What to expect from tomorrow’s antitrust hearing featuring big tech


This post is by Jonathan Shieber from TechCrunch


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Tomorrow, representatives from Facebook, Google, Amazon and Apple will testify before Congress in the second hearing organized as part of the House Judiciary Committee’s antitrust investigation into the world’s largest technology companies.

While the first hearing focused on the ways technology companies busted the traditional news business, this one promises to look at the “impact of market power of online platforms on innovation and entrepreneurship,” according to the committee.

Unlike the previous hearing, which featured representatives from media outlets and industry trade organizations attacking or defending the ways in which online advertising had gutted the news business, this latest outing led by Rhode Island Democratic Rep. David Cicilline will have actual tech company execs on hand to answer congressional queries.

One section of the testimony will feature Google’s economic policy head, Adam Cohen; Amazon’s associate general counsel, Nate Sutton; Facebook’s global head of policy, Matt Perault; and Kyle Andeer, Apple’s

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Why commerce companies are the advertising players to watch in a privacy-centric world


This post is by Arman Tabatabai from TechCrunch


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The unchecked digital land grab for consumers’ personal data that has been going on for more than a decade is coming to an end, and the dominoes have begun to fall when it comes to the regulation of consumer privacy and data security.

We’re witnessing the beginning of a sweeping upheaval in how companies are allowed to obtain, process, manage, use and sell consumer data, and the implications for the digital ad competitive landscape are massive.

On the backdrop of evolving privacy expectations and requirements, we’re seeing the rise of a new class of digital advertising player: consumer-facing

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W(hy)TF are Japan and South Korea in a trade war?


This post is by Danny Crichton from TechCrunch


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Another week, another trade war. And unlike most trade wars these days, this one didn’t originate from the confines of the Rose Garden with the Marine One whirlybird in the background. No, like any Ice Bucket Challenge-worthy meme, others are getting in on the trade war bandwagon and making it their own.

Cue Japan and South Korea. The two countries have slipped into their own trade war over the past few weeks, a conflict that now threatens the foundations of Japan’s supplier industry, Samsung Electronics, and global smartphone and computer shipments.

But why a trade conflict? If the U.S./China trade war emanates from the dark recesses of President Trump’s brain, then this new trade war emanates from the dark chapters of Japan and South Korea’s collective and sad history.

One of the saddest of those chapters is the plight of Korean comfort women — women who were

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As FTC cracks down, data ethics is now a strategic business weapon


This post is by Danny Crichton from TechCrunch


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Five billion dollars. That’s the apparent size of Facebook’s latest fine for violating data privacy. 

While many believe the sum is simply a slap on the wrist for a behemoth like Facebook, it’s still the largest amount the Federal Trade Commission has ever levied on a technology company. 

Facebook is clearly still reeling from Cambridge Analytica, after which trust in the company dropped 51%, searches for “delete Facebook” reached 5-year highs, and Facebook’s stock dropped 20%.

While incumbents like Facebook are struggling with their data,

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Minimum investment for EB-5 investor green card expected to more than double


This post is by Arman Tabatabai from TechCrunch


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While not a startup visa, the EB-5 investor green card offers many entrepreneurs a path to a green card by investing money and creating jobs in the U.S. Under the EB-5 program, an entrepreneur’s family is also eligible for green cards.

Imminent regulatory changes to the EB-5 program are expected to make obtaining an EB-5 green card a whole lot more expensive. The minimum investment is anticipated to more than double to $1.35 million from the current $500,000. And with individuals from India expected to face a backlog for EB-5 green cards shortly, the opportunity to obtain an EB-5 green card at a relatively low cost and in a timely manner is closing.

Minimum investment for EB-5 investor green card expected to more than double


This post is by Arman Tabatabai from TechCrunch


Click here to view on the original site: Original Post




While not a startup visa, the EB-5 investor green card offers many entrepreneurs a path to a green card by investing money and creating jobs in the U.S. Under the EB-5 program, an entrepreneur’s family is also eligible for green cards.

Imminent regulatory changes to the EB-5 program are expected to make obtaining an EB-5 green card a whole lot more expensive. The minimum investment is anticipated to more than double to $1.35 million from the current $500,000. And with individuals from India expected to face a backlog for EB-5 green cards shortly, the opportunity to obtain an EB-5 green card at a relatively low cost and in a timely manner is closing.

