Fed to step-up focus on payment security with study, working groups: Fed's Powell

WASHINGTON (Reuters) – The U.S. Federal Reserve is stepping-up its focus on payment security as the industry reaches a “critical juncture” driven by new technologies, Federal Reserve board governor Jerome Powell said on Wednesday.

Speaking at a conference in New York, Powell said the U.S. central bank would early next year launch a study analyzing payment security vulnerabilities and also planned to create new working groups focused on reducing the industry costs associated with securing payments.

“Rapidly changing technology is providing a historic opportunity to transform our daily lives, including the way we pay. Fintech firms and banks are embracing this change, as they strive to address consumer demands for more timely and convenient payments,” said Powell.

“It is essential, however, that this innovation not come at the cost of a safe and secure payment system that retains the confidence of its end users.”

The Fed does not have complete authority over the U.S. payment system, but it has led industry efforts to make it faster and easier to use. The central bank also leads the 160-member Secure Payments Task Force.

Powell’s comments underline growing concerns among financial market participants and regulators about the risks cyber thieves pose to the financial system following a series of recent incidents.

Last year, SWIFT, the global financial messaging system, disclosed it had suffered hacking attacks on its member banks including the high-profile $ 81 million heist at Bangladesh Bank.

During that incident, hackers broke into the computers of Bangladesh’s central bank and sent fake payment orders, tricking the Federal Reserve Bank of New York into transferring the funds. [here]

Powell said on Wednesday new fintech payment companies posed “significant challenges to traditional banking business models” and that the payment system was reaching a “critical juncture.”

His comments echoed those of Barclays Chief Executive Officer Jes Staley who on Saturday warned payments would be the next battleground for banks amid increasing competition from fintech players and tech giants including Amazon and Facebook.

Reporting by Michelle Price; Editing by Chris Reese

Tech

The Verge’s Deputy Editor Chris Ziegler Was Secretly Working for Apple for Two Months

Late this afternoon, Nilay Patel, the editor-in-chief of The Verge, published a post detailing the circumstances around the departure of Chris Ziegler, a founding member of the site. As it turns out, according to Patel, Ziegler had been pulling double duty as an employee of both The Verge and Apple.

Read more…


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Working out how to monetize your product is a real pain in the ass, just ask TextExpander


For many startups, the singular point of focus when you set out on your journey is getting users on board. Without users, you can’t demonstrate momentum and, frankly, that anyone gives a damn that your product exists. If users don’t give a damn, it’s hard for potential investors to care. Without money to develop it and add new features, it flounders further. It’s a vicious circle. Even if you do manage to attract a sizeable number of users with your free product – and maybe some investor cash too, there’s a point where you’ll need to start making some money back from…

This story continues at The Next Web


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Q&A: My internet is running weirdly and hardly working, help?

Question by jonB: My internet is running weirdly and hardly working, help?
For the past few days my internet has been running really weirdly.

It’s been running very slowly, keeps freezing, I have to try many times for a website to work. When I click on a website it sometimes diverts me to other random websites. Also I can’t access my emails on Yahoo Mail.

I’ve also been getting numerous pop ups, I tried uploading screen shots on several different image hosting sites but none of them are working it just says ‘Done’ in the bottom left corner of the screen but it won’t upload! The pop ups advertise things like ‘Car Insurance, Aspirin Canadian Pharmacy, Cheap Insurance’ and the other pop up I got when I went on Tiny Pics says ‘Looking for photos?, Your Computer under attack! Download anti virus now!, Free Movies Online at…’

I have run MalwareBytes, Spybot Search and Destroy, Panda Cloud, and Norton 2011 anti-virus programmes. Only Norton detected viruses but even when those were removed the problems persists and has even gotten worse.

Can anyone please help me? I don’t know what to do!

Best answer:

Answer by Bob
You have a virus of some kind. Try running your scans in safe mode. If that does not work, save all your files to DVDs or an external hard drive, reformat your hardrive and reinstall your OS.

I know it sucks but it’ll fix you right up.

Know better? Leave your own answer in the comments!

Working on Cloud Platforms

cloud platforms
by jovike

 

Cloud computing allows customers to access the basic features of the system and applications such as word processing applications, without even downloading the same from the internet or purchasing the product from different vendors and installing them on their machine.

Cloud computing comes to mind when you think of large power storages without modifying the current infrastructure and capabilities of the system. Cloud has provided its customers a better opportunity to access every thing starting from applications to data storage from its server. Cloud is basically referred to the name given to those services or servers which holds the entire data as well as all the applications used by its customers.

Cloud Computing is basically a strategy that allow customers to access their applications such as word processing etc. by a browser and after their work, can easily store their information on the cloud itself, thus using computation, it can easily store the changes made by the customers in their databases. Cloud Computing Platform is web based internet.

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The devices (any computer or web-based instrument connected to the Internet) may access the same applications, computing power and files in a cloud-computing environment. Users may remotely save and access files such as music, movies, pictures, videos etc.They can watch movie, play games or do word processing on a remote server.

