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October 25, 2016

Darknet Probing Tech Startup Ravelin Closes £3 Million Investment Round

It’s not easy tackling darknet fraudsters, but that’s exactly what London-based fraud detection tech startup Ravelin does. It’s also announced that it has closed a £3 million investment funding round as the business looks at expanding.

In the last nine months, Ravelin has grown their company revenue by more than 600 percent, attracting high-profile names, according to a report from Bdaily. Some companies that work with Ravelin include EasyTaxi and Deliveroo and investors Playfair Capital.

Martin Sweeney, Ravelin chief executive said to Bdaily that merchants, consumers, and banks face a growing problem with fraud.

He said:

Fraud is growing faster than [...]

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October 22, 2016

Is a Decentralized Internet the Solution to Outages?

“Attacks that we witnessed today were possible mainly because there is a centralized infrastructure which could have been targeted,” said Piotr Janiuk, CTO of  Golem,  which seeks to decentralize the internet using peer-to-peer technology. “The attack itself isn’t easy to carry out, but it is obvious that even the backbone infrastructure behind the Internet contains single points of failure which are prone to such malicious activity – even though the infrastructure may comprise multiple machines. As of today, the trend is to move towards distributed solutions and the main problem is the lack of standard way of setting up the infrastructure.”

Golem  is among a [...]

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October 22, 2016

US Bank Uses Mobile Phones Geolocation to Prevent Fraud

The U.S. Bank has unveiled that it is attempting to stop fraud by using consumers’ mobile phones geolocation to determine if a consumer’s card information matches that of its phone, according to a report by American Banker.

Nowadays, it’s no longer possible to walk down the street without seeing someone on their phone. Nor is it possible to avoid the threat of fraud or identity theft, which targets people all over the world.

Now, though, in a bid to stop fraud the U.S. Bank has announced that it may have the solution to this: by utilizing a mobile phone’s geolocation by pinpointing exactly where a customer is and if it matches the location of their card.

The bank [...]

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October 21, 2016

A DDoS Attack is Crippling the Internet & One Cryptographer Called It

A number of popular websites including the likes of Twitter and Reddit were taken down today after a series of distributed denial of service (DDoS) attacks targeted DNS service Dyn.

Put a marker down on this day. It is one to be remembered. Large DDoS attacks have relentlessly targeted major DNS host Dyn, leading to websites of the likes of Twitter, Reddit, AirBnB and Github among plenty of others to experience partial or total outages.

For those not in the know, a DNS or Domain Name Servers fundamentally act as the tool that sees through a user’s request to access any given webpage ensuring that the internet user reaches the right destination. If you clicked on this [...]

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