Archive for the ‘finance’ category: Page 4

Feb 20, 2024

Gene Therapy Makers Struggle to Find Patients for Miracle Cures

Posted by in category: finance

BioMarin’s hemophilia treatment had only one US patient last year, as drug pioneers discover that scientific achievement doesn’t guarantee financial success.

Feb 20, 2024

Anatsa Android malware downloaded 150,000 times via Google Play

Posted by in categories: cybercrime/malcode, finance, mobile phones

The Anatsa banking trojan has been targeting users in Europe by infecting Android devices through malware droppers hosted on Google Play.

Over the past four months, security researchers noticed five campaigns tailored to deliver the malware to users in the UK, Germany, Spain, Slovakia, Slovenia, and the Czech Republic.

Researchers at fraud detection company ThreatFabric noticed an increase of Anatsa activity since November, with at least 150,000 infections.

Feb 16, 2024

A new design for quantum computers

Posted by in categories: computing, encryption, finance, quantum physics

Creating a quantum computer powerful enough to tackle problems we cannot solve with current computers remains a big challenge for quantum physicists. A well-functioning quantum simulator—a specific type of quantum computer—could lead to new discoveries about how the world works at the smallest scales.

Quantum scientist Natalia Chepiga from Delft University of Technology has developed a guide on how to upgrade these machines so that they can simulate even more complex quantum systems. The study is now published in Physical Review Letters.

“Creating useful quantum computers and is one of the most important and debated topics in quantum science today, with the potential to revolutionize society,” says researcher Natalia Chepiga. Quantum simulators are a type of quantum computer. Chepiga explains, “Quantum simulators are meant to address open problems of quantum physics to push our understanding of nature further. Quantum computers will have wide applications in various areas of social life, for example, in finances, encryption, and data storage.”

Feb 14, 2024

DarkMe Malware Targets Traders Using Microsoft SmartScreen Zero-Day Vulnerability

Posted by in categories: cybercrime/malcode, finance

Hackers are exploiting a ZERO-DAY flaw in Microsoft Defender SmartScreen to deliver DarkMe malware. This sophisticated attack can steal your data and give hackers access to your financial accounts.

Feb 13, 2024

XTURISMO — The World’s First Hoverbike Takes First Flight In The U.S.

Posted by in categories: business, cryptocurrencies, finance, transportation

1 year ago.

#HoverBike #XTURISMO #FirstHoverBike #US #Detroit The hoverbike was tried and tested by none other than the Co-Chairman of the Detroit Motor Show himself. His reaction after the flight… just like that of a 15-year-old child fulfilling a dream. The hoverbike is already on sale in the country. Watch this report to know more. ———————– About the channel Watch us for the best news and views on business, stock markets, crypto currencies, consumer technology, the world of real estate, bullion, automobiles, start-ups and unicorns and personal finance. Business Today TV will also bring you all you need to know about mutual funds, insurance, loans and pension plans among others. Follow us at: Website: Facebook: / businesstoday twitter: / business_today Instagram: / business_today.

Feb 11, 2024

Hackers Steal $25 Million by Deepfaking Finance Boss

Posted by in categories: cybercrime/malcode, finance

A multinational company was scammed out of $25.6 million by hackers who fooled employees at the company’s Hong Kong branch into believing their digital recreation of its chief financial officer — as well as several other video conference participants — were real.

The hack, believed to be the first of its kind, highlights just how far deepfake technology has progressed.

As the South China Morning Post reports, scammers are believed to have used publicly available footage to create deepfake representations of the staff. Some of the fake video calls apparently only had a single human on the line, with the rest being deepfakes created by the hackers.

Feb 8, 2024

Futuristic Finance: AI’s Seductive Power In Reshaping Private Equity

Posted by in categories: finance, information science, robotics/AI

In the dynamic and fast-paced world of private equity, AI integration is not just a passing trend; it’s a transformative force reshaping the landscape of the industry. As firms navigate the complexities of investments, market analysis, and financial predictions, AI emerges as a beacon of efficiency, insight, and innovation.

Currently, AI’s integration in private equity is impressive but not expansive. Most firms primarily focused on data analysis, deal sourcing, and risk assessment. Firms like KKR & Co. and Blackstone pioneered this industry revolution, leveraging AI to analyze market trends, evaluate potential investments, and enhance decision-making processes. For instance, consider how AI algorithms process vast amounts of data to identify promising investment opportunities. By sifting through global financial reports, news, and company data, AI provides a deeper understanding of risks and rewards, at level of volume and understanding that most human analysts would find overwhelming.

Additionally, private equity firms find AI-driven risk assessment models indispensable. These models predict market fluctuations, assess potential investment hazards, and offer a more nuanced understanding of various sectors. This predictive power allows firms to make more informed decisions, balancing risks with potential returns more effectively.

Feb 6, 2024

The next wave of fraud should frighten banks and crypto firms alike

Posted by in categories: finance, robotics/AI, security

It’s possible the OnlyFake owner is exaggerating, and it’s also worth noting that counterfeiting documents is nothing new. The difference here, though, is that the firm’s software is capable of cranking out hundreds of fake, but very real looking, IDs. It feels like it’s a matter of time before both banks and crypto firms alike are swamped by a wave of bots seeking to open accounts that possess convincing fake IDs.

You can add to this an impending wave of AI-based tools that will be used to overcome the anti-fraud measures, such as voice-based authentication, used by banks and others. We are also seeing AI being used to carry out audacious new forms of robbery—including the jaw-dropping story this week of a criminal gang that persuaded some poor employee in Hong Kong to transfer $25 million of company funds during a Zoom meeting. It turned out that all the members on the Zoom call were AI-generated replicas of the employee’s boss and coworkers.

Feb 4, 2024

Finance worker pays out $25 million after video call with deepfake ‘chief financial officer’

Posted by in category: finance

A finance worker at a multinational firm was tricked into paying out $25 million to fraudsters using deepfake technology to pose as the company’s chief financial officer in a video conference call, according to Hong Kong police.

The elaborate scam saw the worker duped into attending a video call with what he thought were several other members of staff, but all of whom were in fact deepfake recreations, Hong Kong police said at a briefing on Friday.

“(In the) multi-person video conference, it turns out that everyone [he saw] was fake,” senior superintendent Baron Chan Shun-ching told the city’s public broadcaster RTHK.

Feb 3, 2024

Mastercard’s new anti-fraud AI has a success rate of up to 300%

Posted by in categories: business, finance, information science, robotics/AI

Mastercard has announced that it has developed an in-house generative AI to help combat fraud on its payment processing network.

Instead of relying on textual inputs, Mastercard’s algorithm uses a cardholder’s merchant visit history as a prompt to determine whether a transaction involves a business that the customer would likely visit. The algorithm generates pathways through Mastercard’s network, akin to heat-sensing radar, to provide a score as an answer.

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