In a remarkable analysis of the American Clearinghouse Depository Trust & Clearing Corporation (has DTCC ) named the threat scenarios for the global financial system.Thus, it is not the global debt crisis, China and the euro crisis threatening the world order most.
The danger, the DTCC, comes from hackers.
Islamist hackers.
This must be addressed in time to prevent the crash - best yet, before they attack.Mark Clancy by DTCC told Financial News : "We must ensure the cyber security as a team. The aim must be to reduce the cost of defense and those to increase for the attack. "
Banks are against attacks by hackers apparently insufficiently protected, writes the DTCC. However, the blame for the lack of defensive ability is not the banks but the criminal energy of the attacker.
These enemies of the financial industry would have it easy because they are not subject to the jurisdiction of civilized states. They operate outside of the U.S. and Europe, which is why the efforts of the U.S. administration and the European Commission are not sufficient to repel an attack.
The financial services industry expects the attack by those who since the 11thSeptember 2001 were identified as the real enemies of the Americans: From Islamists.
The Security Analysts of Analysis Intelligence have found in a study that the massive computer glitches caused the fall of 2012 not from crazed traders or runaway robots, but by a group called Izz al-Din al-Qassam Cyber Fighters. This would set targeted DDoS attacks the giants of the industry such as Bank of America, Wells Fargo, HSBC, JPMorgan Chase, PNC and other incapacitated.
Iran is behind the attacks and fighters from the Palestinian territories are. As evidence, the report argues that Reuters and the Washington Post have already identified a few days after the first attacks Iran with reference to anonymous sources. The financial industry is confirmed by the fact that the Iranian television did not report the attack to the suspicion against Iran.
In the analysis of the DTCC nations, individuals, and paid hackers are identified as the copyright of possible attacks. Because they operate outside of U.S. jurisdiction, it was hard to get hold of her to pursue and punish them.
The security experts of Intelligence Analysis have identified the hacker attacks against U.S. banks in 2012. (Graphic: Intelligence Analysis)
It is therefore all the more important time to get accurate information about the hacker. To this end, cooperation between the U.S. Treasury, the Department of Homeland Security and the financial industry must be intensified. The objective is the exchange of information and data on a wide scale. Since 1999, the Financial Services Information Sharing and Analysis Center (FS-ISAC).
Against this center are just some loans in Germany under criticism NSA should be a welfare organization.
Because this is not about the email from the comparatively insignificant politicians from the Belgian province or Uckermark.
This is about the core of the international financial oligarchy: the exceedingly networked banking system.
And this is vulnerable to threats from the outside and from the inside.
Because the DTCC, a service company in the banks, makes no secret of it in his recent report that the risks exposed by itself the system are no longer manageable basically.
The paper examines namely addition to cyber-terrorist and those risks inherent in the basically entirely moral banking system: The greatest danger, the DTCC, the dynamics and complexity of the financial system.
Thus, even well-intentioned attempts to regulate the system, have the opposite effect. The regulations are so complex that no one could implement them more effectively. Therefore, the regulations would lead to new errors.
Because the system is networked so that no one can recognize more cause and effect, could bring the whole system to crash an attack on a component - and in a very short time and without any preparation. In a video that explains a DTCC man that the system was honestly surprised by the Lehman crash.
The euro-crisis is as a systemic risk, as well as the immense amount of scrap papers and the high-speed trading.
From the paper speaks a mixture of perplexity and whistling in the dark: How the chapter on HFT is overwritten with a quote from Mahatma Gandhi: "There is more to life than speeding."
Interestingly, cited DTCC an investigation in the spring of 2013: According to the industry is not afraid of the hackers most, but the fact that one of the too-big-to-fail banks could break all the others in the abyss: fear 61 percent of the bankers the crash of a giant, 35 percent of respondents said that the risk has become greater in the past six months.
Therefore, it is remarkable that now represent a respected clearinghouse of the hackers from the Far East at one time the greatest danger.
The findings of the DTCC were obtained naturally in close coordination to U.S. authorities. One can therefore assume that the U.S. intelligence agencies want to know the cyber hackers as the greatest threat to the financial system named.
This concern may have nurtured the mysterious warning the Obama administration of a terror attack in recent weeks. Never have allowed such a state of vigilance by U.S. authorities stack. It is very unlikely that a bomb threat has caused such a request to the U.S. citizens to be vigilant in Yemen. In the warnings of Americans cyber attacks were not mentioned explicitly, the Americans reminded the world that railways, airport and boats are endangered.
The non-mention of the banks may suggest that these were meant exactly - and you do not even have to follow the crude logic that political power is especially dangerous if their state does not report on long standing somewhat.
In fact, a by whomever triggered hacker attack on one of the big banks would havedevastating consequences: In fact, a most social processes come to a halt because all the important processes would come to a standstill or out of control either by the dominance of the Internet in banking transactions.
Such a crash would amount to a reset of the financial system the same. It will be really hard to identify the perpetrators of such crashes doubt.
Behind a group called Izz al-Din al-Qassam Cyber Fighters can basically put everyone - and no one.
The Americans put everything in any case, to document extreme determination in advance of such an event. In a sensational article, Michael Lewis has the arrest and conviction of former CIOs by Goldman Sachs described in the current Vanity Fair as a pretty obscure number: Originally from Russia Sergey Aleynikov was arrested from the airplane out, interrogated without a warrant, and finally of unsuspecting jury convicted in a flash method to eight years in prison. He had, as Goldman says, stolen computer code that Goldman allegedly heard and are designed to supply a competitor with business secrets. Lewis proves that the code was not significant, there was a good part of open source and had not been used by Aleinikov following his departure from Goldman.
The incident shows that the next battleground will be no skyscrapers and no Afghan cave.
It comes to the computer, which made the whole complexity of the financial system only.
But who is friend or foe in this system can hardly notice.
The boundaries between right and wrong are blurred in the flurry of incomprehensible algorithms.
The new battle space is the gray area.
It is an asymmetrical war in which we live, writes the DTCC.
It is difficult to defend in a war where everyone can be everything and escape into the many identities is possible in a split second.
DTCC is reminiscent of the hurricane Sandy from the year 2012 who has "brought painful memories, how devastating destroying potential unexpected physical events" could have. The finance company has therefore taken measures to strengthen the "resistance to a broad number of events."
Such measures may actually be dead right in the age of Anonymous and Libor.
For the banks.
For governments.
But especially for those who might not necessarily that of the virtual Salvation Army consider the global financial system, but follow the old axiom: By their fruits ye shall know them.
Not their words.
Ubersetzer
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