Archive for November, 2009

14 Cyber Threats – Symantec Releases 2010 Security Predictions

November 30th, 2009

Cyber threats continue to haunt Internet users across the world. The bad news is that this will continue to wreak havoc taking new forms and approaches.

As long as humans are programming computer code, flaws will be introduced, no matter how thorough pre-release testing is. Microsoft’s new operating system is no exception, and as Windows 7 hits the pavement and gains traction in 2010, attackers will undoubtedly find ways to exploit its users, says a Symantec report.

Security software scammers can take their efforts to the next level, by even hijacking users’ computers and rendering them useless. “Cyber terrorism is the next big threat for India. Pakistani cyber criminals are able to deface 50 to 60 Indian websites a day. Though, India leads in IT services, it is lags behind as far as cyber security is concerned,” ethical hacker Ankit Fadia said in an interview to Business Standard.

The most popular instant messaging will largely be comprised of unsolicited spam messages containing malicious links, especially attacks aimed at compromising legitimate IM accounts. By the end of 2010, Symantec predicts that one in 300 IM messages will contain a URL.

Symantec Corp has released its 2010 Security Predictions report. The reports states that malicious programs are actually being created at a higher rate than good programs.

Here are 14 threats that you must be aware of:

1. Anti-virus is not enough:  With the rise of polymorphic threats and the explosion of unique malware variants in 2009, the industry is quickly realizing that traditional approaches to antivirus, both file signatures and heuristic/behavioural capabilities, are not enough to protect against today’s threats.

We have reached an inflection point where new malicious programs are actually being created at a higher rate than good programs. As such, we have also reached a point where it no longer makes sense to focus solely on analyzing malware. Instead, approaches to security that look to ways to include all software files, such as reputation-based security, will become key in 2010.

2. Social engineering as the primary attack vector: More attackers are going directly after the end user and attempting to trick them into downloading malware or divulging sensitive information under the auspice that they are doing something perfectly innocent.
Social engineering’s popularity is at least in part spurred by the fact that what operating system and Web browser rests on a user’s computer is largely irrelevant, as it is the actual user being targeted, not necessarily vulnerabilities on the machine.

Social engineering is already one of the primary attack vectors being used today, and Symantec estimates that the number of attempted attacks using social engineering techniques will increase in 2010.

3. Rogue security software vendors escalate their efforts: In 2010, expect to see the propagators of rogue security software scams take their efforts to the next level, even by hijacking users’ computers, rendering them useless and holding them for ransom. A less drastic next step, however, would be software that is not explicitly malicious, but dubious at best.

For example, Symantec has already observed some rogue antivirus vendors selling rebranded copies of free third-party antivirus software as their own offerings. In these cases, users are technically getting the antivirus software that they pay for, but the reality is that this same software can actually be downloaded for free elsewhere.

4. Social networking third-party applications will be the target of fraud: With the popularity of social networking sites poised for another year of unprecedented growth, there will be more frauds being leveraged against site users to grow. In the same vein, expect owners of these sites to create more proactive measures to address these threats.

As this occurs, and as these sites more readily provide third-party developer access to their APIs, attackers will likely turn to vulnerabilities in third-party applications for users’ social networking accounts, just as we have seen attackers leverage browser plug-ins more as Web browsers themselves become more secure.

5. Windows 7 will come into the cross-hairs of attackers:  Microsoft has already released the first security patches for the new operating system. As long as humans are programming computer code, flaws will be introduced, no matter how thorough pre-release testing is, and the more complex the code, the more likely that undiscovered vulnerabilities exist.

Microsoft’s new operating system is no exception, and as Windows 7 hits the pavement and gains traction in 2010, attackers will undoubtedly find ways to exploit its users.

6. Fast Flux Botnets increase:  Fast flux is a technique used by some botnets, such as the Storm botnet, to hide phishing and malicious web sites behind an ever-changing network of compromised hosts acting as proxies.

Using a combination of peer-to-peer networking, distributed command and control, web-based load balancing and proxy redirection, it makes it difficult to trace the botnets’ original geo-location. As industry counter measures continue to reduce the effectiveness of traditional botnets, expect to see more using this technique being used to carry out attacks.

