FBI: Iran to Launch New Cyber Attacks

Iranian cyber attacks on institutions

 

Iranian hackers poised for wide-ranging strikes in retaliation for U.S. leaving nuclear deal

The FBI is warning that Iranian hackers could conduct new cyber attacks on American businesses and government networks in response to the Trump administration’s withdrawal from the Iran nuclear deal.

“The FBI assesses foreign cyber actors operating in the Islamic Republic of Iran could potentially use a range of computer network operations—from scanning networks for potential vulnerabilities to data deletion attacks—against U.S.-based networks in response to the U.S. government’s withdrawal from the Joint Comprehensive Plan of Action (JCPOA),” the FBI said in a cyber alert to U.S. businesses. Continue reading

Germany Considers Economic Retaliation Against Trump

Caption: German Finance Minister Wolfgang Schäuble (Sean Gallup/Getty Images)

 

If America unleashes a trade war starting with BMW, Germany is prepared to fight back.

Senior German politicians have threatened to unleash a trade war on the United States if President Donald Trump follows through his threats to German industry.

President Donald Trump famously threatened to put a 35 percent tax on the German car manufacturer BMW in an interview published by the Times of London and Bild on January 15. German politicians were quick to respond. The next day, German public broadcaster ZDF asked German Finance Minister Wolfgang Schäuble if the world is entering a time of more protectionism. Schäuble said he hoped not but also pointed out one way Germany could hit back.

“I also want to point out that currently American companies don’t have to tax their gains which they make outside of the U.S.,” he said. “That means that hundreds of billions of untaxed gains, of great American companies, rest in a tax oasis” (Trumpet translation throughout). Continue reading

Report: Hezbollah-Linked Company Exporting Millions to U.S. Despite Sanctions

Hezbollah fighters hold their party flags / AP

 

Hezbollah financiers circumvent sanctions to export Congolese lumber to U.S., Europe

A new report says that an African lumber company owned by major financiers of the Hezbollah terror group has circumvented sanctions and managed to export millions of dollars worth of timber to U.S. companies.

The investigation by Global Witness, a D.C.-based group that aims to uncover global corruption, focused on an African-based company called Congo Futur, which was targeted by sanctions from the U.S. Treasury Department because the Tajideen family, which gives millions of dollars to Hezbollah, owns it. Continue reading

US panel backs takeover ban for Chinese state-owned firms

With Washington heading in more hawkish direction, China must respond by opening up state companies to private investment, analysts say

A top US congressional panel has called on Washington to ban Chinese state-owned firms from taking over US companies, citing national security concerns.

The recommendation in a report on Wednesday from the US-China Economic and Security Review Commission comes amid intense speculation about US president-elect Donald Trump’s likely policy on China and fears of a trade rift between the two ­countries. Continue reading

Chinese companies buying up foreign groups at alarming rate

(TRUNEWS) Chinese groups are scooping up foreign and U.S. companies at a record rate.

According to Business Insider, lawmakers are concerned about the growing trend, so 45 members of Congress signed a letter to the Treasury Department asking them to take some action.

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China still trying to hack U.S. firms despite Xi’s vow to refrain, analysts say

Chinese government hackers have attempted in the past few weeks to penetrate the networks of U.S. companies to steal their secrets despite a pledge by China’s president that they would not do so, according to private researchers.

Chinese hackers have targeted at least seven U.S. companies since President Xi Jinping vowed last month in Washington that his country would not conduct cyber-economic espionage — the theft of trade secrets and intellectual property for the benefit of the nation’s industries, according to CrowdStrike, a firm that helps companies track and prevent intrusions.

In the three weeks since Xi left Washington — including the day after he left, on Sept. 26 — hackers linked to the Chinese government have attempted to gain access to tech and pharmaceutical companies’ networks, said Dmitri Alperovitch, CrowdStrike co-founder and chief technology officer, who released a report on the issue Monday. Continue reading

China Reveals Its Cyberwar Secrets

A high-level Chinese military organization has for the first time formally acknowledged that the country’s military and its intelligence community have specialized units for waging war on computer networks.

China’s hacking exploits, particularly those aimed at stealing trade secrets from U.S. companies, have been well known for years, and a source of constant tension between Washington and Beijing. But Chinese officials have routinely dismissed allegations that they spy on American corporations or have the ability to damage critical infrastructure, such as electrical power grids and gas pipelines, via cyber attacks.

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U.S. Military Voices Worries Over South Korean Use of Chinese Telecom Gear

Chris Bush, a spokesman for the U.S. Forces Korea said the command is concerned that a deal between China’s Huawei Technologies, Inc. and the South Korean company LG could undermine operational security.

“Telecommunications equipment is inherently vulnerable to a multitude of threats, from interception and monitoring to malicious software and applications, regardless of service provider,” Bush told the Washington Free Beacon when asked about security concerns related to the Huawei-LG deal.

A former senior Obama administration official said he is very concerned that the use of Huawei equipment in a nationwide telecommunications system on the peninsula ultimately will be used for espionage during both peacetime and sabotage in a conflict.

“Huawei is an arm of the Chinese government,” the former official said of the controversial equipment manufacturer that has been blocked several times from purchasing U.S. companies. He spoke on condition of anonymity because of the sensitivity of the evidence against Huawei. Continue reading

Billionaires Dumping Stocks, Economist Knows Why

Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.

Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods. Continue reading

Confidential report lists U.S. weapons system designs compromised by Chinese cyberspies

Designs for many of the nation’s most sensitive advanced weapons systems have been compromised by Chinese hackers, according to a report prepared for the Pentagon and to officials from government and the defense industry.

Among more than two dozen major weapons systems whose designs were breached were programs critical to U.S. missile defenses and combat aircraft and ships, according to a previously undisclosed section of a confidential report prepared for Pentagon leaders by the Defense Science Board. Continue reading