The Stroz Friedberg Cyber Brief

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MONDAY, JUNE 27, 2016
Bangladesh's central bank will reportedly not extend its contract with U.S. cybersecurity firm FireEye to finish the investigation of the online theft of $81 million last February--the largest cyber heist in history. Bank sources told Reuters last week that the company’s high price tag was one of the factors in its decision. Sources said FireEye had been paid some $280,000 for about 700 hours of work, and had asked for close to 600 hours of additional work to complete its inquiry. However, the bank may still hire external experts to advise it on cybersecurity. (Reuters)
UK Trader: The SEC has sued a 30-year-old UK man, Idris Dayo Mustapha, in Manhattan federal court for allegedly hacking into brokerage accounts of several U.S. investors and placing unauthorized stock trades. (Reuters)

Digital Privacy: A Virginia federal judge ruled that the FBI did not need a search warrant to hack a suspect's computer during an investigation into a large child porn website. The judge compared the FBI’s hacking method in this case to a police officer looking through someone's broken window blinds, which the Supreme Court has said is legal. (Reuters)

Celebrity Hacker: U.S. prosecutors in New Jersey charged a 35-year-old Filipino man, Peter Locsin, with running a large and sophisticated scheme to breach the bank and credit card accounts of unidentified, well-known customers. (Reuters)
U.S.-EU Data Sharing: Officials in Washington and Brussels have agreed to changes to a data transfer pact that is central to transatlantic business. The revised EU-U.S. Privacy Shield was sent for review by European member states, which are expected to hold a vote in early July. (Reuters)

Drone Regs: Industry analysts say that new federal rules permitting routine commercial drone flights also establish legal precedents that could affect an array of future air safety regulations. The long-awaited drone rules govern low-altitude, daylight flights of aircraft weighing less than 55 pounds, but open the door for industry to seek a range of waivers. (WSJ)
Social Media: Google and Facebook are reportedly among the social media sites deploying automated systems to block or rapidly take down Islamic State videos and other extremist material. Most companies have thus far relied mainly on users to flag content that violates their terms of service, and many still do. (Reuters)

Self-Driving Cars: Programmers of car operating systems are grappling with a range of prickly ethical questions, analysts say, particularly concerning situations where, in the case of a potential accident, vehicles must choose to either save the life of a passenger or a pedestrian. (NYT)

Intel: The Silicon Valley chipmaker has reportedly been talking to bankers about the future of its cybersecurity unit in a deal that would be one of the largest in the sector. Intel bought the antivirus software maker McAfee for more than $7 billion almost six years ago. (FT)
Brexit: Many in the UK seem not to have fully understood some of the fundamental issues at stake in the historic referendum. Shortly after the ballot measure, Google reported sharp increases in searches looking for basic answers about the vote’s consequences, like "what happens if we leave the EU"? (WaPo)

Saudi Arabia: Mohammed bin Salman, the powerful young prince behind modernizing reforms in the Arab country, presented himself as the champion of his nation's plugged-in youth in a visit to Silicon Valley last week. (Reuters)

Egypt: A steady stream of social media is helping to encourage teenage boys from the country to flee to Europe. Egypt does not suffer from a civil war or debilitating poverty like some other countries sending migrants, but its weak economy and a proliferation of smuggling networks are contributing factors, analysts say. (NYT)

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How an Archive of the Internet Could Change History: “We now get a kaleidoscopic view of events as they unfold, often in real time, on our screens and devices. History is not neutral or synonymous with truth, but the internet affords us a newfound vantage on the totality of passing time--the profound implications of which we are just now beginning to grasp,” writes Jenna Wortham in the New York Times magazine.

A Megaupload Programmer Tells His Story: “When he built up the Mega advertising platform Megaclick and the video hosting service Megavideo, Nõmm earned as much as $10,000 a month—more than he could've ever imagined as a child. But when US authorities came after the entire Megaupload operation, suddenly he found himself in the middle of the world's most sensational criminal copyright infringement scandal,” writes Toivo Tänavsuu in Ars Technica.

Reboot the Internet: “The internet was once a highly decentralized system. In the earliest days, there were no large corporations or service providers like Ashley Madison or Facebook or Twitter, or behemoth databases to house your information. If you wanted to join up, you plugged in a computer and found a connection through a service provider, and that was basically it. You were online. Your computer was a “peer” of the other computers. It was a computocracy,” writes Paul Ford in the New Republic.
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