Tag Archives: White House

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Still, the plan leaves several practical questions unanswered:

* Should a business be required to tell the government if it’s been hacked and U.S. interests are at stake?

* Can a person sue her bank or water treatment facility if those companies don’t take reasonable steps to protect her?

* If a private company’s systems are breached, should the government swoop in to stop the attacks – and pick up the tab?

Read more: http://techland.time.com/2013/02/13/state-of-the-union-obamas-cybersecurity-plan/#ixzz2KmpvhpVO

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Filed under International Econnomic Politics, Laws and Regulations, National Economic Politics, Technology

NASDAQ Comments On Hackers, Lack of Information

We wasn’t supposed to know about the penetration of NASDAQ‘s computer systems until the US government had finished their investigation – next week at the earliest, that is. But since the story popped in The Wall Street Journal, Saturday, the NASDAQ management could no longer keep quiet. After a consultation with the US Department of Justice, they have issued the following statement.

“Through our normal security monitoring systems we detected suspicious files on the US servers unrelated to our trading systems and determined that our web facing application Directors Desk was potentially affected.”

Adena Friedman/Vince Palmiere

Security is not what it used to be.

“Many of you may have read an article published in today’s Wall Street Journal which reports that computer hackers have penetrated our network. Below are facts behind the story,” the US stock exchange writes in a note to its clients.

“Through our normal security monitoring systems we detected suspicious files on the US servers unrelated to our trading systems and determined that our web facing application Directors Desk was potentially affected. We immediately conducted an investigation, which included outside forensic firms and US federal law enforcement. The files were immediately removed and at this point there is no evidence that any Directors Desk customer information was accessed or acquired by hackers. Our trading platform architecture operates independently from our web-facing services like Directors Desk and at no point was any of NASDAQ OMX’s operated or serviced trading platforms compromised.”


“Subsequently, the US Department of Justice requested that we refrain from providing notice to our customers until, at the earliest, February 14, 2011, in order to facilitate the continuing investigation. NASDAQ OMX was honoring the US Government’s request to delay notification, but when a story ran in the media on Saturday, February, 5, 2011, regarding a hacking incident at NASDAQ OMX, we immediately decided, in consultation with the authorities, that we must inform our constituents.”


“We continue to evaluate and enhance our advanced security controls to respond to the ever increasing global cyber threat and continue to devote extensive resources to further secure our systems. Cyber attacks against corporations and government occur constantly. NASDAQ OMX remains vigilant against such attacks. We have been working in cooperation with the Government’s ongoing investigations and have received their technical advice for which we are appreciative.”

As always, please don’t hesitate to contact us if needed.

Adena Friedman
Executive Vice President, Corporate Strategy and Chief Financial Officer

Vince Palmiere
Vice President, Investor Relations

Okay, but this rise a couple of another interesting questions:

Like: On which NASDAQ-unrelated US servers were the suspicious files detected?

And if I should give any advise to the NASDAQ people it would be to get a second opinion on the security issues, besides what they get from the US authorities.

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(h/t: Zero Hedge)

Related by the Econotwist’s:

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Filed under International Econnomic Politics, Laws and Regulations, National Economic Politics, Technology

Okay, Let’s Try This One More Time

Well, here we go again… The hardheaded site managers at WordPress keep on deleting my blogs because of some diffuse “violation of terms.”  I suppose it has something to do with the advertizing at the sites. But that’s okay. They’re just trying to do their job- So, I won’t waste any time arguing about it – let’s just get back to work.

“You have many links on your site and in your posts to an affiliate-based network (avafx.com). These links are not permitted on WordPress.com.”

WordPress.com


Yes, I confess: I have broken the Holy Laws of WordPress.com. But as you see, I’m back up – more rebellious than ever! And for the advertizing; I will put them somewhere else, and provide you with a link. By the way – welcome to the new site of the Econotwist’s !

All the usual stuff, the articles, the photo comments and the collection of financial music videos is here. I’ll just have to organize it a little better.

Some new features are underway, and I will introduce them in a timely manner.

Today I’m launching a series of articles/commentaries, originally published in the period between October 2008 and December 2009.

I have realized that these articles are just as relevant now – perhaps even more – as they where when I wrote them.

However, they’re only available in Norwegian at the moment, so they have to be translated.

The series will be call “T&R” – Translated & Reposted.

Here are a few highlights:

“Thou, Bank Almighty!”

An analysis of the overall trends in the financial industry.

“In For Landing”

The article The White House didn’t want you to read – in fact, it’s the first and only time I’ve been censored!  (It’s about FED chairman Ben Bernanke)

The Green Capitalism

Is it really possible to make a capitalistic system work to the benefit of the environment? A mind game.


In addition, I’ll pick up the trace of a big unsolved mystery, and provide details on some shady banking activity in the Baltic region.

The first article in the T&R series will be available in English later today.

Stay tuned, my friends!

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