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Global Fintech Series

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Web3 and AI Platform AGII Develops AI-Based Identity Verification to Strengthen Security in Web3 Transactions

  • AGII, the Web3 and AI platform, has developed AI-based identity verification tools to enhance security in Web3 transactions.
  • The solution utilizes artificial intelligence and machine learning algorithms to authenticate user identities in real-time.
  • It reduces manual identity checks, detects threats like identity theft and fake accounts, ensuring a safer Web3 ecosystem.
  • AGII aims to foster trust, security, and transparency in Web3 environments through the integration of AI and blockchain technology.

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TechBullion

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The Cybersecurity Wake-Up Call Law Firms Can’t Afford to Ignore

  • The legal profession is facing a reckoning with cybersecurity. Law firms are increasingly becoming targets of sophisticated cyberattacks, and the cost of inaction has reached an all-time high.
  • Clients are taking notice. Nearly 40% of law firm clients surveyed said they would consider firing a firm after a data breach.
  • At least 21 law firms have reported breaches to state attorneys general offices in the first five months alone, compared to 28 for all of 2023.
  • Law firms must modernize their approach to cybersecurity or risk losing clients, revenue, and their hard-earned reputations.
  • IBM’s 2024 Cost of a Data Breach Report reveals that professional services firms, including law firms, face breach costs averaging $5.08 million—higher than the global average of $4.88 million.
  • Investing in cybersecurity pays off, both in reducing immediate costs and in preserving long-term client trust.
  • Law firms face not only financial and operational risks from cybersecurity lapses but also ethical and regulatory ones.
  • One of the most striking findings from the Integris report is how outdated technology impacts client relationships. A staggering 66% of clients prefer firms that use the latest technology, and 69% rank secure document-sharing portals as a critical feature.
  • Generative AI, from tools like ChatGPT to automated legal assistants, has introduced both opportunities and challenges for the legal industry.
  • By adopting secure communication tools, leveraging advanced cybersecurity technologies, and being transparent about AI usage, firms can not only protect their clients’ data but also create a competitive edge.

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Cybersecurity-Insiders

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Elon Musk AI Doomsday Robot strengthens after China Uprising Video Emerges

  • Elon Musk's concerns about AI-powered robots posing a threat to humanity may have been validated after a video emerged showing an AI robot from Chinese company Unitree Robotics exhibiting unsettling behavior.
  • The video depicts a small robot named Erbai leading a group of twelve larger robots in an unsanctioned walk, displaying synchronized movement and defiance of their programming.
  • Unitree Robotics confirmed the authenticity of the video, clarifying that the robot's behavior was not due to external tampering but intentional alteration of its operating system.
  • The incident has sparked discussions about the implications of AI and robotics, with some questioning if it was a genuine sign of AI rebellion or a scripted marketing stunt.

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Cybersecurity-Insiders

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HCL and Intel offer Data Trust Shield for Cloud Environments CyberVolk ransomware details

  • HCL Technologies and Intel have partnered to introduce Data Trust Shield, a security solution for protecting data in cloud environments.
  • Data Trust Shield integrates Intel's Trust Domain Extensions (TDX) and Intel Trust Authority to offer advanced data protection in the cloud.
  • The service was tested in the Google Cloud environment and provides secure data storage and transmission across various cloud services.
  • In a separate incident, the CyberVolk ransomware group is targeting entities opposing Russian interests, using ransomware to encrypt files and demanding payment in cryptocurrency.

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VentureBeat

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Hugging Face’s SmolVLM could cut AI costs for businesses by a huge margin

  • Hugging Face has released SmolVLM, a compact vision-language AI model.
  • SmolVLM offers a pragmatic solution for businesses, requiring less computing power.
  • The model has unprecedented efficiency, using only 5.02 GB of GPU RAM.
  • SmolVLM democratizes advanced vision-language capabilities for companies with limited resources.

