Capital One Hacker Stole Data From More Than 30 Entities

Former Amazon employee Paige Thompson, charged with hacking Capital One Financial records, illegally accessed terabytes of data from 30+ other companies and institutions, according to authorities. Thompson, arrested July 29, was accused of stealing 106 million Capital One records, considered to be one of the largest thefts of cloud-based data. Court documents reveal that Thompson stole 140,000 Social Security numbers, 80,000 bank account numbers, millions of credit card applications and one million Canadian social insurance numbers. Continue reading Capital One Hacker Stole Data From More Than 30 Entities

Capital One Breach Exposes Data of 106 Million Customers

A hacker accessed the personal data of about 106 million credit card customers and applicants of Capital One Financial, the fifth-largest credit card company in the U.S., making it one of the biggest such breaches of a large bank. Federal authorities arrested 33-year old Paige Thompson, who is accused of breaking through the bank’s firewall to access data stored on Amazon’s cloud service. Most of those exposed by the hack were customers and small businesses who applied for credit cards between 2005 and early 2019. Continue reading Capital One Breach Exposes Data of 106 Million Customers

Facebook Cryptocurrency Gets Backing From Major Players

Mastercard, PayPal Holdings, Uber Technologies and Visa are among the more than a dozen companies that have agreed to back Facebook’s new cryptocurrency, codenamed Project Libra. Each company will invest $10 million and be part of the Libra Association, a consortium to control the virtual currency, said sources. The invested money will fund the currency, which will be linked to a collection of government-issued currencies to make it more stable. Facebook has been developing the project in secrecy for over a year. Continue reading Facebook Cryptocurrency Gets Backing From Major Players

Instagram Tool Lets Users Make In-App Fashion Purchases

Partnering with 23 brands, Facebook’s Instagram debuted an easy-to-use in-app checkout tool for U.S. users. Adidas, Burberry, Dior, Nike, H&M, Zara, Kylie Cosmetics and Kim Kardashian West’s KKW Beauty are among the first retailers to sign on, with more to be added to the beta test throughout the year. Users in the U.S. will see the feature roll out over the next few weeks. Instagram head of product Vishal Shah noted that, “given that 80 percent of people follow a business on Instagram, the desire really is there to shop.” Continue reading Instagram Tool Lets Users Make In-App Fashion Purchases

New Features Make it Easier to Run Ads on Google Services

Google launched four new ad products to automate the process of buying ads and create a central marketing hub for Google. Via an integration with Shopify, Google now runs shopping ads on its site and enables advertisers to buy these ads directly through Shopify, a move that helps both companies fend off rival Amazon. The new ad products allow marketers to set a goal and then pursue it with ads across Google Search, Google Maps, YouTube and the Internet. Google ads head Sridhar Ramaswamy describes it as a “one-stop shop.” Continue reading New Features Make it Easier to Run Ads on Google Services

PayPal to Acquire European Payments Startup iZettle for $2.2B

PayPal plans to make the largest purchase in its history: $2.2 billion for Stockholm-based financial tech startup iZettle. The purchase puts PayPal in thousands of brick-and-mortar retail shops around the world, and sharpens its rivalry with Square, which focuses on small businesses with physical locations. Dubbed the “Square of Europe,” iZettle produces technology and devices that allow almost half a million businesses in a dozen European countries, Brazil and Mexico to accept credit cards. Continue reading PayPal to Acquire European Payments Startup iZettle for $2.2B

Amazon’s Plan to Lure Retailers to Amazon Pay via Discounts

Sources say Amazon is making a move that threatens PayPal and banks that issue credit cards: passing discounts it gets on credit-card fees to retailers that use its online payment service. In doing so, Amazon is sacrificing short-term profitability to boost the fortunes of its payments system. JPMorgan Chase, Citigroup, Visa, Mastercard and payment processors First Data and Stripe Inc. partake in the $90 billion per year swipe fee industry, about 2 percent of a typical credit card purchase or 24 cents for debit. Continue reading Amazon’s Plan to Lure Retailers to Amazon Pay via Discounts

Hacker Accessed Customer Data From Orbitz Legacy System

Popular travel booking site Orbitz, owned by Expedia, confirmed yesterday that it “identified and remediated a data security incident affecting a legacy travel booking platform.” The company explained that a hack late last year exposed customer data and billing information spanning two years. Personal data may have included birth dates, mailing addresses, email addresses, gender, payment card info, and more. According to Orbitz, about 880,000 credit cards may have been affected. However, the company noted that the current Orbitz.com site was not breached. Continue reading Hacker Accessed Customer Data From Orbitz Legacy System

