Lifeboat Foundation

• Fraud detection techniques mostly stem from the anomaly detection branch of data science.
• If the dataset has sufficient number of fraud examples, supervised machine learning algorithms for classification like random forest, logistic regression can be used for fraud detection.
• If the dataset has no fraud examples, we can use either the outlier detection approach using isolation forest technique or anomaly detection using the neural autoencoder.
• After the machine learning model has been trained, it’s evaluated on the test set using metrics such as sensitivity and specificity, or Cohen’s Kappa.

With global credit card fraud loss on the rise, it is important for banks, as well as e-commerce companies, to be able to detect fraudulent transactions (before they are completed).

According to the Nilson Report, a publication covering the card and mobile payment industry, global card fraud losses amounted to $22.8 billion in 2016, an increase of 4.4% over 2015. This confirms the importance of the early detection of fraud in credit card transactions.

Global Quantum Secure Communication market analysis mainly introduces the changing market dynamics in terms of covering all details inside analysis and opinion, volume and value market share by players, by regions, by product type, by consumers and their price change details, cost/revenue structure. Additionally, the analysis of Global Quantum Secure Communication offers a detailed breakdown of key market growth drivers and limitation along with impact analysis of the same.

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Metallicus, the startup behind the peer-to-peer payments platform Metal Pay, received an undisclosed angel investment from the youngest bitcoin millionaire, Erik Finman.

In partnership with Metal Pay CEO Marshall Hayner, the two look to develop the first “all-in-one” cryptocurrency banking platform, which includes a 17 digital asset exchange, a digital bank and a payments application with social features similar to Venmo.

Founded in September, Metal Pay has processed approximately $11 million in total payments from nearly 130,000 registered users across 38 states. On a monthly basis, the company processes $1 million in crypto or fiat for around 30,000 active users, according to Hayner.

While solar and wind power are rapidly becoming cost-competitive with fossil fuels in areas with lots of sun and wind, they still can’t provide the 24/7 power we’ve become used to. At present, that’s not big a problem because the grid still features plenty of fossil fuel plants that can provide constant baseload or ramp up to meet surges in demand.

But there’s broad agreement that we need to dramatically decarbonize our energy supplies if we’re going to avoid irreversible damage to the climate. That will mean getting rid of the bulk of on-demand, carbon-intensive power plants we currently rely on to manage our grid.

Alternatives include expanding transmission infrastructure to shuttle power from areas where the wind is blowing to areas where it isn’t, or managing demand using financial incentive to get people to use less energy during peak hours. But most promising is pairing renewable energy with energy storage to build up reserves for when the sun stops shining.

Tesla is launching today a solar rental service – a brand new way to get a solar panel system on your roof for as little as $50 per month without any long-term contract.

SolarCity pioneered new models to sell solar power systems with no upfront cost by leasing them to homeowners and selling them the electricity it generates, like a regular electric utility.

Continue reading “Tesla launches solar rental service, can get a solar panel system for $50 per month” »

In a session at the Crypto and Privacy Village within the DEF CON 27 conference in Las Vegas, Cat Murdock, security analyst at GuidePoint Security, outlined a nightmare scenario seemingly straight out of an episode of Black Mirror (the session, coincidentally, was titled Black Mirror: You Are Your Own Privacy Nightmare – The Hidden Threat of Paying For Subscription Services).

Murdock detailed how simply having a Netflix account could potentially be the key that enables an attacker to gain access to a user’s banking information. She noted that approximately 60% of the adult population pays for some form of online subscription service, be it Netflix, Spotify or something else. She also noted that everyone with an online subscription has a bank account.

One way a financial institution verifies an account holder when they try to gain access is to verify a recent transaction, which is where subscription services come into play. Murdock observed that there are only so many plans that a subscription service offers and the payments typically recur at the same time every month.

The bottom line: The world as we know it — of complex global supply chains and countries playing to their best Ricardian advantage — is rapidly transforming into an atavistic place of trade barriers and bellicose rhetoric. If countries increasingly retreat into their nationalistic shells, no amount of fiscal or monetary stimulus will be able to head off the inevitable economic and financial consequences.

Global financial system.

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With over 350,000 new malware samples emerging every day, it’s difficult for any one strain of malware to make a name for itself. Any single malware sample whose name you know — be it Mirai, WannaCry, or NotPetya — speaks to a trail of devastation.

In 2019, people are also hearing another name: Emotet.

But Emotet has been around in one form or another since 2014, and its first major resurgence was in 2017. In the beginning, Emotet was just one trojan among many — a particularly run-of-the-mill banking trojan that did some damage before being researched, understood, and dismissed in a flurry of signature updates.