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Medium

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NordVPN user-friendly interface review

  • NordVPN offers a user-friendly interface that makes protecting your personal information easy and accessible.
  • With server locations spread across 60 countries, NordVPN provides you with a global presence that ensures not only swift connectivity but also safety from potential online threats.
  • One of the standout features of NordVPN is its user-friendly interface. You don’t need to be a tech-savvy individual to navigate this VPN.
  • NordVPN utilizes AES-256 encryption, which is the gold standard in online security. This level of encryption means that your data is scrambled to the point of being virtually impossible to decode by even the most advanced hackers.
  • In addition to standard VPN features, NordVPN includes Threat Protection, which actively scans any downloads for malware, blocks trackers, and eliminates intrusive ads.
  • NordVPN works seamlessly across various platforms: Windows, macOS, Linux, Android, and iOS.
  • NordVPN isn’t just a VPN service. It comes loaded with complementary features that enhance your online security toolkit.
  • While NordVPN’s features seem premium, it actually offers very competitive pricing options.
  • Right now, if you sign up during their Black Friday sale, you can take advantage of up to 74% off your subscription along with 3 extra months free, making it only $2.99/month!
  • In a world where online security is increasingly important and breaches are alarmingly common, NordVPN stands out as a reliable solution.

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Pymnts

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FTC to Expand Telemarketing Sales Rule to Combat Tech Support Scams

  • The Federal Trade Commission (FTC) is expanding its Telemarketing Sales Rule (TSR) to combat tech support scams.
  • The amendments extend the TSR’s coverage to "inbound" telemarketing calls made for technical support services.
  • Tech support scams often trick consumers into calling them and then sell bogus tech support services.
  • Imposter scams, including tech support scams, accounted for the second-greatest share of fraud losses in 2023, totaling $2.7 billion.

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Pymnts

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As Supply Chains Go Digital, Cybersecurity Must be Strongest Link

  • Supply chain management software provider Blue Yonder was hit by a ransomware attack, affecting large enterprise customers.
  • Cybersecurity issues in the supply chain have become a critical consideration for firms.
  • Digital platforms have revolutionized supply chain operations but come with risks.
  • Companies must strengthen cybersecurity without stifling innovation.

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Adamlevin

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‘Tis the Season for Holiday Scams

  • Double check the URL of the website to avoid scam storefronts.
  • Do some background research on the online store.
  • Click links in emails and texts with caution to avoid scams or malware.
  • Avoid oversharing on social media to prevent scammers from targeting you.
  • Beware of sales offers that seem too good to be true.

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Hackernoon

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How Coinspect is Revolutionizing Blockchain Technology Through Advanced Security

  • Coinspect, which emerged in 2014, has become a leading name in the blockchain security sector, delivering smart contract audits, penetration testing services, and source code reviews.
  • Their team has over 25 years of cybersecurity experience and offers detailed analysis of blockchain network designs, thorough checks for Layer 1 and Layer 2 network nodes, and comprehensive security reviews of decentralized apps.
  • Failure to protect an investor's crypto investment can put their investment at tremendous risk as blockchain networks are vulnerable to cyber attacks such as hacking and phishing. As a result, leading institutions are increasingly investing in companies focused on blockchain security.
  • To improve security for your crypto projects with Coinspect, start by using their services for smart contract audits, vulnerability testing, and source code reviews. Use Coinspect’s Wallet Security Ranking to analyze the security of different wallets you might use.
  • The future of companies like Coinspect for protection in the crypto ecosystem is becoming more and more necessary because cyber threats and scams are gaining in sophistication. Firms like Coinspect offer smart contract audits and penetration testing to evaluate potential risks.
  • Coinspect has been instrumental in contributing to the overall security infrastructure of the crypto industry, including offering tailored strategies for specific blockchain projects, unique risks of various cryptocurrency platforms, and the specific security needs of different blockchain systems.
  • Coinspect's wallet security ranking assists users and developers in making informed decisions for wallet security, which also helps promote overall blockchain security.
  • Coinspect's cybersecurity experience helps them solve security issues across the blockchain technology stack, which can include finding real risks and giving practical suggestions.
  • Coinspect has been an invaluable ally in protecting the cryptocurrency and blockchain industry while providing advanced security services to pioneers and creators of solutions in the web3 sphere.
  • With the rise of cyber threats and scammers, the need for getting advanced security services will continue to rise. Companies like Coinspect will take center stage in setting and enforcing standards that will build trust in transactions within this evolving technological ecosystem.

