WASHINGTON, August 3, 2011 – U.S. customers may soon begin seeing data security technology involving ATMs and cell phones that would work without tracking people thanks to the efforts of a European security software company.
Patrick Carroll, CEO of ValidSoft Limited, discussed the company’s real-time fraud detection software VALid-POS last week. The program is already in the works to be deployed through a deal with Visa Europe. Carroll believes his firm’s technology answers current privacy issues lawmakers and industry professionals have been trying to tackle for several years.
“If you track people, you’re breaking every privacy rule in the book,” said Carroll.
“[Our fraud prevention technology] is based on an explicit opt-out model so that banks can start to work on detecting and preventing fraud from day one when the technology is rolled out,” said Carroll.
Founded in 2003, the company received the European Privacy Seal in 2008. The Seal is a certification of meeting the most stringent privacy laws in the European Union by European Union Commission-backed company, EuroPrise.
“We’re the only security company in the world to have a European Privacy Seal,” said Carroll.
“There are 27 states in the EU. The state that oversees EuroPrise is Germany. Germany has the most stringent data privacy rules in the world, bar none. If we can comply with Germany, we comply ipso-facto with all of the rest of Europe. But we actually have achieved compliance with each state individually as well,” said Carroll.
When a person accesses her ATM account, VALid-POS technology correlates that person’s identity through probability and proximity of a person’s cell phone to that bank’s branch office. It is not, however, a tracking technology, which has made all the difference, according to Carroll.
“To get a European Privacy Seal we’ve had to be able to demonstrate without any ambiguity that we are a totally anonymous system,” said Carroll. “
“We have, in many cases, no idea where the transaction is taking place except through our correlation technology. We can prove demonstrably that we completely protect the privacy of the individual,” said Carroll.
Amid a summer of competing cyber security legislation taking shape on Capitol Hill, geo-location data privacy legislation also made an appearance. The Location Privacy Protection Act of 2011 introduced in June by Sen. Al Franken (D-MN) could require that any company obtaining a customer’s location data from his or her smart phone must first obtain consent.
ValidSoft worked with legal experts around the world to arrive at conclusive legal opinions regarding ValidSoft’s software compliance with privacy laws in the respective countries around the world. As for compliance in the U.S., ValidSoft’s current legal opinion is that the technology is fully compliant with U.S. privacy laws.
“Privacy is a big issue, it’s not going to go away, it’s going to become more stringent,” said Carroll.
“We’re calling on the industry – the network side, governments and organizations – should look for a condition precedent in the existence of a formal certification before privacy related information can be related to any third parties. That is the only way you can prove that you are not abusing the privacy of an individual.”
Remote Work an Opportunity for Service Providers to Build Trust on Cybersecurity: Research Director
A study by Futurum Research found organizations expect more remote work long-term.
July 6, 2022 – An increase in remote work post-pandemic provides internet service providers with an opportunity to build trust by prioritizing cybersecurity, according to a new study discussed Wednesday.
The Futurum Research study of over 500 respondents – many of which are influential decision makers – concluded that post-pandemic, organizations are expecting their workforce to become more remote long-term.
“This, I believe, provides an opportunity for service providers to, for example, prioritize higher security as a way for these organizations to have more confidence and have more satisfaction in how the work-from-home coordination and limitations are optimized,” Ron Westfall, research director and senior analyst at Futurum Research, said at Fiber for Breakfast event on Wednesday
Cybersecurity is a huge concern for companies as employees work from home on various networks and with less supervision and “there is still a lot of work to be done,” continued Westfall. Security remains a hot topic in the industry as cyberattack threats increase.
Organizations that have already adopted a single, holistic approach to remote working are showing greater satisfaction with the outcomes of their collaboration platforms, Westfall said. Westfall indicated that executive leaders need to take action to produce an organization-wide work-from-home collaboration policy.
Video surveillance and artificial intelligence technologies are allowing key decision makers to maintain a remote work presence. However, over two-thirds of companies are still improvising how they will approach the remote or hybrid workforce, said Westfall.
Cyber Notification Bill Critical, But Won’t Stop Bad Actors Entirely, Says Senator
Congress recently passed legislation including a requirement for critical infrastructure entities to notify government on cyber attacks.
WASHINGTON, March 15, 2022 – Mandatory cyber attack reporting is critical to keeping up cyber defenses against potential Russian attacks, a U.S. senator said, following the passing by Congress of legislation that would require certain companies to report such attacks within 72 hours.
But Senator Mark Warner, D-Virginia, and a former State Department cyber expert, said the bill will not stop bad actors entirely.
“We probably cannot be 100 percent effective on keeping the bad guys out,” Warner said Monday during a Center for Strategic and International Studies event discussing the Russian invasion of Ukraine. “We shouldn’t aim for 100 percent perfection on defense, but what we should aim for is this information sharing, so that we could then share with the private sector.”
The Cyber Incident Reporting for Critical Infrastructure Act of 2022, part of a larger budget bill, requires certain critical infrastructure owners, including in the communications, energy and healthcare sector, and operators to notify the Cybersecurity and Infrastructure Security Agency of cybersecurity on attack incidents in certain circumstances. It was passed by both chambers and President Joe Biden is expected to sign the bill into law soon.
The bill’s passing comes after a year of high-profile cyber attacks that targeted software companies, a meat producer and an oil transport firm. Following those attacks, lawmakers and cyber officials urged Congress to push the bill forward. Late last year, Secretary of State Antony Blinken announced the department intends to create a new cyber bureau to help tackle the growing challenge of cyber warfare.
