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Flickr user: Andreas Poike

High-frequency trading is the practice where automated systems search for minor differences in price of stocks that can be exploited for small financial gains. Executed often enough and with a high enough investment, they can lead to serious profits for the investment firms that have the wherewithal to run these systems. The systems trade with minimal human supervision, however, and have been blamed for a number of unusually violent swings that have taken place in the stock market.

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Original author: 
Jon Brodkin


Prototype of a system for preventing ATM theft.

Reuters

A criminal serving a five-year sentence "for supplying gadgets to an organized crime gang used to conceal ATM skimmers" has invented a device that prevents ATMs from being susceptible to such thefts, Reuters reported today.

Valentin Boanta, who is six months into his sentence in a Romanian prison, developed what he calls the SRS (Secure Revolving System) which changes the way ATM machines read bank cards to prevent the operation of skimming devices that criminals hide inside ATMs.

Boanta's arrest in 2009 spurred him to develop the anti-theft device to make amends. "When I got caught I became happy. This liberation opened the way to working for the good side," Boanta told Reuters. "Crime was like a drug for me. After I was caught, I was happy I escaped from this adrenaline addiction. So that the other part, in which I started to develop security solutions, started to emerge."

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Original author: 
samzenpus

itwbennett writes "Contrary to recent reports, data broker Acxiom is not planning to give consumers access to all the information they've collected on us. That would be too great a challenge for the giant company, says spokesperson Alexandra Levy. Privacy blogger Dan Tynan recently spoke with Jennifer Barrett Glasgow, Chief Privacy Officer at Acxiom (she claims to be the very first CPO) about how the company collects information and what they do with it. This should give you some small measure of comfort: 'We don't know that you bought a blue shirt from Lands End. We just know the kinds of products you are interested in. We're trying to get a reasonably complete picture of your household and what the individuals who live there like to do,' says Glasgow."

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Original author: 
Adrianne Jeffries

Atm_robbers_large

Defendants Elvis Rafael Rodriguez and Emir Yasser Yeje posing with approximately $40,000 with cash. Source: US Attorney, Eastern District of New York

If you’d been waiting for the ATM inside the deli at East 59th and Third in Manhattan on Tuesday, February 19th around 9:24PM, you would have been annoyed. A young man in a black beanie and puffy black jacket made seven withdrawals in a row, stuffing around $5,620 into his blue backpack. The man wasted no time. He exited the deli and headed up five blocks to repeat the process at four more ATMs, finishing his route at a Chase bank at 69th and Third at 9:55PM, where he made four withdrawals totaling $4,000.

While the man in the black beanie was beelining along the Upper East Side, seven...

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An anonymous reader writes with a link to a story at Forbes about what's said to the first Bitcoin hedge fund; the article goes into some of the details of how the (literally) valuable data is kept. A selection: "The private key itself is AES-256 encrypted. After exporting Bitcoin private keys from wallet.dat file, data is stored in a TrueCrypt container on three separate flash drives. Using Shamir's Secret Sharing algorithm, the container password is then split into three parts utilizing a 2-of-3 secret sharing model. Incorporating physical security with electronic security, each flash drive from various manufacturers is duplicated several times and, together with a CD-ROM, those items are vaulted in a bank safety deposit box in three different legal jurisdictions. To leverage geographic distribution as well, each bank stores only part of a key, so if a single deposit box is compromised, no funds are lost."

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Loophole4All, Paolo Cirio

How much would you pay for an offshore tax haven in the Cayman Islands? Without the slightest hint of irony, Paolo Cirio says he’ll sell you one for 99 cents.

Cirio isn't a troll — he's more what you might call an information performance artist. His works, like "Face to Facebook," which "stole" public profile pictures and then posted them onto a fake dating website, borrow heavily from the realm of PR sensationalism. And for good reason: like renowned culture-jamming provocateurs The Yes Men, his almost-plausible schemes, no matter how absurd or exaggerated, always seem to illuminate something critical about privacy, politics, and the way we look at data as it exists within different contexts.

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