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Apr 04 2023

Japan braced for rise in ransomware attacks after data breach

A hacking attack at Japan’s largest IT company is spilling across the country’s corporate sector, with cyber security experts warning that it could trigger a surge in attempts by organised criminal gangs to extort hefty ransoms from companies and their customers.

More than 10 Japanese companies have said in the past month that they have been affected by the hacking at Fujitsu, which supplies internet infrastructure to thousands of companies. The attack took place last year and allowed outside access to emails sent through a Fujitsu-based email system.

Fujitsu admitted last year that it was hacked but refused to disclose how many of its customers were targeted.

Tokio Marine & Nichido Fire, which is one of Japan’s largest underwriters of corporate insurance against cyber attacks and a prime target for ransomware gangs, acknowledged to customers last month that it was one of the companies potentially affected by the Fujitsu leak, according to two sources.

Tokio Marine began writing to its corporate clients to discuss the possible impact of the breach and the potential loss of sensitive data, said two people familiar with the matter.

“The response from Tokio Marine is very significant. Clients of insurers share a lot of data that ransomware gangs target, and there will be a lot of concern around what kind of access the hackers got,” said one cyber security analyst who advises a large listed company affected by the incident.

Tokio Marine said it took the situation seriously and was addressing the incident.

The technology giant Kyocera, clothing maker Goldwin and property developer Sekisui House have all said within the past month that they are also among the companies affected by the Fujitsu incident.

Cyber security experts said that the attack on Fujitsu was consistent with the tactics of highly professionalised gangs in Russia and Belarus who target Japanese companies and organisations because they often have relatively low-level defences, and their willingness to pay a ransom tends to be high. Experts said that the Cuba and LockBit ransomware gangs had been especially active in Japan over the past 18 months.

The cyber security consultancy IBM Security said in its 2022 report on the cost of data breaches that ransomware attacks were sharply on the rise, with the global average cost of a data breach rising to $4.35mn in 2022 — its highest since the research began.

The average global cost to companies of suffering a ransomware attack, said IBM, stood at $4.54mn, which did not include the payment of the ransom itself.

Fujitsu said it launched an internal investigation into the incident after it received information from the police on December 9. The company has apologised and said it was investigating and co-operating with affected clients.

It was the second significant attack on the group in as many years. In 2021, Fujitsu’s cloud service for government agencies was targeted by hackers, resulting in a data breach at the foreign ministry, the cabinet office and other ministries.

Written by Leo Lewis and Kana Inagaki in Tokyo · Categorized: entrepreneur, Technology · Tagged: entrepreneur, Technology

Apr 04 2023

Big Tech expected to ‘circumvent’ UK digital services tax, MPs warn

The world’s largest tech companies are expected to “circumvent” the British government’s special tax on digital companies before new international rules are implemented, MPs have warned.

In a report published on Tuesday, the House of Commons public accounts committee found that the digital services tax raised £358mn from 18 companies in its first year — 30 per cent more than expected. But it warned the “successful implementation” of the levy in 2020-21 was unlikely to continue.

It said that, since implementation of an international tax deal — set to replace the levy — was likely to be delayed, it expected companies would use “the huge resources and expertise at their disposal to circumvent” the digital services tax.

“While there may be no evidence of active tax avoidance or evasion by businesses to date, this may change if the life of the digital services tax is extended,” the report, which did not name any companies, concluded.

Ministers brought in the new digital services tax in 2020 as a temporary measure to address concerns that tech companies were declaring low profits in the UK by diverting profits made on UK sales to other countries with lower corporate tax rates.

Other countries, such as France, Spain, Italy and Turkey, implemented similar measures. Most, including the UK, have said they would repeal the levy once an OECD agreement, which would allow countries to tax an element of the largest multinationals’ profits where they make their sales, is implemented.

Although the process is progressing at the Paris-based international organisation, there are few signs that the US Congress will ratify any agreement even if the Biden administration were to sign up.

