The head of digital policy at the EU has warned TikTok about its privacy policy, saying that the company will have to adhere to its new rules. New legislation is expected to start being implemented by the end of 2023. More: - During a video call with Shou Zi Chew, the CEO of TikTok, Thierry Breton stated that the social media company will have to adhere to the European Union's new privacy rules and that the app has a responsibility to offer safe practices due to its influence on young people.
- The Digital Services Act is set to start being implemented by September 2023. The latter is legislation that will oblige companies to revamp their online privacy rules and reduce their harmful content.
- Breton stated that the EU would not hesitate to deploy sanctions against the company if it were to find proof that TikTok was not respecting EU privacy laws.
Zoom Out: - TikTok has now been banned in some form in over 20 U.S. states, while the military and Congress have banned TikTok use altogether on government devices.
- Former President Donald Trump had initially hinted that TikTok would have to sell its operations to a U.S. company in order to earn credibility, and reports of Microsoft acquiring the app's U.S. operations made headlines, but ultimately the deal never materialized.
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Nearly 35,000 PayPal users have had their credentials stolen by hackers, according to a company statement. The breach occurred between Dec. 6 and 8, 2022. More: - While PayPal has stated that the hackers have not made any transactions on behalf of the users, their credentials may be sold for financial gain on the internet.
- PayPal has warned the affected users individually.
- Researchers believe that these users are likely to be targeted with phishing campaigns in the near-term future, while others added that this breach could have been avoided if PayPal had made 2-Factor Authentication mandatory.
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Thoma Bravo has acquired cybersecurity company Magnet Forensics for $1B. The latter is based in Waterloo, Canada. More: - Magnet Forensics provides companies with tools that help them find evidence, analyze it, and create reports based on the found data.
- According to the company, its software solution is used by over 4,000 clients who work in both the private and public sectors.
- In 2022, Magnet Forensics reported that its annual recurring revenue increased 50% YoY, reaching $80.9M.
- The company has worked with clients such as Microsoft, Amazon, Grayshift, Carahsoft, etc.
- Chicago-based Thoma Bravo now has over $110B in assets under management.
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Nineteen thousand Cisco devices have been found to be vulnerable to a remote control hacking campaign. Cisco says it will not patch the flaws because the affected devices have reached end-of-life. More: - The flaws are being tracked as CVE-2023-20025 and CVE-2023-2002.
- The two flaws enable hackers to deploy arbitrary commands against RV016, RV042, RV042G, and RV082 routers.
- Of the four vulnerable models, the RV042 is the most likely to be breached, with over 12,000 devices exposed on the internet.
- Cisco claims that CVE-2023-20025 has a high severity ranking.
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Vannevar Labs has raised a $75M Series B funding round to develop cybersecurity software to help U.S. government agencies complete their missions successfully. The company is based in Palo Alto, California. More: - The company's flagship product is Decrypt, a software solution that helps U.S. security agencies improve their data sources and organize them more efficiently.
- Vannevar has reached over $25M in Decrypt sales so far.
- Felicis led this funding round, with participation from DFJ Growth, Aloft VC, General Catalyst, Point72 Ventures, Costanoa Ventures, and Shield Capital.
- Since its inception in 2019, the company has raised $87M.
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Quick Hits: - Giving dry a try this January? Do it for less. Experience great-tasting non-alcoholic beer without the hangover! Enjoy $10 off your first purchase.*
- Two newly found security flaws could have allowed hackers to install apps in the Galaxy App Store without the knowledge of the company or device owners. Samsung reportedly patched the flaws in December 2022.
- VastfFlux, a hacking campaign that used Javascript code to infect advertising campaigns, has been neutralized.
- A new security flaw that affects Zoho ManageEngine products has been found. The flaw is officially tracked as CVE-2022-47966, with researchers recommending users update their systems immediately due to its risk.
- The Mississippi Department of Public Safety has announced the launch of its cybersecurity response center. The center falls under Mississippi's Office of Homeland Security.
- Customer trust is critical. Here's how to enhance your security without overextending your resources.*
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Upcoming events at Inside: - January 23 - Inside Coffee Break (Register Here)
- January 24 - Inside Coffee Break (Register Here)
- January 25 - Amanda Natividad speaks on zero-click content, how to measure it, and other trends to keep tabs on in 2023. (Register Here) *
- January 26 - Growth Experimentation Workshop: From Strategy to Process by GrowthHackers.com (Register Here)
- January 29 - Inside Interview with Lacework - 4 Common Attack Paths in Cloud Security (Register Here)
- January 31 - AMA with LinearB - Improving workflow for developers w/ Ori Keren (Watch On Demand)
- January 31 - AMA with Gun.io - Building and managing software development teams w/ Deividi Silva (Watch On Demand)
- April 18 - Human Resources Summit'23 (Register Here)
*This is a sponsored listing.
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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