TrickBot malware learns how to spam, ensnares 250M email addresses


This post is by Zack Whittaker from TechCrunch


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Old bot, new tricks.

TrickBot, a financially motivated malware in wide circulation, has been observed infecting victims’ computers to steal email passwords and address books to spread malicious emails from their compromised email accounts.

The TrickBot malware was first spotted in 2016 but has since developed new capabilities and techniques to spread and invade computers in an effort to grab passwords and credentials — eventually with an eye on stealing money. It’s highly adaptable and modular, allowing its creators to add in new components. In the past few months it’s adapted for tax season to try to steal tax documents for making fraudulent returns. More recently the malware gained cookie stealing capabilities, allowing attackers to log in as their victims without needing their passwords.

With these new spamming capabilities, the malware — which researchers are calling “TrickBooster” — sends malicious from a victim’s account then removes the sent messages from

Continue reading “TrickBot malware learns how to spam, ensnares 250M email addresses”

TrickBot malware learns how to spam, ensnares 250M email addresses


This post is by Zack Whittaker from TechCrunch


Click here to view on the original site: Original Post




Old bot, new tricks.

TrickBot, a financially motivated malware in wide circulation, has been observed infecting victims’ computers to steal email passwords and address books to spread malicious emails from their compromised email accounts.

The TrickBot malware was first spotted in 2016 but has since developed new capabilities and techniques to spread and invade computers in an effort to grab passwords and credentials — eventually with an eye on stealing money. It’s highly adaptable and modular, allowing its creators to add in new components. In the past few months it’s adapted for tax season to try to steal tax documents for making fraudulent returns. More recently the malware gained cookie stealing capabilities, allowing attackers to log in as their victims without needing their passwords.

With these new spamming capabilities, the malware — which researchers are calling “TrickBooster” — sends malicious from a victim’s account then removes the sent messages from

Continue reading “TrickBot malware learns how to spam, ensnares 250M email addresses”

TrickBot malware learns how to spam, ensnares 250M email addresses


This post is by Zack Whittaker from TechCrunch


Click here to view on the original site: Original Post




Old bot, new tricks.

TrickBot, a financially motivated malware in wide circulation, has been observed infecting victims’ computers to steal email passwords and address books to spread malicious emails from their compromised email accounts.

The TrickBot malware was first spotted in 2016 but has since developed new capabilities and techniques to spread and invade computers in an effort to grab passwords and credentials — eventually with an eye on stealing money. It’s highly adaptable and modular, allowing its creators to add in new components. In the past few months it’s adapted for tax season to try to steal tax documents for making fraudulent returns. More recently the malware gained cookie stealing capabilities, allowing attackers to log in as their victims without needing their passwords.

With these new spamming capabilities, the malware — which researchers are calling “TrickBooster” — sends malicious from a victim’s account then removes the sent messages from

Continue reading “TrickBot malware learns how to spam, ensnares 250M email addresses”

Facebook answers how Libra taxes and anti-fraud will work


This post is by Josh Constine from TechCrunch


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Facebook provided TechCrunch with new information on how its cryptocurrency will stay legal amidst allegations from President Trump that Libra could facilitate “unlawful behavior”. Facebook and Libra Association executives tell me they expect Libra will incur sales tax and capital gains taxes. They confirmed that Facebook is also in talks with local convenience stores and money exchanges to ensure anti-laundering checks are applied when people cash-in or cash-out Libra for traditional currency, and to let you use a QR code to buy or sell Libra in person.

A Facebook spokesperson said the company wouldn’t respond directly to Trump’s tweets, but noted that the Libra association won’t interact with consumers or operate as a bank, and that Libra is meant to be a complement to the existing financial system.

Trump had tweeted that “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity. Similarly, Facebook Libra’s

Facebook Calibra Libra Wallet
Facebook Calibra
Libra Mission Statement
Calibra Transactions 2

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FEC says political campaigns can now get discounted cybersecurity help


This post is by Zack Whittaker from TechCrunch


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In a long awaited decision, the Federal Elections Commission will now allow political campaigns to appoint cybersecurity helpers to protect political campaigns from cyberthreats and malicious attackers.

