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Meta quarterly profit jumps but it sees volatility in ad market
Meta on Wednesday reported that its quarterly profit more than doubled from last year's figure as it looks ahead at a volatile ad market and lawsuits accusing it of profiting from "children's pain." "Meta earnings looked pretty good," said independent tech analyst Rob Enderle. "They have clearly cut back on the bleeding surrounding their metaverse efforts and the company appears to be on a more even keel right now." The tech giant said it made a profit of $11.6 billion as ad revenue climbed 23 percent to $34 billion when compared to the same period a year earlier. "We had a good quarter for our community and business," said Meta chief executive Mark Zuckerberg. The number of people using Facebook monthly rose slightly to 3.05 billion in a year-over-year comparison while monthly active users of Meta's "family" of apps was 3.96 billion a 7 percent increase from the same quarter in 2022, the company reported. Meta said it had trimmed costs, with layoffs and other belt-tightening measures started last year providing "greater efficiency." Meta had suffered a rough 2022 amid a souring economic climate and Apple's data privacy changes, which allowed users to block ad targeting, the pillar of Meta's business. Meta's vow of austerity on spending brought an unprecedented round of cost-cutting that saw the company lay off tens of thousands of workers since last November. Meta shares, which closed the formal trading day down, fell more than three percent further in after-hours trades to $289.50. Chief financial officer Susan Li said during an earnings call that Meta is seeing "volatility" in an ad market that started to soften when the conflict between Israel and Hamas began. "It's hard for us to attribute demand softness directly to any specific geopolitical event," Li said. "We have seen broader demand softness follow other regional conflicts in the past, such as in the Ukraine war, so this is something that we're continuing to monitor." Lawsuit peril Analyst Enderle maintained that Meta is at risk from lawsuits poised to damage its image and its wallet. Dozens of US states this week accused Meta of profiting "from children's pain," damaging their mental health and misleading people about the safety of its platforms. "In seeking to maximize its financial gains, Meta has repeatedly misled the public about the substantial dangers of its Social Media Platforms," argued a joint lawsuit filed in federal court in California. The states accused Meta of exploiting young users by creating a business model designed to maximize time they spend on the platform despite harm to their health. In total more than 40 states are suing Meta, though some opted to file in local courts rather than join in the federal case. Meta said the states were singling it out unfairly instead of working with social media companies to develop universal standards for the whole industry. "This landmark lawsuit could herald a seismic shift in how social media platforms approach product features and user engagement," said Insider Intelligence principal analyst Jeremy Goldman. "That said, even as tech stocks face uncertainty, Meta's consistent performance cements its leadership in the digital realm." Meanwhile, the European Union is seeking details on measures Meta has taken to stop the spread of "illegal content and disinformation" in light of the conflict between Israel and Hamas. The AI race The tech giant is putting artificial intelligence into digital assistants and smart glasses as it seeks to gain lost ground in the AI race. "I'm proud of the work our teams have done to advance AI and mixed reality with the launch of Quest 3, Ray-Ban Meta smart glasses, and our AI studio," Zuckerberg said in the earnings release. The second-generation Meta Ray-Ban smart glasses made in a partnership with EssilorLuxottica have a starting price of $299. "Smart glasses are the ideal form factor for you to let AI assistants see what you're seeing and hear what you're hearing," Zuckerberg said. Meta has taken a more cautious approach than its rivals Microsoft, OpenAI, and Google to push out AI products, prioritizing small steps and making its in-house models available to developers and researchers. "The majority of the world's population will have their first experience of generative artificial intelligence with us," Meta chief technology officer Andrew "Boz" Bosworth told AFP in a recent interview. Meta recently unveiled AI-infused chatbots with personalities, along with tools for creating images or written content using spoken prompts. The post Meta quarterly profit jumps but it sees volatility in ad market appeared first on Daily Tribune......»»