In cloud computing platforms the entire data is centrally stored, so the customers do not need to carry a storage medium such as a thumb drive or pen drive along with them.

Key attributes of Cloud Computing Platform used by many software development companies are:

It is agile and scalable.
It decreases monetary cost and engages tenancy.
It provides appliance and location freedom.
Cloud Computing Platform provides security because of centralization of data and data (backup) recovery.
It is reliable and sustainable.
It is simpler to maintain and meter.

There are 3 main types of Cloud Computing Platforms. These can be listed as:

Public cloud Computing Platform
Hybrid cloud Computing Platform
Private cloud Computing Platform.

The main issues faced by cloud computing platform are:

The Privacy is the biggest issue for a client.
Data migration can lead to loss of data.
Since every thing is maintained on the web, it requires 24/7 uninterrupted data access, as that can lead to malfunctioning of the systems using the service.

Earlier, user/client has to download and install applications on his system; these applications are managed by the client only on his side. But, cloud computing differs from the classic client-server model by making the applications available from a server that are executed and handled by a client’s web browser, without installing of an application on the client system. Centralization of data and services give cloud service providers complete control over the versions of the browser-based applications provided to clients, which obsolete the need for version upgrades or license management on individual client devices. The term “software as a service” (SaaS) is sometimes used to describe application service offered by cloud computing. A common short hand provided for the cloud computing is the ”Cloud”.

 

Author’s bio:

David Frankk is the author of this article. He has been writing articles for many mobile application development companies like Q3 Technologies. Moreover, he has been actively involved in providing useful content writing material related to java software development.

For more details, feel free to visit http://www.q3tech.com

More Cloud Platforms Articles

Working on Cloud Platforms

cloud platforms
by lennox_mcdough

 

Cloud computing allows customers to access the basic features of the system and applications such as word processing applications, without even downloading the same from the internet or purchasing the product from different vendors and installing them on their machine.

Cloud computing comes to mind when you think of large power storages without modifying the current infrastructure and capabilities of the system. Cloud has provided its customers a better opportunity to access every thing starting from applications to data storage from its server. Cloud is basically referred to the name given to those services or servers which holds the entire data as well as all the applications used by its customers.

Cloud Computing is basically a strategy that allow customers to access their applications such as word processing etc. by a browser and after their work, can easily store their information on the cloud itself, thus using computation, it can easily store the changes made by the customers in their databases. Cloud Computing Platform is web based internet.

]]>

The devices (any computer or web-based instrument connected to the Internet) may access the same applications, computing power and files in a cloud-computing environment. Users may remotely save and access files such as music, movies, pictures, videos etc.They can watch movie, play games or do word processing on a remote server.

In cloud computing platforms the entire data is centrally stored, so the customers do not need to carry a storage medium such as a thumb drive or pen drive along with them.

Key attributes of Cloud Computing Platform used by many software development companies are:

It is agile and scalable.
It decreases monetary cost and engages tenancy.
It provides appliance and location freedom.
Cloud Computing Platform provides security because of centralization of data and data (backup) recovery.
It is reliable and sustainable.
It is simpler to maintain and meter.

There are 3 main types of Cloud Computing Platforms. These can be listed as:

Public cloud Computing Platform
Hybrid cloud Computing Platform
Private cloud Computing Platform.

The main issues faced by cloud computing platform are:

The Privacy is the biggest issue for a client.
Data migration can lead to loss of data.
Since every thing is maintained on the web, it requires 24/7 uninterrupted data access, as that can lead to malfunctioning of the systems using the service.

Earlier, user/client has to download and install applications on his system; these applications are managed by the client only on his side. But, cloud computing differs from the classic client-server model by making the applications available from a server that are executed and handled by a client’s web browser, without installing of an application on the client system. Centralization of data and services give cloud service providers complete control over the versions of the browser-based applications provided to clients, which obsolete the need for version upgrades or license management on individual client devices. The term “software as a service” (SaaS) is sometimes used to describe application service offered by cloud computing. A common short hand provided for the cloud computing is the ”Cloud”.

 

Author’s bio:

David Frankk is the author of this article. He has been writing articles for many mobile application development companies like Q3 Technologies. Moreover, he has been actively involved in providing useful content writing material related to java software development.

For more details, feel free to visit http://www.q3tech.com

host process for windows services stopped working and was closed, HELP?

Question by ahnawaren16: host process for windows services stopped working and was closed, HELP?
After running for about 30~ minutes this error comes up and then my internet stops working. I am connected through verizon’s fivespot device, WWAN not the wireless mode.

It seems to be connected to the “broadcom netlink gigabit ethernet” thing, Found this in the event log around the time of the error.

I think it may be a virus because I get redirected to weird web pages sometimes or they just open in a new tab, i tried the panda cloud antivirus but i dont think it worked

Best answer:

Answer by Chloeebabey
hm

Give your answer to this question below!