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Why Apple Is Right to Challenge F.B.I.

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Apple

It is understandable that federal investigators want to unlock an iPhone used by one of the attackers who killed 14 people in San Bernardino, Calif., in December. And it’s understandable that the government would turn toApple for help. But Apple is doing the right thing in challenging the federal court ruling requiring that it comply.

In an order issued on Tuesday, Magistrate Judge Sheri Pym says Apple must create new software that would bypass security features on the iPhone used by the terrorist, Syed Rizwan Farook. That would allow theFederal Bureau of Investigation to unlock the device and retrieve the pictures, messages and other data on it. Her ruling was based on the All Writs Act of 1789, which is used to require people or businesses not involved in a case to execute court orders. Another federal magistrate judge in New York is considering a similar request to unlock an iPhone in a narcotics case.

Law enforcement agencies have a legitimate need for evidence, which is all the more pressing in terrorism cases. But the Constitution and the nation’s laws limit how investigators and prosecutors can collect evidence. In a 1977 case involving the New York Telephone Company, the Supreme Court said the government could not compel a third party that is not involved in a crime to assist law enforcement if doing so would place “unreasonable burdens” on it. Judge Pym’s order requiring Apple to create software to subvert the security features of an iPhone places just such a burden on the company.

Apple has already given the F.B.I. data from the phone that was backed up and stored on its iCloud service; the last backup was made about a month before the attacks. But the company’s chief executive, Timothy Cook, has said that requiring it to create software to bypass a feature that causes the phone to erase its data if 10 incorrect passwords are entered would set a dangerous precedent and could undermine the security of its devices. The Department of Justice has argued that the software would be used on that phone only and notes that Apple has previously helped law enforcement unlock phones. The company changed how it encrypts phones after the surveillance revelations by Edward Snowden.

But writing new code would have an effect beyond unlocking one phone. If Apple is required to help the F.B.I. in this case, courts could require it to use this software in future investigations or order it to create new software to fit new needs. It is also theoretically possible that hackers could steal the software from the company’s servers.-

There are certainly other ways for law enforcement agencies to collect evidence. They already have the power to get data stored on online services like iCloud and Google’s Gmail through search warrants. And they can get records of phone calls and text messages from companies like Verizon and AT&T. A recent study published by Harvard’s Berkman Center for Internet and Society concluded that the proliferation of Internet-connected sensors, cameras and other devices provides the government ever-expanding opportunities to collect information about people.

Even if the government prevails in forcing Apple to help, that will hardly be the end of the story. Experts widely believe that technology companies will eventually build devices that cannot be unlocked by company engineers and programmers without the permission of users. Newer smartphones already have much stronger security features than the iPhone 5c Mr. Farook used.

Some officials have proposed that phone and computer makers be required to maintain access or a “back door” to encrypted data on electronic devices. In October, the Obama administration said it would not seek such legislation, but the next president could have a different position.

Congress would do great harm by requiring such back doors. Criminals and domestic and foreign intelligence agencies could exploit such features to conduct mass surveillance and steal national and trade secrets. There’s a very good chance that such a law, intended to ease the job of law enforcement, would make private citizens, businesses and the government itself far less secure.

The New York Times

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood

Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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Karl O Toriola - Investorsking.com

The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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