Sign up for our Technology Newsletter 
Intel Sheds McAfee
Intel has sold the Intel Security business for $3.5bn less than it paid for it six years ago.
Intel Security, previously and better known as McAfee, has been sold to private equity firm TPG for $4.2bn, despite Intel paying $7.7bn for it in 2010.
The chip firm will receive $3.1bn in cash as part of the transaction and retain a 49 per cent minority stake. TPG will take control with a 51 per cent stake, and will invest $1.1bn in the company.
Intel Security is based on the McAfee business and was renamed two years ago. The company will revert to the better known McAfee brand, despite John McAfee reportedly suing Intel over the use of his name.
The transaction is expected to close in the second quarter of 2017, and Chris Young, general manager of Intel Security Group, will become CEO of McAfee.
Young described TPG in an open letter to stakeholders as a “seasoned technology investor” that was “attracted to our current momentum and long-term potential”.
He claimed that McAfee currently protects “more than a quarter of a billion endpoints” and more than 200 million consumers, and is present in two thirds of the world’s 2,000 largest companies.
Intel CEO Brian Krzanich claimed that, despite the sale, security “remains important in everything we do at Intel”.
“We will continue to integrate industry-leading security and privacy capabilities in our products from the cloud to billions of smart, connected computing devices,” he added.
Bryan Taylor, a partner at TPG, said that the company had “long identified the cyber security sector, which has experienced strong growth due to the increasing volume and severity of cyber attacks, as one of the most important areas in technology”.
Intel’s acquisition of McAfee Security in 2010 was intended to enable the company to beef up security around PCs and sell McAfee antivirus and other security software around its core business.
However, the combination never worked as the money to be made in the security business became increasingly focused on the data center and cloud computing.
Courtesy-TheInq
CVS Debuts CVS Pay
August 24, 2016 by admin
Filed under Around The Net
Comments Off on CVS Debuts CVS Pay
CVS has rolled out its CVS Pay program that exists inside its mobile app. It allows customers to pay in store for prescriptions by scanning a barcode at the register.
Payments will be backed by a customer’s credit or debit card, the company said.
CVS Pay is currently available in New York, New Jersey, Pennsylvania and Delaware; a nationwide rollout at all 9,600 stores is expected to kick off later this year.
CVS doesn’t support Apple Pay or other NFC-based payment technologies, and its use of barcodes for payments is reminiscent of the way Starbucks customers pay for coffee. Working with the barcode technology was a faster way for CVS to bring forward technology for more convenient in-store payments, analysts said.
Other retailers have created in-store payments through their own apps. Walmart created Walmart Pay in December to allow payments through mobile device QR codes that can be read at checkout registers.
“There’s nothing really innovative here with CVS Pay,” said Gartner analyst Avivah Litan on Friday. “They are pretty much following the trend. It’s just mobile commerce with a credit card attached. It’s no big deal to put a credit card in a wallet.”
At one point, CVS was working with Walmart and dozens of other major retailers in the Merchant Customer Exchange, which was designed to process mobile payments electronically through bank accounts and not credit cards to cut out the card processing cost that merchants paid to banks. But MCX ended its pilot of its mobile app, CurrentC, in June. Analysts have predicted the concept will not continue.
Source-http://www.thegurureview.net/mobile-category/cvs-debuts-cvs-pay.html
Was The Omni Hotel Chain Hacked?
Omni Hotels & Resorts has reported that point-of-sale systems at some of its hotel locations were attacked by malware targeting payment card information.
The hacking of the systems of the luxury hotel chain follows similar breaches of point-of-sale systems at various hotels and retailers like Hyatt Hotels, Target, Starwood Hotels & Resorts Worldwide and Hilton Worldwide Holdings.
Omni — in Dallas, Texas — said in a statement Friday that on May 30 this year, it discovered it was hit by malware attacks on its network, affecting specific POS systems on-site at some of its properties. “The malware was designed to collect certain payment card information, including cardholder name, credit/debit card number, security code and expiration date,” Omni said. There isn’t evidence that other customer information, such as contact information, Social Security numbers or PINs, was compromised, it added.
The chain did not disclose how many of its 60 properties were affected and the likely number of cardholders that could have been affected. As there is no indication that reservation or select guest membership systems were affected, users were unlikely to be affected unless they physically presented their payment card at a POS system at one of the affected locations. The malware may have been in operation between Dec. 23 last year and June 14 this year, although most of the systems were affected during a shorter timeframe, according to the hotel.
The hotel chain, which operates hotels and resorts in the U.S., Canada and Mexico, could not be immediately reached for comment over the weekend for further details.
Omni said after discovering the malware attack, it had immediately hired IT investigation and security firms and has now contained the intrusion. It did not specify why it had delayed to inform customers.
Courtesy-http://www.thegurureview.net/aroundnet-category/omni-hotels-reports-hacking.html
Is Intel Going To Dump McAfee
Intel has run out of ideas about what it is going to do with it its security business and is apparently planning to flog it off.
Five years ago Intel bought McAfee for $7.7bn acquisition. Two years ago it re-branded it as Intel Security. There was talk about chip based security and how important this would be as the world moved to the Internet of Things.