Modern cars are a data privacy ‘nightmare’ says study
The world's most popular car brands are a data "privacy nightmare," collecting and selling personal information in an age when driving is going increasingly digital, a study showed on Wednesday. The California-based Mozilla Foundation reviewed 25 car brands and said none of them fully satisfied its standards on privacy and that no other product category had ever received as poor a review, including makers of sex toys or mental health apps. "Modern cars are a privacy nightmare" at a time when "car makers have been bragging about their cars being 'computers on wheels'", said Mozilla, which is best known for its privacy-conscious Firefox web browser. "While we worried that our doorbells and watches that connect to the internet might be spying on us, car brands quietly entered the data business by turning their vehicles into powerful data-gobbling machines," Mozilla said. Tesla was the worst offender, according to the study, with Nissan coming in second and singled out for seeking some of the "creepiest categories" of data, including sexual activity. The study found that a staggering 84 percent of car brands admitted to sharing users' personal data with service providers, data brokers, and other undisclosed businesses. Most of them, 76 percent, said they sold on their customers' data and more than half said they share data with government and law enforcement on request. Today's connected vehicles not only mine data from driving, but track in-vehicle entertainment and third-party functions such as satellite radio or maps. An overwhelming majority of car brands, 92 percent, were found to provide users with little to no control over their personal data with only France's Renault and its Dacia brand allowing users the right to delete data, probably out of compliance with European Union law. Mozilla complained that none of the car brands - which also included Ford, Chevrolet, Toyota, Volkswagen, and BMW - would confirm they met the foundation's minimum security standards when 68 percent were subject to data leaks, hacks or breaches in the last three years. The post Modern cars are a data privacy ‘nightmare’ says study appeared first on Daily Tribune......»»
AFP sues Musk’s X over copyright
AFP news agency launched a copyright case in France on Wednesday against social media giant Twitter, recently rebranded X, part of a global struggle to get tech firms to pay for news. Media groups have long argued that their stories and images bring value to platforms like X, Facebook and Google, meaning they should get a slice of the profits. Their cause was boosted by a 2019 EU law that allowed for payments for sharing content under a regime called "neighbouring rights", and Google and Facebook eventually agreed to pay some French media outlets. But AFP has accused X, owned by billionaire tycoon Elon Musk, of a "clear refusal" to engage in discussions on neighbouring rights. AFP said in a statement it had lodged a case with a judge in Paris to force the platform to hand over data that would allow the French news agency to estimate a fair level of compensation. "As a leading advocate for the adoption of neighbouring rights for the press, AFP remains unwavering in its commitment to the cause," the statement said. "The Agency will continue to employ the appropriate legal means with each relevant platform to ensure the fair distribution of the value generated by the sharing of news content." Contacted by AFP, the company was not immediately available for comment. Although media groups in France have won some victories, big tech firms have pushed back hard in other regions. Meta blocked users of Facebook and Instagram in Canada from seeing posts from news organisations this week over a law that mandates compensation for the content. Google has threatened to take similar action. Meta and Google also opposed similar proposals in Australia. The two firms dominate online advertising and stand accused of draining cash away from traditional news organisations while using their content for free. X, as a much smaller platform, has not faced the same level of scrutiny. The post AFP sues Musk’s X over copyright appeared first on Daily Tribune......»»
Musk says Twitter has lost half its advertising revenue
Twitter has lost roughly half of its advertising revenue, according to owner Elon Musk, since he bought the social media platform for $44 billion last October. Musk, who has been outspoken about the difficulties facing the company, broke the figures in a tweet response to a user who was giving suggestions on financing for the platform. "We're still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load," the billionaire tweeted Saturday. "Need to reach positive cash flow before we have the luxury of anything else," he added, without further elaboration. Insider Intelligence has reported that Twitter was set to earn less than $3 billion in revenue in 2023, down one-third from 2022. Changes instituted by Musk since his takeover of Twitter have turned off users and advertisers alike. Earlier this month, Musk announced that Twitter was limiting verified accounts to reading 10,000 tweets a day, in a bid "to address extreme levels of data scraping" and "system manipulation" by third-party platforms. Non-verified users -- the free accounts that make up the majority of users -- are limited to reading 1,000 tweets per day, while new unverified accounts are limited to 500 tweets. Twitter has also said TweetDeck, a popular program that allows users to monitor several accounts at once, will only be available to verified users from next month. The changes came as Threads, an app launched by Facebook parent Meta as a rival to Twitter, registered more than 100 million users in its first five days. Earlier this year, the artificial intelligence app ChatGPT, created by OpenAI, took two months to reach the same number of active users. According to some estimates, Threads has now reached 150 million users, with India leading the way, boosted by its link to Instagram which gives it a built-in audience of more than two billion users and spares the platform the challenge of starting from scratch. Twitter is thought to have around 200 million regular users but it has suffered repeated technical failures since Musk bought the platform and sacked thousands of staff. Legal battles Many have expressed privacy concerns over Meta CEO Mark Zuckerberg's new platform, which asks users to give Meta permission to track them closely across the internet. Those demands have delayed the launch of Threads in Europe, where new legislation limits the ability of Meta to track and share data across its family of platforms. Its business model revolves around sucking up personal data to use for targeted ads and Threads accounts are linked to Instagram accounts. But few expect Threads to maintain its embargo in Europe indefinitely. European law expert Alexandre de Streel said big tech firms would probably be hammering out compliance issues with the EU over the coming months. "I think it's more a question of time to understand the scope of the legislation and have a dialogue with the commission," he said. Musk has also threatened to sue Meta for stealing trade secrets and intellectual property, claims denied by the company. In a letter to Zuckerberg, published by the online news outlet Semafor this week, Musk's lawyer also accused the company of recruiting dozens of former Twitter employees who "had and continue to have access to Twitter's trade secrets and other highly confidential information." The two men have been bickering for years, but things have become heated since it became clear Meta intended to compete with Twitter. The post Musk says Twitter has lost half its advertising revenue appeared first on Daily Tribune......»»
