Risk News

Snowden leaks furor still spilling over into courts

"Nearly three years after former NSA contractor Edward Snowden first leaked details about massive domestic spying, his revelations have prompted a broader discourse, especially among legal scholars, over the potentially invasive nature of big data cybersurveillance tools."

Annie's take:

Snowden's leaks still have a large impact on both legal and private discourse over surveillance.

Is There Progress on Financial Workplace Misconduct?

"I’m speaking on ethical misconduct next month at the 18th annual OpRisk North America conference in New York."

Annie's take:

I wish there were more progress to report.

Don’t Break Up the Banks. They’re Not Our Real Problem.

"In the movie “The Big Short,” Steve Carell plays a slightly altered version of me. In real life, I am a portfolio manager and financial services analyst who over a 25-year career has, at times, been highly critical of bank behavior."

Annie's take:

A very strong piece of writing, including an excellent reprise of how bankers and overinflated expectations got us to this point. He does not blame bankers for income inequality, but there is no doubt that matters have become exponentially harder for those at the bottom of the economy.

Fining Bankers, Not Shareholders, for Banks’ Misconduct

"Ho-hum, another week, another multimillion-dollar settlement between regulators and a behemoth bank acting badly."

Annie's take:

I do believe we are on to something here. This piece, together with an opinion piece today by Steve Eisman, are relevant to the column I am just finishing for tomorrow's issue of ASA News & Notes.

Twitter Steps Up Efforts to Thwart Terrorists’ Tweets

"For years, Twitter has positioned itself as a “global town square” that is open to discourse from all."

Annie's take:

At a time when it's struggling to continue to grow, it's admirable that the CEO is allocating more resources to this effort.

NSA merging anti-hacker team that fixes security holes with one that uses them

"US spies will have to choose between keeping hackers out or acting like them to gather intelligence, going against recommendation of computer security experts."

Annie's take:

There must be some unstated reason for this merger of teams. On the surface, it is counterintuitive and makes no sense.

EU and US reach new data-sharing agreement

"The European Union and the United States struck a deal Tuesday over data-sharing that will allow the likes of Facebook and Apple to continue sending people's information across the Atlantic — but a legal challenge to the pact is widely anticipated."

Annie's take:

A safe harbor with teeth -- but surely we will see this going to court, both here and abroad.

When Will the United States Have a National Cyber Incident Response Plan?

"As the growth in the capability and sophistication of cyber bad actors continues to threaten national and economic security in the United States, confusion reigns and a lack of clarity exists as to who is in charge and how to deal with a significant cyber event that could become an incident of national or even global consequence."

Annie's take:

How hard can this really be, especially when the feds expect that all critical infrastructure companies have a cyber incident response plan in place? This seems an ideal partnership opportuntity for wicked smart private sector actors to partner with the federal government to bring the plan (published or not) to fruition.

At Berkeley, a New Digital Privacy Protest

"After hackers breached the computer network of the U.C.L.A. medical center last summer, Janet Napolitano, president of the University of California, and her office moved to shore up security across the university system’s 10 campuses."

Annie's take:

It will be interesting to watch this play out. Exactly what traffic is being monitored and why?

Harvard study refutes 'going dark' argument against encryption

"A study from Harvard released Monday largely refutes claims that wider use of encryption in software products will hamper investigations into terrorism and crime."

Annie's take:

An extremely sensible study, pointing out what is in many cases the obvious.