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Hundreds of customers of ADT Security Services were spied on through security cameras installed inside and outside of their homes, two US federal lawsuits filed Monday are claiming.
ADT, headquartered in Boca Raton, failed to provide rudimentary safeguards to prevent an employee from gaining remote access to the customers cameras over a seven-year period, a news release from the Dallas-based Fears Nachawati Law Firm states.
ADT notified customers of the breaches and then tried to pay them off if they agreed not to reveal them publicly, according to the suits filed in US District Court in Fort Lauderdale.
In a frantic effort to mitigate and hide its actions, ADT began a campaign to call all affected account holders and secure a release and confidentiality agreement in exchange for a monetary payment representing a fraction of the value of their claims, one of the suits says.
ADT did not immediately respond to requests for comment about the lawsuits. In April, the company admitted the breaches to the Dallas Morning News. A spokeswoman said the breaches did not reflect the values or ethics or our brand, adding ADT was disappointed and regretful.
The company said the breaches affected customers in the Dallas-Fort Worth region, one of its larger markets. ADT serves more than six million customers in the United States.
Alexia Preddy and Shana Doty, both of Texas, are named as lead plaintiffs in the suits, which seek class-action status in the expectation that hundreds of other potential victims will also come forward.
Preddy was a teenager when the Dallas-area technician who had installed their indoor security camera granted himself remote access by adding his personal email address to her account, Preddy claims. The employee then used that access nearly 100 times to spy on her and other household members in their most private and intimate moments, according to her suit.
Doty was alerted by ADT that the technician had used his access an unknown amount of times to spy on her, her husband and their minor son in their most private moments, she claimed.
The lawsuits accuse ADT of failing to fix large vulnerabilities in its ADT Pulse software application, leaving not only the lone Dallas technician but potentially countless other ADT employees with the ability to secretly open locks at homes and view security camera footage, the suit states.
It adds, The mental and emotional impact this revelation has had on every person receiving these calls from ADT is immeasurable. Moments once believed to be private and inside the sanctity of the home are now voyeuristic entertainment for a third party. And worse, those moments could have been captured, shared with others, or even posted to the Internet.
ADT Pulse is among the most advanced and expensive home security packages offered by ADT. It enables consumers to view their homes remotely and control their homes locks and security systems from a mobile application or web browser.
ADTs investigation revealed that an employee named Telesforo Aviles had access to more than 200 different customers ADT Pulse accounts for the last seven years, Dotys suit says.
Countless checks could have been in place to prevent or at least stop this conduct, it said. Instead, the breach was revealed when a customer reported a technical issue and inadvertently revealed the unwanted third-party access.
The suits each seek more than US$5mil (RM21.72mil) plus interest and costs.
They arent the first accusations that ADT failed to protect its security systems from unwanted intrusions. In 2017, the company agreed to pay US$16mil (RM69.52mil) to settle class actions suits in Illinois, Arizona, Florida and California claiming it systems were vulnerable to hacking because the company failed to encrypt them. The Sun Sentinel (Fort Lauderdale, Fla.)/Tribune News Service
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US home security company employee spied on customers for years through their cameras, lawsuits claim - The Star Online
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COVID-19 has impacted the work-life of millions, including cybersecurity professionals. Although good cybersecurity is built on anticipating threats and defending against what could happen, no one expected the total upheaval to everyday work structures. Cybersecurity teams are challenged to protect networks, devices and data accessed remotely while working remotely themselves.
(ISC)2 conducted a survey of cybersecurity professionals to learn how COVID-19 and stay-at-home orders have impacted their work lives, as well as some of the issues in securing a remote workforce.
The goal of the survey was to take the pulse of the cybersecurity community as many of their organizations began to shift their employee bases and operations to remote setups in March and April, said (ISC)2 COO Wesley Simpson in a formal statement. In conjunction with the survey results, (ISC)2 released a webinar looking at what has been learned so far from COVID-19 from a security standpoint.
Three-quarters of the 342 respondents said their job has changed since COVID-19 came on the scene, with 35% stating that their cybersecurity job duties changed significantly. One of the biggest changes is the work-from-home mindset, and nearly half of the respondents said that at least some of the change included being moved from some or all of their security tasks to help out with other IT-related tasks such as setting up mobile workstations. Webinar panelist Kris Rosson, IT security manager at Chumash Casino Resort, said the culture of his workplace didnt encourage a remote workforce in the past, but the virus changed that overnight. They had to scurry to get everyone the equipment they needed and ensure software licenses for these new devices quickly.