Musk threatens to sue Meta over Threads
Elon Musk’s Twitter is threatening to take Facebook’s parent company, Meta, to court over its new rival social media app, Threads. In a letter to Meta CEO Mark Zuckerberg, Twitter’s lawyer, Alex Spiro, accused Meta of using “Twitter’s trade secrets and other intellectual property” to build Threads. Spiro also suggested that Meta had been “crawling and scraping” Twitter data on users and followers by reminding the company such activity is “expressly prohibited.” A spokesman for Meta denied the allegations, saying that no former Twitter employees are working on Threads and that the app is not powered by Instagram. Twitter representatives did not immediately respond to requests for comment. The letter comes amid growing tension between Musk and Zuckerberg. The two men have been trading barbs on social media, and Zuckerberg has even taken shots at Twitter and Musk in public. It remains to be seen whether Twitter will actually sue Meta. However, the letter is a sign of the increasing legal battles between the two tech giants. Threads is a new social media app from Meta that is designed for close friends and family. The app allows users to share photos, videos, and text messages with a select group of people. Twitter is concerned that Threads may be a copycat of its own app, Fleets. Fleets was a short-lived feature on Twitter that allowed users to share ephemeral posts that disappeared after 24 hours. In the letter to Zuckerberg, Spiro accused Meta of using “Twitter’s trade secrets and other intellectual property” to build Threads. Spiro also suggested that Meta had been “crawling and scraping” Twitter data on users and followers by reminding the company such activity is “expressly prohibited.” A spokesman for Meta denied the allegations, saying that no former Twitter employees are working on Threads and that the app is not powered by Instagram. The post Musk threatens to sue Meta over Threads appeared first on Daily Tribune......»»
TikTok sues to stop U.S. state’s ban
TikTok has filed a lawsuit in a United States federal court to stop the state of Montana from implementing a new law banning the video-sharing app statewide. The lawsuit filed on Monday called on the federal court to declare the Montana ban on its app unconstitutional and block the state from ever putting it into effect. “The state has enacted these extraordinary and unprecedented measures based on nothing more than unfounded speculation,” TikTok argued. Montana Governor Greg Gianforte signed the unprecedented prohibition into law on 17 May to “protect Montanans’ personal and private data from the Chinese Communist Party.” The lawsuit is the second to be filed against the ban. Last week, five TikTok users asked a federal court to overturn Montana’s ban on the app, arguing that it violates their free speech rights. The state is trying to exercise national security power that only the federal government can wield and is violating free speech rights in the process, both suits filed against Montana argue. The app is owned by Chinese firm ByteDance and is accused by a wide swath of US politicians of being under the tutelage of the Chinese government and a tool of espionage by Beijing, something the company furiously denies. Montana became the first US state to ban TikTok as debate escalates over the impact and security of the popular video app. The post TikTok sues to stop U.S. state’s ban appeared first on Daily Tribune......»»
Your Data, Your Rights: Proactive Steps for Personal Data Protection
Safer Internet Day 2024 comes amid data fears about limited access imposed on various popular apps, causing users to circumvent the new rules by downloading replacements. In an era where vast amounts of data are constantly being collected and analyzed, the risks of data breaches, identity theft, and invasion of privacy are more pronounced than […].....»»