7.URL shortening services become the phisher’s best friend: Phishers are able to disguise links that the average security conscious user might think twice about clicking on, because users often have no idea where a shortened URL is actually sending them, .
Symantec is already seeing a trend toward using this tactic to distribute misleading applications and we expect much more to come. Also, in an attempt to evade antispam filters through obfuscation, expect spammers to leverage shortened URLs shorteners to carry out their own evil deeds.

8. Mac and mobile malware will increase: The number of attacks designed to exploit a certain operating system or platform is directly related to that platform’s market share, as malware authors are out to make money and always want the biggest bang for their buck.

In 2009, Macs and smartphones targeted more by malware authors, for example the Sexy Space botnet aimed at the Symbian mobile device operating system and the OSX. Iservice Trojan targeting Mac users.

As Mac and smartphones continue to increase in popularity in 2010, more attackers will devote time to creating malware to exploit these devices.

9. Spammers breaking the rules: As the economy continues to suffer and more people seek to take advantage of the loose restrictions of the Can Spam Act, we’ll see more organisations selling unauthorised e-mail address lists and more less-than-legitimate marketers spamming those lists.

10. Spam volumes will fluctuate: Since 2007, spam has increased on average by 15 percent. While this significant growth in spam e-mail may not be sustainable in the long term, it is clear that spammers are not yet willing to give up as long an economic motive is present.

Spam volumes will continue to fluctuate in 2010 as spammers continue to adapt to the sophistication of security software, the intervention of responsible ISPs and government agencies across the globe.

11. Specialised malware:  Highly specialised malware was uncovered in 2009 that was aimed at exploiting certain ATMs, indicating a degree of insider knowledge about their operation and how they could be exploited.

Expect this trend to continue in 2010, including the possibility of malware targeting electronic voting systems, both those used in political elections and public telephone voting, such as that connected with reality television shows and competitions.

12. CAPTCHA Technology will improve: As this happens and spammers have a more difficult time breaking CAPTCHA codes through automated processes, spammers in emerging economies will devise a means to use real people to manually generate new accounts for spamming, thereby attempting to bypass the improved technology.

Symantec estimates that the individuals employed to manually create these accounts will be paid less than 10 percent of the cost to the spammers, with the account-farmers charging $30-40 per 1,000 accounts.

13. Instant messaging spam:  As cyber criminals exploit new ways to bypass CAPTCHA technologies, instant messenger (IM) attacks will grow in popularity. IM threats will largely be comprised of unsolicited spam messages containing malicious links, especially attacks aimed at compromising legitimate IM accounts.

By the end of 2010, Symantec predicts that one in 300 IM messages will contain a URL. Also, in 2010, Symantec predicts that overall, one in 12 hyperlinks will be linked to a domain known to be used for hosting malware.

Thus, one in 12 hyperlinks appearing in IM messages will contain a domain that has been considered suspicious or malicious. In mid 2009, that level was 1 in 78 hyperlinks.

14. Non-English spam will increase: As broadband connection penetration continues to grow across the globe, particularly in developing economies, spam in non-English speaking countries will increase. In some parts of Europe, Symantec estimates the levels of localised spam will exceed 50 percent of all spam.

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WNS Awarded Multi-Year Outsourcing Contract With Chiquita Brands International

November 30th, 2009

WNS (Holdings) Limited (NYSE: WNS), a leading provider of global business process outsourcing (BPO) services, today announced it has been awarded a multi-year contract with Chiquita Brands International, Inc. (NYSE: CQB) to deliver finance and accounting services. Under this multi-year agreement, WNS will provide finance and accounting back office services to Chiquita’s business entities in North America, Europe and Latin America. The contract with Chiquita marks WNS’s entry into Latin America where the company will look to significantly expand and grow its business.

“This agreement with Chiquita not only underscores our deep experience and successful track record in finance and accounting outsourcing, but also represents a significant global expansion for the company into Latin America,” said Anup Gupta, Group Chief Operating Officer of WNS Global Services. “We look forward to partnering with Chiquita to help them achieve higher levels of operational efficiencies.”

