Black Hat Brings Together Cybersecurity Experts in Riyadh

Chairman of General Authority for Entertainment Turki Al Al-Sheikh
Chairman of General Authority for Entertainment Turki Al Al-Sheikh
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Black Hat Brings Together Cybersecurity Experts in Riyadh

Chairman of General Authority for Entertainment Turki Al Al-Sheikh
Chairman of General Authority for Entertainment Turki Al Al-Sheikh

A flock of experts, speakers, and ethical hackers have gathered in Saudi Arabia to partake in Black Hat, a cybersecurity event organized to provide a platform of communication for people interested in cybersecurity and expertise exchange in this field.

Black Hat has been organized this year following the success achieved by the “@Hack”, a similar event that was held last year, and lured many peeps from the cybersecurity sector. Black Hat has brought together over 200 international speakers, and more than 250 pioneering cybersecurity firms, including Cisco, IBM, Spire, and Infoblox, in addition to over 40 startups.

The event is organized by the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP) and Informa Tech, in partnership with the General Entertainment Authority (GEA). Black Hat contributes to accomplishing the kingdom’s goal to empower its citizens, enhance their skills in the field of cybersecurity and programming, and growing its national cadres in the modern technology sector.

“The passion and ambition I saw in the Saudi government and people in this vital sector promise a great future for this industry in Saudi Arabia. Organizing Black Hat in the kingdom comes as a response to the remarkable enthusiasm we noticed among the Saudi youth in this field. Last year, ‘@Hack’ welcomed a record number of visitors that we haven’t seen in any event in the US in the past 20 years. We expect last year’s record to be broken this year,” Mike Champion, regional executive vice president of Informa Markets, told Asharq Al-Awsat.

Champion hailed Saudi Arabia’s plan to empower one programmer in every 100 Saudi citizens, noting that it’s an ambitious plan that will contribute to creating an amazing future for the sector. “We will try to support this plan through such events, which bring the best programmers, hackers, and experts from the cybersecurity world to meet Saudis interested in learning more about this industry,” he explained.

The event includes six main zones hosting an executive summit dedicated to the region's elite cybersecurity chiefs to discuss the latest developments in the field, and exchange expertise; technical workshops; a business lounge that hosts large corporates and startups from Saudi Arabia and the world; the Arsenal zone for developers where the latest developments are presented; and training courses that are offered by 50 professional trainers.

Black Hat also includes the ‘Capture the Flag’ competition that features several challenges including websites’ bugs exploitation, digital forensic analysis, reverse engineering, and coding. More than 1,000 contestants, and 200 teams from 35 counties compete for a prize of SAR700,000 over three days.

Other competitions include the Bug Bounty Cup, which urges participants to hunt and explore bugs in real security companies for cash prizes of SAR300,000. Black Hat also introduces the Cyber Village, which brings together 6 different challenges, namely the Vehicle Penetration Challenge, which aims to educate security researchers about the functions of vehicle systems as well as providing them with practical experience; the Unlock Challenge, a physical security experience where visitors can identify weaknesses in different locks; and the Escape the Room challenge that requires the team's collaboration as contestants solve a series of puzzles within a limited time frame.

The Smart City Challenge simulates various sectors of infrastructure where security researchers can exploit security gaps in infrastructure installations; the Drones Breakthrough Challenge, a competition between two teams, in which the first team seeks to deliver the largest number of shipments by drone while the other team seeks to carry out various cyber-attacks on drones of the first team; and finally, the Electronic Chips Hacking challenge that gives visitors the opportunity to learn how to hack mobile devices and the Internet of Things, and control access to stored data.

The Cyber Seed competition comes within the Business Hall zone, where participating startups present their business ideas to tech experts and investors to win over SAR90,000.

Black Hat is a global cybersecurity event launched in 1997, and one of the world's most important events for the information security sector and a destination to those interested. It started as an annual event in Las Vegas before moving to many countries around the world. The event comes to the region for the first time this year, in Riyadh, to showcase the technology's latest updates in addressing challenges and enhancing cyber skills.



US Supreme Court Tosses Case Involving Securities Fraud Suit against Facebook

A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
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US Supreme Court Tosses Case Involving Securities Fraud Suit against Facebook

A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)
A 3D-printed Facebook logo is seen in front of a displayed stock graph. (Reuters)

The US Supreme Court sidestepped on Friday a decision on whether to allow shareholders to proceed with a securities fraud lawsuit accusing Meta's Facebook of misleading investors about the misuse of the social media platform's user data.
The justices, who heard arguments in the case on Nov. 6, dismissed Facebook's appeal of a lower court's ruling that had allowed a 2018 class action led by Amalgamated Bank to proceed. The Supreme Court opted not resolve the underlying legal dispute, determining that the case should not have been taken up. Its action leaves the lower court's decision in place, Reuters reported. 
The court's dismissal came in a one-line order that provided no explanation. The Facebook dispute was one of two cases to come before the Supreme Court this month involving the right of private litigants to hold companies to account for alleged securities fraud. The other one, involving the artificial intelligence chipmaker Nvidia, was argued on Nov. 13. The Supreme Court has not ruled yet in the Nvidia case.
The plaintiffs in the Facebook case claimed the company unlawfully withheld information from investors about a 2015 data breach involving British political consulting firm Cambridge Analytica that affected more than 30 million Facebook users. They accused Facebook of misleading investors in violation of the Securities Exchange Act, a 1934 federal law that requires publicly traded companies to disclose their business risks. Facebook's stock fell following 2018 media reports that Cambridge Analytica had used improperly harvested Facebook user data in connection with Donald Trump's successful US presidential campaign in 2016. The investors have sought unspecified monetary damages in part to recoup the lost value of the Facebook stock they held.
At issue was whether Facebook broke the law when it failed to detail the prior data breach in subsequent business-risk disclosures, and instead portrayed the risk of such incidents as purely hypothetical.
Facebook argued that it was not required to reveal that its warned-of risk had already materialized because "a reasonable investor" would understand risk disclosures to be forward-looking statements. President Joe Biden's administration supported the shareholders in the case.
US District Judge Edward Davila dismissed the lawsuit but the San Francisco-based 9th US Circuit Court of Appeals revived it.
The Cambridge Analytica data breach prompted US government investigations into Facebook's privacy practices, various lawsuits and a US congressional hearing. The US Securities and Exchange Commission in 2019 brought an enforcement action against Facebook over the matter, which the company settled for $100 million. Facebook paid a separate $5 billion penalty to the US Federal Trade Commission over the issue.
The Supreme Court in prior rulings has limited the authority of the Securities and Exchange Commission, the federal agency that polices securities fraud.