Kaspersky Report: 1 in 3 Filipinos Face Threats from USBs, Removable Devices
Global cybersecurity company Kaspersky is urging Filipinos to be wary of careless plugging of USBs into their computers unless they have been scanned following the release of data that 36.80% of users in the Philippines were attacked by local threats from January to December 2023. Local threats are malware spread through removable media such as […].....»»
USB hack attacks: Philippines ranks 3rd in SEA
Global cybersecurity company Kaspersky has called on Filipinos to be cautious in plugging in memory storage universal serial bus devices to their computers unless these have been scanned, following the release of data that 36.80 percent of users in the Philippines were attacked by local threats from such devices last year......»»
Apple Reveals Innovative Security Feature to Defend Against Theft
Apple Introduces New iPhone Security Update to Thwart Thieves In a bid to enhance the security and protect users’ personal data, Apple is set to.....»»
Motorcycle taxi firm vows collaboration with government to validate safety record
Motorcycle ride-hailing company Move It said it will work with the government to validate its passenger safety data as well as other steps necessary to ensure that its app users are protected......»»
Focus on quality of drug cases – Sandigan Justice
Law enforcers should focus on quality operations in the campaign against illegal drugs after data showed that a majority of inmates detained on drug charges are considered street-level drug dealers and users, Sandiganbayan Associate Justice Karl Miranda said yesterday......»»
Record 114 million people now displaced worldwide: UN
The number of people displaced from their homes worldwide is estimated to have exceeded 114 million, the United Nations said Wednesday -- a record figure. The main drivers in the first half of 2023 were the conflicts in Ukraine, Sudan, Myanmar and the Democratic Republic of Congo; a prolonged humanitarian crisis in Afghanistan; and a combination of drought, floods and insecurity in Somalia, UNHCR, the UN refugee agency, said in a statement. "The number of people displaced by war, persecution, violence and human rights violations globally is likely to have exceeded 114 million at the end of September," the agency said. "The world's focus now is -- rightly -- on the humanitarian catastrophe in Gaza. But globally, far too many conflicts are proliferating or escalating, shattering innocent lives and uprooting people," said UN refugees chief Filippo Grandi. He blamed the international community's inability to solve or prevent conflicts and urged better cooperation to end violence and allow displaced people to return home. Record numbers The number of displaced people worldwide jumped from 108.4 million people at the end of last year to 110 million people by the end of June 2023, the UNHCR said in its Mid-Year Trends Report. A UNHCR spokesman confirmed to AFP the 114 million figure at the end of September was a record since the agency began collecting data in 1975. The new estimate precedes the outbreak of the war between Hamas and Israel. Hamas gunmen poured into Israel on October 7, beginning an attack that killed more than 1,400 people, mostly civilians, while also kidnapping more than 220 others, according to Israeli officials. Gaza's Hamas-run health ministry says retaliatory Israeli strikes have killed more than 6,500 people. The number of people internally displaced within Gaza is estimated at about 1.4 million, according to the UN humanitarian agency OCHA. One in 73 displaced More than one in 73 people around the world are forcibly displaced, the UNHCR said. At mid-2023, there were 35.8 million refugees who had fled abroad, and 57 million internally displaced persons (IDPs). Millions more are asylum seekers or in need of international protection. Almost one-third of all displaced people originated from just three countries: Afghanistan, Syria and Ukraine. Low- and middle-income countries hosted 75 percent of refugees and other people in need of international protection. The countries hosting the most refugees are Iran and Turkey at 3.4 million each; Germany and Colombia with 2.5 million each; and Pakistan with 2.1 million. Nearly half of Syria's population remained displaced at mid-2023: 6.7 million people within the country and 6.7 million refugees and asylum-seekers, with most hosted in Turkey. Globally, 1.6 million new individual asylum applications were made between January and June 2023 -- the largest number ever recorded in the first six months of any given year. Of those, 540,600 claims were in the United States, 150,200 in Germany and 87,100 in Spain. "As we watch events unfold in Gaza, Sudan and beyond, the prospect of peace and solutions for refugees and other displaced populations might feel distant," said Grandi. "But we cannot give up. With our partners we will keep pushing for -- and finding -- solutions for refugees." Some 3.1 million people did return home between January and June, including 2.7 million IDPs. The post Record 114 million people now displaced worldwide: UN appeared first on Daily Tribune......»»
