financial – Tech Today w/ Ken May

Ubuntu 17.10 Temporarily Pulled Due To A BIOS Corrupting Problem

An anonymous reader writes: Canonical has temporarily pulled the download links for Ubuntu 17.10 “Artful Aardvark” from the Ubuntu website due to ongoing reports of some laptops finding their BIOS corrupted after installing this latest Ubuntu release. The issue is appearing most frequently with Lenovo laptops but there are also reports of issues with other laptop vendors as well. This issue appears to stem from the Intel SPI driver in the 17.10’s Linux 4.13 kernel corrupting the BIOS for a select number of laptop motherboards. Canonical is aware of this issue and is planning to disable the Intel SPI drivers in their kernel builds. Canonical’s hardware enablement team has already verified this works around the problem, but doesn’t provide any benefit if your BIOS is already corrupted. Read more of this story at Slashdot.

One of Australia’s Richest Men Lost $1 Million To Email Scam

Kaye Wiggins, reporting for Bloomberg: The multi-millionaire founder of Twynam Agricultural Group lost $1 million in an email fraud, a London court heard Thursday. The British man who facilitated the theft says he’s a victim too. John Kahlbetzer, who is on the Forbes list of the 50 richest Australians, lost the money when fraudsters tricked the administrator of his personal finances into transferring it to them, his court papers say. Fraudsters emailed Christine Campbell, pretending to be the 87-year-old and asking her to pay $1 million to an account held by a British man, David Aldridge, which she did. Kahlbetzer is suing Aldridge to recover the funds, but Aldridge says he was being “unwittingly used” and was himself the victim of a fraud involving a woman he met online and believed he was in a loving relationship with. Email frauds where companies’ staff are tricked into transferring money are a growing problem. U.S. Federal Bureau of Investigation statistics show “business email compromise” cases, where criminals ask company officials to transfer funds, have cost more than $3 billion since 2015. Read more of this story at Slashdot.

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One of Australia’s Richest Men Lost $1 Million To Email Scam

Boeing 757 Testing Shows Airplanes Vulnerable To Hacking, DHS Says

schwit1 shares a report from Aviation Today: A team of government, industry and academic officials successfully demonstrated that a commercial aircraft could be remotely hacked in a non-laboratory setting last year, a DHS official said Wednesday at the 2017 CyberSat Summit in Tysons Corner, Virginia. “We got the airplane on Sept. 19, 2016. Two days later, I was successful in accomplishing a remote, non-cooperative, penetration. [Which] means I didn’t have anybody touching the airplane, I didn’t have an insider threat. I stood off using typical stuff that could get through security and we were able to establish a presence on the systems of the aircraft.” Hickey said the details of the hack and the work his team are doing are classified, but said they accessed the aircraft’s systems through radio frequency communications, adding that, based on the RF configuration of most aircraft, “you can come to grips pretty quickly where we went” on the aircraft. Patching avionics subsystem on every aircraft when a vulnerability is discovered is cost prohibitive, Hickey said. The cost to change one line of code on a piece of avionics equipment is $1 million, and it takes a year to implement. For Southwest Airlines, whose fleet is based on Boeing’s 737, it would “bankrupt” them. Hickey said newer models of 737s and other aircraft, like Boeing’s 787 and the Airbus Group A350, have been designed with security in mind, but that legacy aircraft, which make up more than 90% of the commercial planes in the sky, don’t have these protections. Read more of this story at Slashdot.

