Global security crackdown, a host of code nasties, Brit cops mocked, and more

Here's a summary of this week's security news beyond what we've already reported. At the Munich Security Conference in Germany, major companies, including Siemens, Airbus, Allianz, Daimler Group, IBM, NXP, SGS and Deutsche Telekom, signed a Charter of Trust for cybersecurity. The signatories were joined by Elżbieta Bieńkowska …

[Anonymous Coward]

Bitcoin can be converted to Monero later though

As the recent NEM coin theft example below shows. Sadly and reluctantly we must accept that just as some refer to the 'Internet' as 'Facebook', 'Crypto' may be termed 'Bitcoin' for ever.....

https://www.bloomberg.com/news/articles/2018-01-29/how-to-launder-500-million-in-digital-currency-quicktake-q-a

[Anonymous Coward]

Re: Bitcoin can be converted to Monero later though

Better coins exist.

Go on, name them so we can point and laugh at you.

[Ken Moorhouse]

Re: 'Crypto' may be termed 'Bitcoin' for ever.....

Laundering will always be done with a Hoover.

[Mark 85]

Re: 'Crypto' may be termed 'Bitcoin' for ever.....

Hoover? A vacuum cleaner for laundering?

[Prst. V.Jeltz]

Re: 'Crypto' may be termed 'Bitcoin' for ever.....

"genericide"

http://www.bbc.co.uk/news/business-27026704

[Mark 85]

Re: 'Crypto' may be termed 'Bitcoin' for ever.....

Ah.. got it now. Then "Hoover" should be lower cased for the generic as "hoover"?

[Ken Moorhouse]

Re: Hoover? A vacuum cleaner for laundering?

You've never seen one of these before:-

https://www.which.co.uk/reviews/washing-machines/article/which-washing-machine-brand/hoover-washing-machines-rated

[Anonymous Coward]

Re: "the biggest money laundering scheme ever invented."

Bigger than the US government ? Wow ....

[Anonymous Coward]

'Building in not only security but also ---- [INSERT WORD HERE] ---- to all IOT devices'

Getting tired of never ever seeing 'Privacy' included in the list of IoT things that need to be fixed. When Privacy is mentioned, its usually just a token nod, not a real 'actionable item'! Every corp wants to be slurpy & addictive & successful like Facebook! Is there no other business models anymore?

[Steve Jackson]

Re: 'Building in not only security but also ---- [INSERT WORD HERE] ---- to all IOT devices'

You make a good point, but I wept at the last sentence.

[BebopWeBop]

and some boffins made weaponized exploit code to exploit the weakness (don't worry – the code is under wraps).

Well that fills me with confidence

[JeffyPoooh]

CIOs at the Munich Security Conference in Germany

While they're in Germany, they should visit the CCC.de and review a few dozen hacker presentations (vidoes of Chaos Computer Club conference presentations with the usual ppt slides and demos).

Anyone making decisions affecting IT security should at least be fully aware of, and up to date about, the sort of amazing approaches that are being used by hackers.

It only requires an hour or so to reach the 'ah ha' moment, and then another few evenings to achieve 'Oh. My. Gawd.'. Then you'll be a much better CIO.

[Anonymous Coward]

And NOW that the

"blueprints" are readily available, I trust banks and ATM manufacturers are provisioning for their devices to be updated to mitigate these attacks?

Of course they aren't. The losses incurred will be a fraction of the cost of updating the machines.

Besides, banks refund for fraudulent transactions, not ATMs.