Fed Contractor Arrested For Software Theft

Bo Zhang worked at the bank and took advantage of his position to commit the crime, according to prosecutors, and was arrested yesterday by the FBI and the Treasury Department.

“As today’s case demonstrates, our cyber infrastructure is vulnerable not only to cybercriminals and hackers, but also alleged thieves like Bo Zhang who used his position as a contract employee to steal government intellectual property,” said Manhattan US Attorney Preet Bharara.

“Fighting cyber crime is one of the top priorities of this office and we will aggressively pursue anyone who puts our computer security at risk.”

A complaint against Zhang has been unsealed and according to that he pilfered the Government-Wide Accounting and Reporting Program code by copying it to a hard drive owned by the Federal Reserve Bank of New York.

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Yahoo Wins Major Lawsuit

Yahoo has achieved a big victory against spammers, a legal victory that also includes a default judgment of $610 million.

In the lawsuit, filed in May 2008, Yahoo targeted a variety of individuals and companies, accusing them of trying to defraud people via a spam campaign that falsely informed email recipients that they had won prizes in a non-existent Yahoo-sponsored lottery.

Yahoo alleged that the defendants’ goal was to trick email recipients into providing them with personal and financial information that could be used to commit fraud by raiding victims’ bank accounts, using their credit cards and applying for loans on their behalf.

Judge Laura Taylor Swain from the U.S. District Court for the Southern District of New York ruled that Yahoo’s allegations are “uncontroverted” and said the company is entitled to $27 million in statutory damages for trademark infringement and $583 million in statutory damages for violation of the CAN-SPAM Act.

It’s not clear whether Yahoo will be able to collect the money. A default judgment is rendered when defendants in a case fail to plead or defend an action, as happened in this case, in which the defendants never responded to Yahoo’s complaint.

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SEC Asks Companies To Disclose Attacks

U.S. securities regulators formally asked public companies for the first time to disclose cyber attacks against them, following a trend of high-profile cyber crimes.

The Securities and Exchange Commission issued guidelines on Thursday that laid out the kind of information companies should disclose, such as cyber events that could lead to financial losses.

Senator John Rockefeller had asked the SEC to issue guidelines amid concern that it was becoming hard for investors to assess security risks if companies failed to mention data breaches in their public filings.

“Intellectual property worth billions of dollars has been stolen by cyber criminals, and investors have been kept completely in the dark. This guidance changes everything,” Rockefeller said in a statement.

“It will allow the market to evaluate companies in part based on their ability to keep their networks secure. We want an informed market and informed consumers, and this is how we do it,” Rockefeller said in a statement.

There is a growing sense of urgency about cyber security following breaches at Google Inc, Lockheed Martin Corp, the Pentagon’s No. 1 supplier, Citigroup, the International Monetary Fund and others.

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Will AOL Merge With Yahoo?

AOL is trying to engineer a merger with Yahoo in order to lower costs.

AOL’s CEO Tom Armstrong reportedly has been working hard to generate support from shareholders for a deal with Yahoo. According to Reuters, Armstrong is presenting the deal as an alternative to going it alone as an internet media company in order to reap cost and advertising reach benefits.

Apparently Armstrong is claiming that a merger with Yahoo, which itself is at the centre of acquisition rumours, would bring in savings of between $1bn and $1.5bn by combining datacentres and consolidating content on areas such as news, sports, entertainment and finance.

Since AOL was spun out of its disastrous merger with Time Warner, the firm has been trying to remake itself into an internet media company by buying popular websites such as The Huffington Post and Techcrunch. While many question whether that is a workable plan, the financials can’t mask the deep trouble AOL is in, with the company reporting a $11.8m loss for the second quarter.

While talk of AOL being bought up has cooled considerably in the last few months, the firm still has a few worthwhile assets. According to Reuters’ sources, shareholders like the idea of merging with Yahoo but are not convinced that Armstrong can pull it off.

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Microsoft Goes After Yahoo

Just three years after a failed attempt to acquire Yahoo, Microsoft may be considering whether to give it another shot, Reuters reported today.

According to the report, Microsoft executives are split on whether the company should bid for Yahoo. A final decision has not been reached, the report noted.

Citing an unnamed “high-ranking Microsoft executive,” the report said Microsoft is evaluating whether to pull in a partner for a joint effort to buy Yahoo.

Microsoft said it doesn’t comment on rumors or speculation. Yahoo didn’t respond to a request for comment on the report.

“As long as Microsoft is committed to growing its online presence, this makes sense,” said Ezra Gottheil, an analyst with Technology Business Research. “Yahoo has a large number of subscribers and regular visitors, many of whom are not considering going elsewhere. And that would be a good boost for Microsoft.”

He also noted that Yahoo Mail, Yahoo’s popular free email service, would combine well with Microsoft’s own Hotmail service to create a very large base of email users.

In 2008, Microsoft tried to acquire Yahoo. Yahoo’s argument that the bid was tool low prompted Microsoft to finally give up.

Since then, Yahoo has been dealing with some significant problems.

No longer the high-flying Internet pioneer of its heyday, Yahoo last month fired Carol Bartz, who had joined the company as CEO with high hopes that she could return the company to its past glory.

Once Bartz was out the door, industry analysts began speculating that Yahoo’s board might be open to a solid acquisition offer.