While the companies themselves were split surprisingly evenly on a total remote workforce versus a partially remote workforce, the vast majority of security professionals said they are working from home. Those who arent tend to be in industries such as health care, where they are considered essential to keep the networks running safely or their tasks have to be done onsite. In some cases, security staff is rotating shifts in the office so there is always someone keeping an eye on things while acknowledging social distancing.
Although there has been some spike in security incidents, most reported the number of incidents has been about the same since work-from-home became the norm. The vast majority of companies view cybersecurity as an essential function right now, but responses are mixed when asked if they have the necessary tools to securely support a remote workforce and if they are able to utilize best practices.
The survey allowed respondents to make comments. One comment pondered on the idea of a new workplace normal after stay-at-home orders are lifted and businesses begin to reopen their doors. Many staff will continue to be remote even if they can return to the office, the commenter said. Many systems were quickly implemented to allow this capacity to work from home. It is not all bad. It will just be different.
However, webinar panelist and CISO at FXCM Erik von Geldern said he thinks the new work-from-home model has leveled the security playing field. Von Geldern worked remotely before COVID-19. Now, he said, hes become more accessible to other employees in the organization, who in the past felt they couldnt approach him because they didnt have in-person interaction with him. Theres been a shift in the openness in the conversation, he said, because, in communication, were all using the same set of tools.
Another response from the survey pointed out that security professionals are now being looked at as creative problem solvers and risk managers in new ways. John Carnes, an information security architect, said during the webinar that while his company made the transition well, he knew of one company that pushed to get everyone out of their offices quickly. They had an in-office crash course to get them switched over to VPN and turning firewalls on, and literally making those changes on their own computers and packing them up, Carnes explained. These professionals cant do their job on a laptop, so there had to be creative and quick thinking by the security team to be able to allow the employees to keep working on their regular work computers.
But when you move so fast, you forget a lot, too, Carnes added, so that has required some creative thinking. Moving quickly and moving methodically doesnt have to be mutually exclusive. Its a matter of stepping through things and getting answers quickly, but it is important to follow good practices and procedures.
COVID-19 is nowhere near contained and the cybersecurity pros understand this remote work model is going to go on for a while. To get the most from this experience, keep a diary and take notes about what is working and what isnt working. Learn from the crisis to see how to better improve work-from-home security and be prepared for these sudden shifts between the office and home. When we return to somewhat normal, lets learn where we landed and where we came from to keep employees and data safe and secure.
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How COVID-19 Has Impacted Cybersecurity Teams - Security Boulevard
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Leaving the house may increase your chances of contracting COVID-19, but working from home may make you more susceptible to another kind of virus. A computer virus.
The cybersecurity firm RISKIQ predicts the coronavirus outbreak will give hackers one of their best opportunities in recent years to attack computer networks around the world.
There are many reports that hackers are busy targeting people working from home on their work computer, and if you don't have someone from IT a few cubicles away, you're it.
Here are some things you should do the next time you fire up your computer.
One of the most important things is to keep your software updated. On just about any software, you can click the "help" or "support" tab at the top of the page, and then "check for updates." You might need to ask your IT person before updating. Most of these updates include security fixes to address any vulnerabilites.
If you seldom turn off your computer but just put it to sleep, get in the habit of turning it off at least once a week. When you turn it back on it'll automatically search for and install updates on the operating system. This is especially true and important if you use a Windows computer.
Enable 2-factor authentication. If you log out and then back on, you'll have to allow the program or social media site to send you a text message to make sure you're you and not some hackers trying to access your accounts. Do this for any online account including Facebook, Google and even Netflix. It's a hassle, I know.
You can also pick up a security keys, like a Yubikey. Insert it into a flash drive on your computer and anytime you're logging into certain accounts, you can just tap the key so it sees your fingerprint.
If you're on your work computer it probably has anti-virus and anti-malware programs. If you're on yours though, make sure you have something to protect yourself from viruses and malware. If you're looking for something good, free and safe, AVG guards against hacks and C-Cleaner scans your computer for problems and eliminates them. Malwarebytes focuses on malware, and searches for programs that could cause problems that you've accidentally downloaded from the internet.
