‘Greatest Transfer of Wealth in History’ a Myth? ProPublica Says Yes

In a report published on August 1, 2012, independent, non-profit newsroom ProPublica questions the actual size of cybercrime-generated financial losses which had been qualified as the “greatest transfer of wealth in the history” by Gen. Keith Alexander, director of the National Security Agency less than one month before.

LulzSec Member Behind 2011 Sony Pictures Hack under Arrest, Faces 15 Years in Prison

Raynaldo Rivera, a 20-year-old from Tempe, Arizona, surrendered to the FBI on Tuesday and is now awaiting trial on account of a series of SQL injection-based attacks against Sony Pictures perpetrated in May-June last year, as reported by itworld.com.

Five Zero-Day HP Software Bugs Disclosed Before Patching Puts Companies at Risk

Five zero-day security holes in five enterprise software applications from Hewlett-Packard have been publicly disclosed by the Zero Day Initiative (ZDI). The decision was taken after more than six months in which the application vendor, although duly notified, was unable to fix the issues.

Dropbox Adds Two-Step Authentication after July Hacks

Online storage and sharing service Dropbox, attacked by hackers in July, now offers users the option of requiring two proofs of identity, such as a password and a temporary code sent to users’ phones, according to the company.

Marketers of Three Get-Rich-Quick Infomercial Scams to Pay $478 Million Fine

Marketers of three get-rich-quick schemes are made to pay $478 million after the Federal Trade Commission won a court judgment against the marketers, alleged to have deceived almost one million customers with fake fast-gain schemes. The guilty parties have been banned from infomercial and telemarketing businesses.

Siemens Gear Plagued by Remote Exploit Vulnerability, Warns DHS

Siemens technology-based infrastructures that use RuggedCom’s hardware are prone to hacker attacks as security researcher Justin Clarke revealed an encryption flaw that could be exploited by attackers.

Timeline gets Facebook into Legal Trouble in China; Cubic Network Claims Property of the Concept

Cubic Network, a Chinese social platform, is taking Facebook to court over the latter’s alleged theft of the Timeline concept, according to The Register.

HOSTS File Hijacking Becomes Impossible in Windows 8

The upcoming operating system from Redmond-based Microsoft takes system protection one step further with the introduction of a technology to detect illegal changes to the HOSTS file.

AMD Blog in “Maintenance” after Hacking Claims

Advanced Micro Devices has taken its blog offline after hackers claimed they broken it and dumped the microprocessor developer’s user database.

Google Offers $2 Million in Bounties for Chrome Bugs

Google committed $2 million in prizes for the second Pwnium competition to be held Oct. 10 in Kuala Lumpur offering those who discover Chrome exploits significant cash prizes while helping the company improve Chrome’s reliability.

Citadel Trojan goes after VPN Login Credentials in International Airport

With more and more e-threats targeting the network infrastructure to mine data passed to and from clients, businesses are moving to virtual private networks as their next line of defense.

Amazon Changes Security Policy to Avoid Identity Theft

Amazon customers can no longer change account details such as e-mail address or credit card number over the phone.

BitTorrent Tracker Demonoid Raided and Shut Down

Demonoid, one of the largest torrent trackers, was raided by Ukraine authorities in an effort to shut down the data center hosting the website. This event is part of the operation in which several European Internet Service Providers were asked to block access to torrent trackers.

Privacy Commission Calls for Destruction of Google’s Street View Data

Wi-Fi data siphoned by Google’s Street View car is ordered to be destroyed at the request of the Australian Privacy Commission. An official letter to Iarla Flynn, Google’s Head of Public Policy and Government Affairs, demands that all Australian data collected during the Street View project should be erased immediately.

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