Dozens U.S. states sue Meta
Dozens of American states on Tuesday accused Facebook and Instagram owner Meta of profiting “from children’s pain,” damaging their mental health and misleading people about the safety of its social media platforms. In total, more than 40 states are suing Meta, though some opted to file in local courts rather than join in the federal case. Meta has exploited young users by creating a business model designed to maximize time they spend on the platform despite harm to their health, the joint lawsuit filed in federal court in California claimed. “Kids and teenagers are suffering from record levels of poor mental health and social media companies like Meta are to blame,” New York Attorney General Letitia James in a statement announcing the suit. The suit urges the federal court to order Meta to stop manipulative tactics and pay hefty financial penalties along with restitution, according to James. Meta said it was “disappointed” by the suit and that the states were not working with the array of social media companies to create age-appropriate standards. Meta maintained that it has developed more than 30 tools in its apps to support teenage users, and made it easier for parents to “shape” online activity. The Silicon Valley tech firm contended it is disappointing that attorneys general have singled out Meta instead of seeking industry-wide solutions given the popularity of rivals including TikTok, YouTube and Snap. Social media can also be a place where young people struggling with other issues in their lives go to find support of community, Meta maintained. The post Dozens U.S. states sue Meta appeared first on Daily Tribune......»»
Lenovo treats Phl as top Southeast Asian market
Even if neighboring countries in the Southeast Asian region are advantageous in terms of being technology savvy, the Philippines remains an integral market according to an official of Lenovo, a Chinese multinational technology company specializing in designing, manufacturing, and marketing consumer electronics, personal computers, software, business solutions, and related services. “We see strong demand for the Philippines, the only question is how the consumers get the technology. The pandemic has even made the demand for the Philippines surge because of the digital transformation, unlike pre-pandemic where everyone is scrambling. Right now, because of the transformation, growth is very evident. In other words, investments, including Lenovo technologies are still in demand in the market,” according to Giancarlo Nogales from the Infrastructure Solutions Services Sales of Lenovo Philippines at the sidelines of the VST ECS CXO Tech Summit at the Dusit Thani in Mactan Cebu. “In terms of devices, the Philippines is actually doing well,” he added. Last August, the company said that over the next three years, Lenovo is committing a further $1 billion in investment for artificial intelligence that will focus on providing AI devices, AI-ready, and AI-optimized computing infrastructure, and embedded AI-generated content into the intelligent solutions of vertical industries to help customers improve their productivity. Lenovo in September 2023 has unveiled new cutting-edge tech tools and essentials tailored to empower the dynamic, evolving needs of today’s business end-users. It said that the new monitor, software, and accessories are not only designed to boost the capabilities of today’s remote and hybrid workforces but also to address significant challenges faced by businesses as they digitize operations across departments. “Lenovo research shows that managing a remote workforce and global teams remain central tasks for CIOs.1. That is why the new offerings integrate impressive processing power, immersive 3D, and advanced security to create a unified, human-centered experience,” the company said. Further, Nogales added that sales for Lenovo in the Philippines will continue to soar as the country has a bigger population which connotes demand compared to other nations in SE Asia. What Lenovo can count on with the Philippines is the demand for laptops and tablets that are now being used by students, educators, workers, and even the government. “Actually, we have an ongoing engagement with the government sector. I was at an event with the DICT (Department of Information and Communications) and we had discussions with the Department of Education as well, but we still understand what they are looking for. Of course, with DepEd, it’s a big agency, and what I can say is we are working with them across whatever we can offer—cloud technologies, among others,” he told the DAILY TRIBUNE. Nogales said he sees an ongoing digital transformation within organizations and will continue over the coming years. Digital transformation is an ongoing journey Meanwhile, VST ECS president and CEO Jimmy Go stressed that in the ever-evolving world of technology, organizations are charting a course - through a landscape that has seen profound advancement in recent years. “It's important to understand that digital transformation is not a one-time event but an ongoing journey. Every day, we bear witness to the unveiling of new digital technologies. In this dynamic environment, the lines between the physical and digital worlds are blurring, creating a phenomenon known as phygital convergence," he said. He said organizations nowadays stand at the threshold of a remarkable technological revolution. “Generative AI is the talk of the town with Chat GPT and other AI, offering organizations the power to intelligently automate customer experiences and streamline internal operations. The implications of this technology are far-reaching. Microsoft is launching CoPilot and most software applications are incorporating AI in their applications. Gartner predicts that by 2030, a staggering 80 percent of people will interact with smart robots daily, and in just two years, these smart robots will become workforce partners for 90 percent of global companies,” he said. Further, Go stressed that AI and machine learning, once a novel concept, have become integral to the products and services offered by major companies. “A mere decade ago, we were learning to communicate with machines. Today, machines understand and adapt to our language, erasing the boundaries between humans and technology. While AI is currently the headline in the tech world, we must not lose sight of the critical need to modernize our IT infrastructure,” he stated. For organizations to embrace technology, he said it’s a pivotal step in allowing organizations to embrace the latest technology trends, including Multi Clouds, Quantum computing, Data explosion, RPA, Generative AI, and more. “Investments in Connectivity solutions, Digital Infrastructure, Cloud technologies, Cybersecurity, Big data, Storage, Automation, and Collaboration tools remain vital to prepare for the ever-evolving Tech landscape. In the Israel-Hamas and Ukraine-Russia wars, Technology plays a very important and critical role in their war strategies. Computers, AI, Starlink, and drones are heavily used in their strategies,” he said. The post Lenovo treats Phl as top Southeast Asian market appeared first on Daily Tribune......»»