The best thing you can do, is to be careful about any links you click, whether it's on a website, social media site or in an e-mail. Don't click on anything without asking yourself, can I really trust it?
But if you're working on your company's laptop or connecting to the company's network servers check with the IT department before downloading or installing anything.
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What the Tech? Work-from-home security | What The Tech? - WFMZ Allentown
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A technician at ADT remotely accessed hundreds of customers' CCTV cameras to spy on people in their own homes, the burglar-alarm biz has admitted.
At least one of the victims was a teenage girl, and another a young mother, according to court filings.
Last month, an ADT customer in Dallas, Texas, spotted and reported an unexpected email address listed as an admin user on their home security system. An internal investigation by ADT revealed it was the personal email of one of its employees, and he had seemingly used it to view the home's camera system nearly a hundred times.
A probe found the same technician had made himself an admin on 220 customers' accounts, meaning he could lock and unlock doors remotely, as well as access the live feed of cameras connected to the ADT network. His access is said to have stretched back seven years.
When ADT dug into the logs, it became clear their rogue insider had been regularly spying on customers, including, it is claimed, accessing the video feed from the bedroom of one teenage girl dozens of times. That teenager this week sued ADT for negligence and emotional distress, seeking a class-action lawsuit against the US corp, and naming the technician in question: it is alleged Telesforo Aviles was responsible.
ADT reassured them both that the security system was perfectly safe
The allegations are the stuff of nightmares: the lawsuit [PDF] details how the teenage daughter and her mother were initially uncomfortable about the idea of installing security cameras inside their house, though ADT reassured them both that the security system was perfectly safe, according to court filings, and a technician later fitted the kit.
But then, on April 24, ADT called to explain that one of its technicians had gained access" to her mother's account "and had been watching" the mother and daughter "on approximately 73 different occasions, according to court filings.
Her lawsuit then alleges, "based upon the cameras wide-angle lens and placement, the ADT employee had an opportunity to watch at least" the teenager "nude, in various states of undress, getting ready for bed, and moments of physical intimacy."
An almost identical [PDF] lawsuit has been filed by a second person a young mother whose security system installation included an indoor security camera with a wide-angle view that provided a visual of a bathroom, entryway, family room and dining space, stairs, and into the master bedroom.
To its credit, when ADT heard about the unauthorized access, it did the right thing: it fired the worker, reported him to the cops, and then contacted all those affected explaining the situation.
According to ADT, its unnamed technician abused a service mode function while physically present in customers homes in the Dallas area to add his personal email address a feature that is neither necessary nor permitted, and which the company will remove in an upcoming software update. ADT technicians do not have remote access to that function, but once the technician included himself on the system while physically present, he could access the surveillance gear remotely.
Understandably, however, customers are furious it happened in the first place and went unnoticed for seven years. This type of access could only occur because ADT failed to implement adequate procedures that would prevent non-household members from adding non-household email addresses, reads the teenager's lawsuit.
Similarly, ADT failed to monitor consumers accounts and promptly alert them anytime a new email was added to their accounts. Countless checks could have been in place to prevent or at least stop this conduct. Instead, this breach came to light only by luck and happenstance.
Her lawsuit also noted that there is every reason to believe that other ADT technicians have similarly abused the system: ADT says it is carrying out a detailed investigation and audit to make sure there are no other instances.
Our customers trust ADT with their safety and protection. We understand that this incident jeopardizes that trust and is entirely unacceptable, the company acknowledged in an statement.
We will make extraordinary efforts to earn back that trust. Our investigation is ongoing; we will continue to review all our customer accounts until we can be sure no one elses privacy is at risk. In addition, weve already implemented technical and procedural solutions to help keep this abuse of access from ever happening again.
The manufacturer has also said it will review all of our processes, technical systems and hiring practices to strengthen our account security and customer privacy even more, and weve engaged third-party experts to assist in that review.
In a message to The Register today, ADT said: "We deeply regret what happened to the 220 customers affected by this incident and have contacted them to help resolve their concerns. We are supporting law enforcements investigation of the former employee and are committed to helping bring justice to those impacted by his improper actions."
