It’s touted to be as disruptive as the internet was when that came on the scene. Blockchain is the technology that gained notoriety for powering Bitcoin; ensuring that the crypto currency was not spent more than once. A hot topic, for sure, but what is it?
Isn’t it just a distributed version of Google Docs?
A simple way to look at the technology is that it’s a global Peer-2-Peer network and timestamping database that tracks all transactions which anyone with internet access can use.
In today’s OTT world, pay-media operators continually modify their business models to find the sweet spot; what resonates best with their consumers. Unfortunately, the same is true with cybercriminals. For them, the introduction of account generator sites is at the heart of this evolution.
No longer limited to the DarkNet
In an earlier blog, I explained how compromised account details are regularly being sold on the DarkNet. However, in the last few months the Irdeto cyber-services team has witnessed a change.
The EU Payment Service Directive (PSD2) aims to enhance consumer security, increase competition and create a single EU-wide market for payments. No doubt this market disruptive initiative opens the door for innovation. But will PSD2 inadvertently introduce more vulnerability for the cybercriminals to exploit?
Achieving its aims all hinges on the banks sharing their customer data with anyone that holds the required license. This third party access to accounts (XS2A) ensures that banks cannot block the move to a new payment services market.
Browser security isn’t a new problem. Apple, Google, Microsoft and Mozilla have put a huge amount of effort into enabling consumers to have a secure browsing experience. But who’s thinking about the web site operators and their secure browsing experience?
Internet trust is dependent on certification authorities; with TLS/SSL being the most commonly used technology for securing electronic commerce transactions online. It’s all about enabling the consumer to access web services and be reasonably confident they know who they are talking to.
There’s no doubt about it, cyber-attacks are increasing. A consequence of this is a rise in cybersecurity litigation. Interestingly, that litigation may not necessarily be directed against the cybercriminals. Instead, it is likely to be another threat that the breached company has to deal with.
Just as cyber-attacks are generating publicity, so too are the subsequent litigation activities. What makes them newsworthy seems to be the dollar amount.
The Internet has transformed how businesses operate today. Never before has so much been done online. The dark side to this connectivity is that the threat of cybercrime is increasing and becoming more professional. It’s no longer a case of if you will fall victim to a cyber-attack but when. Are you ready?
No business is immune
It’s not just Irdeto’s cyber-services team which is witnessing a growing concern about cyber-attack threats.