Observe ‘cyber hygiene,’ judicial personnel urged
The Supreme Court has directed all judiciary officials and personnel to strengthen the courts’ cybersecurity measures to protect sensitive data and minimize the risk of cyber threats. Acting Chief Justice Marvic M.V.F. Leonen issued the directive as Chief Justice Alexander G. Gesmundo is on official travel abroad, citing the recent data breach involving the Philippine Health Insurance Corporation or PhilHealth. In Administrative Order 150-2023 on “Proper Cyber Hygiene in Judiciary,” the SC said, “One of the most common ways of ransomware attacks is done through phishing emails, which usually contain malicious links or attachments.” The SC warned, “Do not open these links or attachments unless they have been verified to be legitimate.” Court officials and employees were advised to examine carefully the sender’s email address to avoid being victimized. “Phishers often use email addresses that look similar to ones used by legitimate organizations but may have small misspellings or inconsistencies. Always take a close look at the sender’s display name when checking the legitimacy of an email,” the SC said. Court officials and personnel were also instructed to protect personal information and double-check email attachments by scanning the same for viruses. On password security, the SC suggested that “under no circumstances should judiciary personnel use personal information and dictionary words in creating passwords.” Judiciary officials and employees were also urged to use a longer password containing numbers, symbols, and both uppercase and lowercase letters; to avoid the same password for multiple accounts; to consider passphrases or a sequence of random words instead of passwords; to use a password manager; and to enable a multifactor authentication system in their accounts. They were advised never to share their passwords with others, even those who claim to be from trusted institutions, and to ensure that any written passwords are stored securely. In protecting important files and ensuring their recovery in case of data loss, the guidelines recommend that court officials and personnel follow the “3-2-1 backup rule” to ensure data redundancy and availability in case of hardware failure, data corruption, or other catastrophes. The rule requires users to keep three copies of their data on two different media types, with one copy stored offsite. The post Observe ‘cyber hygiene,’ judicial personnel urged appeared first on Daily Tribune......»»
