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TAC Security becomes authorised assessor for Google’s MASA programme

TCN Bureau
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TAC Security becomes authorised assessor for Google’s MASA programme
  • MASA programme aims to enhance transparency and security within mobile applications, addressing the critical need for developers to comply with stringent security protocols.

TAC Security, a leader in the cybersecurity sector, has recently attained a significant milestone by becoming an authorised assessor for Google’s Mobile Application Security Assessment (MASA) programme

The achievement distinctly positions TAC Security as both a pioneer and a key player in the evolving landscape of mobile application security, bolstered by its previous designation as the preferred assessor for Google’s Cloud Application Security Assessment (CASA) programme.

With over 3.5 million applications available on the Google Play Store, the MASA programme aims to enhance transparency and security within mobile applications, addressing the critical need for developers to comply with stringent security protocols.

Safeguarding app integrity

The partnership with Google not only amplifies TAC Security’s role in safeguarding app integrity but also provides developers with a pathway to identify and rectify vulnerabilities effectively.

By offering an independent security review, which culminates in the awarding of a security badge, TAC Security can enhance user confidence in applications, thereby potentially increasing download rates.

The strategic partnership emerges during a period of expansive growth for TAC Security, further illustrated by its recent global acquisitions in the United States and the UAE.

Trishneet Arora, the Founder and CEO of TAC Security, highlights this evolution, stating that the MASA programme not only opens avenues for significant client acquisitions but also promises improved profit margins due to the premium nature of MASA assessments.

With projections indicating an opportunity to engage with over 10,000 developers monthly, TAC Security is poised to leverage this partnership to enhance its market presence.

Furthermore, this initiative aligns with TAC Security’s ambitious vision to become the world’s largest vulnerability management firm by 2026.

The focus on security compliance and the enhancement of user privacy resonates with contemporary demands for higher standards in data protection, especially as user privacy increasingly occupies the forefront of public discourse.

Consequently, non-compliant applications risk stringent enforcement actions, including removal from the Play Store, underscoring the vital importance of robust security measures.

5G to contribute $450b to India’s economy by 2040

Mohammed Fahad
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5G to contribute $450b to India’s economy by 2040
  • Scindia calls for global collaboration in setting standards and fostering partnerships is a crucial step toward shaping a technological landscape that serves as a force for good.
  • Swift rollout signifies not only technological advancement but also the unlocking of new opportunities across various sectors, including healthcare, education, agriculture, and manufacturing.
  • Integration of AI and IoT into our digital landscape presents significant potential for positive change.

The advent of 5G technology marks a significant milestone in India’s technological landscape, with Union Minister of Communications Jyotiraditya Scindia projecting a remarkable contribution of $450 billion to the nation’s economy by 2040.

Speaking at the Global Standards Symposium in New Delhi, Scindia articulated the multifaceted benefits of 5G, emphasising that its implications extend well beyond enhanced internet speeds and reduced latency.

5G is poised to serve as the bedrock for transformative initiatives such as smart cities, advanced infrastructure, and autonomous innovations.

Setting standards is vital

Scindia’s remarks underscore the rapid deployment of 5G across the country, which has reached 98 per cent of districts and 80 per cent of the population within a mere 22 months.

This swift rollout signifies not only technological advancement but also the unlocking of new opportunities across various sectors, including healthcare, education, agriculture, and manufacturing.

Moreover, Scindia highlighted the critical importance of international collaboration in maximising the potential of emerging technologies such as 5G, artificial intelligence (AI), and the Internet of Things (IoT). He emphasised that establishing international standards is vital for ensuring the seamless integration of these technologies across borders.

The need for dialogue and cooperation among nations cannot be overstated, as these technologies have the potential to transform industries and societies globally.

In addressing the ethical considerations associated with emerging technologies, Scindia called for robust governance frameworks to mitigate concerns related to privacy, bias, and transparency.

He advocated for a comprehensive policy approach that ensures equitable access to innovations, particularly as the world transitions toward the upcoming 6G technology.

This approach is essential to prevent the exacerbation of existing digital divides and to promote inclusivity.

Minister Scindia emphasised that the governance of AI and the Internet of Things (IoT) must not be relegated to an “afterthought.”

He underscored the importance of prioritizing privacy, bias, and transparency, arguing that addressing these issues is imperative to harnessing AI as a “force for good.”

These assertions align with growing global discourse on the ethical implications of AI technology, highlighting the necessity for safeguards that protect individuals and communities from the inherent risks posed by automated systems.