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Rogue ADT tech spied on hundreds of customers in their homes via CCTV including me, says teen girl - The Register
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Its difficult to focus on anything other than the novel coronavirus outbreak right now, and thats certainly understandable. Its the most important thing happening in the world and it will continue to be for months and months to come. The United States now has more confirmed COVID-19 cases than any other country in the world and thats in spite of the fact that only a fraction of people exhibiting symptoms can get tested since theres still such a shortage on coronavirus tests. Its bad and getting worse, but we also have to remember that life goes on and we have more than just the coronavirus to protect ourselves and our families from.
Amazon has two great deals right now on home security cameras that are just as good as a $200 Nest Cam for a tiny fraction of the price. The first is the Wyze Cam, which has all main features you might want as well as 14 days of free cloud storage for just $24 and change per camera. The second one is on the Yi Home Camera 3, which costs about the same amount but has some more advanced features as well as a 6-month free trial of YIs cloud service. On top of that, you can get the first Yi camera for just $19.50 by using the coupon code GAXSJC8C at checkout.
So why would anyone choose the Wyze Cam over YIs rival? The answer is simple: Amazon is shipping Wyze Cams right away, while new YI Home Camera 3 deliveries are now delayed until mid-April.
If you can wait that long, you should definitely go for the YI model. On top of all the main features youd get with the Wyze Cam, the YI Home Camera 3 also includes advanced AI features like person detection and even sound analytics. The downside is that you only get free 7-day cloud storage for 6 months, and after that youll have to subscribe to YIs cloud service if you want to keep using the cloud. $24.29 for all those features is still a crazy price though, and its great that you can get one for under $20 with the coupon.
As for the Wyze Cam 1080p HD smart home camera, its always a great value and it comes with 14 days of free cloud storage for free. Thats not a limited-time trial, mind you youll enjoy free cloud storage for as long as you own your cameras. As we also mentioned, Wyze cameras are still shipping out right away on Amazon despite the retailers shift in focus away from nonessentials. Youll pay $25.98 for one camera or $24.46 if you by them in 2-packs, and theyll be on your doorstep in just a few days.
Follow @BGRDeals on Twitter to keep up with the latest and greatest deals we find around the web. Prices subject to change without notice and any coupons mentioned above may be available in limited supply. BGR may receive a commission on orders placed through this article, and the retailer may receive certain auditable data for accounting purposes.
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Youll be shocked at how good these $24 home security cameras are on Amazon - BGR
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See, hear, watch and speak with this award winning, connected, smart home security solution.
Imou has announced the availability of its award winning, world first Artificial Internet of Things (AIoT) home security camera, Ranger IQ. It combines the latest AI and motion tracking technology with a hypermobile camera system and easy-to-use app, delivering premium security at an affordable price.
Looking sharp, day or night
Its sleek, spherical design allows the Ranger IQ to rotate 355 degrees and tilt 90 degrees, ensuring every corner of the room is covered, leaving zero blind spots. Android and iOS-compatibility means users can watch, store, and re-watch footage in Full HD, 1080p resolution using Imous Cloud service, wherever they have internet access.
The Ranger IQ also offers clear images in low light conditions thanks to the embedded Sony Starlight sensor. This advanced imaging technology offers vivid full-colour streaming even in low-light conditions, without sacrificing image quality when the sun goes down.
Follows and recognises
The Ranger IQs advanced AI human detection software automatically focuses on and quickly identifies and recognises human targets. Additionally, the Ranger IQ can track a target while live streaming and recording simultaneously - logging their movement around your home. It can even distinguish between humans and animals, saving pet owners in particular from false alarms or unnecessary worry.
Using Airfly technology, the Ranger IQ can be connected to Imous range of motion detectors, sirens and door sensors. This means it can get to know your home habits, alerting you when it detects unusual activity. It can even be set to deter unwelcome strangers with a built in siren, and the Two-Way Talk feature is perfect for interacting with pets or visitors who unexpectedly drop by.
In addition to being packed with convenient features, the Ranger IQ also detects abnormal sounds via its built-in siren. This sends users an alert to their smartphone if it hears anything out of the ordinary within the home, such as a baby crying or breaking glass, keeping you aware of whats going on, even if youre not there.