Serving Chiquita in both English and Spanish, the scope of the agreement includes General Accounting, Fixed Assets, Data Standards, Credit Management, Billing, Collections, Dispute Management, Cash Application, Accounts Payable and Travel & Expense.

Source:http://money.cnn.com/news/newsfeeds/articles/marketwire/0563607.htm

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Firms can mitigate IT skills shortage

November 30th, 2009

The shortage of information and communications technology skills in developed countries could become a serious issue once the worldwide economic crisis starts easing.

This will be exacerbated by the falling number of masters and PhD holders in science and engineering, restrictions on cross-border movement of IT professionals and the US H-1B visa programme.

However, this vicious circle could be mitigated by the Indian service firms increasingly recruiting internationally, according to a new OECD report on employment trends in the ICT sector.

The report notes that Indian tech firms like TCS [ Get Quote ], Wipro [ Get Quote ] and Infosys [ Get Quote ] have seen slower recruitment since the first quarter of 2008. However, the pent-up demand in the European economies and the US will ensure that good workers are available for the taking when these companies are looking to further expand their international operations.

“Concerns have been raised whether increased offshore activities could lead to a shortage of ICT skills in the OECD countries in the long term,” the report said, adding that such a shortage could reinforce the need for further offshoring as ICT skills shortage is known to be a driver for offshore outsourcing.

The report said that while no additional largescale layoffs have been announced by the top 10 IT services firms, employment levels will stay at almost the present levels until 2009-end.

IT services firms like IBM and Cap Gemini have announced slower hiring for 2009. So have Indian IT giants like Tata Consultancy Services and Infosys, which despite the crisis, still expect to grow in single digits in the third quarter of 2009-10.

The economic crisis has put IT service costs under pressure, but this may benefit outsourcing due to the increased internal cost-cutting and perceived benefits from more flexible external sourcing of IT and business process services.

The recent quarterly data on the outsourcing markets indicate that despite the number of outsourcing transactions still on the rise, revenue growth through IT and BPO will probably decline in 2009, due to the falling total contract values, the OECD report said.

However, the Asia-Pacific region has been performing well with TCV in the first half of 2009 increasing over 150 per cent over the first half of 2008.

The report suggested that higher TCVs in the APAC region could explain the optimism of the Indian tech service firms who have been changing their product-product mix to adapt to the changing market demands.

“Recruitments have already started to slow in the beginning of 2008 when new hiring by leading Indian service providers dropped 22 per cent in the first quarter of 2008 and by almost 50 per cent in the second quarter compared to the same period one year earlier.

These lower recruitment rates are also reflected in the decreasing number of new offshore centres opened by IT services firms,” the report added.

Source:http://business.rediff.com/report/2009/nov/30/tech-firms-can-mitigate-it-skills-shortage.htm

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C.Suisse to set up India outsourcing unit

November 30th, 2009

Investment bank Credit Suisse (CSGN.VX) will set up an in-house outsourcing centre in Mumbai, the Economic Times reported on Monday.

“Initially, the captive will focus on KPO (knowledge process outsourcing) but over a time will include other areas too,” Vineet Nagrani, Managing Director and head of knowledge process strategy at Credit Suisse, told the paper.

The investment bank will also work with third-party vendors such as Wipro (WIPR.BO), he told the paper.

In Pune, near Mumbai, the investment bank has a virtual captive unit that works out of a Wipro facility and employs around 2,000 people, the report said.

Source:http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBOM36472020091130

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Indian IT cos insulated from Dubai World crisis

November 30th, 2009

The Indian IT services and outsourcing industry is expected to remain insulated from the ongoing debt crisis in Dubai World, with firms having minimal exposure to the region. Industry insiders fear a long-term impact coming from banks and financial institutions that had lent to the Dubai World. These institutions could account for about 30% of the revenues of Indian IT companies.