Now the company has discussed the future of Intel Security with bankers, including potentially the outfit. The semiconductor company has been shifting its focus to higher-growth areas, such as chips for data center machines and Internet-connected devices, as the personal-computer market has declined.
The security sector has seen a lot of interest from private equity buyers. Symantec said earlier this month it was acquiring Web security provider Blue Coat for $4.65 billion in cash, in a deal that will see Silver Lake, an investor in Symantec, enhancing its investment in the merged company, and Bain Capital, majority shareholder in Blue Coat, reinvesting $750 million in the business through convertible notes.
However Intel’s move into the Internet of Things does make it difficult for it to exit the security business completely. In fact some analysts think it will only sell of part of the business and keep some key bits for itself.
Courtesy-Fud
Web.com Latest Hacking Victim
Hackers gain unauthorized access to the computers of Internet services provider Web.com Group and stole credit card information of 93,000 customers.
According to a website set up by the company to share information about the incident, Web.com discovered the security breach on Aug. 13 as part of its ongoing security monitoring.
Attackers compromised credit card information for around 93,000 accounts, as well as the names and addresses associated with them. No other customer information like social security
numbers was affected, the company said.
According to the company, the verification codes for the exposed credit cards were not leaked. However, there are websites on the Internet that don’t require such codes for purchases.
Web.com has notified affected customers via email and will also follow up with letters sent through the U.S. Postal Service. Those users can sign up for a one-year free credit monitoring service.
The company did not specify how the intruders gained access to its systems, but has hired a “nationally recognized” IT security firm to conduct an investigation.
Web.com provides a variety of online services, including website and Facebook page design, e-commerce and marketing solutions, domain registration and Web hosting. The company claims to have over 3.3 million customers and owns two other well known Web services companies: Register.com and Network Solutions.
Register.com and Network Solutions customers were not impacted by this breach unless they also purchased services directly from Web.com.
Source-http://www.thegurureview.net/aroundnet-category/web-com-latest-victim-of-credit-card-hacking.html
USAA Exploring Bitcoins
May 20, 2015 by admin
Filed under Around The Net
Comments Off on USAA Exploring Bitcoins
USAA, a San Antonio, Texas-based financial institution serving current and former members of the military, is researching the underlying technology behind the digital currency bitcoin to help make its operations more efficient, a company executive said.
Alex Marquez, managing director of corporate development at USAA, said in an interview that the company and its banking, insurance, and investment management subsidiaries hoped the “blockchain” technology could help decentralize its operations such as the back office.
He said USAA had a large team researching the potential of the blockchain, an open ledger of a digital currency’s transactions, viewed as bitcoin’s main technological innovation. It lets users make payments anonymously, instantly, and without government regulation.
The blockchain ledger is accessible to all users of bitcoin, a virtual currency created through a computer “mining” process that uses millions of calculations. Bitcoin has no ties to a central bank and is viewed as an alternative to paying for goods and services with credit cards.
“We have serious interest in the blockchain and we think the technology would have an impact on the organization,” said Marquez. “The fact that we have such a large group of people working on this shows how serious we are about the potential of this technology.”
USAA, which provides banking, insurance and other products to 10.7 million current or former members of the military, owns and manages assets of about $213 billion.
Marquez said USAA had no plans to dabble in the bitcoin as a currency. Its foray into the blockchain reflects a trend among banking institutions trying to integrate bitcoin technology into their systems. BNY Mellon and UBS have announced initiatives to explore the blockchain technology.
Most large banks are testing the blockchain internally, said David Johnston, managing director at Dapps Venture Fund in San Antonio, Texas. “All of the banks are going through that process of trying to understand how this technology is going to evolve.”
“I would say that by the end of the year, most will have solidified a blockchain technology strategy, how the bank is going to implement and how it will move the technology forward.”
USAA is still in early stages of its research and has yet to identify how it will implement the technology.
In January this year, USAA invested in Coinbase, the biggest bitcoin company, which runs a host of services, including an exchange and a wallet, which is how bitcoins are stored by users online.
Medical Data Becoming Valuable To Hackers
Comments Off on Medical Data Becoming Valuable To Hackers
The personal information stored in health care records fetches increasingly impressive sums on underground markets, making any company that stores such data a very attractive target for attackers.
“Hackers will go after anyone with health care information,” said John Pescatore, director of emerging security trends at the SANS Institute, adding that in recent years hackers have increasingly set their sights on EHRs (electronic health records).
With medical data, “there’s a bunch of ways you can turn that into cash,” he said. For example, Social Security numbers and mailing addresses can be used to apply for credit cards or get around corporate antifraud measures.
This could explain why attackers have recently targeted U.S. health insurance providers. Last Tuesday, Premera Blue Cross disclosed that the personal details of 11 million customers had been exposed in a hack that was discovered in January. Last month, Anthem, another health insurance provider, said that 78.8 million customer and employee records were accessed in an attack.
Both attacks exposed similar data, including names, Social Security numbers, birth dates, telephone numbers, member identification numbers, email addresses and mailing addresses. In the Premera breach, medical claims information was also accessed.
