Cyber-criminals hit the EU’s carbon emissions trading scheme

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Everyone knows that cyber-criminals are constantly targeting banks and other financial institutions but you don’t often get to read about how they’ve successfully siphoned off €45m worth of certificates. Even worse, spot trading of emissions permits has been halted as a result of the breach (although, as with most commodities markets, most carbon trading is done using derivatives, so the impact isn’t quite as bad as it sounds at first).

There have been persistent rumours that the London Stock Exchange was the target of a concerted attack last year but, as is so often the case with these sort of rumours, the LSE’s keeping quiet.

It’ll  be interesting to see if further details emerge about the Emissions Trading Scheme attack.

Written by jackgavigan

February 7, 2011 at 10:09 pm

Posted in InfoSecurity

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