Know You are the Target – KYT

>> February 24, 2020

>> Blog Post #30

KYC rules have been around for a while. You probably feel that you have more or less always known them, if you are under 40 years old. But KYC is pretty much a product of the 21st century. And a few recent decades of the internet have turned it into a FAT set of data.

Names, birthdays, addresses, social security numbers, etc.…. the amount of data collected on an increasingly large population is staggering.

The fact that some companies have specialized in this field has created champions, corporations that collect highly personal data of millions of individuals.

I am pretty sure that a lot of processes could be conducted without KYC, as I personally fail to believe that AML/KYC laws do any good at all and that the rhetoric of it being useful to fight against terrorism is nothing more than a lie.

But this data is of great interest to thieves and having it all handled and protected by centralized companies is a recipe for disaster when they are breached, and they all end up being breached….

These breaches are getting bigger and bigger. The organizations behind the attacks are often state sponsored as we just learned in the Equifax breach.

This will not end well. It is time people started looking at KYC / AML regulations as a major attack vector against innocent individuals.

They Fucked Up The Corona

>> January 27, 2020

>> Blog Post #18

Joking about something serious is rarely a good idea. But I would like to keep things relatively light on the virus front as this is not the main element for me here.

You’ve probably heard about the outbreak of a new bout of something called a coronavirus in mainland china these past few weeks. Not a day goes by that I don’t hear about it in the newspaper or the radio.

Coronavirus is a family of virus, the most well-known of which is the SARS, Severe acute respiratory syndrome, that broke out at the end of 2002 and caused a reported 774 deaths in 17 countries.

The particular outbreak we are talking about right now is noteworthy for a few reasons.

First, this is a new coronavirus, one that has never been encountered before. You can probably tell it’s new because no one has come out with a catchy name for it yet. It is just referred to as 2019-nCoV. I guess someone is going to have to come up with a better name if they want it to stick in the public’s opinion and make it newsworthy.

Another interesting aspect of this is how China will react to it. A few years ago, China was accused of having held information about the SARS outbreak from the world and from its own people for several weeks, aggravating the epidemic. This aspect to me is extremely interesting as I am particularly mistrustful of how governments tend to react to these types of news. I’m not talking specifically about China, but any government. It seems to be that they have a natural incentive to protect themselves first, which they translate into something like “if the people don’t know about it, they won’t be able to blame us”, rather than informing people of potential threats. In this particular case, various articles seem to indicate that the Chinese authorities have been prompt to react and collaborate with organizations such as the World Health Organization which is a good sign. Obviously doing it before the virus has been dubbed the caliente cerveza virus shows just how fast they’ve been and how much better the world’s odds of dealing with the virus are.

Which brings me to a third interesting point about fears of a terrible pandemic that could wipe out entire civilizations. We suck at properly understanding both their chances of occurring AND the amount of damage they can cause. If, one day, we are faced with a major pandemic I am willing to believe that the most alarming scenarios and estimations might pale in comparison with reality. We have a natural tendency to believe that only something that has happened once can happen again. This is a very dangerous underestimation that could be extremely harmful to so many people. However, I also believe that we grossly overestimate the chances of that happening at all. Something that is a hundred times worse than the total number of deaths from the flu over the past hundred years but that doesn’t happen, doesn’t happen. It’s that simple.

Anyways, I fell upon this article today that I thought was refreshing in its way of talking about el virus de la muerte. Ebola sure doesn’t get as much love on the radio waves with respect to the deaths it has already caused.

Now that you have read it and see that there isn’t much to worry about regarding this specific virus, maybe you should sit back, relax and enjoy a “cold” one.