Neither estafa nor qualified theft (2)
In Balerta v. People, the Court found that juridical possession as an element of the crime of estafa by misappropriation was not present because the accused was a cash custodian with no independent right or title to the funds received: In the case at bench, there is no question that the petitioner was handling the funds lent by Care Philippines to BABMPC. However, she held the funds on behalf of BABMPC. She had mere physical or material possession over the funds but held no independent right or title, which she could set up against BARMPC. The petitioner was nothing more than a mere cash custodian. Hence, the Court finds that juridical possession of the funds as an element of the crime of estafa by misappropriation is absent in the instant case. In Reside v. People, the Court came to a similar conclusion and held that the accused, a school principal tasked to receive tuition fees and forward these to the school, did not have juridical possession over the funds received. In the case at bench, it cannot be gainsaid that the petitioner, in addition to her duties as principal, was authorized to receive or collect matriculation fees from the parents and/or students enrolled in TGWSI. Per a verbal agreement with De Dios, the petitioner shall forward all payments received together with the remittance voucher slips to the school. As it happens, the money merely passes into the petitioner’s hands, and her custody is only until the same is remitted to the school. Consequently, as principal and temporary cash custodian of TGWSI, the petitioner acquires only physical or material possession over the unremitted funds. Thus, being a mere custodian of the unremitted tuition fees and not, in any manner, an agent who could have asserted a right against TGWSI over the same, the petitioner had only acquired material and not juridical possession of such funds and, consequently, cannot be convicted of the crime of estafa as charged. The prosecution alleged that petitioner Medina was responsible for collecting remittances from the Department of Education, accepting premium payments from PPSTA members, and depositing these payments in PPSTA’s bank account, as instructed by the PPSTA Treasurer. The record is bereft of any allegation or proof that petitioner Medina had any independent right or title to these funds that she could set up against PPSTA. Contrary to the findings of the CA, petitioner Medina was not a “trustee” of the PPSTA members’ payments, as she received these sums as an employee of, and on behalf of, her employer. Consequently, petitioner Medina only had material and not juridical possession of these funds, and she cannot be convicted for estafa under Article 315 (b) (l) of the Revised Penal Code or RPC. Second, jurisprudence holds that a conviction for simple or qualified theft (in lieu of estafa) is possible if all the elements of theft are alleged in the information. However, the evidence on record needs to be more sufficient to convict petitioner Medina of theft, whether simple or qualified. Simple theft is committed when the following elements concur: (1) taking of personal property; (2) that the said property belongs to another; (3) that the said taking be done with intent to gain; (4) that it be done without the owner’s consent; (5) that it be accomplished without the use of violence or intimidation against persons, nor of force upon things; and (6) that it be done with grave abuse of confidence. Theft becomes qualified when committed with grave abuse of confidence, among other qualifying circumstances enumerated in Article 310 of RPC. (To be continued) The post Neither estafa nor qualified theft (2) appeared first on Daily Tribune......»»
‘Refrain from using AI image generators’
Defense Secretary Gilberto Teodoro Jr. has issued a memorandum order directing all employees of the Department of National Defense and personnel of the Armed Forces of the Philippines to refrain from using Artificial Intelligence photo generator applications, which may pose significant security risks. In an interview on Friday, DND spokesperson Arsenio Andolong said Teodoro’s internal order was primarily intended for the defense department and its attached agencies. “In light of the fact that the risks and threats posed by these AI applications have not yet been established with certainty, the Secretary of National Defense has deemed it prudent to advise our personnel and the bureaus, especially the AFP, to refrain from using these apps,” Andolong said. “We all know that the defense department and its attached bureaus have many high-profile personalities among us, and any violation of their privacy, of the theft of their data and their identities, poses a great risk to them,” he said. He added that such actions might have security implications amid the current state of available technologies. “I will not venture more into that because I’m not an IT expert, but this could be used for activities that may lead to compromising our national security,” Andolong added. In a memorandum order dated 18 October, Teodoro warned that AI-powered applications seemed “harmless and amusing” but could be “maliciously used” to create fake profiles that could lead to identity theft, social media engineering, phishing attacks, and other erring activities, which could compromise someone’s personal data. He said there had been a report of such a case. “The online trending digital application that uses Artificial Intelligence, which requires its users to submit at least 10 photos of themselves to generate an enhanced portrait, poses significant privacy and security risks. This application compiles its users’ data and creates a digital person that mimics how a real individual speaks and moves,” he said. The post ‘Refrain from using AI image generators’ appeared first on Daily Tribune......»»
