, and the industry’s outlook in the Guangdong-Hong Kong-Macao Greater Bay Area. Interested trade professionals can register here. https://tinyurl.com/crnrkc2r The 40th HKTDC Hong Kong Watch & Clock Fair and the ninth Salon de TE both begin tomorrow. The physical fairs will run from 8 to 12 September at the HKCEC, while the online version will run until 19 September. The hybrid format will help global watch traders explore more business opportunities. The five-day fairs at the HKCEC will open to industry buyers and, for the first time, also to the general public, offering local watch lovers the opportunity to shop for precious timepieces.Fair websites- Hong Kong Watch & Clock Fair: https://hkwatchfair.hktdc.com- Salon de TE: https://hkwatchfair.hktdc.com/te- Photo download: https://bit.ly/3zH79e9About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedInMedia enquiries:HKTDC’s Communications & Public Affairs DepartmentJanet Chan, Tel: +852 2584 4369, Email: [email protected] Tang, Tel: +852 2584 4544, Email: [email protected] Copyright 2021 ACN Newswire. All rights reserved. www.acnnewswire.com
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Internet Security

US probe into Binance reportedly expands to investigate insider trading

Binance is apparently facing more pressure from regulators over possible abuses at its cryptocurrency exchange. Bloombergsources said US officials have expanded their probe of Binance to include possible insider trading and market manipulation. The company hasn’t been accused of wrongdoing, but Commodity Futures Trading Commission investigators have reportedly inquired with potential witnesses about issues like…

Binance is apparently facing more pressure from regulators over possible abuses at its cryptocurrency exchange. Bloombergsources said US officials have expanded their probe of Binance to include possible insider trading and market manipulation. The company hasn’t been accused of wrongdoing, but Commodity Futures Trading Commission investigators have reportedly inquired with potential witnesses about issues like the location of Binance servers (and thus whether the US can pursue any cases).The commission had previously launched an investigation into the sales of derivatives tied to cryptocurrencies. It’s reportedly looking for internal Binance data that might show sales of those derivatives to American customers, breaking regulations that forbid those sales without registrations. The Internal Revenue Service and Justice Department are also probing possible money laundering on the exchange.There are no guarantees of action. The CFTC and Justice Department have supposedly been investigating Binance for months, and any decisions might take a while longer.Not surprisingly, Binance said it was above-board. A spokesperson told Bloomberg the exchange had a “zero-tolerance” approach to insider trades as well as ethical codes and security guidelines to prevent those actions. The company added that it fires offenders at a bare minimum. The CFTC has declined to comment.The heightened scrutiny of Binance, if accurate, would come as part of a larger US crackdown on cryptocurrencies. Officials are concerned the lack of consumer protections (including regulation) might hurt customers who sign up for services expecting the same safeguards they have with conventional money. In this case, the focus is on accountability — insider trading could wreck valuable investments and erode trust in Binance and other crypto exchanges.
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Internet Security

How to Use Arbitrum Bridge to Transfer Tokens From the Ethereum Network to Arbitrum

Arbitrum was built by Off-chain Labs, which is considered a layer two solution for Ethereum dApps. Arbitrum bridge was designed to improve the limitations of the Ethereum network. It offers high-throughput and low-cost fees transactions along with maintaining high-security standards. The platform is backed up by a world-class team of researchers, engineers, and Ethereum enthusiasts.…

Arbitrum was built by Off-chain Labs, which is considered a layer two solution for Ethereum dApps. Arbitrum bridge was designed to improve the limitations of the Ethereum network. It offers high-throughput and low-cost fees transactions along with maintaining high-security standards. The platform is backed up by a world-class team of researchers, engineers, and Ethereum enthusiasts. […]
The post How to Use Arbitrum Bridge to Transfer Tokens From the Ethereum Network to Arbitrum appeared first on Altcoin Buzz.
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