Tag Archive for: Regulation

Government and industry push bitcoin regulation to fight ransomware


Government and industry officials confronting an epidemic of ransomware, where hackers freeze the computers of a target and demand a payoff, are zeroing in on cryptocurrency regulation as the key to combating the scourge, sources familiar with the work of a public-private task force said.

In a report on Thursday, the panel of experts is expected to call for far more aggressive tracking of bitcoin and other cryptocurrencies. While those have won greater acceptance among investors over the past year, they remain the lifeblood of ransomware operators and other criminals who face little risk of prosecution in much of the world.

Ransomware gangs collected almost $350 million last year, up threefold from 2019, two members of the task force wrote this week. Companies, government agencies, hospitals and school systems are among the victims of ransomware groups, some of which U.S. officials say have friendly relations with nation-states including North Korea and Russia.

“There’s a lot more that can be done to constrain the abuse of these pretty amazing technologies,” said Philip Reiner, chief executive of the Institute for Security and Technology, who led the Ransomware Task Force. He declined to comment on the report before its release.

Just a week ago, the U.S. Department of Justice established a government group on ransomware. Central bank regulators and financial crime investigators worldwide are also debating if and how cryptocurrencies should be regulated.

The new rules proposed by the public-private panel, some of which would need Congressional action, are mostly aimed at piercing the anonymity of cryptocurrency transactions, the sources said. If implemented, they could temper enthusiasm among those who see the cryptocurrencies as a refuge from national monetary policies and government oversight of individuals’ financial activities, having surged past $1 trillion in total capitalization.

The task force included representatives from the FBI and the United States Secret Service as well as major tech and security companies. It will recommend steps such as extending “know-your-customer” regulations to currency exchanges; imposing tougher licensing requirements for those processing…

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Biometrics Experts and New Study Highlight How Behavioral Biometrics Supports Strict Regulation and Offers Better Data Privacy Protections



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New report from Biometrics expert, Goode Intelligence draws insights from BehavioSec and law firm Osborne Clarke to analyze how behavioral biometrics technology can be successfully implemented in compliance with GDPR, CCPA, and similar regulations

SAN FRANCISCO–(BUSINESS WIRE)–
BehavioSec, the industry pioneer and technology leader for behavioral biometrics and continuous authentication, today announced new findings that organizations and consumers can feel more comfortable with wider use of behavioral biometrics to safeguard their online digital experiences and identities.

Following a year of digital transformation on a societal level, the demand for better online user experience and a stronger level of digital identity protection has become essential. With a year when the world has seen a combination of personal data theft with new rulings and proposed legislation, like the EU Schrems II in July 2020 and the US National Biometrics Information Privacy Act in August [US Senators Merkley, D-OR and Sanders, I-VT], the need for expert guidance has never been higher. BehavioSec shares this research and a company milestone to highlight how behavioral biometrics can be adopted transparently with clear benefits, and in compliant fashion with comprehensive data protection laws. These include measures like the European General Data Protection Regulation (GDPR), the European Commission’s PSD2/SCA and its Open Banking mandate, the US California Consumer Privacy Act (CCPA) and similar, anticipated requirements of regulations proposed in other regions.

To validate the safe use of behavioral biometrics at a time when headlines are full of allegations about technologies like facial recognition and “deep fake” simulations being abused, BehavioSec sponsored the report, “2021 Global Data Privacy Regulation of Physical & Behavioral Biometrics” by respected industry research firm Goode Intelligence. In the report, Chief Analyst Alan Goode dives into the relevance of current and proposed global privacy and data protection legislation on the successful and…

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Data breach notification under e-privacy directive and General Data Protection Regulation – Lexology

Data breach notification under e-privacy directive and General Data Protection Regulation  Lexology
“data breach” – read more

The Fate Of EU Legislation Designed To Bolster Data Protection Beyond The GDPR, The ePrivacy Regulation, Hangs In The Balance

Whatever your views on the EU’s General Data Protection Regulation (GDPR), there is no denying the impact it has had on privacy around the world. Where the GDPR deals with personal data stored “at rest”, the proposed ePrivacy Regulation deals with with personal data “in motion” — that is, how it is gathered and flows across networks. As Techdirt discussed two years ago, the pushback from Internet companies and the advertising industry against increased consumer protection in this area has been unprecedented. Some details were provided at the time in a report from the Corporate Europe Observatory. Unfortunately, that massive lobbying has paid off. Good ideas in the draft text produced by the European Parliament, like banning encryption backdoors or “cookie walls”, have been dropped, as has the right of Internet users to refuse to accept tracking cookies. In the most recent version of the text (pdf) put together under the Austrian Presidency of the Council of the European Union (one of the three EU institutions that has to agree on the final law), there’s even a new bad idea:

In some cases the use of processing and storage capabilities of terminal equipment and the collection of information from end-users’ terminal equipment may also be necessary for providing an information society service, requested by the end-user, such as services provided to safeguard freedom of expression and information including for journalistic purposes, such as online newspaper or other press publications…that is wholly or mainly financed by advertising provided that, in addition, the end-user has been provided with clear, precise and user-friendly information about the purposes of cookies or similar techniques and has accepted such use

This section would give the news publishing industry a special right, enshrined in the ePrivacy Regulation, to use tracking cookies to support advertising, even though the original impetus behind the new law was to stop precisely this kind of obligatory commercial surveillance. Following its lobbyists’ success in obtaining a special link tax included in the awful EU Copyright Directive, this latest legal privilege is further testament to the power of the publishing industry in the EU.

Judging by the most recent draft text, the ePrivacy Regulation has been almost completely gutted of any strong protections for Internet users. And yet it seems even what little remains is too much for some EU member states, as a story on Euractiv reports:

The European Commission will present a revised ePrivacy proposal as part of the forthcoming Croatian Presidency of the EU, Internal Market Commissioner Thierry Breton announced on Tuesday (3 December), after previous talks failed to produce an agreement among member states.

The revamped measures will be made in a bid to find consensus between EU countries on the ePrivacy regulation which would see tech companies offering messaging and email services subjected to the same privacy rules as telecommunications providers.

Although the new Internal Market Commissioner Breton is quoted as saying: “You can count on me to find consensus between each of us”, others are not so sure. Some now believe that the entire ePrivacy Regulation will be dropped as being too hard to fix. That would be an incredible waste of years of work, a missed opportunity — and a huge victory for the lobbyists.

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