Speaking via video link at the OpenStack Summit in Boston, US, Snowden … “OpenStack makes you lose that fundamental, inherent vulnerability of …
The director of the NSA, Admiral Michael Rogers, just admitted at a Senate hearing that when Internet companies provide copies of encryption keys to law enforcement, the risk of hacks and data theft goes way up.
The government has been pressuring technology companies to provide the encryption keys that it can use to access data from suspected bad actors. The keys allow the government “front door access,” as Rogers has termed it, to secure data on any device, including cell phones and tablets.
Rogers made the statement in answer to a question from Senator Ron Wyden at the Senate Intelligence Committee hearing Thursday.
Wyden: “As a general matter, is it correct that anytime there are copies of an encryption key — and they exist in multiple places — that also creates more opportunities for malicious actors or foreign hackers to get access to the keys?
View the exchange in this video.
Security researchers have been saying for some time that the existence of multiple copies of encryption keys creates huge security vulnerabilities. But instead of heeding the advice and abandoning the idea, Rogers has suggested that tech companies deliver the encryption key copies in multiple pieces that must be reassembled.
“The NSA chief Admiral Rogers today confirmed what encryption experts and data scientists have been saying all along: if the government requires companies to provide copies of encryption keys, that will only weaken data protection and open the door for malicious actors and hackers,” said Morgan Reed of the App Association in a note to VentureBeat.
Cybersecurity has taken center stage in the halls of power this week, as Chinese president Xi Jinping is in the U.S. meeting with tech leaders and President Obama.
The Chinese government itself has been linked with various large data hacks on U.S. corporations and on U.S. government agencies. By some estimates, U.S. businesses lose $ 300 billion a year from Chinese intellectual property theft.
One June 2nd, the Senate approved a bill called the USA Freedom Act, meant to reform the government surveillance authorizations in the Patriot Act. The Patriot Act expired at midnight on June 1st.
But the NSA has continued to push for increased latitude to access the data of private citizens, both foreign and domestic.
Join us for this live webinar on Wednesday, September 30 at 10 a.m. Pacific, 1 p.m. Eastern. Register here for free.
Let’s say you’ve navigated early stage growth, the company’s looking bullet-proof inside and out, and your sites are set on going public. Well, you better start thinking like a public company now in terms of tax-planning or risk a mess of trouble when you’re ready to pull the trigger.
The same applies if you’re hoping for a valuable exit. The last thing you need is potential buyers stumbling across something some not disclosed previously, or compliance not adhered to. It may result in a reduced offer, or the acquisition going south altogether.
The complexity of tax issues — particularly on the international stage — is hardly anything a tech CEO wants to think about when their main objective is getting product fit right and building a substantial user-base. But the devil’s in the details. Tax implication issues may affect the corporation, its shareholders, and investors — and during IPO planning, it all takes place in the context of an open market valuation of the stock.
With an exit, the amount of jurisdictions involved and the rules applying to each can makes things far more complex.
It’s why up-front tax planning for your company is so critical: it will identify all options, those that will open up opportunities and those that may take you down a rabbit hole, with a significant impact on after-tax proceeds in the end.
Our five-star panel of Silicon Valley tax experts will help you understand the kinds of important considerations your team needs to be on right now in order to navigate the next phase of growth. There are likely things you haven’t even thought of yet, so this is the perfect opportunity to take a few minutes out of your day and have an open consult — where you can freely ask questions and figure out next steps.
Don’t miss out!
In this webinar, you’ll:
- Gain greater visibility to common sales tax loopholes that often snag hot tech startups and entrepreneurs
- Determine whether sales tax is even an issue for your organization — you might be surprised.
- Learn ways that international tax in growth stage companies can be the make or break point for that next IPO
- Get a high level overview of other tax considerations like net operating losses, impact of stock compensation, and the states that are currently taxing cloud computing services.
Malcolm Ellerbe, Tax Partner, Armanino
David Sordello, CPA, Corporate Tax, Armanino
Jon Davis, Tax Partner, International Tax, Armanino
This webinar is sponsored by Avalara.
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