Chase Building 1/2 Billion Dollar Data Center

The enthusiastic backer of Enron and serial over charger of  mortgage payers, JPMorgan Chase has just splashed out on a new $500 million data center.

CEO Jamie Dimon announced the move which practically everyone in the IT industry finds a bit strange. While Chase is the US’s largest bank, the new facilities are a little big by anyone’s standard. It is about the same about of money that Google and Microsoft in their largest data centres for their cloud networks.

Dimon cited the figure as one of the advantages of being a big size. It can afford to invest cash in this way. Size lets Chase build a $500 million data centre that speeds up transactions and invest billions of dollars in products like ATMs and apps that allow your iPhone to deposit cheques, he enthused.

JPMorgan Chase operates two large data centres in Delaware and a 400,000 square foot facility. It also acquired data centres in its deals for distressed rivals Bear Stearns and Washington Mutual in the early days of the 2008 financial crisis. So why it needs a huge new one is anyone’s guess.

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Cisco Lends A Hand In Fighting Fraud

Cisco released an API at the Interop 2012 Conference this week for its branch routers designed to enable third-party developers to write applications to beef up the security of phone calls over the router network.

The Cisco UC Gateway Services API is a Web-based programming interface that allows customers and developers access to call information over a Cisco ISR G2 router at the edge of a voice network, such as signaling and media. This information can be used to detect and help prevent malicious activity such as social engineering and identity theft scams, contact center account takeover fraud, unauthorized network and service use, and denial-of-service attacks.

Applications written to the API can then apply appropriate action to terminate, redirect or record the call.

Cisco, citing data from the Communications Fraud Control Association, says global telecom fraud losses are estimated to be $40 billion annually.

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Verizon Introduces HSN For Financial Firms

Verizon on Wednesday launched a new low-latency network for financial services firms that can complete a stock transaction between New York and Chicago in as little as 14.5 milliseconds.

The new Verizon Financial Network Premier Low-Latency Service shaves as much as 5 milliseconds off the company’s current offering, a change that can translate into millions of dollars for high-frequency traders.

The new service, which becomes part of the Verizon Financial Network, uses higher performance networking technology from Ciena and takes the shortest possible path between the two metropolitan areas, according to Verizon.

Verizon is targeting the service to global banks, hedge funds, pre- and post-trade service firms and money managers who use high-performance computing algorithms and networks for speedy transactions.

High-frequency trading firms require low-latency networks to execute arbitrage transactions and algorithmic trading with minimal delay. Fiber distance between trading locations introduces latency, as does the equipment used to light the fiber.

Verizon plans on expanding the new high-speed network to other U.S. markets later this year.

CME Group, a financial derivatives marketplace, plans to use the new Verizon service in its Aurora, Ill., data and colocation center to enable companies in Chicago and New York to trade on CME Group’s platforms and more quickly exchange market data.

“We’re creating a secure, reliable high-speed path along one of the busiest financial trading routes,” Chandan Sharma, managing director of Verizon’s financial vertical markets, said in a statement.

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Samsung Making Ultra MicroSD Card

Samsung Electronics has started mass producing a microSD card that uses an Ultra High Speed-1 (UHS-1) interface to greatly improve data transfer speeds, the company said in an announcement on Wednesday.

The microSD HC card stores up to 16GB and has a maximum sequential read speed of 80MBps (megabytes per second), according to internal tests conducted by Samsung. That is more than four times the read speed of today’s advanced microSD cards, which have speeds up to 21MBps, Samsung said.

What real-world speeds that will translate into remains to be seen. The card will be a good fit for LTE smartphones and tablets, according to Samsung.

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RIM Goes Non-BlackBerry

Research In Motion on Tuesday launched software that will allow its large “enterprise” customers to manage Apple and other rival devices through the same servers as they use for the BlackBerry smartphone and Playbook tablet.

The new Mobile Fusion software, first announced in November, is an acknowledgement of sorts by RIM of a growing preference by many users inside big corporations and government to access professional communications over their personal devices, often the Apple iPhone or iPad, or devices running Google’s Android.

RIM, which long dominated the so-called enterprise market, has watched the BlackBerry’s market share steadily erode in recent years. Unable to arrest the trend, the company now aims to generate a fresh revenue stream from it. Mobile Fusion will cost $99 per user to license and $4 per user a month, with discounts available for bulk orders.

In a second announcement on Tuesday that highlights RIM’s eroding market position, it said its PlayBook tablet now boasts 15,000 applications – still just a tiny fraction of the number available on the iPad. One of the biggest complaints about RIM’s products is the dearth of content and applications.

A recent survey from Appcelerator and IDC showed less than 16 percent of developers were “very interested” in creating programs for RIM, compared with 90 percent for Apple and 80 percent for Android.

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Remote Access Tools Threatens Smartphones

Malware tools that allow attackers to gain complete remote control of smartphones have become a major threat to owners around the world, security researchers say.