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BlackBerry Falls Behind In Workplace

More workers use iPhone and Android smartphones combined than BlackBerry devices, according to a survey of 1,681 U.S.-based workers released today by Forrester Research.

That finding highlights what many have known for a while about the entrenched workplace smartphone veteran: the BlackBerry faces trouble from its competitors.

The BlackBerry, made by Research in Motion, still leads among U.S. workers, with 42%, the survey said, with Apple’s iPhone accounting for 22% and Android devices, 26%.

The survey also found that nearly half, or 48% of the group, said that they chose the primary smartphone used for their work without considering what their company supports. Only 29% said they chose the smartphone from a list of phones the company supports, while 23% said they had no choice in the matter.

Often, corporate IT shops will choose BlackBerry smartphones when requiring a worker to use a specific smartphone, partly because of the perceived security benefits, many analysts, including at Forrester, have found. The growth in Android phones and the iPhone — many of them brought to workplaces by workers independently — are forcing IT shops to rethink that decision, however.

Ted Schadler, a Forrester analyst, said the survey points to two major trends. The first is that more workers than ever are bringing consumer-focused devices, such as Android and iPhone smartphones, to use for work, and more companies are supporting those devices.

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IMs To Overtake Emails In Workplace

Many CIOs predict that real-time communication technologies, such as instant messaging, SharePoint, Chatter and Yammer will outpace traditional email in the workplace in the next five years.

That’s the conclusion of a Robert Half Technology survey of more than 1,400 CIOs at U.S. companies with more than 100 employees. The survey was published last month.

More than half (54%) of the CIOs polled said real-time workplace communication tools will surpass traditional email in popularity within five years. The prediction was a bit lukewarm, however: 13% of the respondents said real-time messages will be “much more popular” than email, while 41% said they’ll be “somewhat more popular.”

Robert Half Technology, an IT staffing firm, said a transition to real-time tools could yield workplace benefits, potentially making it easier to work as a team, solve problems, share ideas and manage documents.

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Microsoft: Stolen SSL Certs No Good

Microsoft has officially stated that a digital certificate stolen from a Dutch company could not be used to force-feed customers malware through its Windows Update service.

The company’s assertion came after a massive theft of more than 500 SSL (secure socket layer) certificates, including several that could be used to impersonate Microsoft’s update services, was revealed by Dutch authorities and several other affected developers.

“Attackers are not able to leverage a fraudulent Windows Update certificate to install malware via the Windows Update servers,” said Jonathan Ness, an engineer with the Microsoft Security Response Center (MSRC), in a Sunday blog post. “The Windows Update client will only install binary payloads signed by the actual Microsoft root certificate, which is issued
and secured by Microsoft.”

Seven of the 531 certificates now known to have been fraudulently obtained by hackers in July were for the domains update.microsoft.com and windowsupdate.com, while another six were for *.microsoft.com.

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The First PC Had a Birthday

The year was 1981 and IBM introduced its IBM PC model 5150 on August 12th, 30 years ago today.

The first IBM PC wasn’t much by today’s standards. It had an Intel 8088 processor that ran at the blazing speed of 4.77MHz. The base memory configuration was all of 16kB expandable all the way up to 256kB, and it had two 5-1/4in, 160kB capacity floppy disk drives but no hard drive.

A keyboard and 12in monochrome monitor were included, with a colour monitor optional. The 5150 ran IBM BASIC in ROM and came with a PC-DOS boot diskette put out by a previously unknown startup software company based out of Seattle named Microsoft.

IBM priced its initial IBM PC at a whopping $1,565, and that was a relatively steep price in those days, worth about $5,000 today, give or take a few hundred dollars. In the US in 1981 that was about the cost of a decent used car.

Because the IBM PC was meant to be sold to the general public but IBM didn’t have any retail stores, the company sold it through US catalogue retailer Sears & Roebuck stores.

Subsequently IBM released follow-on models through 1986 including the PC/XT, the first with an internal hard drive; the PC/AT with an 80286 chip running at 6MHz then 8MHz; the 6MHz XT/286 with zero wait-state memory that was actually faster than the 8MHz PC/AT and (not very) Portable and Convertible models; as well as the ill-fated XT/370, AT/370, 3270 PC and 3270/AT mainframe terminal emulators, plus the unsuccessful PC Jr.

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AMD Not Chasing Smartphone Market

Advanced Micro Devices is not immediately pursuing opportunities within the smartphone markets as it does not align with the company’s strength in technologies like graphics, an executive said on Monday.

Smartphones are constrained on battery, pixels and screen space, and AMD has other areas it can focus on in order to grow, said Rick Bergman, senior vice president and general manager for AMD’s product group during the Pacific Crest Securities Technology Leadership Forum in Vail, Colorado. The company sees an opportunity to apply its graphics and chip technologies to tablets, where customers are demanding better video and battery life.

“We haven’t announced any plans to go in that handheld space. We’ve got plenty of opportunities… in server, notebook and now tablets, that’s our immediate focus. But if the right circumstances come up and we can see a way to impact the market, we’ll obviously continue to look,” Bergman said.

AMD has faced criticism for not aggressively pursuing the booming smartphone or tablet markets. The company in June rushed to release its first dedicated tablet chip, called the Z-series. The chip is a low-power variant of PC chips based on the Fusion microarchitecture, which includes a graphics processor and CPU on a single chip. Based on the x86 architecture, the chip can help tablets deliver a full PC and graphics experience, the company has said.

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