Companies like Wipro Infotech, Infosys Technologies, TCS and Mahindra Satyam do not have many clients based out of the Middle East. The business they have there is marginal in terms of size of the contracts.

Viral Thakker, partner, sourcing advisory services practice, KPMG, said, “This geography was already facing risks since the last one year. Firms cannot just start focusing on other geographies immediately if there are any risks involved in a particular geography. However, there is no major exposure, with only single-digit revenues coming from Dubai. Therefore, we don’t expect any material impact on the IT industry due to the Dubai crisis.” A report by research firm CLSA too viewed the crisis in a similar perspective for the IT sector.

Wipro Infotech, a unit of Wipro Technologies that focuses on the India and Middle East market, said it does not expect any material impact of the Dubai crisis. Anand Shankaran, chief executive, Wipro Infotech, said, “We had seen an impact in Dubai about nine months to a year ago. We then took appropriate steps to mitigate the impact of the risks felt.” So, the firm started focusing on countries like Saudi Arabia, Abu Dhabi and expanded to Africa. “The revenues coming from Saudi Arabia have increased three fold since last year. Going ahead, we do not expect any material impact on our business coming from this geography.”

Wipro handles a number of clients in the Middle East. The company is in a five-year contract with Saudi Arabian Airlines for infrastructure management sized at about $100 million, a data centre hosting project for Abdullah University, Saudi Arabia, entire BSS/OSS implementation project for a greenfield telecom company in Saudi Arabia, infrastructure services project for road & transport authority of Dubai in UAE.

Source:http://www.financialexpress.com/news/-Indian-IT-cos-insulated-from-Dubai-World-crisis-/547784/

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Experts say outsourcing can save the economy

November 30th, 2009

Business Process Outsourcing is getting more important, as operators say it provides a way out of Nigeria’s troubled economy and massive unemployment.

Consequently, the outsourcing academy, in collaboration with some foreign partners, plan to set up certification centres in some Nigerian universities and polytechnics where individuals with a minimum of an Ordinary National Diploma can enrol and get certified in call centre, customer service and other out-sourced business processes.

Some of the higher institutions targeted for the pilot project include the Universities of Lagos, Nsukka and Abuja.

Experts have warned that the population advantage possessed by Nigeria can rapidly become a burden unless steps are taken to adopt ways of creating employment, and outsourcing is the key.

Process outsourcing is popular in countries like India, and was the topic of discourse at the just concluded, Customer Service & Contact Centre West Africa Conference in Lagos, organised by Aitec Africa, which served as a rendezvous for all outsourcing operators across the industries.

Keeping students engaged

The Chief Executive Officer, Business Process Outsourcing Academy of Nigeria, Obiora Madu, told NEXT on Sunday that certification training would start in January at the centre instead of the higher institutions. “We are not going to disorganise the students’ programmes when we enter the campuses, but we want to just plug into their curricula, especially in the final year. They only need to come into the centre for just two hours every day for a period of three months.”

“Candidates need to have keyboard skills with a minimum of 240 words per minute, and we would also train them on that.

We are looking at a minimum of 2,000 certified people in Nigeria before the end of 2010. We would be reaching out to government agencies, and are now looking for local partners in order to realise this revolution.”

He said the tuition and certification would cost $500. “Elsewhere in the world, governments are supporting their BPO industries, even the World Bank voted $50 million for BPO in Nigeria.

We need to build capacity in order to make our youth employable. When companies know we have the right talents for BPO, the industry will experience a tremendous growth,” he added.

Hope for the unemployed

For Sanjeeva Shukla, the Executive Vice-President of BPO Certification Institute (BCI), USA; “the choice of young people for employment in the BPO industry is informed by the fact that they are the ones who are looking for jobs; they are the ones who have the energy and can be trained very quickly to assume the roles of call centre agents.”

He told NEXT that the raw talent in India and elsewhere can be found in Nigeria, but that what is missing is the requisite training and certification. “If you want to compete better, you need to train and certify people – that is the bottom line.

If you reach out to universities and colleges, and embed the BPO training programme in their curricula, it becomes easier for the industry to hire these agents.