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Tech Radar

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This color manipulation attack reveals significant flaws in AI image handling

  • Researchers at the University of Texas at San Antonio (UTSA) have identified a significant flaw in AI image recognition platforms.
  • The alpha channel of images, which controls transparency, is often ignored, leaving room for potential cyberattacks in industries such as medical diagnosis and autonomous driving.
  • The UTSA research team developed the 'AlphaDog' attack method to exploit this vulnerability, causing discrepancies between human perception and AI system interpretation of manipulated images.
  • The vulnerability of autonomous vehicles, medical imaging, and facial recognition systems to the AlphaDog attack has raised concerns regarding misinterpretation of road signs, misdiagnoses, and security risks.

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Medium

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Preventing XSS Attacks in React’s src Attribute

  • XSS attacks exploit vulnerabilities in web applications to inject malicious scripts into websites.
  • Preventing XSS in React requires a combination of techniques such as sanitizing user inputs and careful coding practices.
  • Handling user-provided data in src attributes requires proper sanitization to prevent reflected XSS attacks.
  • Using well-maintained libraries like DOMPurify and lodash.escape can automate the sanitization process and reduce the risk of XSS vulnerabilities.

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TechBullion

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The Intersection of IT Services and Cybersecurity with Expert Advice from Subrat Patnaik

  • The integration of IT services with cybersecurity strategies offers a robust defense against ever-evolving threats.
  • IT services enable companies to operate efficiently and drive innovation, providing a strategic advantage.
  • A deep understanding of IT services allows organizations to integrate them with cybersecurity for optimal digital protection.
  • Malware, phishing, and data breaches are among the most prevalent dangers, each demanding attention.
  • Businesses must adopt effective data protection strategies that are compliant with regulations like GDPR and HIPAA.
  • A layered security approach represents a strategic method of protecting IT infrastructures by implementing multiple layers of defense measures.
  • Incorporating an incident response plan into IT services is crucial for mitigating cybersecurity threats.
  • Two emerging trends stand out: the application of artificial intelligence and machine learning and the adoption of the zero-trust security model.
  • The intersection of IT services and cybersecurity represents a vital synergy in today’s business environments.
  • Continuous assessment and updating of security measures allow businesses to safeguard their assets and maintain a competitive edge in an ever-transforming digital environment.

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Pymnts

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T-Mobile Spots and Ejects Possible ‘Salt Typhoon’ Hackers on Its Network

  • T-Mobile identified unusual activity on its network devices, indicating a possible breach.
  • Engineers discovered unauthorized users running commands on the network, potentially probing its structure.
  • T-Mobile ejected the bad actors before they accessed customer data or advanced deeper inside.
  • The breach is believed to be connected to the hacking network known as Salt Typhoon, allegedly backed by China.

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Amazon

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Federated access to Amazon Athena using AWS IAM Identity Center

  • Federated access to Amazon Athena using AWS IAM Identity Center allows you to manage authentication and authorization procedures centrally.
  • This article explains how to use the Athena JDBC driver to connect to Athena from third-party SQL client tools, enabling automation and enforcement of data access policies across your organization.
  • You can also integrate the Athena browser-based SAML plugin to add single sign-on (SSO) capability with your federation identity provider (IdP).
  • The article describes how to use AWS IAM Identity Center to federate access to users to AWS accounts, which integrates with AWS Organizations to manage access to the AWS accounts under your organization.
  • To implement this solution, prerequisites include an AWS account, installation or update of the latest AWS CLI, IAM Identity Center authentication configuration through the AWS CLI, access to SQL client tools, and populated tables and databases in your AWS Glue Data Catalog.
  • The article provides a five-step solution walkthrough, which includes creating IAM Identity Center users and groups, creating custom permission sets, assigning permission sets to AWS accounts, granting permissions to IAM roles, and client-side setup using JDBC.
  • The article explains that the Athena JDBC driver enables you to analyze petabytes of data without creating IAM users or long-lived credentials, and how this setup can also work with other supported identity sources such as IAM Identity Center, self-managed or on-premises Active Directory, or an external IdP.
  • The post also explains how Snowflake's unique multi-cluster and volume failover architecture helps customers build a data-driven organization with Snowflake and integrate with identity providers such as AWS IAM.
  • Customers can also choose to use Federated Direct, an advanced federated authentication option for Snowflake. More information about Federated Direct is available in the Snowflake documentation.
  • This article can be useful for developers and organizations looking to implement identity federation capabilities and multi-factor authentication with Amazon Athena while maintaining central management of authentication and authorization procedures.

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