Sarah Olney, the Liberal Democrat MP who led the PAC inquiry, said: “We were very pleased to see [HM Revenue & Customs] finally getting to grips with the realities of taxing multinational corporations . . . But [HMRC] needs to up its game on compliance — especially across jurisdictions — about how the tax will actually operate, over what will probably be years more before a proper international tax is fully operational.”

Neil Ross, associate director of policy at industry group TechUK, rejected the report’s suggestion that businesses would seek to find ways to circumvent the tax as “surprising and unfounded”. He added: “From our perspective, companies are trying to get clarity and information out of HMRC in order to comply. But HMRC was very slow and not effectively resourced.”

But he agreed that the tax was a “second-best option . . . Political attention should be focused on getting the OECD framework agreed.”

The Treasury and HMRC also dismissed the PAC’s warning that companies would circumvent the tax, saying it was relatively easy to operate. Officials said the tax system also had other ways, including the diverted profits tax, to ensure tech giants paid their fair share.

“The digital services tax has proved highly effective at taxing the UK revenues made by online businesses ahead of new international rules,” HMRC said. It added that it had “an extremely strong track record on multinational tax compliance”.

Written by Chris Giles and Ian Johnston in London · Categorized: entrepreneur, Technology · Tagged: entrepreneur, Technology

Apr 04 2023

The Difference Between Toxic Positivity And Negativity And How They Impact Individuals, Teams, And Organizations

by Joshua Berry, founder of Econic

You’re not coming at this from the right angle. Just think more positively. Keep that thought to yourself.

We’ve all heard statements like these at some point in our lives, and they seem even more prevalent in the world of business. While business leaders want to promote positivity, is there a point where it can turn toxic? Or, what about a business environment that lacks positivity altogether and focuses only on the negative in any situation?

Toxic Positivity and Negativity: What Are The Differences?

Toxic positivity is expecting an optimistic and overly positive outlook no matter what the situation is. Have you ever felt guilty for feeling an emotion such as sadness, frustration, or anxiety? Perhaps you decided these feelings aren’t acceptable, and in an attempt to “get rid of them,” you pushed them down and tried masking them by telling yourself that “there’s no need to feel this way… just be positive.” This is a classic example of toxic positivity which can manifest internally or be expressed externally by others. This appropriately-named way of thinking is poisonous to humans, in large part because it invalidates and dismisses a person’s genuine feelings.

Negativity can be just as toxic, but it works differently with its effect on people. Instead of relying on positivity as a bandaid for sticky emotions as toxic positivity does, negativity expects and encourages unpleasant emotions – no matter the situation. This attitude dwells on negative emotions offering little to no room for creating solutions. There’s no silver lining, glass half full, or upside to any situation or experience.

Both toxic positivity and negativity create barriers and often damaging consequences when it comes to their presence within a business ecosystem that’s made up of individuals, teams, and organizations. When we are perpetually negative or expressing toxic positivity, we close the door on empathy, awareness, and authenticity – 3 crucial functions of business leadership.

Empathy.

Toxic positivity and negativity slam the door shut when it comes to any genuine connection with others. Empathy is the energy that propels the prosperity of any business ecosystem. Without it, the ecosystem would soon crumble as individuals can never feel safe in a place that doesn’t connect with them by either invalidating their feelings or not holding the emotional space to understand them.

A healthy team requires raw, organic materials – we can think of these natural elements as the thoughts and feelings of others. In order to keep the business ecosystem thriving, you must not fear sticking your hands into the dirt that surrounds each part of it. This means accepting all emotions that arise and addressing any negativity in the workplace.

Awareness.

We have tunnel vision when we’re engrossed in negativity or toxic positivity. Instead of seeing things as they are, we experience our business ecosystem with close-mindedness and a lack of awareness. Without this awareness, we cease to exist in reality and limit ourselves to the confines of a small and fixed inner world that we incorrectly deem as truth. We then project this distorted view of reality to those around us by dismissing others’ feelings, thoughts, and perspectives. If their actions don’t align with our idea of how things should be done, we shut them down.