Alexa, show me my camera
Compatible with smart home assistants including Amazons Alexa and Google Assistant, the Ranger IQ allows users to operate the camera without having to lift a finger.
But if a homeowner wants some privacy for themselves and their guests, Ranger IQs convenient Privacy Mode means one tap automatically lowers the cameras lens, protecting personal privacy while youre at home.
Available to buy on Amazon for the affordable price of 85.99 RRP, the Ranger IQ sets to revolutionise affordable security, offering homeowners customisable and connected peace of mind, protecting whats inside your home, wherever you are: https://www.amazon.co.uk/Imou-Security-Surveillance-Detection-Starlight/dp/B081VB77QW/
About Imou
Imou, whose parent company is Dahua Technology, is a world-leading video-centric smart IoT solution and service provider. With 19 years of expertise in the industry, the company serves global IoT users with a 3-in-1 business system encompassing Imou Cloud, smart devices and intelligent technologies.
Designed for home and small and medium-sized business (SMB) users, Imou provides comprehensive smart IoT solutions for different scenarios. The open cloud platform that allows third-party integration makes Imou perfect for building smart IoT ecosystems, creating greater value for partners and users.
Dahua Technology also has been ranked 2nd for five years in a row in the global CCTV & video surveillance equipment market - https://cdn.ihs.com/www/pdf/1218/IHSMarkit-Security-Technologies-Trends-2019.pdf
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Ranger IQ is the world's first AIoT home security camera - HEXUS
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With COVID-19 concerns canceling face-to-face meetings, be aware of the security risks of videoconferencing and how to easily overcome them
At the time of writing one-third of the worlds population is enduring restricted movement to stem the spread of COVID-19. The lockdown has driven huge swaths of the working population to become remote workers, many for the first time. The sudden surge in employees, students, teachers, and many other professionals working from home is driving a huge increase in demand for videoconferencing, online collaboration tools and chat systems.
On March 11th, Kentik (a network operator based in San Francisco) reported a 200% increase in video traffic during working hours in North America and Asia, and this was before the official lockdown in California or other locations took effect.
Last week UK Prime Minister Boris Johnson shared a picture of himself chairing a cabinet meeting via the Zoom app, demonstrating social distancing even in the highest levels of Government.
The decision was a wise one as he has since tested positive for the coronavirus. However, a meeting at this level over a public conferencing system raised questions about security and the UKs National Cyber Security Centre confirmed there was no security reason why conversations below a certain classification could not take place this way.
If a UK Government meeting is authorized to be held online using a freely available videoconferencing tool, then companies forced to quickly adapt to employees working from home can probably do so with some confidence. However, that does not alleviate the need to understand the built-in security and the need to control how videoconferencing is conducted by using the features available.
Below we outline some key considerations.
Check your environment to ensure that the video stream you are sharing does not contain sensitive information. A whiteboard behind you may have the remnants of a previous meeting, make sure all confidential or sensitive material is removed from the cameras scrutiny. And while weve probably all laughed at cute viral videos of pets or toddlers entering a streaming video interview or meeting, consider the effects such interruptions could have on your meetings and ensure suitable mitigations are in place before starting your meeting.
Most videoconferencing platforms allow for the creation of groups of users or the ability to restrict access by internet domain so only users with an email address from your company would be able to join the call. Alternatively, only allow attendees that are invited by adding their email addresses to the invite when scheduling the call.
Set a meeting password, typically an option when creating the meeting, which adds a randomly generated password that invitees will need to input. A numerical password can be used to authenticate users who connect by phone. Do not embed the password in the meeting link.
Holding participants in a waiting room and approving the connection of each one gives the host ultimate control over who is in the meeting. To handle this for larger meetings you may be able to promote other trusted attendees to an organizer or moderator role.
Enforce encrypted traffic. Do not take it for granted that systems have this option enabled by default for video communications. Some services encrypt chat by default but not video unless specifically requested.
If third-party endpoint client software is permitted, then ensure it complies with the requirements for end-to-end encryption.
If file transfers are needed, then consider limiting the types of files that can be sent; for example, dont allow executable files (such as .exe files).
Its easy to get distracted on conference calls, email and other notification pop-ups and migrate your attention to the content rather than the call in-hand. The host, depending on the platform, may have the ability to request notification when the conferencing client is not the primary (active) window. If youre a teacher, then this feature may be extremely useful if you want to ensure the attention of all your students.