Dual nature of AI

The Minister’s remarks bring to light the dual nature of AI; while it indeed reshapes the way information is processed and enhances agility, precision, and scalability, the deployment of such transformative technologies must be approached with caution.

Furthermore, International Telecommunication Union (ITU) Secretary-General Doreen Bogdan-Martin underscored the critical role of standards in this discourse.

She posited that standards are not merely technical specifications; rather, they are fundamental to driving innovation and interoperability, thereby ensuring that AI technologies are deployed safely and effectively.

AI advancements could pose substantial ‘financial stability risks’

Ana Mary Joseph
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AI advancements could pose substantial ‘financial stability risks’
  • One of the primary concerns is the potential for concentration risks, as a few dominant technology providers might control a disproportionate share of the market.
  • It may also introduce vulnerabilities, such as heightened exposure to cyberattacks and data breaches, which could compromise the integrity of financial systems.
  • Financial sector urged to prioritise the establishment of adequate risk mitigation practices to navigate the challenges posed by these technological advancements and ensure sustained stability in the global economy.

The increasing integration of artificial intelligence (AI) and machine learning in global financial services offers significant opportunities for enhancement in customer experience, operational efficiency, and risk management.

However, as highlighted by Shaktikanta Das, the Governor of the Reserve Bank of India, this technological advancement also presents substantial financial stability risks that cannot be overlooked.

One of the primary concerns is the potential for concentration risks, as a few dominant technology providers might control a disproportionate share of the market.

This concentration could precipitate systemic risks; a failure in one major system could have ripple effects throughout the financial sector, threatening overall stability.

Market volatility

The reliance on AI also introduces vulnerabilities, such as heightened exposure to cyberattacks and data breaches, which could compromise the integrity of financial systems.

Moreover, the inherent opacity of AI algorithms complicates the process of auditing and interpreting the decisions made by these systems.

Such complexity can lead to unforeseen consequences in the financial markets, underscoring the urgent need for robust risk mitigation measures within banks and financial institutions.

The unpredictable nature of algorithm-driven outcomes can exacerbate market volatility and undermine stakeholder confidence.

Das further emphasises the impact of divergent global monetary policies, which may contribute to instability in capital flows and exchange rates. Such fluctuations can disrupt the delicate balance of financial stability, particularly in a landscape where private credit markets have expanded rapidly with minimal regulatory oversight.

The lack of stress-testing in these markets poses an additional threat, as they remain unprepared for potential downturns.

Hacker demands $68,000 ransom after Star Health data leak

Mohammed Fahad
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Hacker demands $68,000 ransom after Star Health data leak
  • Telegram reluctant to share account details or to permanently ban accounts associated with the hacker, even after multiple notifications.
  • Star Health seeks assistance from Indian cybersecurity authorities to help trace and apprehend the perpetrator.

Star Health and Allied Insurance Co. Ltd, India’s largest health insurer, disclosed on Saturday that the hacker had demanded a ransom of $68,000 in August.

The demand was communicated via email directed to the company’s managing director and chief executive. The revelation underscores the severity of the situation, as the company now faces the dual challenges of addressing the fallout from the data leak while also contending with the threat of extortion.

The health insurer is currently grappling with a significant cybersecurity crisis following a data breach that has compromised sensitive customer information.

Shares take beating

The incident, which came to public attention on September 20, revealed that a hacker had exploited Telegram chatbots and a dedicated website to leak personal data, including tax details and medical claim documents.

The breach has not only endangered customer privacy but has also led to a sharp decline in the company’s stock value, which has dropped by 11 per cent and closed the week at Rs547.6 per cent.

The company has responded proactively by initiating internal investigations and pursuing legal action against both the hacker, identified as “xenZen,” and Telegram, the platform used for the data dissemination.

Ongoing probe

Despite these efforts, Telegram has been reluctant to cooperate fully, having declined to share account details or to permanently ban the accounts associated with the hacker, even after multiple notifications from Star Health.

Amidst the turmoil, Star Health has sought assistance from Indian cybersecurity authorities to help trace and apprehend the perpetrator. The company has also faced scrutiny regarding the potential involvement of its chief security officer, Amarjeet Khanuja, in the data breach.

However, Star Health has maintained that its internal investigation has found no evidence of wrongdoing on Khanuja’s part, though the inquiry remains ongoing.

India becomes key supplier of restricted technology to Russia

Ana Mary Joseph
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India becomes key supplier of restricted technology to Russia
  • Exports reportedly exceeded $60m in both April and May and reached $95m in July.
  • India’s rising role as a second-biggest supplier presents a multifaceted challenge for international community.
  • About one-fifth of the sensitive technologies fueling Russia’s military-industrial complex now originate from India.