The lack of awareness that coincides with toxic positivity and negativity makes it nearly impossible for the business ecosystem to survive – let alone, flourish. How can we protect and enhance an ecosystem when we can’t see all the moving parts?

Authenticity.

Authenticity requires us to acknowledge and accept all of our emotions, negative and positive. When we’re working from negativity or toxic positivity, we aren’t being our truest selves as we aren’t genuine with our perspectives, feelings, thoughts, and experiences. This lack of acceptance can lead to individuals losing touch with their inner selves causing a disconnect with reality, a lack of clarity, ingenuine relationships, loss of individuality, and feelings of unfulfillment.

Inauthenticity as a byproduct of negativity or toxic positivity makes it nearly impossible for a healthy work environment, as individuals aren’t meant to suppress their true selves by putting on this facade comprised of ingenuine feelings.

Final Thoughts

Toxic positivity and negativity are threats to any business ecosystem. They leave no room for empathy, awareness, or authenticity which are paramount to leading a team to success. Once you better understand how toxic positivity and negativity can impact your business, there’s no doubt that you’re closer to a more prosperous and healthier environment for you, your team, and your organization.

Joshua Berry is the founder of Econic, a consulting firm and Certified B-Corp focused on innovation, leadership, and the future of work. A world-class facilitator and speaker, Joshua has sparked change at organizations like John Deere, US Bank, P&G, Blue Cross Blue Shield, Ameritas, and Teach for America. Joshua’s new book, “Dare to Be Naive: Unleash Ripples of Impact in Life and Business”, debuts in Spring/Summer 2023.

Written by Contributor · Categorized: entrepreneur, youngupstarts · Tagged: entrepreneur, youngupstarts

Apr 04 2023

TikTok censured for misusing children’s data

The UK’s data watchdog has fined TikTok £12.7mn for breaking the law on the protection of children’s data, amid mounting global concern about the Chinese-owned social media app.

The Information Commissioner’s Office on Tuesday said it estimated that up to 1.4mn UK children aged under 13 had used the viral-video app in 2020, even though TikTok’s own rules forbid children younger than 13 from creating accounts.

The platform had failed to gain parental consent to use children’s data, contravening UK data protection laws, the regulator said.

“TikTok should have known better, TikTok should have done better,” said John Edwards, the UK information commissioner.

The group has a right to appeal the fine within 28 days. “We will continue to review the decision and are considering next steps,” it said.

The fine, the first issued by the ICO for under 13s accessing an online service, comes as TikTok faces a regulatory onslaught from governments around the world.

TikTok’s chief executive was grilled by US legislators last month as the social media app attempted to head off a potential US ban over national security fears linked to its Chinese ownership.

A number of jurisdictions, including the UK, EU, Canada and the US, have banned TikTok from government devices.

In response to mounting pressure, TikTok last month laid out new measures to protect users’ data in Europe. It will open two data centres in Dublin and a third in Norway to store videos, messages and personal information generated by 150mn European users of the platform.

The ICO investigation found that TikTok “did not respond adequately” when a concern was raised internally with senior employees about children under 13 using the platform.

TikTok said it had taken steps to prevent children from accessing its platform. It also publishes information on how many accounts are linked to users it suspects are under 13.

The social media app said it removed more than 17mn accounts in the last three months of 2022.

“We invest heavily to help keep under-13s off the platform and our 40,000-strong safety team works around the clock to help keep the platform safe for our community,” said TikTok.

The UK government is set to introduce its Online Safety Bill, which will bring in tougher requirements for social media companies and could lead to jail sentences for tech executives who fail to protect children online.