The FEC, which regulates political campaigns and contributions, was initially poised to block the effort under existing rules that disallow campaigns to receive discounted services for federal candidates because it’s treated as an “in kind donation.”

For now the ruling allows just one firm, Area 1 Security, which brought the case to the FEC, to assist federal campaigns to fight disinformation campaigns and hacking efforts, both of which were prevalent during the 2016 presidential election.

Campaigns had fought in favor of the proposal, fearing a re-run of 2016 in the upcoming presidential and lawmaker elections in 2020.

FBI director Christopher Wray said last in April that the recent disinformation efforts were “a dress rehearsal for the big show in 2020.”

In

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Unraveling immigration politics and Silicon Valley ethics with Jaclyn Friedman


This post is by Arman Tabatabai from TechCrunch


Click here to view on the original site: Original Post




Immigration may not seem to be a tech issue. But for Americans with some personal or family experience with the idea of separated families and/or concentration camps, it can be hard to see what is currently going on in our names thanks to the U.S. Immigration and Customs Enforcement agency (better known as “ICE”) as anything less than the single most urgent moral or ethical issue in this country today.

This begs a disclaimer: I have Eastern European Jewish family roots in what became the Holocaust. I have a Cuban Jewish mother who came to this country by herself as a young girl refugee and was separated from her family for multiple years due to U.S. immigration policy.

I am a father myself. This piece is personal for me, in other words. If you want to know whether I can be objective here, I would have to admit

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SEC approves 1st consumer RegA+ token Props for cross-app rewards


This post is by Josh Constine from TechCrunch


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After cracking down on ICOs, the SEC just okayed the first two RegA+ tokens that offer an alternative way for anyone to gain a financial stake in a company, even unaccredited investors. Blockstack got approved for a $28 million digital token sale to raise money, while influencer live streaming app YouNow’s spin-off Props received a formal green light for a consumer utility ‘Howey’ token users can earn to get loyalty perks in multiple apps.

Props has already raised $21 million by pre-selling tokens to Union Square Ventures, Comcast, Venrock, Andreessen Horowitz’s Chris Dixon, and YouTuber Casey Neistat, so it isn’t raising any money with the RegA+ by selling its tokens like Blockstack. Instead, users earn or ‘mine’ Props by engaging with apps like YouNow, which will award the tokens for creating broadcasts, watching videos, and tipping creators. Having more Props entitles YouNow’s 47 million registered users bonus features, VIP status,

How Props Work
Props YouNow

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India’s Android antitrust case against Google may have some holes


This post is by Manish Singh from TechCrunch


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India ordered an investigation into Google’s alleged abuse of Android’s dominance in the country to hurt local rivals in April. A document made public by the local antitrust watchdog has now further revealed the nature of the allegations and identified the people who filed the complaint.

Umar Javeed, Sukarma Thapar, two associates at Competition Commission of India — and Aaqib Javeed, brother of Umar who interned at the watchdog last year, filed the complaint, the document revealed. The revelation puts an end to months-long interest from industry executives, many of whom wondered if a major corporation was behind it.

The allegations

The case, filed against Google’s global unit and Indian arm on April 16 this year, makes several allegations including the possibility that Google used Android’s dominant position in India to hurt local companies. The accusation is that Google requires handset and tablet vendors to pre-install its own applications or services if

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FCC proposal would let it punish international robocallers


This post is by Devin Coldewey from TechCrunch


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While the FCC and Congress hammer out new rules to (hopefully) banish robocalls forever, there are some short-term solutions that can help in the meantime — and one may arrive in just a few weeks. A new FCC proposal allows the agency to go after scam calls that originate overseas or use other methods to evade existing spoofing laws.

The rule isn’t exactly new in that it is a follow-up to Ray Baum’s Act, which was passed last year and, among other things, bulked up the Truth in Caller ID Act.

Previously, the latter law prohibited scammy spoofing of numbers, a practice that makes robocalling much easier — but it only applied to calls originating in the country. That opened up a huge loophole for scammers, who are not short on means to make calls internationally. Ray Baum’s Act modifies those rules to specifically prohibit international spoofing, as well as

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Grasshopper’s Judith Erwin leaps into innovation banking


This post is by Gregg Schoenberg from TechCrunch


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In the years following the financial crisis, de novo bank activity in the US slowed to a trickle. But as memories fade, the economy expands and the potential of tech-powered financial services marches forward, entrepreneurs have once again been asking the question, “Should I start a bank?”

