Category: Uncategorized

Cybersecurity, Uncategorized

Pinduoduo – One of China’s most popular apps has the ability to spy on its users, say experts – CNN

Colin Henderson

– presence of malware is on the Pinduoduo app that exploited vulnerabilities in Android operating systems. It is one of China’s most popular shopping apps, selling clothing, groceries and just about everything else under the sun to more than 750 million users a month. But according to cybersecurity researchers, it can also bypass users’ cell phone security to monitor activities on other apps, check notifications, read private messages and change settings. And once installed, it’s tough to remove. While many apps collect vast troves of user data, sometimes without explicit consent, experts say e-commerce giant Pinduoduo has taken violations of … Continue reading Pinduoduo – One of China’s most popular apps has the ability to spy on its users, say experts – CNN

Uncategorized

German Police Raid DDoS dark web offering for cybercriminals

Colin Henderson

Reporting by KrebsOnSecurity Authorities in Germany this week seized Internet servers that powered FlyHosting, a dark web offering that catered to cybercriminals operating DDoS-for-hire services, KrebsOnSecurity has learned. FlyHosting first advertised on cybercrime forums in November 2022, saying it was a Germany-based hosting firm that was open for business to anyone looking for a reliable place to host malware, botnet controllers, or DDoS-for-hire infrastructure. A seizure notice left on the FlyHosting domains. A statement released today by the German Federal Criminal Police Office says they served eight search warrants on March 30, and identified five individuals aged 16-24 suspected of … Continue reading German Police Raid DDoS dark web offering for cybercriminals

Uncategorized

Bloomberg report the latest statistics on exodus of liquid cash into Money Market Funds.

Colin Henderson

This post is intended to discuss root causes of the funds shift to Money Market Funds and the impact on the banking system risk. The storyline here is following the SVB and Banking cries began, there is reduced faith in smaller Banks for deposits and better rates available in Money Market Funds. Money Markey funds offered by large institutions and are offsetting the drop in deposits sitting with smaller banks. This is a systemic shift driven by risk appetite and rates offered. But it leaves open the question of how Money Market Funds (MMF) are investing their money to generate … Continue reading Bloomberg report the latest statistics on exodus of liquid cash into Money Market Funds.

Uncategorized

Binance hid extensive links to China for several years

Colin Henderson

Binance hid extensive links to China for several years As predicted yesterday the investigation of Finance will uncover new and potentially illegal activity. Binance hid substantial links to China for several years, contradicting executives’ claims that the crypto exchange left the country after a clampdown on the industry in late 2017, according to internal company documents seen by the Financial Times. Aside from peoples views on China and the American approach to China, there are rules which require companies adherence and it looks like Binance are in contravention. Next prediction: could this be the next Crypto financial shock and what … Continue reading Binance hid extensive links to China for several years

Uncategorized

Crypto exchange Binance accused by CFTC of illegally serving US clients

Colin Henderson

Finance is the largest crypto exchange. It is domiciled in the Cayman Islands. Their customers are predominantly American according to the US regulator CFTC, and as such are bound by registration and regulatory requirements under US law. This will be a battle. Given the reaction from Binance it leaves me wondering if the case will show up other regulatory matters. Step by step Crypto are losing what they see as their independence but most non crypto see it for what it is – protection from nefarious conduct, mixing customer funds on the balance sheet to achieve synergies of funds access … Continue reading Crypto exchange Binance accused by CFTC of illegally serving US clients

Uncategorized

Hypothesis: Can we lever banking regulation to enhance innovation in support of Open Banking

Colin Henderson

I am working on a white paper which had its origins making the case for a comprehensive Open Banking offer but I am running Into a challenge and basically got stuck. My mission for the white paper originally arose from quotes and comments captured in earlier posts on bankwatch.ca: The consumer impact is noticeably absent. The Road Map is technical in nature. The API design and approach are well documented and targeted but the consumer is absent. BACKGROUND ANALYSIS The successes to date reflect building to Open Banking standards but primarily for digital processes already used by consumers; primarily payments. … Continue reading Hypothesis: Can we lever banking regulation to enhance innovation in support of Open Banking

Uncategorized

Israel’s judicial overhaul delayed after mass protests and strikes

Colin Henderson

By Helen Regan, Adam Renton, Rob Picheta, Ed Upright and Aditi Sangal, CNN Updated 1:26 p.m. ET, March 27, 2023 Latest status: Israel’s judicial overhaul legislation will be put on hold until the next session of the Knesset, after the Passover recess in April, National Security Minister Itamar Ben Gvir’s Jewish Power party said in a statement Monday. Background: The statement comes as parts of Israel have been brought to a standstill after the country’s largest trade union federation announced a “historic” strike Monday to protest the plan. Workers from multiple sectors have joined the strike, shutting down transportation, universities, … Continue reading Israel’s judicial overhaul delayed after mass protests and strikes