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Signicat acquires Encap Security to create Mobile Identity and Authentication Powerhouse

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With the acquisition, Signicat is a complete technology and service provider offering a passwordless mobile identity solution that supports 100% onboarding, authentication and signing across the entire customer lifecycle with state-of-the-art security

Signicat, the Trusted Digital Identity™ company, has acquired Strong Customer Authentication (SCA) specialist Encap Security from AllClear ID. With Encap’s user-friendly and secure mobile app-based authentication solution, Signicat ensures SCA compliance across the full customer lifecycle. The acquisition creates a company with unparalleled breadth in identity and authentication, establishing Signicat as a mobile identity and authentication powerhouse.

Encap Security is the leader in high-security app-based mobile authentication. It was founded in 2006, spun out from a project by Norwegian banks to create a ground-breaking software-based mobile ID solution. Encap’s SCA platform is used across Europe by clients in regulated markets, especially financial services, for customer mobile authentication and security for all digital use cases and across all channels. Today Encap serves millions of end users, facilitating hundreds of millions of transactions annually, with many of the largest service providers in the financial industry in the Nordics and EU among its customers.

Signicat and Encap have worked together as trusted partners for over 10 years. The acquisition brings together Signicat’s expertise in digital identity, onboarding and signing, and Encap’s experience in making authentication convenient and user-friendly without compromising on security or compliance. Signicat now offers all the technology regulated businesses require on a global basis to successfully verify, onboard, and authenticate across the entire customer lifecycle, including digital signatures and payment authorisation via mobile—all compliant to the demands of PSD2 SCA.

“Encap Security was ahead of its time when it was founded, providing mobile-first authentication even before smartphones were mainstream—and it has retained this advantage ever since. Together, our passwordless solution provides consumers and businesses with exceptional ease-of-use while protecting them from risk and fraud,” states Asger Hattel, CEO of Signicat. “This acquisition provides the backbone to our mobile digital identity strategy and establishes Signicat as a mobile identity and authentication powerhouse.”

“Signicat and Encap Security share much more than our Norwegian roots,” said Johan Sörmling, CEO, Encap Security. “We look to provide our customers with the very best user experience without compromising on security. With firms across Europe looking to mitigate the impact of SCA regulation on the customer experience, we believe we have the right proposition at the right time.”

Encap’s technology looks beyond compliance and uses authentication to improve – rather than inhibit – the customer experience and deliver value to end customers. Its Anonymous ID service allows end users to pause the onboarding process and return later, reducing abandonment, while Recovery of Authentication Profiles makes moving from an old to a new device simple. Unlike other providers, Encap Security supports clients by improving their mobile services at the start of the engagement, at daily interactions, and if the service channel is disrupted.

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Source: https://www.fintechnews.org/with-the-acquisition-signicat-is-a-complete-technology-and-service-provider-offering-a-passwordless-mobile-identity-solution-that-supports-100-onboarding-authentication-and-signing-across-the-entire/

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Must Know Data Pre-processing Techniques for Natural Language Processing!

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Data Pre-processing Techniques for NLP projects! – Analytics Vidhya






















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Source: https://www.analyticsvidhya.com/blog/2021/06/must-know-data-pre-processing-techniques-for-natural-language-processing/

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Donut Plots : Data Visualization With Python

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Source: https://www.analyticsvidhya.com/blog/2021/06/donut-plots-data-visualization-with-python/

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Crypto sees second week of outflows; ether posts record outflows – CoinShares

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By Gertrude Chavez-Dreyfuss

NEW YORK (Reuters) – Cryptocurrency investment products and funds saw outflows for a second straight week, with ether posting record outflows as institutional investors took a step back, data from digital asset manager CoinShares showed on Monday.

Total crypto ouflows hit $21 million for the week ending June 11. Since mid-May, total outflows reached $267 million, representing 0.6% of total assets under management (AUM).

Ether, the token used in the Ethereum blockchain, posted its largest outflow last week of $12.7 million, data showed. The token has been one of the strongest performers this year.

But CoinShares said ether inflows last week were mixed, “implying mixed opinions among investors.”

Ether was last up 1% on the day at $2,536. Since hitting a record $4,380.64 on May 12, ether has fallen 40%.

The outflows in bitcoin cooled last week to $10 million, significantly lower than the previous record week of $141 million, CoinShares data showed. Trading activity in bitcoin products rose 43% from the previous week.

Bitcoin rose above $40,000 on Monday following tweets from Tesla boss Elon Musk, who said Tesla sold the currency but may resume transactions using it. It was last up 1.8% at $39,686.

While bitcoin is currently trading 36% below its 11-year exponential trend, Dan Morehead, co-chief investment officer at Pantera Capital, said in his Blockchain Letter on Monday that investors should resist the urge to close positions and instead go the other way if they have the emotional and financial resources to do so.

“Bitcoin generally goes way up…Anyone that has held bitcoin for 3.25 years has made money,” said Morehead.

Grayscale, the largest digital currency manager, raised its AUM to $33.04 billion last week, from $30.3 billion the previous week.

CoinShares, the second biggest digital asset manager, saw AUM slip to $3.8 billion, from nearly $4 billion the week before.

(Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman)

Image Credit: Reuters

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Source: https://datafloq.com/read/crypto-sees-second-week-outflows-ether-posts-record-outflows-coinshares/15444

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Analysis: Murkiness of Russia’s ransomware role complicates Biden summit mission

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By Joseph Menn

(Reuters) – As U.S. President Joe Biden prepares to confront Russian President Vladimir Putin over ransomware gangs in his country that twice recently targeted critical American infrastructure, his administration is publicly blaming the Russian government for allowing those criminals to profit without prosecution.

The FBI and private cybersecurity companies have not disclosed any evidence showing Russian government involvement in the ransomware attacks on U.S. fuel transporter Colonial Pipeline Co and meatpacker JBS SA of Brazil. Putin has called the idea that Russia was responsible absurd.

But as the cyber operations of Russian intelligence agencies have evolved, it has become harder for the U.S. government to distinguish alleged Russian intelligence operatives from ordinary cyber criminals stealing secrets in ransomware forays and threatening to publish them, according to more than a dozen U.S. intelligence, national security and law enforcement officials and experts outside of government interviewed by Reuters.

“It’s a combination of tasking and turning a blind eye, but there’s always a plausible deniability,” said cybercrime expert John Bennett of corporate risk consultancy Kroll.

As the top FBI agent in San Francisco, Bennett oversaw an investigation of a massive breach https://www.reuters.com/article/yahoo-hack-indictments-fsb-idINKBN16N0K4 of 500 million Yahoo email accounts that led to 2017 U.S. charges against two officers of Russia’s FSB security agency accused of instructing outside criminal hackers. A Canadian defendant pleaded guilty to nine felony counts in the case, while charges against three Russians remain pending because they are outside of America’s grasp.The White House said Biden will bring up ransomware attacks emanating from Russia when he meets Putin in Geneva on Wednesday in the wake of forced shutdowns at Colonial Pipeline and meatpacker JBS, which has extensive U.S. operations.

Putin told Russian state television that Moscow would be willing to hand over cybercriminals to the United States if Washington reciprocates. Biden on Sunday called that statement a sign of progress. White House and State Department officials declined to elaborate or say what Biden would seek from Putin.

Russian officials have denied control of criminal groups while calling hackers whose activities fulfill Kremlin objectives “patriotic.” In public statements and private forums, major criminal groups warn affiliates not to attack targets in Russia. Many ransomware programs will not execute on devices that have keyboards set for the Russian language.

In another U.S. criminal probe, Evgeniy Bogachev, a Russian national, was charged https://www.justice.gov/opa/pr/us-leads-multi-national-action-against-gameover-zeus-botnet-and-cryptolocker-ransomware in 2014 with running GameOver Zeus, a variant of sophisticated bank-fraud software, and distributing early ransomware called Cryptolocker.

Though it was not part of the indictment, GameOver Zeus’ pattern of data collection – searching infected computers for banking passwords and phrases including “top secret” – indicated a relationship with Russian intelligence, according to senior U.S. Justice Department official John Carlin, who oversaw the case during the Obama administration.

Increasingly, ransomware has moved toward bigger targets and toward stealing secrets instead of just encrypting them inside the targets. Both trends could fit with Russian government goals, said analyst Craig Williams of Cisco Systems’ Talos threat intelligence unit.

Evil Corp, a group that the U.S. Treasury has said is led by a Bogachev associate named Maksim Yakubets, became the first ransomware gang to focus on “big game” targets likely to pay more, said Adam Meyers, senior vice president of cybersecurity technology company CrowdStrike.

A 2019 U.S. Treasury Department sanctions order https://home.treasury.gov/news/press-releases/sm845 accused Yakubets both of carrying out large-scale crimes and taking FSB directions, “acquiring confidential documents through cyber-enabled means and conducting cyber-enabled operations on its behalf.”

Yakubets was indicted https://www.justice.gov/opa/pr/russian-national-charged-decade-long-series-hacking-and-bank-fraud-offenses-resulting-tens in the United States in 2019 for alleged hacking, wire fraud and bank fraud. The United States has offered millions of dollars in reward money for information leading to the arrests of Bogachev and Yakubets and published photographs of them, but they have not been apprehended by Russian authorities.

Analysts told Reuters Yakubets is married to the daughter of a former senior FSB operative. Reuters was unable to reach either man for comment.

Because the Treasury sanctions forbid U.S. ransomware targets from paying Evil Corp, the group keeps renaming its encryption software.

One of the new variants is called Hades, according to CrowdStrike https://www.crowdstrike.com/blog/hades-ransomware-successor-to-indrik-spiders-wastedlocker. As of March, the Hades variant had been found in multiple companies with more than $1 billion in annual revenue, according to incident responders at Accenture https://www.accenture.com/us-en/blogs/cyber-defense/unknown-threat-group-using-hades-ransomware, including in the transportation and manufacturing sectors.

(Reporting by Joseph Menn in San Francisco; Editing by Will Dunham and Edward Tobin)

Image Credit: Reuters

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://datafloq.com/read/analysis-murkiness-russias-ransomware-role-complicates-biden-summit-mission/15439

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