It doesn’t have to be a hack, poor management is enough.
Nordstrom
shares slide over credit card screw-up
During its third quarter earnings call Thursday,
Nordstrom said it had to refund $72 million to some credit card users
because it accidentally charged them a higher interest rate. The
admission sparked a sell-off Friday, sending the stock down more than
12%.
… Nordstrom's quarterly profit fell 42%
because of the credit card refunds. The company said if it wasn't
for the screw-up, its earnings would have been "slightly ahead"
of its expectations. Sales grew 3%.
The Seattle-based company's recent
shift into digital is still paying off. Digital sales grew 20%
year-to-date and its website now makes up 30% of its overall
business.
Another example of the use of GDPR to force
companies into compliance, short of a 4% or revenue fine. “You did
it wrong, now do it over!”
Kristof Van Quathem and Anna Oberschelp de Meneses
of Covington & Burling write:
On November 9, 2018, the French Supervisory Authority for Data Protection (known as the “CNIL”) announced that it issued a formal warning (available here) ordering the company Vectaury to change its consent experience for customers and purge all data collected on the basis of invalid consent previously obtained.
Vectaury is an advertising network that buys online advertising space on behalf of its customers (advertisers). The company also offers a software tool that advertisers can integrate into their apps to collect geolocation data and information on the device and browser of users.
Read more on Inside
Privacy.
For our discussion of “(in)security by design.”
Many ATMs
Can be Hacked in Minutes: Report
… According
to the study,
85% of the ATMs that were analyzed are vulnerable to network-level
attacks as means to fraudulently dispense the cash inside. With
access to the network to which the machine is connected, an attacker
would only need about 15 minutes to compromise the machine, the
security researchers say.
The
report also shows that 27% of the tested ATMs were vulnerable to the
spoofing of processing center, an attack scenario where the
connection to the processing center is not properly secured, allowing
the attacker to manipulate
(Related)
There have been many unsecured databases on AWS recently. This may
help, if users take advantage.
AWS rolls
out new security feature to prevent accidental S3 data leaks
… Starting today, AWS account owners will have
access to four new options inside their S3 dashboards under the
"Public access settings for this account" section.
These four new options allow the account owner to
set a default access
setting for all of an account's S3 buckets. These new
account-level settings will override
any existing or newly created bucket-level ACLs (access control
lists) and policies.
… the
new settings are meant to work as a master switch that prevents
account owners or their employees/developers from accidentally
opening S3 buckets and their data to the public by coding or
misconfiguration errors at the app/bucket level.
This is not a new type of crime. You give the
“kidnappers” all the information they need on social media.
Olympic
swimmer Rowdy Gaines said scammers pretended to hold his daughter
hostage
Olympic swimmer Rowdy Gaines is issuing a warning
after his family almost became victims of a virtual kidnapping scam
when they received a disturbing phone call from a stranger saying his
daughter was being held hostage.
… Virtual kidnapping scams have been around
for almost two decades. FBI Los Angeles Special Agent Erik Arbuthnot
said in a 2017 report
that it started happening more in the United States in 2015 and
scammers typically choose various cities and will then cold-call
"hundreds of numbers until innocent people fell for the scheme."
Perspective.
Why Ford Is
Getting Into The Scooter Business
… Ford is buying electric scooter company
Spin.
Ford and Spin won't confirm the price tag, but
reports put the purchase price at $100 million and an overall
investment from Ford of $200
million.
… Automakers are trying to broaden their
business — to become "mobility"
companies rather than just selling cars.
… This wasn't Ford's first foray into scooters
and bikes. The automaker funded a project at
Purdue University that brought 40 scooters to the West Lafayette,
Ind., campus. Ford sponsors GoBike, which offers rentals of regular
and electric bikes in the San
Francisco Bay Area. Ford also sells its own
licensed brand electric scooter through a
company called Ojo. The scooters go for about $2,200.
… Another reason fueling Ford's purchase of
Spin goes back to the way tech companies make money: collecting
personal information, Drury says.
"This is a deal that makes sense because
[Ford] will acquire data," he says. "Acquiring and knowing
how people are utilizing other modes of transportation in addition to
the ones that they already have."
Perspective. #2 is eBay, #5 is Home Depot.
Walmart
passes Apple to become No. 3 online retailer in U.S.
Walmart has
overtaken Apple to become the No. 3 online retailer in the U.S.,
according to a report this week from eMarketer.
While Amazon still leads
by a wide margin, accounting for 48 percent of e-commerce
sales in 2018, Walmart – including also Sam’s Club and Jet.com –
is poised to capture 4
percent of all online retail spending in the U.S. by
year-end, totaling $20.91 billion.
Apropos of nothing, I think this is an interesting
idea.
Pirate
Studios raises $20M from Talis Capital for its ‘self-service’
tech-enabled music studios
Pirate
Studios, the music technology company that operates fully
automated and self-service 24 hour music studios, has
secured $20 million. The investment was led by Talis Capital, the
London-based VC family office.
… what really sets Pirate Studios apart from a
lot of existing rehearsal rooms and music production and recording
studios, is that the startup is employing a lot of tech to power the
logistics around its service and, in theory, make it a lot more
scalable. This includes online booking, 24 hour keycode access, and
other IoT controls for managing facilities.
… in just three years, Pirate has grown to 350
studios in 21 locations, including London, New York, and Berlin.
Sounds like my students.
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