In a demonstration at the RSA Conference 2012 here Wednesday, former McAfee executives George Kurtz and Dmitri Alperovitch, who recently founded security firm CrowdStrike, installed a remote access tool on an Android 2.2-powered smartphone by taking advantage of an unpatched flaw in WebKit, the default browser in the OS.

The researchers showed an overflow audience how the malware can be delivered on a smartphone via an innocuous looking SMS message and then be used to intercept and record phone conversations, capture video, steal text messages, track dialed numbers and pinpoint a user’s physical location.

The tools used in the attack were obtained from easily available underground sources, Kurtz said. The WebKit bug, for instance, was one of 20 tools purchased from hackers for a collective $1,400.

The remote access Trojan used in the attack was a modified version of Nickispy a well-known Chinese malware tool.

Learning how to exploit the WebKit vulnerability and to modify the Trojan for the attack, was harder than expected, said Kurtz. He estimated that CrowdStrike spent about $14,000 in all to develop the attack.

But the key issue is that similar attacks are possible against any smartphone, not just those running Android, he said.

WebKit for instance, is widely used as a default browser in other mobile operating systems including Apple’s iOS and the BlackBerry Tablet OS. WebKit is also is used in Apple’s Safari and Google’s Chrome browsers.

Several mobile remote access Trojans are already openly available from companies pitching them as tools that can be used to surreptitiously keep tabs on others.

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Did Google Bypass Privacy Rules?

In the wake of reports that Google had circumvented privacy settings in Apple’s Safari browser, Microsoft announced today it had discovered that the Web giant had done the same with Internet Explorer.

“When the IE team heard that Google had bypassed user privacy settings on Safari, we asked ourselves a simple question: is Google circumventing the privacy preferences of Internet Explorer users too?” IE executive Dean Hachamovitch wrote in a blog post this morning. “We’ve discovered the answer is yes: Google is employing similar methods to get around the default privacy protections in IE and track IE users with cookies.”

The blog post, which details Microsoft’s findings and offers privacy protection tips, said it has contacted Google about its concerns and asked it to “commit to honoring P3P privacy settings for users of all browsers.”

Google countered that Microsoft backs a system that is dated and impractical.

“It is well known–including by Microsoft–that it is impractical to comply with Microsoft’s request while providing modern Web functionality,” Rachel Whetstone, senior vice president of communications and policy for Google, said in a statement to CNET this evening. “We have been open about our approach, as have many other Web sites.”

P3P, or Platform for Privacy Preferences, is an official recommendation of the World Wide Web Consortium that sites use to summarize their privacy policies.

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Can Hackers Attack A Trains Network?

Security expert Professor Stefan Katzenbeisser of Technische Universität Darmstadt told a security conference in Berlin that the GSM-R which is being installed in train networks makes them vulnerable to hackers.

Katzenbeisser said that the new system was vulnerable to “Denial of Service” attacks and, while trains could not crash, service could be disrupted for quite some time. Speaking to the Chaos Communication Congress he said that Network Rail is currently installing GSM-R across the British railway network.

It uses the similar technical standards to 2G mobile networks and is due to replace older signalling technology in southern England next year, and throughout the whole country in 2014. But train switching systems, which enable trains to be guided from one track to another at a railway junction, have historically been separate from the online world. If they were connected to the internet as they are in GSM-R they could be hit by Denial of Service attacks.

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at&t Vows To Continue Quest

AT&T Inc plans to forge ahead with its deal to acquire Deutsche Telekom’s U.S. wireless unit despite regulatory opposition, and it has the financial resources to close the acquisition quickly, a top executive said on Wednesday.

“We continue to move forward with our efforts to complete the T-Mobile transaction…and we will continue to pursue the sale,” AT&T Chief Financial Officer John Stephens said at the UBS media conference in New York.

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Yahoo Messenger Flaw Exposed

An unpatched Yahoo Messenger vulnerability that allows hackers to change people’s status messages and possibly perform other unauthorized functons can be exploited to spam malicious links to a large number of users.

The flaw was discovered in the wild by security researchers from antivirus vendor BitDefender while investigating a customer’s report about unusual Yahoo Messenger behavior.

The flaw appears to be located in the application’s file transfer API (application programming interface) and allows attackers to send malformed requests that result in the execution of commands without any interaction from victims.

“An attacker can write a script in less than 50 lines of code to malform the message sent via the YIM protocol to the attacker,” said Bogdan Botezatu, an e-threats analysis & communication specialist at BitDefender.

“Status changing appears to be only one of the things the attacker can abuse. We’re currently investigating what other things they may achieve,” he added.

Victims are unlikely to realize that their status messages have changed and if they use version 11.5 of Yahoo Messenger, which supports tabbed conversations, they might not even spot the rogue requests, Botezatu said.

This vulnerability can be leveraged by attackers to earn money through affiliate marketing schemes by driving traffic to certain websites or to spam malicious links that point to drive-by download pages.

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