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Boeing 757 Testing Shows Airplanes Vulnerable To Hacking, DHS Says

Equifax Has Been Sending Consumers To a Fake Phishing Site for Almost Two Weeks

An anonymous reader shares a Gizmodo report (condensed for space): For nearly two weeks, the company’s official Twitter account has been directing users to a fake lookalike website. After announcing the breach, Equifax directed its customers to equifaxsecurity2017.com, a website where they can enroll in identity theft protection services and find updates about how Equifax is handing the “cybersecurity incident.” But the decision to create “equifaxsecurity2017” in the first place was monumentally stupid. The URL is long and it doesn’t look very official — that means it’s going to be very easy to emulate. To illustrate how idiotic Equifax’s decision was, developer Nick Sweeting created a fake website of his own: securityequifax2017.com. (He simply switched the words “security” and “equifax” around.) As if to demonstrate Sweeting’s point, Equifax appears to have been itself duped by the fake URL. The company has directed users to Sweeting’s fake site sporadically over the past two weeks. Gizmodo found eight tweets containing the fake URL dating back to September 9th. Read more of this story at Slashdot.

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Equifax Has Been Sending Consumers To a Fake Phishing Site for Almost Two Weeks

Google Drive Faces Outage, Users Report [Update]

Numerous Slashdot readers are reporting that they are facing issues access Google Drive, the productivity suite from the Mountain View-based company. Google’s dashboard confirms that Drive is facing outage. Third-party web monitoring tool DownDetector also reports thousands of similar complaints from users. The company said, “Google Drive service has already been restored for some users, and we expect a resolution for all users in the near future. Please note this time frame is an estimate and may change. Google Drive is not loading files and results in a failures for a subset of users.” Update: 09/07 17:13 GMT: Google says it has resolved the issue. Read more of this story at Slashdot.

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Google Drive Faces Outage, Users Report [Update]

60,000 Germans Evacuate While Officials Try To Defuse a WWII Bomb

More than 70 years ago the UK’s Royal Air Force dropped an 1, 100-pound bomb on Germany. They just found it. An anonymous reader quotes ABC: Residents in two German cities are evacuating their homes as authorities prepare to dispose of World War II-era bombs found during construction work this week. About 21, 000 people have been ordered to leave their homes and workplaces in the western city of Koblenz as a precaution before specialists attempt to defuse the 500-kilogram bomb on Saturday afternoon (local time). Among those moved to safety are prison inmates and hospital patients. Officials in the financial capital Frankfurt, meanwhile, are carrying out what is described as Germany’s biggest evacuation. Frankfurt city officials have said more than 60, 000 residents will have to leave their homes for at least 12 hours. Failure to defuse the bomb could cause a big enough explosion to flatten a city block, a fire department official said. “This bomb has more than 1.4 tonnes of explosives, ” Frankfurt fire chief Reinhard Ries said. “It’s not just fragments that are the problem, but also the pressure that it creates that would dismantle all the buildings in a 100-metre radius”… Police will ring every doorbell and use helicopters with heat-sensing cameras to make sure nobody is left behind before they start diffusing the bomb. Reuters notes that every year Germany discovers more than 2, 000 tons of live bombs and munitions, adding “In July, a kindergarten was evacuated after teachers discovered an unexploded World War Two bomb on a shelf among some toys.” Read more of this story at Slashdot.

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60,000 Germans Evacuate While Officials Try To Defuse a WWII Bomb

Online Critics Decry Even More Wells Fargo Fraud Scandals

On Saturday author/blogger Cory Doctorow launched a new barrage of criticism towards Wells Fargo: It’s been a whole day since we learned about another example of systematic, widespread fraud by America’s largest bank Wells Fargo (ripping off small merchants with credit card fees), so it’s definitely time to learn about another one: scamming mortgage borrowers out of $43/month for an unrequested and pointless “home warranty service” from American Home Shield, a billion-dollar scam-factory that considers you a customer if you throw away its junk-mail instead of ticking the “no” box and sending it back. $43/month gets you pretty much nothing: people who tried to actually use their AHS insurance found it impossible to get them to actually do anything in exchange for this money. Here’s a quick Wells Fargo fraud scorecard: stealing thousand of cars with fraudulent repos; defrauding mortgage borrowers; blackballing whistelblowers; creating 2, 000, 000+ fraudulent accounts, and stealing millions with fraudulent fees and penalties. Life Pro Tip: if you don’t like banks, join a credit union. Read more of this story at Slashdot.