India has emerged as a significant supplier of restricted critical technologies to Russia, a development that poses challenges for Western nations seeking to limit Moscow’s military capabilities amid the ongoing conflict in Ukraine.

According to US and European officials, Indian exports of sensitive items, including microchips, circuits, and machine tools, have surged dramatically. These exports reportedly exceeded $60 million in both April and May and reached $95 million in July, positioning India as the second-largest supplier of such technologies to Russia, trailing only China.

The trend is particularly concerning for Ukraine’s allies, who have expressed frustration over India’s apparent indifference to their concerns regarding these exports. Despite diplomatic efforts to address the issue, Indian officials have largely remained unresponsive, and the Ministry of External Affairs has declined to comment on the matter.

The implications of this development are profound, as it is estimated that nearly one-fifth of the sensitive technologies fueling Russia’s military-industrial complex now originate from India.

The complexities surrounding this situation are further compounded by the geopolitical landscape. While the United States and the European Union have focused their efforts on restricting direct exports of dual-use technologies to Russia, the Kremlin has adeptly navigated these sanctions by sourcing materials from third countries, including India, Malaysia, and Thailand.

The shift underscores the difficulties faced by Western policymakers in curtailing Russia’s military capabilities nearly two and a half years after the invasion of Ukraine.

India’s burgeoning role as a transshipment point for restricted technologies is particularly troubling for Western officials, who are simultaneously keen on fostering partnerships with Prime Minister Narendra Modi’s government.

Despite India’s growing ties with Russia, particularly in the realm of energy—where it has become a leading buyer of Russian oil—Western nations are under pressure to ensure that Indian firms do not inadvertently support Russia’s military efforts.

The financial dynamics at play, particularly the accumulation of rupees by Russia from oil sales, have further incentivized this trade. As Indian firms continue to engage with the Russian military-industrial base, US and European sanctions agencies have intensified their scrutiny, warning Indian businesses of the risks associated with such dealings.

In a recent communication, US Deputy Treasury Secretary Wally Adeyemo cautioned the Confederation of Indian Industry about the potential sanctions risks faced by companies involved in these transactions.

Consumer watchdog takes class action against Ola in India

Ana Mary Joseph
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Consumer watchdog takes class action against Ola in India
  • Consumers report instances of overcharging, unsatisfactory service during the warranty period, and failures in providing necessary refunds and documentation.
  • Notice serves as a formal warning, providing the company with a 15-day period to respond and address the allegations of unfair trade practices and misleading claims.

The actions taken by the Central Consumer Protection Authority (CCPA) in India against Ola Electric highlight significant concerns regarding consumer rights, particularly in the burgeoning electric vehicle sector.

Following over 10,000 complaints lodged with the National Consumer Helpline (NCH) over the past year, the CCPA has initiated a class action against the electric two-wheeler manufacturer, citing alleged deficiencies in service and misleading claims.

The complaints received by the NCH encompass a wide array of issues, including inadequate after-sales service, delayed warranty responses, and recurrent defects in the vehicles.

Consumers have reported instances of overcharging, unsatisfactory service during the warranty period, and failures in providing necessary refunds and documentation.

These grievances reflect a troubling trend of neglect in addressing consumer concerns, which has prompted the CCPA to step in and examine the matter more closely.

Creating fair marketplace

The CCPA’s decision to issue a show cause notice to Ola Electric is a crucial step in enforcing consumer rights. It underscores the authority’s commitment to holding companies accountable for their obligations towards consumers.

The notice serves as a formal warning, providing the company with a 15-day period to respond and address the allegations of unfair trade practices and misleading claims.

Such regulatory actions are essential in maintaining a fair marketplace, particularly in industries experiencing rapid growth and innovation.

Furthermore, the role of the NCH in facilitating consumer grievance redressal cannot be overstated. The revamped helpline, which allows consumers to register complaints through multiple channels, exemplifies a proactive approach to consumer protection.

It empowers individuals by providing them with accessible means to voice their concerns and seek resolutions, thereby fostering a culture of accountability among businesses.

The ongoing discourse surrounding Ola Electric, particularly the recent public exchanges between the company’s founder and critics, highlights the broader implications of consumer dissatisfaction.

It serves as a reminder that in an era of technological advancement, companies must prioritize customer service and product quality to retain consumer trust and loyalty.

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