Monitor who joined the call, either by enforcing a registration process to connect or by downloading an attendee list after the call. This is also likely to include the connect and disconnect time, showing whether the user was engaged for the whole call.
Limit the ability for screen sharing to the host, or to a person the host selects. This removes the possibility of someone sharing content by mistake.
When screen sharing, only share the application needed, as opposed to the whole desktop. Even an icon or name of a file on a desktop can give away sensitive company information.
Apples iOS takes screen snapshots used when task switching between apps. To protect against this inadvertently including the capture of sensitive information, check to see if the conference system can blur this image.
Take the time to step through all the options in the settings of the videoconferencing system you may already have or are thinking of using. As you can see from the snapshot of considerations above, there are many settings and finding the right configuration for your environment is an important task to undertake to ensure company communications remain secure.
Lastly, check the privacy policy of the service you are using. The adage that if its free, youre probably the product should be enough motivation for you to check whether the company is collecting, selling or sharing your data to fund the provision of its free service.
If you want to learn more about the increased cybersecurity risks associated with teleworking, as well as about ways to counter them, you may want to read these articles:
COVID-19 and the shift to remote workWork from home: How to set up a VPNWork from home: Improve your security with MFA
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Work from home: Videoconferencing with security in mind - We Live Security
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Image: Epic Games
Houseparty, a video conferencing desktop and mobile application, said it would pay a $1 million bounty to anyone who could unmask the entity behind what the company described as "a paid commercial smear campaign."
The company's apparent anger comes after Houseparty has been at the center of media reports published yesterday by three British tabloids.
The Sun, the Express, and Mirror Online reported on Monday on a large number of Houseparty users claiming they had social media accounts hacked and taken over after installing the video conferencing app on their smartphones.
Users reported having Netflix, eBay, Instagram, Snapchat, and Spotify accounts taken over; however, very few were able to provide details about what really happened.
Houseparty denied any hacking rumors right from the get-go via a firm statement posted on its Twitter account, claiming that the app "doesn't collect passwords for other sites," and, hence, wouldn't be able to allow anyone to extract this data and pivot to other online services.
However, despite the explanation, the app is now at the center of a public relations disaster. Many of its users appear to believe the reports and are encouraging others to uninstall and delete the app from their devices.
Houseparty officials feel they're now being defamed unjustly in a game of dirty politics.
"We are investigating indications that the recent hacking rumors were spread by a paid commercial smear campaign to harm Houseparty," the app maker said in a tweet today.
"We are offering a $1,000,000 bounty for the first individual to provide proof of such a campaign to bounty@houseparty.com."
A Houseparty spokesperson could not be reached for additional details.
The app rose in popularity during the current coronavirus (COVID-19) outbreak when social distancing and quarantine measures were imposed around the globe.
Just like employees are using Zoom and Google Hangouts Meet to have video conferences with their work colleagues, Houseparty has emerged as the video conference app of choice for teens stuck in their homes.
The Houseparty app was launched in 2016 and has been acquired by Fortnite game maker Epic Games in June 2019 for an undisclosed sum.
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Houseparty app offers $1m reward to unmask entity behind hacking smear campaign - ZDNet
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The novel coronavirus pandemic and the actions taken by governments around the world to slow the spread of the virus are taking a huge toll on a wide variety of businesses. Few companies will escape completely unscathed. The U.S. economy will likely suffer a historically large contraction during the second quarter, with some analysts calling for a 25% decline in gross domestic product.
Some stocks have surged throughout this crisis as an increasing number of people are forced to work from home. Zoom Video Communications (NASDAQ:ZM) is a popular one, with investors getting behind the stock due to rising demand for video conferencing software.
The problem with Zoom, though, is that the valuation is about as nonsensical as they come. The company is now valued at nearly $44 billion, despite the entire video conferencing market being worth just a small fraction of that total. Shares trade for more than 60 times sales, an eye-watering ratio.
Whether soaring demand for various work-from-home products like video conferencing software sticks around after the pandemic is over remains to be seen. A pricey stock like Zoom could very well collapse if newer customers turn out to be transient, even if the company itself continues to perform well. Zoom is a classic case of a good company, but a bad stock.
