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Showing posts with label supply chain. Show all posts
Showing posts with label supply chain. Show all posts

Sunday, 19 March 2017

11:34

Chained Finance:BlockChain

Chained Finance:BlockChain

Chinese online lender Dianrong and iPhone manufacturer FnConn this week announced the launch of Chained Finance, the first-ever blockchain platform for supply chain finance. 
The new platform leverages advanced financial technology to meet the hugely underserved needs of supply chain finance in China.
Supply chain finance companies have been limited by existing technology and, to date, have only served about 15 percent of suppliers needing financial resources.  As a result, the vast majority of the 40 million SMEs in China remain unserved.  Chained Finance enables supply chain finance to deliver needed capital to smaller supply chain suppliers and provide large multinational manufacturers with enhanced visibility and transparency.
The two companies recently completed a successful pilot and proof of concept of Chained Finance by securing funding for small and medium enterprises in China that were otherwise unable to secure needed capital.  Chained Finance originated US$6.5 million in loans for these SME supply chain operators.
Chained Finance is initially targeting three major industries: electronics, auto and garment manufacturing.  It is expected that Chained Finance could help supply chain finance operators potentially triple the number of SME supply chain operators with access to funding in China.
“Blockchain is revolutionizing the finance industry and offers seamless solutions to any company operating and financing complicated supply chains,”
said Soul Htite, Founder and CEO of Dianrong.
“The complexity and scale of supply chain finance has posed major challenges in ensuring adequate funding and efficient operations.  Chained Finance creates a unique ecosystem that will provide supply chains with easier access to funding at competitive rates.”
This notable use for blockchain could have global significance, for example in the construction sector where subcontractor chains are notoriously long.

Source:NextMoney



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Saturday, 3 October 2015

08:20

Dangerous resurgent banking malware hits UK

Dangerous resurgent banking malware hits UK

The formidable Dyreza and Dridex banking malware are back in renewed and rejigged macro-based campaigns that includes a shift by the former to target industrial supply chain organisations and by the latter to smash the UK.

Both malware instances are dangerous. Dyreza is a powerful man-in-the-browser bank trojan whose creators have been shifting to target outside of the financial sector.

The authors over time have added targets like the recruitment sector, cyberlockers, domain registrars, and tax services.

Now big ticket industrial supply chain entities have become the latest arrows in Dyreza's quiver.

"As of 17 September Dyreza now counts an additional 20 organisations directly involved in fulfillment and warehousing including four software companies and five wholesale computer distributors," Proofpoint researchers say.

"Credential theft triggers include Apple, Iron Mountain, OtterBox and Badge Graphics Systems, and many other well-known consumer- and business- facing technology and service brands.

"The specific changes observed represent a clear and deliberate strategy on the part of attackers to target a new industry, at all points across the supply chain."

Attackers gain "immense" power to empty bank accounts and even divert physical shipments, researchers say.

They say it buries the notion that man-in-the-browser attacks target only banks.

The attackers use Word macros to compromise phished users in what is an old-attack vector that has gained latent popularity. The Upatre payload downlods Dyreza which then downloads spam botnet compentry.

Dridex also uses the old school cool macro attack vector having resurfaced after a two-month siesta when one of its authors was in August reportedly arrested in Moldova.

PaloAlto bods Brandon Levene and Rob Downs say the phishing emails are again the choice no-brainer method of infection.

"Dridex re-entered the threat landscape with a major e-mail phishing campaign," the pair says.

"Our analysis revealed that this return of Dridex is heavily targeted at the United Kingdom."

They say the resurgence of Dridex means the arrest of actors will not be the end of the malware as long as the organisation behind it remains viable

 Source :http://www.theregister.co.uk/2015/10/02/dangerous_resurgent_banking_malware_hits_uk/
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