© The Financial Times Ltd 2014 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
Kaspersky Labs is one of a group of European IT security companies that has been talking about floating since at least 2007. But Eugene Kaspersky, the company’s founder and majority shareholder, has now announced the company is planning to stay private after all.
He is buying back the 20 per cent stake General Atlantic bought in the company a year ago, and preserving all the freedom and flexibility that unlisted status affords. Read more
Yet regulators say banks could have prevented most of the crime if available security software had been put in place. New US guidelines directing all banks to increase security came into effect this week, designed especially to help protect commercial accounts. But as 2011 drew to a close they had not yet fully sunk in or convinced banks to raise the bar against criminals as needed, regulators warn.
Karsten Nohl, the celebrity mobile cryptography expert, has been at it again. Two years ago he caused a stir by showing that the secret code that protects GSM mobile handsets was easy to crack, leaving phone calls open to interception by third parties.
This year, he is due to show that handsets can also be hijacked to make unauthorised calls and send text messages, running up huge bills without their owners’ knowledge. GSM networks, which are vulnerable to this flaw, are used by around 80 per cent of the world’s mobile users. Read more
Malware targeted towards phones running on the Android operating system continues to be on the rise, TechCrunch reports. According to McAfee’s security report for the third quarter, the amount of malware targeted at Android devices jumped nearly 37 per cent since last quarter. This follows a 76 percent rise in Android malware in the second quarter. Read more