Software company Kaseya was targeted by a cyberattack starting Friday that has since spread to hundreds of mainly small and medium-size businesses. On Monday, Kaseya chief executive Fred Voccola reported to Anne Neuberger, the deputy national security advisor for cyber and emerging technology, that the attackers demanded a $70 million ransomware payment and that his company wasn’t aware of any breach of critical infrastructure impacting national security. According to experts, the attackers may be members of REvil, a Russian cybercriminal group. Continue reading Massive Ransomware Attack Affects Hundreds of Businesses

Privately-held startup ByteDance, owner of TikTok, reported that its revenue more than doubled to $34.3 billion last year, rising 111 percent from a year ago while gross profit rose 93 percent to $19 billion. As of December 2020, ByteDance — which also runs Douyin, the domestic Chinese version of TikTok, and Jinri Toutiao, a news aggregation app — had about 1.9 billion monthly active users on all its platforms. Due to share-based compensation to workers, the company had a $2.1 billion operating loss last year. Continue reading ByteDance Revenue, Profit Leap in 2020 But No IPO in Sight

President Biden revoked former President Trump’s executive order banning social-networking services TikTok and WeChat — developed by Chinese companies ByteDance and Tencent Holdings, respectively — but didn’t let Chinese companies off the hook. Instead, he replaced the previous order with another that establishes a broader review of the potential security risks found in numerous foreign-controlled apps. Biden officials said the new order would create “clear intelligible criteria” to evaluate those risks. Trump’s executive order was immediately challenged in court, and Biden’s move, said analysts, is intended to withstand such a test. Continue reading Biden Introduces Broader Review of Foreign-Controlled Apps

The FBI is investigating 100 ransomware variants, stated director Christopher Wray, who revealed that many of them trace back to Russian hackers. He noted that the cyberattacks share “a lot of parallels … a lot of importance, and a lot of focus by us on disruption and prevention” with the September 11 terrorist attacks. Most recently, a ransomware attack on Colonial Pipeline cost its operators $4.4 million to regain control and restore services (however, federal authorities recovered $2.3 million in cryptocurrency yesterday). Another attack targeted JBS, the world’s largest meat processing company.  Continue reading FBI Director Raises Alarm Over Ransomware Threats to U.S.

The Facebook and Instagram accounts of Donald Trump will remain indefinitely suspended. Facebook’s independent Oversight Board, launched in October 2020, ruled this morning to uphold the social media giant’s January decision to suspend the accounts of then-President Trump in the wake of the U.S. Capitol insurrection. However, suggesting that an indefinite suspension “was not appropriate,” the Board “insists” that Facebook review the matter within six months, “to determine and justify a proportionate response that is consistent with the rules that are applied to other users of its platform.” Continue reading Facebook Oversight Board Upholds Ban on Trump Accounts

The European Union issued a 108-page policy that establishes rules to govern the use of artificial intelligence, setting limits on its use in everything from bank lending and school enrollment to self-driving cars and hiring decisions. Use of artificial intelligence by law enforcement and court systems, considered “high risk” because of the potential to threaten safety and fundamental rights, is also regulated. Live facial recognition in public spaces would be banned except in cases of national security “and other purposes.” Continue reading EU Releases Its Draft Policy to Regulate Artificial Intelligence

Blaming Russia for attacks that interfered in the 2020 U.S. presidential election, President Biden imposed new sanctions on 32 entities and individuals in that country. Although sanctions will make it more difficult to partake in the global economy, the White House did not immediately limit Russia’s ability to borrow money on the global market. Biden noted he “chose to be proportionate” and “is not looking to kick off a cycle of escalation and conflict with Russia.” The FBI has also recently taken strong steps to stop Chinese hacking. Continue reading U.S. Takes Steps Against Russian and Chinese Cyberattacks

China has begun issuing a digital currency from by its central bank, a move that will give that country’s government new ways to monitor its economy and people. The digital yuan will be aimed at international uses and not linked to the global financial system. At the People’s Bank of China, director of the Digital Currency Research Institute Mu Changchun noted that, “in order to protect our currency sovereignty and legal currency status, we have to plan ahead.” China is the first to issue a national digital currency. Continue reading China Is First Country to Debut a National Digital Currency

Senate Finance Committee chair Ron Wyden (D-Oregon) heads a bipartisan group of U.S. senators attempting to understand more about digital advertising auctions and their relationship to personalized ads. The group sent a letter to the largest companies that run these auctions, including AT&T, Index Exchange, Google, Magnite, OpenX Software, PubMatic, Twitter and Verizon Communications. The senators want the names of all foreign clients gaining access to user data through the auctions, citing concerns of national security. Continue reading Senators Press Ad-Auctioneers for Personal Data Sales Info

President Joe Biden is working on a draft executive order to require companies doing business with the federal government to report hacks within a few days. Homeland Security secretary Alejandro Mayorkas stated the order would also require the companies to use data encryption and two-factor authentication and would combat ransomware and improve protection for industrial control systems, transportation and election security. The SolarWinds hack has prompted the government to pay closer attention to cybersecurity. Continue reading Biden to Issue Executive Order Upgrading U.S. Cybersecurity

University of Toronto’s cybersecurity group The Citizen Lab just released a report with the finding that TikTok’s underlying code does not pose a threat to U.S. national security. Former president Donald Trump and leaders in other countries accused ByteDance’s TikTok of spying for China but The Citizen Lab, which reports on censorship and surveillance by Chinese social media apps, found no evidence of “overtly malicious behavior.” However, they added that there could be undiscovered security issues. Continue reading New Report Finds TikTok Does Not Pose a U.S. Security Risk

The National Security Commission on Artificial Intelligence identified China as the first to challenge U.S. technological dominance since the end of World War II. To counter this potential threat to the United States, the 15-member commission issued a 756-page report urging a $40 billion investment in artificial intelligence research and development to be “AI ready” by 2025. The report also called for the U.S. to stay two generations ahead of China in semiconductor manufacturing. To that end, it suggested a significant tax credit for chip makers. Continue reading National Security Commission on AI Pinpoints Chinese Threat

Huawei Technologies, the Chinese telecommunications company, filed a lawsuit in the U.S. Court of Appeals for the Fifth Circuit asking for a review of last year’s FCC ruling that found it a national security risk. As a result of the FCC’s ruling, U.S. telecommunications operators were blocked from buying Huawei’s 5G equipment. Huawei has previously challenged numerous actions taken against it in recent years. The Trump administration blocked Huawei from accessing U.S. technology and encouraged allies to do the same. Continue reading Huawei Appeals FCC Edict Naming It a National Security Risk

Microsoft president Brad Smith’s CES keynote balanced Microsoft’s global footprint with the opportunities, challenges and responsibilities of technology, government and people. Smith illustrated these themes with sections on massive data, environmental impact, cybersecurity, privacy, artificial intelligence, regulation, and a call for a 9/11-type commission to protect the future by understanding the threats of the present. Smith wrapped his remarks with the words of John F. Kennedy from 1962 when he said, “Technology has no conscience of its own. Whether it becomes a force for good or ill depends on man.” Continue reading CES: Microsoft Keynote on Promises, Responsibility of Tech

After several months of investigation by the U.S. Securities and Exchange Commission and two U.S. Attorneys’ offices, Zoom Video Communications revealed that it has provided investigators with information regarding its interactions with China and other governments in addition to security and user privacy issues. A former employee based in China, Xinjiang Jin (also known as Julien Jin) has been charged by the Department of Justice for helping the Chinese government halt a remote commemoration of the Tiananmen Square uprising. Continue reading SEC, State Attorneys Investigate Zoom Over China Contacts