It also comes as Russia continues its war in Ukraine, which some have suspected will ramp up global cyber attacks.
Chris Painter, president of the Global Forum on Cyber Expertise Foundation and former coordinator for cyber issues at the State Department, agreed with Warner on Monday, saying that he thinks “that we will see that [cybersecurity attack capability] is being held in reserve, so I think shields up is really the right approach for the U.S.
“With a dedicated adversary like Russia,” Painter said “you could be very good at defense, [but] they’re still going to get in.”
Warner, who said the notification requirement is a “giant step forward,” said the bill doesn’t “want to hold the company accountable, [but] we do want to go after malware actors.” He added this is about being resilient in the face of incoming attacks.
But in a January congressional hearing about cybersecurity, Ross Nodurft of the Alliance for Digital Innovation, warned Congress against an “overly prescriptive definition of a [cybersecurity] incident” to avoid running the risk of “receiving so many notifications that the incidents which are truly severe are missed or effectively drowned out due to the frequency of reporting.”
Justin Reilly: Rising Ransomware Threats on Schools Require Better Approach to Cybersecurity
Ransomeware attacks are a costly lesson for educators.
Since the advent of the pandemic, education has been in a state of vulnerable flux. The rapid embrace of technology, sparked by the need to introduce remote learning, has given many educators whiplash. They need time to normalize, but recent trends threaten their ability to do so.
Against the backdrop of technological chaos, opportunistic hackers have been targeting schools with heightened fervor, causing harmful delays and disruptions on both a systemic and financial level. It’s time for schools to start getting proactive about cybersecurity, or they risk paying a hefty tuition to learn why they should have acted sooner.
Education technology use is surging across the nation. A recent study showed ed-tech up 52 percent over pre-pandemic levels, with U.S. school districts using nearly 1,500 different digital tools on average each month. While these digital tools possess the power to ultimately streamline and transform classroom management for the better, teachers are still feeling overwhelmed by the number of technology solutions they’re being asked to implement.
This issue is being exacerbated by many tech-resistant districts and teachers being forced to catch up all at once. When the pandemic hit, using devices and technology in the classroom was no longer an option – learning quickly needed to be online and accessible. By now, the dam has fully broken on tech adoption and we’re only likely to see these trends accelerate. Of course, as other sectors have seen firsthand over the last two years, these unchecked developments often cast unsavory shadows.
An appealing target for hackers
School districts were already an appealing target for hackers ahead of the pandemic, but the rapid adoption of technology – often outstripping security measures equal to these digital strides – has effectively chummed the waters for malicious elements looking for a “soft” target.
Cyberattacks against school districts went up by 18 percent in 2020, the height of the pandemic. The trend has continued since and isn’t expected to slow down in 2022. Among attacks against school districts, ransomware – an attack that locks users out of files on their own systems and then demands ransom money to return their rightful access – is by far the most common variety.
Just a few weeks into 2022, there were already multiple major headlines involving ransomware targeting school districts. The biggest story was the hacking of education website service provider FinalSite, which shut down the websites of 5,000 schools and colleges. Another story involved the cancellation of classes for 75,000 students after the Albuquerque Public Schools district fell victim to a ransomware attack it had been fending off for several weeks.
Yet another case, also in New Mexico, affected the town of Truth & Consequences. The town suffered a cyberattack just after Christmas and, as of mid-January, had still not regained control of its computer systems.
There’s no time left for district leaders to drag their feet on cybersecurity. It can be tough, especially given budget challenges, but the gap between digital advancement and lacking cybersecurity presents too great of a risk for schools.
Make cybersecurity a priority in hiring
So what can school districts do to prepare? The first step is to make cybersecurity a proper priority – and that includes budgeting and hiring. Many schools still don’t have dedicated cybersecurity officers, instead relying on – in many cases at best – a CIO who happens to be tech-savvy.
This is starting to turn around in light of recent events, with more and more schools hiring chief cybersecurity officers and point-persons. Keeping up with this trend will be critical for setting a strong foundation.
Budgeting will always be a challenge, of course, seeing as many school districts still don’t have any budget at all dedicated to cybersecurity. This needs to change, but some schools have started getting creative on this front in the meantime. One possibility is to fold cybersecurity efforts into operating budgets. Another timely approach is to capitalize on new and improved “cyber grants” being offered by federal and local governments to meet this increasing need.
The most important thing is simply not to be ad hoc about cybersecurity. School districts can proactively gather data to find out where their needs are, what the wants are from teachers, and how they can properly address them. It’s far better to start gathering this data early rather than wait until it’s too late.
Consider this: schools can either make the investment now or pay much more a short way down the road. Should a school or district become the victim of ransomware, they’ll have to pay both to resolve the immediate crisis and for cybersecurity upgrades, all of which will have been unbudgeted and leave them reeling long after the attack. The norms of education are changing, and priorities need to change with them.
Justin Reilly is the CEO of Impero Software, which offers a virtual private network solution for schools and also serves more than half of the Fortune 100. This Expert Opinion is exclusive to Broadband Breakfast.
Broadband Breakfast accepts commentary from informed observers of the broadband scene. Please send pieces to firstname.lastname@example.org. The views reflected in Expert Opinion pieces do not necessarily reflect the views of Broadband Breakfast and Breakfast Media LLC.
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