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Tag: apis

  • Thousands of Corporate Secrets Were Left Exposed. This Guy Found Them All

    Thousands of Corporate Secrets Were Left Exposed. This Guy Found Them All

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    If you know where to look, plenty of secrets can be found online. Since the fall of 2021, independent security researcher Bill Demirkapi has been building ways to tap into huge data sources, which are often overlooked by researchers, to find masses of security problems. This includes automatically finding developer secrets—such as passwords, API keys, and authentication tokens—that could give cybercriminals access to company systems and the ability to steal data.

    Today, at the Defcon security conference in Las Vegas, Demirkapi is unveiling the results of this work, detailing a massive trove of leaked secrets and wider website vulnerabilities. Among at least 15,000 developer secrets hard-coded into software, he found hundreds of username and password details linked to Nebraska’s Supreme Court and its IT systems; the details needed to access Stanford University’s Slack channels; and more than a thousand API keys belonging to OpenAI customers.

    A major smartphone manufacturer, customers of a fintech company, and a multibillion-dollar cybersecurity company are counted among the thousands of organizations that inadvertently exposed secrets. As part of his efforts to stem the tide, Demirkapi hacked together a way to automatically get the details revoked, making them useless to any hackers.

    In a second strand to the research, Demirkapi also scanned data sources to find 66,000 websites with dangling subdomain issues, making them vulnerable to various attacks including hijacking. Some of the world’s biggest websites, including a development domain owned by The New York Times, had the weaknesses.

    While the two security issues he looked into are well-known among researchers, Demirkapi says that turning to unconventional datasets, which are usually reserved for other purposes, allowed thousands of issues to be identified en masse and, if expanded, offers the potential to help protect the web at large. “The goal has been to find ways to discover trivial vulnerability classes at scale,” Demirkapi tells WIRED. “I think that there’s a gap for creative solutions.”

    Spilled Secrets; Vulnerable Websites

    It is relatively trivial for a developer to accidentally include their company’s secrets in software or code. Alon Schindel, the vice president of AI and threat research at the cloud security company Wiz, says there’s a huge variety of secrets that developers can inadvertently hard-code, or expose, throughout the software development pipeline. These can include passwords, encryption keys, API access tokens, cloud provider secrets, and TLS certificates.

    “The most acute risk of leaving secrets hard-coded is that if digital authentication credentials and secrets are exposed, they can grant adversaries unauthorized access to a company’s code bases, databases, and other sensitive digital infrastructure,” Schindel says.

    The risks are high: Exposed secrets can result in data breaches, hackers breaking into networks, and supply chain attacks, Schindel adds. Previous research in 2019 found thousands of secrets were being leaked on GitHub every day. And while various secret scanning tools exist, these largely are focused on specific targets and not the wider web, Demirkapi says.

    During his research, Demirkapi, who first found prominence for his teenage school-hacking exploits five years ago, hunted for these secret keys at scale—as opposed to selecting a company and looking specifically for its secrets. To do this, he turned to VirusTotal, the Google-owned website, which allows developers to upload files—such as apps—and have them scanned for potential malware.

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    Matt Burgess

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  • American Express tech stack | Bank Automation News

    American Express tech stack | Bank Automation News

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    American Express’ recent technology investments include product development and tech stack enhancements.  In the second quarter of 2023, the financial institution increased expenses 23% year over year to $402 million, according to its earnings supplement, with the increase primarily driven by higher technology costs. The $245 billion financial institution’s tech focus continued into the third […]

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    Whitney McDonald

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  • Goldman Sachs Transaction Banking launches 3 innovations | Bank Automation News

    Goldman Sachs Transaction Banking launches 3 innovations | Bank Automation News

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    Goldman Sachs Transaction Banking is focused on eliminating friction in the global payments space, including user experience, onboarding and accessibility.   The $1 trillion bank identified three areas of friction that it has addressed using automation, Brinda Bhattacharjee, chief operating officer for Transaction Banking in platform solutions at Goldman Sachs, said last week at the […]

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    Brian Stone

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  • How banking as a service unlocks opportunity for the banking sector | Bank Automation News

    How banking as a service unlocks opportunity for the banking sector | Bank Automation News

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    As banking as a service (BaaS) nears mainstream adoption, there is a significant opportunity for banks to join the BaaS ecosystem, develop new relationships with fintech firms and create new revenue streams for themselves at the same time.

