Indeed, our modern western financial and banking system with its massive dependency on single interface websites, servers and the internet faces serious risks that few analysts have yet to appreciate and evaluate.We previously referred to Russian Prime Minister Medvedev’s allusion to cyber warfare when he stated the Russia’s response to U.S. attempts to have it locked out of the SWIFT system that the Russian response “economically and otherwise – will know no limits.”
Dormant malware, apparently of Russian origin had previously been discovered buried in the software that runs the Nasdaq stock exchange according to Bloomberg.
Given that a military confrontation is not desired by Russia it is likely that cyber-warfare will be part of Russian arsenal in any confrontation with the U.S. and NATO countries. Continue reading
SPY agencies in Germany, France, Spain and Sweden are carrying out mass surveillance of online and phone traffic in collaboration with Britain, according to documents leaked by Edward Snowden.
The Guardian newspaper reports Britain’s GCHQ electronic eavesdropping centre – which has a close relationship with the United States’ National Security Agency (NSA) – has taken a leading role in helping the other countries work around laws intended to limit spying.
The report is likely to prove embarrassing for governments including those of Germany and Spain, which had denounced earlier reports that the NSA was electronically spying on their citizens. Continue reading