“In India, there are BPO certification programmes added to schools’ curricula. We (BCI) are working across 2,800 colleges and universities in the country, and by next year we would have about ten or fifteen thousand people getting trained and certified. As a matter of fact, there are about 60,000 BCI certified people working across industries in Asia.”

Mr. Shukla said individuals would be trained in Customer Service, Finance & Accounting, Back Office Transactions and Technical Support, through the BPO Academy Nigeria. “In this way, we are preparing agents not only for the call centres but for other forms of BPO that actually fetch more money.”
Ifeanyi Obiora-Okafo, Customer Service Director at Starcomms Plc. agrees that outsourcing is an opportunity for Nigeria to solve the problem of unemployment that is prevalent today. “There are people here in the country who have the competence and can deliver. If we do it right, I see a future when Nigeria becomes the next destination after India.”

The managing director, Customer Contact Solutions, Ikenna Odike, also told NEXT that working as a call centre agent is no ‘rocket science.’ “The important thing is getting good quality education. With First School Leaving Certificate and WAEC, individuals should be able to cope with call centre jobs provided they can speak English language well.”
On the issue of attrition (the voluntary and involuntary terminations and employee retirements that result in a reduction of the employer’s workforce), which he identified as a major problem facing the call centres, he said it can be reduced by recruiting students or those without university degrees. “Worldwide, it is said that the life span of a call centre agent is about 3-4 years. So if you employ an agent who is still a student, chances are that he/she would stay with you longer than the one with a degree.

But the unemployment situation in the country today has made it that even graduates are very willing to take up call centre jobs.

“In a country like South Africa, most of their call centre agents are not college graduates. You hardly find graduates even at managerial positions. Individuals with Matric (which is equal to our own WAEC) can go and enrol in call centre schools, get certified and with that can get jobs. It does not necessarily have to be something that must be channelled through the university system. It should be a separate institute that certifies people regardless of whether they have graduated from the university or not. So, those who want to pay their way through university can get a certification, get employed, and in that way achieve their goals,” Mr. Odike added.

The situation today

NEXT gathered that the Federal Government has ignored outsourcing despite the grant offered by the World Bank, and the successes recorded in India and other countries. Mr. Odike said the World Bank is working with Outsourcing Development Initiative of Nigeria (ODIN) to see ways of growing the outsourcing industry in Nigeria. “Honestly speaking, the Nigerian government is not doing much in that area, we are not seeing any meaningful support from them (government).

There should be a conscious effort by the government to acknowledge this significant source of income, as India today is making billions of dollars from BPO alone.”

Mr. Obiora-Okafo argues, “I would want to excuse the government since they have a lot of problems facing them today, which might explain why they have not paid attention to BPO.”

However, stakeholders in the BPO industry are clamouring for the establishment of an all encompassing association, which would serve as a platform for setting standards and promoting the industry. Mr. Madu notes that there is the need to lay down standards and policies that would encourage BPO, and practitioners who want to offer outsourcing services must meet certain required standards. “A lot of banks and telecom companies build their own contact centres instead of outsourcing it, from the fear that their sensitive information and data will not be protected.”

Mr. Obiora-Okafo agrees, “there is every need to standardise the practice; there is every need to create confidence in the public place about the industry. I have had this discussion with a couple of companies and everyone is saying they choose to build their own contact centre in order to protect their data.”

Source:http://234next.com/csp/cms/sites/Next/Money/Business/5488447-147/Experts_say_outsourcing_can_save_the.csp

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LG Electronics Quits PC Manufacturing

November 30th, 2009

LG Electronics, South Korea’s second-largest electronics maker, said Monday it has stopped the production of personal computers and is fully outsourcing it to local and Taiwanese companies.

For years, LG has gradually boosted outsourcing of personal computers to cut costs. LG’s direct production of personal computers ceased in September, according to company officials.

With the decision, a personal computer plant in LG’s plant in Kunshan, China’s Jaingsu Province, was switched to produce vehicle navigation systems, the company said.

Source : http://www.telecomskorea.com/business-8428.html

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