Microsoft finally unveils its new browser called Edge

At last the long wait is over, Microsoft finally reveals its official name for its new web browser plans last January, dubbed as Microsoft Edge, which is previously code-named Project Spartan.

Microsoft made the announcement at the annual Build Developer Conference 2015. Edge will replace Internet Explorer as the default browser of Windows 10 PCs, smartphones and tablets. It's not surprising that the nickname "Edge" is based on the new rendering engine that Microsoft is using for its Windows 10 browser which is called EdgeHTML.

Joe Belfiore, the Corporate Vice President, Operating Systems Group at Microsoft also said that the name was referred to the idea of Microsoft being on the edge of consuming and creating.

Microsoft Edge is designed to be a lightweight web browser with a layout engine built around web standards that is created for interoperability with the contemporary web.

The browser's new logo appears to be similar to the Internet Explorer's logo. However, the directions of the swirls have been changed and the color is a bit darker.

Microsoft Edge consists of unique features such as the ability to annotate on web pages, modern and futuristic design for new tabs which appear to have a flat design concept, jotting down notes or draw on top of web pages for a great way of reading and consuming content, favorites folder built into the browser, thumbnails of frequently visited websites, web applications and further integration with digital assistant Cortana to offer more personalized results and actions.

Developers will be able to carry their Chrome extensions or Firefox add-ons with just a couple of changes to Microsoft Edge.

Microsoft Edge also enables users to engage with sites and provide them a chance at starting to write some web code, which they may put into an application through web extensions built into the web browser.

Stay tuned on The Corliss Tech Review Group blog for more updates.

European Union accuses Google of market abuse

European Union has formally charged Google of abusing its dominant position on the internet search market.

According to a Corliss Tech Review Group report, Google has used its gigantic power as a search engine to redirect internet users from rivals to its own services, which include YouTube and its own social network Google+.

Expedia, Microsoft, and TripAdvisor, which are Google’s competitors, declare that its way of promoting its own companies above rivals on its search engine stops them from contending on a level playing field.

Insiders claim the case could prove just as costly as the EU's decade-long battle with Microsoft, which ultimately cost the company £1.6 billion in fines.

If Google fails to rebut any formal charges imposed by Brussels, the commission could impose a huge fine which could exceed £4 billion which is about 10% of Google's most recent annual revenue.

More than twenty four European organizations have filed antitrust complaints against Google. Many are from powerful publishing groups and online firms in Germany.

They have previously requested to force Google to stop blocking competition in sections like online maps, travel and shopping services.

Moreover, lawyers from France also requested for Google to reveal its secret formula for ranking websites but Google argues such transparency would expose its business secrets to rivals and leave the search engine vulnerable to spam.

In accusing Google of anti-competitive practices against rival shopping sites, the EU competition authority said it is continuing to investigate other areas, including alleged "web scraping" to copy content off of rival travel and local business review sites, and Google's restrictive practices on advertising.

Android Investigation

EU will be likely to probe Google’s operating mobile operating system Android.

The investigation will center on whether Google has entered into anti-competitive agreements or abused a possible dominant position in the field of operating systems, applications and services for smart mobile devices.

Google has given 10 weeks to reply and they will also get the chance to argue their case in a formal hearing.  But if it finds the company in the wrong then it would face the legal consequences and must change the way it does business in Europe.

The competition commissioner also claims that Smartphones, tablets and similar devices play an increasing role in many people's daily lives, and she wants to make sure the markets in the area can flourish without anti-competitive restrictions inflicted by some company.

The Corliss Group Tech Review: Bank hackers steal millions worldwide

The banking sector has been a frequent target for hackers nowadays. As much as US$1 billion were stolen from banks and other financial companies worldwide in about two years, wherein it is considered as one of the biggest banking breaches known, by a multinational gang of cybercriminals dubbed as the "Carbanak gang" originating from Russia, Ukraine, and other parts of Europe as well as from China.

The gang targeted banks, electronic payment systems, and other financial institutions worldwide with the majority of the targets in Russia, USA, Germany, China and Ukraine. They already infiltrated more than 100 banks in 30 countries, stealing as much as $10 million in each raid.

Kaspersky Lab and authorities from different countries had combine efforts to uncover how the criminals act. On average, each bank cyber robbery took between two and four months from infecting the first computer at the bank's corporate network to cashing the money out.

The cybercriminals used Carbanak malware to infect the bank's network giving them access to the employees' computers, and letting them see and record everything that happened on the screens of staff who service the cash transfer systems. This way the fraudsters got to know every last detail of the bankers work that show them how to mimic the staff to transfer the money and cash out.

Once the time came to exploit on their activities, the fraudsters used online banking or international e-payment systems to transfer money to their accounts.  In the second case, the stolen money was transferred to banks in China and the US.

In other cases, cybercriminals penetrated right into the very center of the accounting systems, inflating account balances before getting the extra money through a counterfeit transaction. For instance, the account has $1,000 and the criminals can change its value to $10,000 and then transfer $9,000 to themselves. The account holder doesn't suspect a problem because the original $1,000 dollars is still there.

In addition, the cybercriminals can also take control of banks' ATMs and order them to dispense cash at a specific time. When the payment was due, one of the gang's underlings was waiting next to the machine to collect the 'voluntary' payment.

Kaspersky did not identify the banks affected by the attacks because of a confidentiality agreement. They are still working with law-enforcement organizations to investigate the attacks.

Research says that the first malicious samples were compiled in August 2013 when the cybercriminals began to test the Carbanak malware and the first infections were detected in December 2013. The gang was believed to successfully steal from their first victims during the period of February to April 2014. The peak of infections was recorded in June 2014.

However the campaign is still currently active. Kaspersky urge all financial organizations to carefully scan the network for presence of Carbanak malware and if detected, report the intrusion to law enforcement.