Insecure technology is regularly cited as barrier to the use of online voting systems, in particular when casting your vote through your mobile phone, rather than putting your cross on a piece of paper and putting in a box at the polling station or mail box. At the same time those detractors trust the same mobile technology to place stock trades, initiate high value payments and more recently accessing their health records.
Our overriding theme of this year’s Live5 is interoperability which will lead to inclusion. Whether this is in payments or transit, identity or as a generalised trend what we’re seeing is a collapsing of the barriers between silos. In some areas this is happening more quickly than in others.
Here at Consult Hyperion, we are often involved in design implementation and testing of secure systems on devices such as smart cards and mobile phones for payments, banking and other applications where security is critical.
At Consult Hyperion we frequently discuss the implications of financial crime migrating online. You’re less likely to be mugged at the cashpoint but the online environment is of course open to a wider range of attackers, often well hidden, and operating in diverse geographies. Personally, I have little patience with those who cite the ‘Four Horsemen of the Information Apocalypse’: terrorists, drug dealers, kidnappers and child pornographers. It is, therefore, particularly refreshing to see a genuinely practical approach to child protection being promoted by TrustElevate, drawing on opinions expressed by young people themselves.
The biggest news in payments security in the last month concerns allegations that point of sale terminals supplied by PAX Technology have been subverted to have the capability of launching cyberattacks. Details of the allegations can be found at Krebs and Bloomberg; in response, PAX Technology has published a rebuttal.
Have you noticed that some of the best attended events at conferences recently are the investment panels, populated by canny investors talking about where they are currently placing their funds? And so this was the case with Consult Hyperion’s recent webinar The Role of Due Diligence in Investment Cycles, featuring Jonathan Luff Co-Founder of CyLon, Europe’s leading investor in pre-seed and seed stage cyber and security technology startups. Howard Hall, Managing Director of Consult Hyperion North America, and Gary Munro, Technical Director Consult Hyperion and Dave Birch our Global Ambassador, who moderated the discussion.
Victoria Saporta, BoE executive director for prudential supervision, has said recently that minimum resilience requirements should be required for the tech giants’ (and others’) hosting services, before they may process and store banking data. We strongly support these comments. We have identified this issue as one of a number of new risks arising from modern financial systems architecture, in recent Structured Risk Analyses that we have carried out for financial and retail organisations in North America, Asia-Pac and EMEA.
In our Live 5 for 2021, we said that governance would be a major topic for digital identity this year. Nowhere has this been more true than in the UK, where the government has been diligently working with a wide set of stakeholders to develop its digital identity and attribute trust framework – the rules of road for digital identity in the UK. The work continues but with the publication of the second iteration of the framework I thought it would be helpful to focus on one particular aspect – how might the framework apply to decentralised identity, given that is the direction of travel in the industry.