The ICO’s investigation into TikTok, which covered activity from May 2018 to July 2020, concluded before the regulator introduced stricter requirements on the processing of children’s data.

TikTok’s fine was reduced from a £27mn charge proposed in September, after the regulator dropped findings relating to the processing of “special category data”, such as personal or biometric data.

Baroness Beeban Kidron, who founded children’s privacy charity 5Rights Foundation, said the tech sector should “accept the principle of delivering products and services with basic safety built in by design”.

“The future of tech will not be built on the back of children’s anxiety, inappropriate content and dangerous activities — but will be an accountable and regulated sector that prioritises the impact on children over profits,” she added.

Written by Ian Johnston · Categorized: entrepreneur, Technology · Tagged: entrepreneur, Technology

Apr 03 2023

Mobile Marketing Best Practices

 

Mobile marketing is rapidly becoming the most effective means of reaching your business’s target audience. With smartphones being used as the primary way to access the internet, there are numerous advantages to using mobile marketing effectively. However, if you want to reap the benefits of this type of marketing, you need to apply the correct strategy. In this article, you’ll discover 7 mobile marketing best practices you can implement into your marketing strategies.

The Benefits of Mobile Marketing

Mobile marketing is an umbrella term that describes the utilization of mobile devices to attract customers. There are many unique benefits to prioritizing mobile marketing. For one, mobile marketing makes it possible to reach your customers where they already are – on their phones. 97% of Americans own and regularly use a smartphone. And, 15% of that population only surfs the web via their mobile device.

For a long time, most marketing was centered around the philosophy that casting a wide net is guaranteed to “catch a few fish”. However, today’s advanced technology, as well as changes in culture, has opened new doors for unique marketing tactics that can be even more effective.

By prioritizing mobile marketing, you’re no longer relying on customers to find you. Instead, you’re bringing your brand to them. With people spending more time on their phones than ever before, it’s the perfect opportunity to start marketing where they’re already focused.

To get more specific, it’s important to understand the various ways you can realistically implement it and make the most of what mobile marketing has to offer. Here are some mobile marketing best practices that will help you get the most from your efforts.

 

1. Know Your Goal

Marketing goals go beyond just increasing sales. One of the major benefits of mobile marketing is that it has the potential to create personalized, meaningful customer experiences. There are many ways you can employ mobile marketing tactics to benefit your business, staff, clientele, and even your brand – don’t limit your vision to just improving sales.

It’s important to work toward an established goal when you’re implementing new marketing tactics. Developing a methodical, organized, and thoughtful approach to mobile marketing can prevent issues in the long run.

Some great examples of mobile marketing goals include:

  • Increase website traffic
  • Increase sales
  • Generate social media content/likes/views
  • Improve customer relations
  • Generate leads
  • Receive customer feedback

Before you proceed with a marketing campaign, choose a specific, measurable, and realistic goal you want to achieve. This can give you some direction when designing your content and can save you time later.

2. Design Your Campaign

The next step in the process is choosing the campaign you want to run with. There are many different ways to go about mobile marketing, and each tactic has its own unique benefits and drawbacks. It’s important to choose a campaign that is congruent with your previously established marketing goal.

Below, you’ll learn more about some highly effective campaign types.

Location-Based

With location-based mobile marketing, you’re keeping track in some way, shape, or form of a customer’s physical location to send them specific notifications or content. This method is most effective for local businesses looking to improve foot traffic. However, it can be used in other ways as well.

Some examples include:

  • Sending a customer a notification when they arrive at your store.
  • Offering a discount/coupon if a customer scans a product in person.
  • Showing promotions available at locations near the customer.

Activity-Based

Activity-based mobile marketing focuses on what the customer is doing and rewards it with engaging content that users are likely to respond to. Using mobile analytics, you can manually set up certain user behaviors that trigger a mobile marketing response. This grabs customers’ attention right away.

