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Six steps to protecting data in financial services companies

Secure vault

There is no shortage of news headlines about companies falling victim to cyber breaches and the astounding costs associated with them. According to the IBM Cost of a Data Breach Report 2023, the global average cost of a data breach in 2023 was $4.45 million, a 15 percent increase since 2020. For the financial services industry, the cost is even higher at $5.9 million per breach; that is 28 percent above the global average. 

In addition to the higher price tag associated with a cyber breach, companies within the financial industry must also adhere to evolving compliance regulations that dictate how they respond to an attack and where they must invest to reduce the total risk.

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Migrating to the cloud: The key to business scalability, flexibility and cost-effectiveness 

Whenever a new technology hits the business mainstream, key decision makers try to figure out how it can be incorporated into their existing workflows. This is driven by the need to stay on the cutting edge and not lose out to competitors, as well as the goal of constantly improving efficiency and cutting costs. The most obvious current example of this is AI, which is the hot new piece of technology that businesses are trying to utilize. The other main technology that exemplifies this is cloud computing. 

There are many reasons organizations are looking to the cloud as a business enabler, with scalability, flexibility, and cost-effectiveness being only a portion of the long list. Any business that is not currently considering incorporating some aspect of cloud technology into their existing systems will fall behind compared to the rest of the industry, due to the many ways in which it can benefit workflows and help drive revenue. 

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Windows 10 KB5040525 update patches a slew of WDAC problems, fixes Windows Backup, and addresses many more issues

A creakingly old computer

It is the time of the month when Microsoft releases preview versions of updates for Windows, and with the KB5040525 update the company has a large number of fixes that will be welcomed by Windows 10 users.

Among the biggest improvements are fixes for various issues with Windows Defender Application Control. As well as addressing a troublesome memory leak, Microsoft has also taken steps to prevent stop errors caused by certain policies. Elsewhere there are WPA3 fixes, a problem with Windows Backup has been patched, and a DHCP Option 235 gremlin has been thwacked.

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Facing the security challenge of quantum computing [Q&A]

Now that we're beginning to overcome the obstacles to creating a commercially viable quantum computer it's important to consider the security threat that these vastly more powerful machines will pose.

Not least of these is the threat to encryption which puts everyone's online security at risk. We spoke to Nils Gerhardt, chief technology officer and head of product for Utimaco, to explore what a post-quantum future may look like.

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MSI announces new Cubi NUC mini PC

MSI has launched the brand-new Cubi NUC series mini PC. The MSI Cubi NUC Series, which includes the Cubi NUC 1M, Cubi NUC 1MG, and Cubi NUC 13MQG, is recognized for its sleek design that integrates into any modern workspace or home environment. It has been crafted with attention to detail, and its compact form factor is complemented by environmentally friendly materials, such as PCR plastics and recycled molded pulp for packaging, aligning with MSI's sustainability efforts.

The Cubi NUC 1M features Windows 11 Home, with MSI recommending Windows 11 Pro for business. It is powered by Intel Core processors, including the i7-150U, i5-120U, and i3-100U. The device uses the Intel SoC chipset and supports up to 64GB of DDR5 memory with two SO-DIMM slots. Graphics are handled by Intel Graphics, and security features include support for dTPM 2.0. The sound system is managed by Realtek ALC256.

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Accenture launches AI Refinery framework with NVIDIA AI Foundry for custom Llama 3.1 models

Accenture has unveiled its Accenture AI Refinery framework, built on NVIDIA AI Foundry, to help clients develop custom LLM models using the newly introduced Llama 3.1 collection. This framework, part of Accenture’s foundation model services, is designed to enhance the use of generative AI by allowing businesses to create LLMs tailored to their specific domains and business processes.

The AI Refinery framework includes four main components: domain model customization and training, the Switchboard platform for model selection, an enterprise cognitive brain for indexing corporate knowledge, and Agentic architecture for autonomous AI actions.

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ShowMeCables launches new right-angle Ethernet cables

ShowMeCables has unveiled a new series of Cat 6a right-angle Ethernet cables. These innovative cables feature 90-degree angled connectors designed to ease installation in spaces with dense cabling. The line offers low smoke zero halogen (LSZH) rated jackets for environments where PVC is banned, and CMX jackets for standard communication settings.

These Cat 6a cables are equipped to handle 10-gigabit speeds, making them suitable for a variety of indoor uses such as data centers, offices, industrial sites, home networks, and transportation systems.

