Category Archives: eCommerce

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G20 countries skeptical about cryptocurrencies & Blockchain

Law.com reported that “crypto assets, which include cryptocurrencies, tokens, and ICOs, ‘raise issues with respect to consumer and investor protection, market integrity, tax evasion, money laundering and terrorist financing.’” The August 6, 2018 article entitled “G20 Countries’ Cryptocurrency Regulations Highlight Contradictory Blockchain Realities” included these comments: At the 2018 G20 international forum, finance ministers and … Continue reading this entry

iMac G3 and iPod helped save Apple from bankruptcy and now Apple is worth $1 Trillion!

The New York Times reported that “Apple became the first publicly traded American company to be worth more than $1 trillion when its shares climbed 3 percent to end the day at $207.39. The gains came two days after the company announced the latest in a series of remarkably profitable quarters.” The August 3, 2018 … Continue reading this entry

Bermuda, Malta or Gibraltar are great places to avoid cryptocurrency regulation!

The New York Times reported that “Now the race is on to become the go-to destination for cryptocurrency companies that are looking for shelter from regulatory uncertainty in the United States and Asia.” The July 29, 2018 article entitled “Have a Cryptocurrency Company? Bermuda, Malta or Gibraltar Wants You” included these comments: In small countries … Continue reading this entry

EU’s antitrust fine against Google is STUPID, STUPID, STUPID!

The New York Times reported in response to the EU $5.1 billion fine that “Google argued that the European decision was an attack on its ad-based business model. … The arrangement, the company said, lets manufacturers compete with Apple’s iPhones and iPads, by making phones and tablets of various designs and prices, while Google makes … Continue reading this entry

Do you like the idea that Facebook is increasing the use of Artificial Intelligence (AI)?

The Washington Post reported that Yann LeCun (Facebook’s chief AI scientist and an early machine-learning architect) said that “Facebook will dramatically accelerate its research into artificial intelligence, …in hopes of ensuring the social network doesn’t fall behind with the technology it will need to contend with Internet rivals and police its gargantuan audience.”  The July … Continue reading this entry

Now available for governments – IBM’s Blockchain as a Service (BaaS)!

Computerworld.com reported that “IBM fellow Jerry Cuomo told the House Committee on Science, Space and Technology on Wednesday that blockchain is “transformative” and said his company has engaged in more than 400 blockchain projects across a number of industries, including supply chain, financial services, healthcare and government.”  The February 18, 2018 article entitled “IBM sees … Continue reading this entry

Apple’s App Store a monopoly?

The Washington Post reported a 7 year old case will be considered by the US Supreme Court as to whether “Apple has “monopolized” the market for iPhone apps because it has total control over the games, utilities and other offerings that appear in its App Store.”  The June 18, 2018 article entitled “The Supreme Court … Continue reading this entry

74 arrested for Spearphishing (cyber fraud aka Business Email Compromise - BEC) for theft of +$16m!

The US Department of Justice announced the arrest of 74 criminals, including 42 in the US, who made millions “targeting employees with access to company finances and businesses working with foreign suppliers and/or businesses that regularly perform wire transfer payments.” The June 11, 2018 Press Release entitled “74 Arrested in Coordinated International Enforcement Operation Targeting … Continue reading this entry

Ransomware is #1 for Cyberinsurance claims!

HealthITSecurity.com reported that more “…than one-quarter of cyber insurance claims received by AIG last year were the result of ransomware attacks, the largest percentage of any cyberattack type, according to the insurance giant’s 2017 cyber insurance claim statistics.”  The June 4, 2018 report entitled “Ransomware Attacks Topped List of Cyber Insurance Claims” included these concerns: … Continue reading this entry

GDPR means that EU is now the most powerful regulator of privacy in the world!

The Washington Post article highlighted the importance of GDPR in that it “underscored the extent to which the European Union has emerged as the most powerful regulator of Silicon Valley, stepping in where Washington has failed — or simply been unwilling — to limit some of the United States’ most lucrative and politically influential companies.”  … Continue reading this entry

Beware! Cryptocurrency investment schemes now the target of many state regulators

The Washington Post reported that “Securities regulators across the United States and Canada announced dozens of investigations Monday into potentially deceitful cryptocurrency investment products, the largest coordinated crackdown to date by state and provincial officials on bitcoin scams.”  The May 21, 2018 article entitled “State regulators unveil nationwide crackdown on suspicious cryptocurrency investment schemes” included … Continue reading this entry

South Carolina – First state to adopt a Cybersecurity Insurance Law!

The Charleston CEO announced that “Governor Henry McMaster signed the South Carolina Department of Insurance Data Security Bill into law today. South Carolina will be the first in the nation to pass a cybersecurity bill that requires insurers to establish a strong and aggressive cybersecurity program to protect their companies and their consumers from a … Continue reading this entry

Coming soon - Cryptocurrencies traded on Wall Street!