If the attackers try to monetize this information, the payout could prove lucrative.
Credentials that include Social Security numbers can sell for a couple of hundred dollars since the data’s lifetime is much longer compared to pilfered credit card numbers, said Matt Little, vice president of product development at PKWARE, an encryption software company with clients that include health care providers. Credit card numbers, which go for a few dollars, tend to work only for a handful of days after being reported stolen.
Target Settles Security Breach
Target is reportedly close to paying out $10m to settle a class-action case that was filed after it was hacked and stripped of tens of millions of peoples’ details.
Target was smacked by hackers in 2013 in a massive cyber-thwack on its stores and servers that put some 70 million people’s personal information in harm’s way.
The hack has had massive repercussions. People are losing faith in industry and its ability to store their personal data, and the Target incident is a very good example of why people are right to worry.
As well as tarnishing Target’s reputation, the attack also led to a $162m gap in its financial spreadsheets.
The firm apologized to its punters when it revealed the hack, and chairman, CEO and president Gregg Steinhafel said he was sorry that they have had to “endure” such a thing
Now, according to reports, Target is willing to fork out another $10m to put things right, offering the money as a proposed settlement in one of several class-action lawsuits the company is facing. If accepted, the settlement could see affected parties awarded some $10,000 for their troubles.
We have asked Target to either confirm or comment on this, and are waiting for a response. For now we have an official statement at Reuters to turn to. There we see Target spokeswoman Molly Snyder confirming that something is happening but not mentioning the 10 and six zeroes.
“We are pleased to see the process moving forward and look forward to its resolution,” she said.
Not available to comment, not that we asked, will be the firm’s CIO at the time of the hack. Thirty-year Target veteran Beth Jacob left her role in the aftermath of the attack, and a replacement was immediately sought.
“To ensure that Target is well positioned following the data breach we suffered last year, we are undertaking an overhaul of our information security and compliance structure and practices at Target,” said Steinhafel then.
“As a first step in this effort, Target will be conducting an external search for an interim CIO who can help guide Target through this transformation.”
“Transformational change” pro Bob DeRodes took on the role in May last year and immediately began saying the right things.
“I look forward to helping shape information technology and data security at Target in the days and months ahead,” he said.
“It is clear to me that Target is an organization that is committed to doing whatever it takes to do right by their guests.”
We would ask Steinhafel for his verdict on DeRodes so far and the $10m settlement, but would you believe it, he’s not at Target anymore either having left in the summer last year with a reported $61m golden parachute.
Anthem Gets Hacked
Health insurer Anthem Inc, which has nearly 40 million U.S. customers, has confirmed that hackers had breached one of its IT systems and stolen personal information relating to current and former consumers and employees.
The No. 2 health insurer in the United States said the breach did not appear to involve medical information or financial details such as credit card or bank account numbers.
The information accessed during the “very sophisticated attack” did include names, birthdays, social security numbers, street addresses, email addresses and employment information, including income data, the company said.
Anthem said that it immediately made every effort to close the security vulnerability and reported the attack to the FBI. Cybersecurity firm FireEye Inc FEYE. said it had been hired to help Anthem investigate the attack.
The company did not say how many customers and staff were affected, but the Wall Street Journal earlier reported it was suspected that records of tens of millions of people had been taken, which would likely make it the largest data breach involving a U.S. health insurer.
Anthem had 37.5 million medical members as of the end of December.
“This attack is another reminder of the persistent threats we face, and the need for Congress to take aggressive action to remove legal barriers for sharing cyber threat information,” U.S. Rep. Michael McCaul, a Republican from Texas and chairman of the Committee on Homeland Security, said in a statement late Wednesday.
McAfee’s Biometric Software Coming Soon
Comments Off on McAfee’s Biometric Software Coming Soon
A McAfee security product that will use biometric technology to authenticate users will be available for download by the end of the year, said Kirk Skaugen, senior vice president and general manager of the PC Client Group at Intel, last week.
“Your biometrics basically eliminate the need for you to enter passwords for Windows log in and eventually all your websites ever again,” Skaugen said.
Further product details were not immediately available. But one of the major inconveniences in using PCs and tablets is remembering passwords, which biometrics can tame.
An average user has about 18 passwords and biometric authentication will make PCs easier to use, Skaugen said.
Biometric authentication isn’t new. It’s being used in Apple Pay, where fingerprint authentication helps authorize credit card payments through the iPhone or iPad. Intel has been working on multiple forms of biometric authentication through fingerprint, gesture, face and voice recognition.
McAfee is owned by Intel, and the chip maker is building smartphone, tablet and PC technology that takes advantage of the security software. Intel has also worked on biometric technology for wearable devices like SMS Audio’s BioSport In-Ear Headphones, which can measure a person’s heart rate.
Intel also wants to make PCs and tablets easier to use through wireless charging, display, docking and data transfers. Such capabilities would eliminate the need to carry power brick and cables for displays and data transfers. Such capabilities will start appearing in laptops next year with sixth-generation Core chips code-named Skylake, which will be released in the second half.