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Cloud and AI expansion lead to data protection challenges

Enterprise IT leaders are grappling with unprecedented challenges in data protection and governance, driven by the rapid adoption of cloud applications and generative AI, according to a new report.

The study from backup and recovery platform Keepit finds that although 70 percent of respondents report that their financial applications are covered by data protection strategies, a significant portion of other key systems and custom applications remain vulnerable.

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72 percent of Americans worry about deepfakes influencing elections

New research from identity verification company Jumio finds growing concern among Americans about the political influence AI and deepfakes may have during upcoming elections and how they might influence trust in online media.

The study of over 8,000 adult consumers, split evenly across the UK, US, Singapore and Mexico, finds 72 percent of Americans are worried about the potential for AI and deepfakes to influence upcoming elections in their country.

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Intel finally determines cause of processor instability issues and has a patch in the pipeline

Intel logo on wood

Users of Intel Core 13th and 14th Gen Desktop Processors have been plagued with instability problems for some 18 months or more. The issue has been causing crashes and blue screens and the chipmaker has now finally announced that it knows what is causing the problem.

Having determined that "elevated operating voltage stemming from a microcode algorithm" is causing incorrect voltage requests to CPUs, Install says it is ready to issue a micropatch. Well, almost ready.

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Kodi alternative Stremio OS is now available for Raspberry Pi 4 and 5

Stremio-OS-Raspberry-Pi

Stremio OS is now available for Raspberry Pi 4 and 5. This lightweight operating system is designed to run the Stremio media center application, which aggregates streaming content from various services into a user-friendly interface.

Unlike Kodi, none of Stremio's addons are installed on your computer so there's no danger of introducing rogue code (Stremio itself is open source). It will recommend content that you might be interested in and tell you if it’s free and where you can find it. It can play HTTP links, as well as magnet links and torrent files (drag and drop).

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Bitwise debuts Ethereum ETF on NYSE

ethereum-coin

Bitwise Asset Management has launched the Bitwise Ethereum ETF (ETHW), scheduled to start trading on the New York Stock Exchange on July 23. This marks the introduction of the first spot Ethereum fund in the U.S., providing investors with a new method to invest in Ethereum, the second-largest crypto asset by market capitalization.

The ETF begins with a management fee of 0.20 percent, offering a promotional zero fee on the first $500 million in assets for the initial six months.

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Google reverses decision on eliminating third-party cookies, introduces new user choice model in Chrome

Google has revised its Privacy Sandbox initiative, moving away from its earlier decision to eliminate third-party cookies. The initiative has been influenced by extensive feedback from various stakeholders, including the UK’s Competition and Markets Authority (CMA), Information Commissioner's Office (ICO), publishers, and the advertising industry.

Instead of phasing out third-party cookies as initially planned, Google is now implementing a new user experience in Chrome that allows individuals to make informed decisions about their privacy settings during web browsing. This new approach allows users to modify their privacy preferences at any time, reflecting a significant change in strategy.

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Maximize workspace efficiency: Sabrent Thunderbolt 4 Docking Station with Monitor Desk Mount (DS-T4WA)

Docking stations are so common these days, that’s it’s hard to really get excited about them. With that said, the newest such dock from Sabrent has a unique aspect that you will want to check out. You see, the Thunderbolt 4 Docking Station with Monitor Desk Mount (DS-T4WA) offers Thunderbolt 4 technology and a gas-lift monitor arm to enhance workspace flexibility and connectivity. Yes, it’s a dock and monitor arm in one!

This docking station supports high-speed data transfer up to 40Gbps with its Thunderbolt 4 downstream port. It features two 10Gbps USB-C ports, one 10Gbps USB-A port, and one 5Gbps USB-A port, accommodating a variety of devices. Additionally, the station includes a UHS-II microSD/SD card reader, Gigabit Ethernet, and a 3.5mm audio port.

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Lessons learned from the Microsoft-CrowdStrike outage

The tech world is still reeling from the recent widespread system outages caused by a CrowdStrike update last week. These outages are a stark reminder of the interconnected nature of our digital ecosystem and how far-reaching the consequences of a single update can be.

Let's address the global impact of the recent incident -- thousands of Windows machines worldwide experienced the dreaded Blue Screen of Death (BSoD). And this wasn't just a minor hiccup; we saw major disruptions across the banking, aviation, broadcasting, and retail sectors. It really drives home how interconnected our digital world has become and how a single update can have far-reaching consequences.

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