HBC Going Private

Posted by & filed under Corporate Strategy.

Description: HBC is no longer going to be a publicly-traded company. Chairman Richard Baker won a shareholders’ vote in his third bid to take the company private. In June 2019 Baker offered $9.45 a share, but this drew negative shareholder reaction. By this January the offer was sweetened to $11 per share, and 98% of… Read more »

$ 3 Million Ransom

Posted by & filed under Data security.

Description: The hackers are keeping busy. Travelex, a company dealing in foreign exchange transactions, has been hit by a virus. Reports say the hackers are holding Travelex to a $3 million ransom under the threat of releasing personal data. In the interim, the company’s outlets at various airports will use manual processes to exchange currency…. Read more »

Already?

Posted by & filed under Data security, Ethics.

Description: It’s already happening. Last week, Disney launched streaming service DisneyPlus; this week user accounts and passwords started showing up on hacker websites. Now that’s what I call efficiency! Unfortunately, it’s the type of efficiency that comes by exploiting system weaknesses. Professor Paul Rohmeyer, from the Stevens Institute of Technology in New Jersey, said he… Read more »

Big Bucks for Listing

Posted by & filed under Corporate Strategy, Ethics.

Description: Amazon is giving toymakers favourable promotion for the upcoming Christmas sales season – if they are prepared to pay up to $ 2 million. There’s nothing illegal about charging the toy manufacturers a fee for their place in the sun. But some have commented that the practice is not clearly disclosed to consumers. They… Read more »

No worries?

Posted by & filed under Data security.

Description: A consultant, Jason Coulls, reports that he has discovered Scotiabank software and access codes on a website. Scotiabank is taking action, directing its technical team to remove the material. Scotiabank is reassuring the public that no problems will result to its 25 million customers. Date:  September 20, 2019 Source:  cbc.ca Link: https://www.cbc.ca/news/business/scotiabank-data-1.5291511 Discussion points: … Read more »

AI Goes Criminal

Posted by & filed under Currency, Data security.

Description: You may have heard of the marvels of AI. Be careful though, as a story this week revealed how someone used AI to fake a boss’s voice. The fake voice told an employee to transfer 220,000 Euros into a secret account. Ouch. That introduces a whole new element of risk for companies in terms… Read more »

Maybe next time take the help

Posted by & filed under Data security.

Description:   Well, no one lost their job, but some might wonder why following news this week that officials at the International Civil Aviation Organization (ICAO) in Montreal mishandled a “watering hole” attack on their systems in November, 2016. CBC recently obtained documents showing the depth of the breach and the ICAO’s delayed and misplayed reaction…. Read more »

Fines for Facebook?

Posted by & filed under Data security, Financial Accounting.

Description:   Now it looks like all of Facebook’s privacy issues may be going to cost the company big fines. Regulators at the Federal Trade Commission – otherwise known as the FTC – are in discussions with Facebook over what may turn out to be the largest fine the agency has ever imposed. Last March the… Read more »

The Great Cannon

Posted by & filed under Data security.

Description:  It seemed at one time that the internet might offer greater freedom and democracy to the population of China. But the growing threat of China’s hacks and espionage are causing us to rethink those views. A recent paper describes the 2015 attack on GitHub’s giant stores of computer code. This attack has been called… Read more »