How can you invest in the work-from-home trend without taking huge risks? Cisco Systems (NASDAQ:CSCO) is your best bet.
Image source: Getty Images.
Like Zoom, Cisco provides video conferencing technology through its WebEx business. WebEx isn't a household name, while Zoom appears to be becoming one, but Cisco is seeing a surge in demand, nonetheless.
Earlier this month, Cisco CEO Chuck Robbins disclosed in an interview that WebEx had powered 5.5 billion meeting minutes in the first 11 business days of March. Robbins also said that the platform is doing four to five times the volume it was built for a month ago. At peak times, volume is 24 times higher than normal.
Cisco is also a big name in cybersecurity. While spending on cybersecurity hardware, software, and services has been growing steadily in recent years, the sudden explosion in remote workers raises new security challenges for companies and organizations.
Cisco expanded some of its free security offerings in March, a move that could lead to more business down the road as the company converts users to paying customers. In the first 24 hours after launching its free security offers and its free WebEx offers, around 240,000 new users had signed up for at least one of them.
Beyond video conferencing and security, Cisco is the market leader in enterprise networking hardware. The company's switches and routers are key Internet infrastructure, and Internet usage is rising in places subject to stay-at-home orders. Increased demand for streaming, online gaming, video conferencing, and other applications could eventually lead service providers to increase capacity, boosting hardware sales in the process.
Cisco is well positioned, in multiple ways, for an increase in people working from home. However, a global recession will almost certainty hurt the company's results as some customers delay or pull back on orders where they can. Cisco is sensitive to global economic uncertainty, and its core business is prone to cycles.
It's impossible to say how Cisco will perform this year, given the high level of uncertainty. The best-case scenario: Increased demand related to work-from-home is enough to offset any other sources of weakness. The worst-case scenario: It's not enough, and revenue slumps, possibly by a lot.
Cisco stock is down more than 30% from its 52-week high. It trades for less than 13 times fiscal 2019 adjusted earnings per share. Earnings could take a hit this year, depending on how things go. But for long-term investors, paying such a low price for a rock-solid tech company is unlikely to turn out badly if your time horizon is measured in years.
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The Top Work-From-Home Stock to Buy Now - Motley Fool
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As IT professionals work diligently to provide remote workers with communications and collaboration tools during the coronavirus crisis, one issue has come into full focus security. This topic was touched on in a Zoom webinar last week, during which a panel of company executives and customer CIOs from different industries and Zoom representatives discussed the challenges of enabling remote working.
Getting the Gear, VPN Connections to Employees
"One of the things that companies have always had a problem with is sending people home to work remotely full time," said Gary Sorrentino, a consultant for Zoom, kicking off the conversation on security. When it comes to remote working, many security concerns come from the reliance on a virtual private network (VPN), which might not have enough capacity to support the users, Sorrentino went on to explain.
Another part of the security puzzle is the devices themselves. Ideally, remote workers will be using corporate-owned devices installed with appropriate security software. Thats key, Phanda said. However, unless your company already had outfitted employees with laptops for working at home, getting everybody situated with corporate devices could be logistically challenging, he added. One possible solution comes in the form of recommissioning devices that would have been normally phased out with a refresh program, Phanda recommended.
Executing, Adjusting Security Strategies
While the volume of remote workers might be unprecedented, leveraging an existing security strategy will help alleviate many issues that might arise, said Bryan Ackerman, managing partner and former CIO with the management consulting firm Korn Ferry. "If this is the first time you're exploring a defense in depth strategy.... you've got a different problem to solve," he noted.
By this point in time, for example, every enterprise should have a strategy in place for preventing email phishing, Ackerman said. But, as Sorrentino noted, email filters are having a hard time identifying legitimate and scam emails related to coronavirus. In this case, Ackerman suggested a two-pronged attack: preventing these emails from reaching employees and, when that fails, reminding employees about and retraining them on phishing and security.
The need for vigilance is high, with more security challenges undoubtedly on the way, panelists agreed. As Ackerman said: We're two weeks, three weeks in, in some cases, and we're going to learn as we go. There will undoubtedly be new and different attack patterns that emerge.
Originally posted here:
WFH Watchpoints: Remote Working in Times of Crisis - No Jitter
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