Free Newsletter
Register for our Free Newsletters
Newsletter
Zones
Access Control
LeftNav
Alarms
LeftNav
Biometrics
LeftNav
Detection
LeftNav
Deutsche Zone (German Zone)
LeftNav
Education, Training and Professional Services
LeftNav
Government Programmes
LeftNav
Guarding, Equipment and Enforcement
LeftNav
Industrial Computing Security
LeftNav
IT Security
LeftNav
Physical Security
LeftNav
Surveillance
LeftNav
View All
Other Carouselweb publications
Carousel Web
Defense File
New Materials
Pro Health Zone
Pro Manufacturing Zone
Pro Security Zone
Web Lec
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
ProSecurityZone Sponsor
 
 
News

Infrastructure Fragility Demonstrated With Market Suspension Due To Hacking

Lumension Security : 22 January, 2011  (Technical Article)
Motivations of hackers irrelevant in suspension of EU carbon market trading with disruption being the most significant threat to business continuity
Trading on the European carbon market is suspended until at least next Wednesday because of recent security breaches that need to be addressed, the European Commission. Credits stolen from the Czech Republic were worth €7 million ($9.43 billion).



Alan Bentley, SVP International at Lumension, commented: “The consequential impact of cyber crime has been significantly elevated once again. Whilst the theft of a reported €7 million credits is worrying, it is the fact that a trading market has been paralysed that is the most cause for concern. This hack attack has disrupted a European infrastructure.



“If the registry has been polluted by hackers, the market is in trouble. The registry holds allocations for each EU country, meaning that if the integrity of that data has been compromised, it will be difficult to switch the market back on.



“The motives of the hackers, whether financial or political are not the issue here. The reality that trading functions can be brought to a halt is deeply disturbing.  There is an obvious need for organisations that support critical infrastructure, to use more intelligent security defences. Markets have contended with balancing their agility whilst incorporating bleeding edge technology that errs of the side of caution.”
Bookmark and Share
 
Home I Editor's Blog I News by Zone I News by Date I News by Category I Special Reports I Directory I Events I Advertise I Submit Your News I About Us I Guides
 
   © 2012 ProSecurityZone.com
Netgains Logo