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Showing posts with label US Cyber Security. Show all posts
US Cyber Security
Cyber Security Data Privacy Laws Data server database E-Commerce Phishing Attacks UK US Cyber Security

Tech Giants Threaten UK Exit Over Privacy Bill Concerns

As US tech giants threaten to sever their links with the UK, a significant fear has emerged among the technology sector in recent days. This upheaval is a result of the UK's proposed privacy bill, which has shocked the IT industry. The bill, which aims to strengthen user privacy and data protection rights, has unintentionally sparked a wave of uncertainty that has US IT companies considering leaving.

The UK's plans to enact strict privacy laws, which according to business executives, could obstruct the free movement of information across borders, are at the core of the issue. Users would be able to request that their personal data be removed from company databases thanks to the unprecedented power over their data that the new privacy regulation would give them. Although the objective is noble, major figures in the tech industry contend that such actions may limit their capacity to offer effective services and innovate on a worldwide scale.

US tech giants were quick to express their worries, citing potential issues with resource allocation, regulatory compliance, and data sharing. The terms of the bill might call for a redesign of current systems, which would be costly and logistically challenging. Some businesses have openly addressed the prospect of moving their operations to more tech-friendly locations due to growing concerns about innovation and growth being hampered.

Additionally, some contend that the proposed measure would unintentionally result in fragmented online services, where users in the UK might have limited access to the platforms and functionalities enjoyed by their counterparts elsewhere. This could hurt everything from e-commerce to communication technologies, harming both consumers and businesses.

The topic has received a lot of attention, and tech titans are urging lawmakers to revisit the bill's provisions to strike a balance that protects user privacy without jeopardizing the viability of their services. An exodus of technology could have far-reaching effects. The consequences might be severe, ranging from employment losses to a decrease in the UK's status as a tech center.

There is hope that as conversations proceed, a solution will be found that takes into account both user privacy concerns and the practical requirements of the tech sector. The preservation of individual rights while promoting an atmosphere where innovation can flourish depends on finding this balance. Collaboration between policymakers, tech corporations, and consumer advocacy organizations will be necessary to find common ground.


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US Cyber Security
Cyber Crime Ukraine Ukrainian Hacker United States US Cyber Security

US court sentenced Ukrainian to seven years in prison for electronic fraud

A court in the United States has sentenced Ukrainian citizen Alexander Musienko to more than seven years in prison for participating in an online money-laundering scheme that legalized millions of dollars.

The suspect admitted his guilt in electronic fraud. On February 11, the court sentenced him to 87 months in prison (more than seven years). In addition, a citizen of Ukraine is obliged to pay more than $98.7 thousand in compensation.

As follows from the materials of the case, from 2009 to 2012, the 38-year-old Alexander Musienko from Odessa collaborated with computer hackers from Eastern Europe in order to get more than $3 million from the bank accounts of American companies. These funds were eventually stolen and legalized using bank accounts abroad.

According to the U.S. Department of Justice, he legalized funds stolen by hackers in the United States. This task was entrusted to private individuals whom Musienko hired by fraud to perform the duties of financial assistants. They transferred the stolen funds to their bank accounts at the agreed time and immediately transferred them to third-party accounts registered outside the United States.

So, in September 2011, Musienko's financial assistants, who were sure that they were working for a legitimate business, hacked the online accounts of the North Carolina company and transferred a total of almost $296.3 thousand to two bank accounts controlled by Musienko.

The Department added that Musienko was arrested in South Korea in 2018 and extradited to the United States in 2019. Around April 2019, the FBI investigated the information on Musienko's laptop. As a result, files containing about 120 thousand payment card numbers and associated identification information were found.

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