    Amit Dua, president, SunTec

    The mobile industry is one sector where we will see BaaS become readily adopted by mobile providers, fintech firms and banks. Smartphones — there are about 6.6 billion globally — have given people access to instant communication, and the financial services industry is beginning to understand that by offering smartphone users BaaS, they can facilitate day-to-day living and help families and businesses financially plan for everything from long-term goals to unexpected emergencies.

    Most mobile operators around the world offer the ability to make payments via phones but they don’t offer access to banking. Nearly 1.2 billion people worldwide want access to savings accounts and insurance, for example, both of which BaaS can enable.

    BaaS, while in its early stage of evolution, is fast becoming part of our day-to-day lives. As consumers, we are used to using apps such as Uber for frictionless transactions. We moved from cash to card and now to digital payments with relative ease, and our spending has probably increased as a result. Overall, all the players in the BaaS system will benefit — the banking provider, the technology company with a banking license, the charter or fintech, and the end consumer.

    BaaS benefits far outweigh short-term challenges

    The business of banking is moving out of the exclusive realm of banks and into a comprehensive ecosystem to bring personalized, customer-centric offerings to market faster. BaaS can enable banks to reach more customers, bring up their economies of scale and drive down costs. Accessing the data captured via BaaS leads to more personalized services and better customer relationship management and retention.

    As BaaS becomes more mainstream, regulators have noticed. Neobanks and fintech firms are providing a seamless digital banking experience, and they need a bank to offer cards, lending, money transfers and other banking services. Fintechs also have limited experience with compliance processes. A BaaS model, therefore, becomes critical in a highly regulated and competitive market. Banks have responded by enabling fintech firms and neobanks to have a bank’s resources and infrastructure to expand their offerings while lowering operating costs.

    In addition, banking services offered through APIs increase the risk of cyberattacks and security breaches if not carefully managed. Technical and operational constraints, like legacy infrastructure, can delay implementations and may require costly manual processes to overcome the limitations. Banks can align their business models and reduce risks by partnering with an experienced fintech that offers a secure digital layer that integrates seamlessly with multiple systems and offers end-to-end connection of business data.

    BaaS is developing globally

    BaaS is in its infancy, but adoption is growing. In the U.S. — where it is more challenging to receive a banking license than it is in Europe — BaaS providers are emerging.

    Meanwhile, in Indonesia, an enterprise software supplier that provides software for managing gyms must also allow the management of memberships, heavy machinery or equipment, and payment processing. The gym chain, along with a licensed bank, becomes a BaaS provider — another example of BaaS being employed by commercial enterprises.

    Customer expectations have changed: they want contextual, hyper-personalized, integrated banking experiences and on-demand access to banking. BaaS presents a new opportunity for financial institutions to acquire customers at lower cost, reach new customer demographics, grow revenues and deliver customer satisfaction.

    Amit Dua is the president of SunTec Business Solutions where he leads sales, business development, client engagement, alliances and industry solutions.

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    Amit Dua

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  • Wells Fargo launches automated same-day loans | Bank Automation News

    Wells Fargo launches automated same-day loans | Bank Automation News

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    Wells Fargo is launching a digital-only product that runs on microservices to provide small, same-day loans to clients.  The $1.8 trillion bank’s Flex Loan product has been in development since January and was integrated across multiple systems in real time using an API, Abeer Bhatia, CEO of retail financial services and personal lending at San […]

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    Brian Stone

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  • Bank and VC consortium to invest in emerging fintechs | Bank Automation News

    Bank and VC consortium to invest in emerging fintechs | Bank Automation News

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    Community banks and venture capital firms are joining forces through the newly launched BTech Consortium to help smaller financial institutions (FIs) invest in emerging fintech technologies to the tune of $100 million.   Through the consortium, banks will collectively invest funds to help power various technology initiatives, Fred Cummings, founder and president at VC Elizabeth […]

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    Brian Stone

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