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Telecom operators sat back as the new over-the-top (OTT) service providers, internet and tech companies slowly ate away at their business, particularly in the B2C space. A combination of institutional laziness and poor execution on promising initiatives gave these new entrants the time to jump in and snatch away customers…Telecom operators have an opportunity to rethink their business model, transform their organization, and execute on competitive ideas. This is especially true in the B2B space where telecom operators can use their existing infrastructure to offer premium network solutions for large enterprises, particularly when it comes to the Internet of Things (IoT)…Telecom operators are close enough to take a bite out of the IoT market. What they’re missing are the teeth and the determination. While the legacy tools and procedures exist to allow telecom operators to be the leading providers of IoT services and security solutions, it will take an organizational shift to make such a strategy successful. By doing this, telecom operators will not only make money, they’ll secure their future in the presence of ambitious OTT competitors.
Privacy and Smart Cities
In the 60s cartoon The Jetsons, the family lived in a futuristic city with flying cars, a robotic housekeeper, and even a watch that let you do video calling. The Jetsons city of the future is with us in the here and now as we have the technology to build smart cities, and in doing so, we can create amazing places to live and work. This idea of making our cities smart is engaging clever minds all over the world and we are witnessing the emergence of smart places across the globe. All of the visions of smart city projects have one thing in common. They are based upon the creation of, analysis of, and processing of, large amounts of data — aka integrated data exchanges, all predicated on hyper-connectivity achieved often through Internet-enabled devices. These data are the sights and sounds of the processes we use to live and work in municipalities…
Diversity
The topic of diversity is not one that most people find in their comfort zone. As I wrote in a previous article on diversity, increasing diversity often engenders frustration in those tasked with accomplishing it, and inspires eye rolls among diversity-fatigued employees who have heard countless reports on management’s diversity goals, but remain unconvinced of diversity’s value. Can anything be done to make diversity less of an uncomfortable topic? The answer is no. Nothing about diversity will ever make it into the general business population’s comfort zone. I say that not out of cynicism, but out of practicality. At its root, diversity is uncomfortable. But, surprisingly, the discomfort it creates is what makes it so valuable…
Hong Kong FinTech
The global financial services sector is accelerating its transformation in response to changing values and shifting consumer preferences… A new breed of financial technology companies, known as FinTech, has emerged. FinTech has taken advantage of these changing preferences and advances in technology to innovate and to try and disintermediate incumbent providers by developing alternative platforms for financial activities. FinTech-driven disruption in financial services has been brewing for a while and it looks like 2017 will be the year the disruption becomes tangible… Hong Kong, with its position as a global financial centre and with its own rapidly growing millennial workforce, is starting to take the fight for its FinTech future seriously. PwC’s 2nd Global FinTech Survey shows that the vast majority of financial institutions in Hong Kong have decided on their FinTech strategy and kick-started a number of initiatives. While the degree of interest in FinTech is unmistakable, Hong Kong is approaching it in its own way…
Cyber-Kinetic Security Book
(This is the draft second chapter of my upcoming book Cyber-Kinetic Attacks) The fact that cyber-kinetic attacks rarely appear on mainstream news doesn’t mean they don’t happen. They happen more frequently than you would think. Many, for various reasons, aren’t even reported to agencies charged with combatting them. This hinders security experts in understanding the full scope and recognizing the trends in this growing problem. We’ll highlight examples of cyber-kinetic incidents and attacks in this chapter. Some were malfunctions that, nonetheless, demonstrated cyber-physical system vulnerabilities. Some were collateral damage from hacking or computer viruses. The vulnerabilities these exposed inspired a growing number of targeted cyber-kinetic attacks in recent years. If nothing else, the attacks described in this chapter demonstrate that the threat of cyberattacks on critical systems are not hypothetical. They occur increasingly...
Timeline of Key Cyber-Kinetic Attacks, Incidents and Research
Below is a timeline of over 50 historic cyber-kinetic attacks, system malfunctions and key researcher demos targeting cyber-physical systems (CPS), Internet of Things (IoT) and Industrial Control Systems (ICS) resulting in kinetic impacts in the physical world. I tried to select only those that were first-of-the-kind or that significantly increased general awareness about a particular type of an attack or incident.
Cyber-Kinetic Security Book
(This is the first chapter of my upcoming book Cyber-Kinetic Attacks) We live in a world in which the way we observe and control it is radically changing. Increasingly, we interact with physical objects through the filter of what computational systems embedded in them tell us, and we adjust them based on what those systems relate. We do this on our phones, in our cars, in our homes, in our factories and, increasingly, in our cities. Physical objects are so interconnected that we simply take those connections for granted, as if being able to unlock your car by pushing a button on your key fob, unlocking it with your phone or even by walking toward it is the way car locks always worked. This interconnectedness offers us capabilities that exponentially exceed the expectations of science fiction writers and futurists of past generations. But it also introduces disquieting possibilities. Those possibilities reach beyond cyberspace to threaten the physical world in which we live and – potentially – our own physical well-being.
Western publications often picture the People’s Democratic Republic of China (hereafter China) as the world’s chief propagator of cyberattacks. But the picture is much more complex than such broad-brush claims suggest. Few Westerners realize that China and its neighbours in the Greater China region (Taiwan, Macau and Hong Kong) have, over last few years, became the most technologically advanced region in the world – ahead of the West in the adoption, and in many cases even in the development of advanced technologies. Countries in the region were always close to the top of the list of victims of cyberattacks. Factors, such as internal hacktivism and cybercrime perpetrated by the rapidly growing technologically savvy segment of the population and their legion of wannabe hacker apprentices have propelled cyberattacks on the region firmly to the top of that list. Rapid adoption of new technologies without adequately addressing cybersecurity issues only exacerbates the problem. The Greater China region has adopted these technologies aggressively. Yet, in their rush to adoption, enterprises in the region have largely lagged the rest of the world in addressing cybersecurity.
You may have heard, over the last year or two, about the new technological miracle that is the blockchain. It seems that every banker, insurer, manufacturer, artist, lawyer and cybersecurity professional is shouting about blockchain from the highest peak and telling us how it will be used to secure everything against anything for all time, additionally removing those embarrassing blemishes from our skin and freshening our breath at the same time. Clearly some large portion of the blockchain-related content we see in the media is hyperbolic, at best, but it is an important technology nonetheless. Let's take a look at some of the realities of what we can and cannot do with blockchain in relation to cybersecurity.
The worlds of financial crime and cybercrime are colliding, converging into one. The biggest threat to businesses globally is the new cyber-enabled financial crime. Yet businesses and even financial institutions tasked with protecting our money continue to fight this combined threat with multiple separate defense systems and multiple separate defense teams… That is the environment that currently threatens financial institutions in their war against financial crimes, fraud and cyberattack. Financial crime and cybercrime increasingly merge. Yet counter-financial crime teams and cybersecurity teams largely remain unconnected. How have we gotten here? And what can be done to meet this new challenge?
(This is a guest post by Mojca Ivezic) How would you picture those who work to prevent weapons of mass destruction (WMD) from falling into the wrong hands? Would you picture them heavily armed and with a military bearing? Then you might be surprised. Although such individuals sometimes fight the spread...
(This is a guest post by Mojca Ivezic) Terrorist funding detection has been practiced the same way as money laundering detection ever since Counter Terrorism Funding (CTF) initiatives were added to Anti–Money Laundering (AML) efforts after 9/11. Although the two have similarities on the surface, a deeper look reveals more...