August 2024 - Page 46 of 93

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2024

Unraveling million cyber scam originating in Russia

Unraveling $93 million cyber scam originating in Russia

Vladislav Klyushin amassed a fortune using illicitly obtained financial data, with earnings at one point exceeding $3 million in cash, neatly stacked in a high-security safe. In just under three years, Klyushin and his operation successfully stole more than $93 million. Operating through M-13, a company ostensibly focused on cybersecurity, Klyushin and his team of Russian hackers used their position to steal confidential corporate reports from U.S. companies before they were made public. Using this stolen information, they executed timely trades in stocks of major companies like Skechers, Snapchat, and Roku, reaping huge profits. Vladislav Klyushin now faces a nine-year…

Aug

19

2024

By Lily Chang

California moves forward with legislation to establish artificial intelligence security standards

Science and Technology

In a significant move, the California State Assembly’s Appropriations Committee on Thursday approved a revised version of the artificial intelligence regulatory bill, known as SB 1047. The legislation seeks to establish groundbreaking safety protocols for AI technologies, requiring companies to conduct extensive safety testing before these technologies are introduced to consumers. The bill, which is now inching closer to becoming law, would authorize the California attorney general to take legal action against companies whose AI systems cause substantial harm, such as serious property damage or loss of life. The proposed regulations have sparked heated debate among tech elites, academics, and…

Aug

19

2024

By Lily Chang

Global Briefing: Tom Cruise’s Olympic rise; Dave Stewart talks to Breaking Baz; Entertainment’s role in UK protests

Culture and Entertainment

In this week’s international roundup, we dive into three compelling stories that highlight the intersection of entertainment and social movements, starting with Hollywood icon Tom Cruise’s surprising involvement in Olympic promotion. Tom Cruise's Olympic Efforts Tom Cruise, traditionally known for his blockbuster roles and daring stunts, recently made a major career move by getting involved in the Olympic movement. His involvement in promotional activities has not only raised eyebrows, but has also significantly increased interest in the upcoming Olympic Games. Cruise's involvement is said to combine his filmmaking talent with a genuine passion for the sport, helping to raise the…

Aug

19

2024

By Lily Chang

Klarna introduces personal banking and reward incentives as it prepares for IPO

Investments and Business

Klarna, a leading fintech known for its innovative “buy now, pay later” services, is further venturing into the realm of traditional banking by introducing a personal account feature and cashback system to improve customer engagement and loyalty. Announced Thursday, the initiatives are part of Klarna’s strategic move to challenge conventional retail banking and move consumer financial activities onto its platform. The newly revealed features, designed to simplify payment management and increase customer purchase frequency, were highlighted by CEO Sebastian Siemiatkowski in a discussion with CNBC. According to Siemiatkowski, these offerings are geared toward supporting everyday financial activities, allowing consumers to…