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Talk Talk’s chief executive, Dido Harding, has revealed that 157,000 of its customers personal details has been accessed and stolen by hackers
As a result of the hack, more than 15,000 of Talk Talk’s customers bank account details were stolen.
Talk Talk just the latest…
The scale of the cyber attack itself isn’t in itself, anything new. This year has seen a plethora of high profile hacks of well known companies and government agencies, with perhaps the most well known being the Ashley Madison hack earlier in the Summer. But it is not only companies that have had to face cyber criminals. The US government directly implicated China for successfully hacking into Government agencies files.
What is most interesting about the Talk Talk hack, is the honesty and openness with which Harding has talked about the event. When the hack was first reported, Talk Talk admitted that they were ‘ initially uncertain as to the extent of the hack…’ The company also admitted that it was still too soon to measure the full impact on customers, but that it had still seen a large spike in customer defections as a result of the news.
Praise for Talk Talk Chief Executive?
Harding has received positive criticism for being as open about the scale of the hack as she has:
“When businesses do what’s right for customers throughout they actually emerge much stronger as a result…”
Harding did seem more concerned with the financial number than she did about the stress and alarm the hack caused to its customers.
Harding revealed the financial implications the hack has had on the firms finances.
In an interview with the BBC, Harding said:
“The estimated one-off costs are between £30m and £35m – that’s covering the response to the incident, the incremental calls into our call centres, obviously the additional IT and technology costs, and then the fact that over the last three weeks until yesterday our online sales sites have been down, so there will be lost revenue as a result.”
Arrests and other hacks
The hack was the second time this year that Talk Talk had its online security breached. A February attack on Talk Talk systems not allowed scammers to steal money. It more worryingly showed that not all of Talk Talk’s customer data was not encrypted. This has now been rectified.
UK police have arrested 4 people in connection with the cyber attack. The oldest was only 20 years old, while two of the others were 16 years old. The youngest was only 15.
The post UK Talk Talk Hack Could Cost Company £35m appeared first on TechBeat.
The inventor of bitcoin, Satoshi Nakamoto, has been nominated for the 2016 Nobel Prize in Economics.
Whether individuals and governments see it as the future of some sort of non regulated economic personification of personal freedom, or the grease on which the Dark Web flows, it’s still one of the stand out financial inventions of the 21st century so far.
Perhaps that’s why UCLA Professor of Finance Bhagwan Chowdhry has nominated Nakamoto for the 2016 Nobel Prize in Economics.
Chowdhry, was invited by the Nobel Prize committee to nominate someone for the 2016 prize. But after quickly running through he considered to be the usual suspects, he began looking around for someone who had contributed a ‘disruptive influence in the twenty first century.’
Chowdhry claimed that only one name came to mind. That name was Satoshi Nakamoto, the alleged inventor of cryptocurrency, BitCoin.
Chowdrhy admitted that Nakamoto was at best a long shot. ‘Outsiders,’ rarely tend to win Nobel prizes. But Chowdhry is adamant that his nomination of Nakamoto is a valid choice.
“The invention of bitcoin, a digital currency, is nothing short of revolutionary…. It is digital and exists purely as a mathematical object. It offers many advantages over both physical and paper currencies… and can be transferred securely and nearly instantaneously from one person to any other person in the world with access to internet bypassing governments, central banks and financial intermediaries such as Visa, MasterCard, Paypal or commercial banks eliminating time delays and transactions costs.”
The problem?
No one actually knows who Satoshi Nakamoto is. While Nakamoto is the name attributed to the invention of the cryptocurrency, it is in fact a pseudonym. It always has been, and it nothing looks like that’s going to change any time soon.
Despite some rather intensive searches over the years no one is still any wiser about the identity of the mysterious BitCoin inventor.
Quite how the Nobel committee will deal with the nomination will be nothing compared to how they will contact or hand the prize over to someone who doesn’t exist, should Nakamoto win.
Chowdhry has already considered a solution to the problem though.
“…I would be happy to go and accept the Prize on his behalf. What about the acceptance speech? That won’t be any problem either. He can write his speech, digitally sign it and send it to me securely. I would, of course, rehearse and deliver it on his behalf at the Prize ceremony.”
Phew. Crisis averted.
Not that Nakamoto will probably miss the prize money. Nakamoto is a smart cookie. As well as inventing BitCoin, he is reputed to have several hundred million dollars worth of the cryptocurrency in his possession, whoever, and wherever he is.
The post Creator of BitCoin Nominated for Nobel Prize. But No One Knows Who He Is? appeared first on TechBeat.
(56)It can be hard for companies with major-name brands behind them and shareholders to keep happy to put their money where their mouths are when it comes to open sourcing their content. But Google, a company with more revenue than some small companies, has the leverage to do just that. The tech giant announced this week that its TensorFlow software that powers a lot of its AI processes will be open source.
TensorFlow is currently the software that powers a lot of the stuff that makes Google…well, Google. Its machine-based deep learning and adaptation is driven by this software, but Google has now come out and said anyone can use it and change it, although the need to rewrite code won’t be necessary.
To be clear on the power of TensorFlow, this is the same software that Google uses to power its photo searching options, and as profiled in an article for Wired, experts first proposed that this would be the thing that sent Google’s revenue rocketing to unheard of heights. Instead, Google is giving it away for a very simple reason: AI can go much, much further if more people had the ability to mess with it.
“What we’re hoping is that the community adopts this as a good way of expressing machine learning algorithms of lots of different types, and also contributes to building and improving [TensorFlow] in lots of different and interesting ways,” said Jeff Dean, one of Google’s most important engineers and a key player in the rise of its deep learning tech, in the interview with Wired.
Of course, Google is still keeping some of this great software to itself, but that’s smart considering the projects that the giant still has in the pipeline. For now, this gift of advanced capability is only going to ensure that others with the goals and the know-how have the tools they need to bring their own projects to fruition.
The post Google Offers TensorFlow As Open Source appeared first on TechBeat.
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