Amazon in Talks on Bank Product with JPMorgan, Capital One

According to sources, Amazon is currently in discussions with JPMorgan Chase and other banks about creating a product similar to a checking account aimed at a younger demographic. These early stage talks may not result in anything tangible, and are not intended to turn Amazon into a bank. What the product would do is further integrate Amazon into its customers’ lives, from Whole Foods, Kindle, Alexa and its website. The new product would also potentially cut fees Amazon currently pays to banks and provide more customer data. Continue reading Amazon in Talks on Bank Product with JPMorgan, Capital One

Alphabet, Amazon, Microsoft Dominate With Major Q3 Growth

Alphabet, Amazon and Microsoft reported significant Q3 growth: Alphabet’s profits rose 33 percent, Amazon’s 34 percent, and Microsoft’s 12 percent. The higher earnings are a reflection of the dominance of a few big companies that continue to expand into new markets. For example, enjoying the fruits of its flourishing cloud computing sector, Alphabet posted a 40 percent increase in non-advertising revenue, to $3.41 billion. News that Amazon obtained licenses from several state pharmaceutical boards also rocked the market. Continue reading Alphabet, Amazon, Microsoft Dominate With Major Q3 Growth

WPA2 Wi-Fi Flaw Revealed, Android & Linux Most Vulnerable

According to researchers, the WPA2 protocol for Wi-Fi connectivity contains a significant weakness that makes it vulnerable to attackers. A hacker within range of connected devices would reportedly be able to exploit this weakness to hijack passwords, emails and other “encrypted” data, or even place ransomware into a website the user is visiting. The research, which has been ongoing for weeks, reveals that the WPA2 core vulnerability could affect operating systems and devices including Android, Linux, OpenBSD, MediaTek, Linksys, macOS and Windows. Continue reading WPA2 Wi-Fi Flaw Revealed, Android & Linux Most Vulnerable

Security Update: 3 Billion Yahoo Accounts Hit in 2013 Attack

Yahoo announced yesterday that all 3 billion of its user accounts were affected by a previously disclosed August 2013 cyberattack, originally reported by the company as affecting 1 billion accounts. Yahoo had earlier reported that a separate 2014 attack affected 500 million accounts. Last year we learned that, “digital thieves made off with names, birth dates, phone numbers and passwords of users that were encrypted with security that was easy to crack,” according to The New York Times. “The intruders also obtained the security questions and backup email addresses used to reset lost passwords.” Continue reading Security Update: 3 Billion Yahoo Accounts Hit in 2013 Attack

Equifax Data Breach, Discovered in July, Impacts 143 Million

Equifax reported that hackers likely gained access to the personal information of about 143 million people in the U.S., making it the second biggest data breach after last year’s two Yahoo hacks, which impacted as many as 1.5 billion customers. The Equifax hack is almost twice as large as the J.P. Morgan Chase & Co. hack three years ago. The damage the hack to Equifax will do is as of yet unknown, but it could be serious, given the immense scope of the attack and the future potential for fraud.   Continue reading Equifax Data Breach, Discovered in July, Impacts 143 Million

Privacy Group Files Complaint Over New Google Ad Program

The Electronic Privacy Information Center filed a legal complaint with the Federal Trade Commission over Google’s Store Sales Measurement, a new advertising program that connects consumers’ online activities with purchases in retail stores. According to the complaint, Google now has access to U.S. consumers’ credit and debit card purchase records, but doesn’t reveal how it gets the information and uses a secretive method to protect it. The complaint states that consumers should be provided a way to opt out of the program. Continue reading Privacy Group Files Complaint Over New Google Ad Program

Mobile Commerce to Push App Economy Over $6T by 2021

According to a new report from App Annie, the app economy will be worth $6.3 trillion in five years, up from $1.3 trillion in 2016. The average consumer is not downloading more apps, but is spending more time and money in apps. The measurement firm predicts the number of worldwide app users will nearly double to 6.3 billion in 2021, and the time those individuals use apps will more than double. Ninety percent of last year’s total app economy was represented by the purchase of goods and services through mobile apps, a figure App Annie expects will increase to 95 percent by 2021. Continue reading Mobile Commerce to Push App Economy Over $6T by 2021

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