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Online Critics Decry Even More Wells Fargo Fraud Scandals

Former Epix exec pleads guilty over $7 million fraud

In 2009, Viacom, Lionsgate and MGM joined forces to launch a premium movie channel called Epix, with Emil Rensing as its Chief Digital Officer. Turns out hiring Rensing was a bad move: according to the Justice Department , he has just pleaded guilty to defrauding the network $7 million over his five-year employment with the company. The former exec apparently used his position to forge contracts between the network and vendor companies he himself owned and controlled. He then used the names of business associates and acquaintances as vendor personnel, setting up fake email accounts for each one of them to make them look legit. Rensing would apparently use those dummy accounts to pose as the people whose identities he stole in order to communicate with the network about payment. The vendors never performed the services they promised, though, and the real people behind the names had no idea what the exec was doing. Acting US Attorney Joon H. Kim said in a statement: “Emil Rensing, an executive at a premium cable network, defrauded his employer out of more than $7 million by causing the network to pay companies Rensing controlled for services that were never rendered. To conceal his role in the payments, Rensing used false and stolen identities and dummy email accounts. I want to thank the FBI for their work to hold Rensing accountable for his crimes.” A few months ago, Rensing pleaded not guilty to embezzling $8.5 million — people familiar with the matter said part of that amount is likely made up of legitimate expenses. He has changed his plea now that the amount is down to $7 million, admitting guilt to one count of wire fraud, which could lead to a maximum sentence of 20 years in prison and three years of supervised release. It was probably the best course of action for him, since his deal with prosecutors didn’t require him to plead guilty to aggravated identity theft, as well. According to Variety , Rensing is far from the only entertainment executive who got tempted by all the millions thrown around in the industry. The publication says the industry is “ripe for thievery” since media companies have grown so big in recent years, overwhelming their financial departments. As a result, questionable transactions take years to discover, if they’re even discovered at all. Source: Reuters , US Department of Justice

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Former Epix exec pleads guilty over $7 million fraud

Bitcoin Price Hits Fresh Record High Above $2,200

An anonymous reader writes: Monday marks the seven-year anniversary of Bitcoin Pizza Day — the moment a programmer named Laszlo Hanyecz spent 10, 000 bitcoin on two Papa John’s pizzas. More important than the episode being widely recognized as the first transaction using the cryptocurrency is what it tells us about the bitcoin rally that saw it break through the $2, 100 mark on Monday. Bitcoin was trading as high as $2, 185.89 in the early hours of Monday morning, hitting a fresh record high, after first powering through the $2, 000 barrier over the weekend, according to CoinDesk data. Throughout the weekend, the value of cryptocurrency was looming around $2, 000. Read more of this story at Slashdot.

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Bitcoin Price Hits Fresh Record High Above $2,200

Up To 1.4M More Fake Wells Fargo Accounts Possible

An anonymous reader quotes the Bay Area Newsgroup: Wells Fargo may have opened as many as 3.5 million bogus bank accounts without its customers’ permission, attorneys for customers suing the bank have alleged in a court filing, suggesting the bank may have created far more fake accounts than previously indicated. The plaintiffs’ new estimate of bogus bank accounts is about 1.4 million, or 67%, higher than the original estimate — disclosed last year as part of a settlement with regulators — that up to 2.1 million accounts were opened without customers’ permission… The attorneys covered a period from 2002 to 2017, rather than the previously scrutinized five-year stretch from 2011 to some time in 2016 in which the bank acknowledged setting up unauthorized accounts. Wells Fargo terminated 5, 300 employees for creating fake accounts, and their CEO now acknowledges that “we had an incentive program and a high-pressure sales culture within our community bank that drove behavior that many times was inappropriate and inconsistent with our values.” In a possibly-related story, Wells Fargo plans to shut 450 branches over the next two years. Read more of this story at Slashdot.

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Up To 1.4M More Fake Wells Fargo Accounts Possible