Some examples include:

  • Sending a notification when a customer reaches a milestone.
  • Notifying customers when new content is released.
  • Sending a message to thank a customer for subscribing/leaving a like.

The important thing to remember about activity-based campaigns is that the customer’s consent is critical. Always ask customers to opt in before starting this method. Otherwise, it can become intrusive or annoying and can damage your business’s reputation.

Triggered

Triggered mobile marketing involves the use of notifications and mobile content to inform customers of offers and features they weren’t previously aware of. As opposed to activity-based marketing, triggered mobile marketing redirects customer attention from one thing to another.

Some examples include:

  • Sending an email about extra features/promotions you’re offering.
  • Notifying a customer about an abandoned cart in your online store.
  • Inviting a customer to check out your business on another site/platform.

 

3. Target Locally

It can help to get as specific as possible when starting a mobile marketing campaign. One great way to narrow down your initial target audience, especially if you’re testing out new strategies, is to focus on local customers.

You can use location-based marketing techniques to send notifications to customers depending on where they physically are. For instance, when customers enter your store, you can send a pop-up notification letting them know about current promotions, new products, and more.

 

4. Make Sure Your Site is Mobile Friendly

When designing your mobile marketing campaign, you must focus on creating content that is mobile-friendly. Your business’s website needs to be visually appealing and easy to use on mobile platforms – otherwise, customers won’t stay long. 

Page speed is the amount of time it takes to load everything on a mobile site. It has also been shown to affect how people feel about a company. And it also has an impact on your website’s Google ranking, thus affecting visibility.

The fact is, more people surf the web via mobile every single day. You’re likely even reading this article on a smartphone right now! By optimizing your website on mobile, you’re inviting additional traffic – which can then become sales.

 

5. Create Visually Engaging Content

Another best practice is to make sure your content is visually engaging. Odds are, you’ve visited a website in the past and decided not to stay due to the way the content is visually organized. If your website is boring, overwhelming, or lacks personality, many people will lose interest. Conversely, visually engaging content will have the opposite effect. For example, if you have the option to write content on a page or shoot a promotional video, mobile visitors may prefer to watch the video. In fact, 84% of consumers agree that watching promotional videos have convinced them to purchase a product or service.

Part of creating mobile-friendly content involves using larger fonts, more concise headlines, and using highlighting to summarize content succinctly. However, it also includes appealing pictures and well-produced videos.

When people are on mobile devices, they tend to read and scroll quickly. So, in order to avoid being glossed over, try using bold, engaging titles and fonts. Then, pair those things with images and videos that captivate viewers’ attention.

 

6. Make it Clear and Concise

Keep your content focused and worded concisely. The average time most people spend on a single page of a business website across multiple industries, is about 54 seconds. That’s not a generous amount of time. But, that’s your window of opportunity to intrigue them enough to stay longer. If your content is overly wordy or filled with “fluff”, customers will pick up on it and see themselves out.

7. Leverage QR Codes

QR codes are a vastly underestimated means of mobile marketing that your business should take full advantage of. QR (short for quick-response) involves the use of an auto-generated label that is readable by smartphones. These labels link to external content. Customers scan QR codes and are guided to websites, apps, or social media platforms.

Take advantage of the accessibility of QR codes to generate website traffic. It’s free and simple to link any URL of your choice to a QR code using Google Chrome.

Try it Out

There are many different ways to practice effective mobile marketing, and it takes some experimentation to figure out what works best for you and your business. Through the use these mobile marketing best practices, you can make the most of your mobile campaigns and form better relationships with your customers.

Ari Bratsis

Team Writer: Ari is a writer, blogger and small business owner based in Washington state.

Article Tags:

featured · Find Your Way · Grow your business · marketing · Sales · Technology

Article Categories:

Find Your Way · Grow Your Business · Marketing · Technology · Your Mindset

Written by Ari Bratsis · Categorized: entrepreneur, startupmindset · Tagged: entrepreneur, startupmindset

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