Budget and Finance
Congressman Lieu at a recent Budget Committee Hearing
“In California—the eighth largest economy in the world—we put our fiscal house in order by investing in core priorities instead of giving tax breaks to the ultra-wealthy. I look forward to working with my colleagues on both sides of the aisle to set national budget policy that raises the wages of the middle class; protects Medicare and Social Security, and invests in infrastructure, education, and innovation.”
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Recently, hackers managed to drain bank accounts across Germany. They did so not by hacking the banks themselves, but by exploiting a long-known flaw in a global telephony protocol known as Signaling System 7. It’s the kind of attack that researchers have warned about for years—and may finally be the one the gets the telecom industry to clean up its giant SS7 mess.
There's a major vulnerability in the way phone networks talk to each other - and hackers have used it to drain victims' bank accounts.
What's more: The issue has been known about for years, and public demonstrations have highlighted the issue, but nothing had been done about it.
It was designed as a security measure to increase protection of internet users across the globe.
But hackers have used a well-known security vulnerability in worldwide mobile telecoms networks to steal access codes to online bank accounts.
The exploit could be used against any bank that uses two-step login verification, as well as high-profile websites like Facebook, Google and many others.
Hackers have exploited the Signaling System #7 international telecommunications signaling protocol as part of a two-stage attack designed to drain money from people's online bank accounts.
The attacks successfully targeted online bank account holders in Germany by using call-forwarding features built into the SS7 protocol, German daily newspaper Süddeutsche Zeitung reports.
Tax Refunds Have Hackers Working Hard For Your Money
Hackers have taken advantage of a known security vulnerability in mobile networks that allowed them to intercept two-factor authentication messages to hijack user login information and drain bank accounts.
We've known for years that a key protocol that allows global cellular networks to communicate with each other had vulnerabilities -- and nobody really took it that seriously.
Rep. Ted Lieu (D-Calif.) blasted President Trump’s proposed tax reform policy on Monday, calling it “voodoo economics on steroids" that's as credible as the existence of "magic, unicorns, or Batman."
The Trump administration prepared Wednesday to release a tax reform plan that calls for big corporate rate cuts and an increase in standard deductions, a pricey package that could face an uphill climb in Congress.
“This is going to be the biggest tax cut and the largest tax reform in the history of our country and we are committed to seeing this through," Treasury Secretary Steve Mnuchin said during a morning forum sponsored by The Hill.
FOR IMMEDIATE RELEASE
Washington – Today, Congressman Ted W. Lieu (D | Los Angeles County) issued the following statement regarding President Trump’s proposed tax plan.
“I can explain in one word why the Trump tax plan and Trumpcare are both disasters: math. No matter how hard the President and Republicans spin it, 2 + 2 will never equal 5.”
FOR IMMEDIATE RELEASE
REP. TED W. LIEU ON HBO’S REAL TIME WITH BILL MAHER
THIS FRIDAY, MARCH 24th 10PM ET | PT