Sumo Logic has axed 8% of its workforce less than a month after Francisco Partners paid $1.7 billion to take the data analytics vendor private. The company told California's Economic Development Department on June 7 that it would lay off 79 staff at its Silicon Valley headquarters the following day.
European lawmakers on Wednesday voted overwhelmingly in favor of restrictions for the artificial intelligence industry, approving a regulatory package obliging generative AI model makers to mitigate societal risks and banning a slew of applications, such as biometric recognition in public places.
Each year, billions of dollars are transferred in and out of money mule accounts to support a variety of money laundering schemes. But banks are now using machine learning and AI more effectively to spot mule accounts. Two experts shared the latest approaches and tools for beefing up AML programs.
Hackers hit the e-commerce industry with 14 billion attacks in 15 months, pushing it to the top of the list of targets for web application and API exploits. A new Akamai report blames digitalization and the wide range of vulnerabilities hackers can exploit in web applications.
Expel has axed 60 workers just eight months after hauling in $31 million to provide the managed detection and response vendor with a financial cushion. The company will reduce its 600-person staff by 10% - or 60 people - in response to "many shifts in the market," the co-founders wrote in a blog.
U.S. federal prosecutors accused two Russian nationals of carrying out the heist that provoked the 2014 collapse of cryptocurrency trading exchange Mt. Gox, then the world's largest crypto platform. One of them used the proceeds to co-found BTC-e, a now-shuttered crypto money laundering platform.
Moore Strategic Ventures led a $33 million investment into a military and transportation security startup founded by officers who stood up U.S. Army Cyber Command. The funds will help Shift5 expand from safeguarding military vehicles to protecting commercial modes of transportation.
Martin Roesch, CEO of Netography, discusses the company's platform, which is for dispersed, ephemeral, encrypted and diverse - what he refers to as "DEED" - environments. DEED works with the multi-cloud, hybrid and on-premises, IT and OT environments that modern large enterprises have today.
Ransomware hackers are stretching the concept of code reuse to the limit as they confront the specter of diminishing returns for extortionate malware. In their haste to make money, some new players are picking over the discarded remnants of previous ransomware groups.
This week: A U.S. federal court issued a summons to Binance CEO Changpeng Zhao, Lazarus may be behind the $35 million Atomic Wallet heist, and Manhattan prosecutors seized a scam crypto recovery website. Also, the Blockchain Association weighs in on Tornado Cash, and crypto security attacks decline.
The Biden administration stepped up regulatory enforcement against cryptocurrency trading platforms in consecutive lawsuits targeting Binance and Coinbase for alleged violations of securities laws. "We already have digital currency. It's called the U.S. dollar," said U.S. SEC Chairman Gary Gensler.
With the federal government's software bill of materials regulations looming, many organizations are not ready to respond, warned CISO Sean Atkinson of the Center for Internet Security. He provided tips for ensuring transparency in the software supply chain and preparing for SBOM regulations.
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