And by bank, I’m not referring to a neobank, which sits on top of a bank, or a fintech startup that offers an interesting banking-like service of one kind or another. I mean a bank bank.

One of those entrepreneurs is Judith Erwin, a well-known business banking executive who was part of the founding team at Square 1 Bank, which was bought in 2015. Fast forward a few years and Erwin is back, this time as CEO of the cleverly named Grasshopper Bank in New York.

With over $130 million in capital raised from investors including Patriot Financial and T. Rowe Price

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ICE mined driver’s license photos from 21 states for facial recognition


This post is by Zack Whittaker from TechCrunch


Click here to view on the original site: Original Post




U.S. Immigration and Customs Enforcement are using facial recognition software to trawl through millions of driver’s license photos provided by 21 states to search and find suspects.

News broke over the weekend that the FBI and immigration officials access images — often without obtaining a search warrant or court order — in order to identify criminal suspects but also witnesses, victims and innocent bystanders. In some cases agents would simply email the state department of motor vehicles for assistance.

But Congress nor state lawmakers ever authorized the access or the searches. A bipartisan group of congresspeople have criticized the use of facial recognition as dangerous to citizens’ right to privacy.

Several states, like New York, and the District of Columbia, allow undocumented immigrants to obtain driver’s licenses, with other states — like Florida and Texas — working to introduce similar laws.

Documents obtained by a public records request and

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The startups creating the future of RegTech and financial services


This post is by Danny Crichton from TechCrunch


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Technology has been used to manage regulatory risk since the advent of the ledger book (or the Bloomberg terminal, depending on your reference point). However, the cost-consciousness internalized by banks during the 2008 financial crisis combined with more robust methods of analyzing large datasets has spurred innovation and increased efficiency by automating tasks that previously required manual reviews and other labor-intensive efforts.

So even if RegTech wasn’t born during the financial crisis, it was probably old enough to drive a car by 2008. The intervening 11 years have seen RegTech’s scope and influence grow.

RegTech startups targeting financial services, or FinServ for short, require very different growth strategies — even compared to other enterprise software companies. From a practical perspective, everything from the

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Image recognition, mini apps, QR codes: how China uses tech to sort its waste


This post is by Rita Liao from TechCrunch


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China’s war on garbage is as digitally savvy as the country itself. Think QR codes attached to trash bags that allow a municipal government to trace exactly where its trash comes from.

On July 1, the world’s most populated city Shanghai began a compulsory garbage sorting program. Under the new regulations (in Chinese), households and companies must classify their wastes into four categories and dump them in designated places at certain times. Noncompliance can lead to fines. Companies and properties that don’t comply risk having their credit rating lowered.

The strict regime became the talk of the city housing over 24 million residents, who criticized the program’s inflexibility and confusing waste categorization. Gratefully, China’s tech startups are here to help.

For instance, China’s biggest internet companies responded with new search features that help people identify what wastes are “wet” (compostable), “dry”, “toxic”, or “recyclable”. Not even the most environmentally conscious

wechat garbage sorting
shanghai garbage

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Why you should naturalize — now, not later


This post is by Arman Tabatabai from TechCrunch


Click here to view on the original site: Original Post




It’s no secret that America thrives on tech-savvy immigrants who put down permanent roots: Three in five of the country’s biggest tech companies — Apple, Facebook, and Google among them — were founded by first- or second-generation immigrants.

Those giants combined boast a market cap of over $4 trillion and employ nearly two million workers. Considering such clear economic benefits, you’d expect an efficient, straightforward process for turning America’s tech-savviest new arrivals into U.S. citizens.

But that’s not the case. Naturalizing has only gotten harder and more expensive in recent years. And because of those barriers, even immigrants who manage to secure U.S. permanent residence often stop short of officially becoming U.S. citizens. In fact, a third of citizenship-eligible green card holders, or around 9.3 million people, have yet to apply.

If you’re among that group, don’t wait to take the final step of your immigration journey.

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