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Russia Fines Facebook $47 Over Citizens' Data Privacy Dispute

Russia Fines Facebook $47 Over Citizens' Data Privacy Dispute

Apr 12, 2019
Yes, you read that right! Russia has fined Facebook with 3,000 rubles, roughly $47, for not complying with the country's controversial Data Localization law. It's bizarre and unbelievable, but true. In December last year, Russian Internet watchdog Roskomnadzor sent notifications to Twitter and Facebook asking them to provide information about the location of servers that store the personal data of its citizens. Roskomnadzor – also known as the Federal Service for Supervision in the Sphere of Telecom, Information Technologies, and Mass Communications – is Russian telecommunications watchdog that runs a huge blacklist of websites banned in Russia. Though the social media platforms had one month to reply, they choose not to disclose this information, as a result of which Moscow's Tagansky District Court imposed 3,000 rubles fine on Twitter last week and the same on Facebook today. The fine is the minimum that Russian courts can impose on companies for violatin
Russia Threatens to Ban Telegram Messaging App, Says It Was Used By Terrorists

Russia Threatens to Ban Telegram Messaging App, Says It Was Used By Terrorists

Jun 26, 2017
Russia has threatened to ban Telegram end-to-end encrypted messaging app, after Pavel Durov, its founder, refused to sign up to the country's new data protection laws. Russian intelligence service, the FSB, said on Monday that the terrorists that killed 15 people in Saint Petersburg in April had used the Telegram encrypted messaging service to plot their attacks. According to the new Russian Data Protection Laws, as of January 1, all foreign tech companies have been required to store the past six months' of the personal data of its citizens and encryption keys within the country; which the company has to share with the authorities on demand. "There is one demand, and it is simple: to fill in a form with information on the company that controls Telegram," Alexander Zharov said, head of communications regulator Roskomnadzor (state communications watchdog). "And to officially send it to Roskomnadzor to include this data in the registry of organizers of d
Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Feb 14, 2024Financial Security / Cyber Threats
The landscape of cybersecurity in financial services is undergoing a rapid transformation. Cybercriminals are exploiting advanced technologies and methodologies, making traditional security measures obsolete. The challenges are compounded for community banks that must safeguard sensitive financial data against the same level of sophisticated threats as larger institutions, but often with more limited resources. The FinServ Threat Landscape Recent trends show an alarming increase in sophisticated cyber-attacks. Cybercriminals now deploy advanced techniques like deep fake technology and AI-powered attacks, making it increasingly difficult for banks to differentiate between legitimate and malicious activities. These developments necessitate a shift towards more sophisticated and adaptive cybersecurity measures. Take these industry statistics, for example. Financial firms report 703 cyberattack attempts per week.1 On average, 270 attacks (entailing unauthorized access of data, appl
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