The importance of cyber security
Cyberattacks are on the rise! In the past, we associated this terrifying incident with online banks and payment platforms. However, even government websites, not known as financial institutions, from which money may be stolen, or unauthorized payments are also targets. Last Sunday, 15 October, the website of the House of Representatives was vandalized before noon by a group calling itself “3MUSKETEERZ.” A face with a mocking meme with the phrases “You’ve been hacked” and “Have a nice day” appeared on the website. Below the face was the message, “Happy April Fullz Kahit October palang (even if it’s still)! Fix your website.” A few minutes later, the website went down and became inaccessible. Shortly after, the House of Representatives issued a statement assuring the public that the House had already taken action and coordinated with the government agencies concerned to deal with the matter. “While we work to restore the website fully, we ask for patience and understanding. We are committed to ensure the security and integrity of our digital platforms, and we will implement additional measures to prevent such incidents in the future,” the statement said. Relatedly, also recall that on 22 September, a system of the Philippine Health Insurance Corporation was similarly attacked, preventing access for a week. Reports stated the data breach affected employees’ workstations, application servers, and users’ data, including names, addresses, dates of birth, gender, phone numbers and PhilHealth identification numbers. On 31 August, the Department of Science and Technology’s OneExpert portal was also subjected to a cyberattack. In a statement on 13 October, the DoST assured the general public that the virtual assault compromised no personal data. In all the above instances, whether personal data or sensitive information were stolen, it causes alarm to us Filipinos. The call to government agencies and ordinary Filipinos to be vigilant and careful with our online information and accounts has become louder than ever. The same holds true for institutions and businesses, which, by the nature of their activities, are entrusted with and tasked to safeguard large amounts of personal information and are responsible for keeping this trust by whatever means appropriate. I now want to stress the importance of cyber security not just for individuals and juridical entities but for the entire nation holistically. Protection against cyber threats: In today’s digital age, cyber threats like hacking, data breaches, and identity theft are becoming more prevalent. Implementing robust cyber security measures helps protect us from these threats. Safeguarding sensitive information: Cyber security also helps protect sensitive information such as personal data, financial details and intellectual property. This is crucial for maintaining privacy and preventing unauthorized access or misuse of information. Maintaining trust, reputation, and credibility: Cyber security is essential for building trust with customers, clients, and partners. Organizations can maintain a positive reputation and avoid potential legal and financial consequences by committing to protecting their data and privacy. Compliance with regulations: Many industries have specific regulations and standards regarding data protection and privacy. Compliance with these regulations is not only important for avoiding penalties but also for ensuring ethical practices and responsible handling of data. Business continuity: Cyber attacks can disrupt operations, leading to financial losses, reputational damage, and even business closure. Implementing effective cyber security measures helps minimize these risks and ensures business continuity. Finally, I want to end by being deliberately redundant in stating that cyber security is crucial for protecting individuals, organizations, and society from the growing threat landscape in the digital world. Cyber attackers are on the prowl; we must be alert to the possibility of attack, ready even now to implement measures to effectively counter-act or prevent the same. The post The importance of cyber security appeared first on Daily Tribune......»»
Suit charges crypto firms with billion-dollar fraud
New York's attorney general on Thursday filed a lawsuit accusing cryptocurrency firms Gemini and Genesis with fraud that wound up costing investors more than a billion dollars. Gemini Trust Company, created by twin brothers Tyler and Cameron Winklevoss of early Facebook fame, misled investors about the risk of putting money into a program that involved loans that at one point were concentrated in Sam Bankman-Fried’s Alameda research trading firm, according to the suit. "Investors around the country lost more than a billion dollars because they were fed blatant lies that their money would be safe and grow if they invested it in Gemini Earn," New York attorney General Letitia James said in a release. Gemini offered people the chance to lend cryptocurrencies in exchange for high returns via a Gemini Earn program, according to the suit. Those loans included some to digital currency services platform Genesis, which in turn lent cryptocurrency to other players in the industry. But the bankrupcy of Bankman-Fried's Alameda Research and its FTX platform last year triggered panic in the market. Bankman-Fried is currently on trial in New York, facing fraud charges of his own. Unable to honor massive withdrawal requests, Genesis filed for bankruptcy in January. "Gemini hid the risks of investing with Genesis and Genesis lied to the public about its losses," James said. According to documents published at that time, Gemini loans to Genesis tallied some $765 million. Gemini was founded by the Winklevoss twins, who were made famous by the film "The Social Network" about the birth of Facebook. In a post at X, formerly known as Twitter, Gemini contended that the lawsuit confirms that the exchange and its users were "victims of a massive fraud and systematically lied to" by Genesis. "Blaming a victim for being defrauded and lied to makes no sense and we look forward to defending ourselves against this inconsistent position," Gemini said in the post. James accused Gemini of deceiving more than 230,000 investors. Her lawsuit also argues that former Genesis chief executive Soichiro Moro and Genesis parent company DCG with trying to conceal the massive losses. The litigation seeks to have Gemini, Genesis and DCG banned from New York's financial investment industry and pay restitution to investors who lost money. DCG defended itself in a post at X, saying it did nothing illegal. "I am shocked by the baseless allegations in the attorney general's complaint and intend to fight these claims in court," DCG founder and chief executive Barry Silbert said in the post. The post Suit charges crypto firms with billion-dollar fraud appeared first on Daily Tribune......»»