The New York Times reported that Intercontinental Exchange (ICE) which is the “parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin.”  The May 7, 2018 article entitled “Bitcoin Sees Wall Street Warm to Trading Virtual Currency” included a … Continue reading this entry

GDPR phishing scam directed at Airbbnb customers!

Darkreading.com wrote about a “new phishing scam capitalizes on the upcoming General Data Protection Regulation (GDPR) to trick Airbnb customers into sharing personal and financial data,…”  The May 3, 2018 article entitled “Hackers Leverage GDPR to Target Airbnb Customers” included these comments: Targets receive an email designed to appear as though it’s from Airbnb, addressing … Continue reading this entry

Watch out! Russian spies plan to take control of Blockchain (which means cryptocurrencies)!

The New York Times reported that an agent of the Russia’s F.S.B  (successor to the K.G.B.) boasted: “Look, the internet belongs to the Americans — but blockchain will belong to us.”  The April 29, 2018 report entitled “Blockchain Will Be Theirs, Russian Spy Boasted at Conference” included these comments at the setting where the F.S.B. … Continue reading this entry

CLOUD Act dramatically changes international privacy laws (and eDiscovery)!

Without any public hearings, review, or public comment Congress created the CLOUD Act which was signed into law as part of the $1.3 trillion government spending bill which changed the 1986 Stored Communications Act (SCA).  The SCA was created to protect privacy in telephone records and with the advent of the Internet has been used … Continue reading this entry

Are ATMs safe? Probably not since Black Box ATM attacks are mounting which is costing banks millions!

Bankinfosecurity.com report that “Fraudsters are now gingerly testing the waters in central and Western Europe with attacks that drain cash machines of their funds, according to a trade group that studies criminal activity around ATMs.”  The April 18, 2018 report entitled “No Card Required: ‘Black Box’ ATM Attacks Move Into Europe” included these statistics: The … Continue reading this entry

Facebook settles theft of trade secret lawsuit on the eve of Mark Zuckerberg’s congressional testimony!

Law360.com reported that “Facebook told a California federal judge Monday it had reached a mid-trial settlement of BladeRoom Group Ltd.’s $365 million data center trade secrets suit, prompting co-defendant Emerson Electric Co. to unsuccessfully seek a mistrial on grounds that Facebook’s ongoing Cambridge Analytica scandal will bias jurors against it.”  The April 9, 2018 article … Continue reading this entry

Don’t trust public Wifi is one of 5 ways to avoid fraud this tax season!

Darkreading.com reported very bad news about tax season fraud that “Sixty days into the 2017 tax season, that same preparer had 1.5 million user authentication attempts with more than 28,700 of them being either denied access or asked for more authentication.”  The April 6, 2018 reported entitled “Protect Yourself from Online Fraud This Tax Season” … Continue reading this entry

No surprise - Cyber attacks directed at Cryptocurrency!

Darkreading.com reported that Web injects have led to “recent evidence of threat actors using Web injects to target cryptocurrency exchange Coinbase and Bitcoin wallet Blockchain.info.”  The March 22, 2018 article entitled “Criminals Using Web Injects to Steal Cryptocurrency” included this description of Web injects: Web injects is basically code for injecting malicious content into a … Continue reading this entry

Blockchain insurance promises faster claims payments and cheaper coverage!

Insurance.com reported that Allstate Insurance is optimistic that “Blockchain has the potential to revolutionize underwriting…”  The March 16, 2018 article entitled “Blockchain could ‘revolutionize’ insurance” included these comments from Dale Sherman, Allstate vice president of claims: Coverage could be just-in-time or on-demand. You can imagine mile-by-mile insurance for a specific individual based on their very … Continue reading this entry

Yahoo’s ToS limitations of liabilities challenged in Cyberbreach of 3 billion users!

Reuters reported that Judge Lucy Kohl ruled that “the plaintiffs could try to show that liability limits in Yahoo’s terms of service were “unconscionable,” given the allegations that Yahoo knew its security was deficient but did little.” The March 12, 2018 article entitled “Data breach victims can sue Yahoo in the United States” included these … Continue reading this entry

Court orders that Cryptocurrencies should be regulated by the US government!

Law.com reported “that virtual currencies can be regulated by the U.S. Commodity Futures Trading Commission [CFTC].” The March 8, 2018 report entitled “Federal Court Just Ruled CFTC Can Regulate Crypto—But Agency Isn’t Alone” included these questions resolved by US District Judge Weinstein (Eastern District of New York) with a resounding “YES”: Is virtual currency a … Continue reading this entry

Equifax only had $75M in cybersecurity insurance but expect claims of at least $275M!

Reuters reported that Equifax’s 2017 cyber incident where +147M consumers’ data was stolen included “costs mainly reflect technology and data security upgrades, legal fees, and free identity theft protection and credit monitoring offered to the more than 147 million consumers affected by the cyber security incident.”  The March 2, 2018 report entitled “Equifax expects $200 … Continue reading this entry