Global cyber attack risk

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sen-no-sen
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Global cyber attack risk




by sen-no-sen » 20/08/21, 19:39

Cyber ​​attack: one of the biggest risks for the global economy?

The president of the US Central Bank has ruled in an interview that a cyberattack is one of the greatest risks to global finance.
Should we fear that hackers destabilize the planet's economy? The president of the US Central Bank is more worried about the risk of a large-scale cyberattack than of a global financial crisis similar to that of 2008. The risks of a crisis resembling that of 2008 with a need for a bailout of the banks by governments "are very, very weak", said Jerome Powell, during the 60 minutes program on the American channel CBS news.

" The world changes. The world evolves. And the risks too. And I would say the risk we watch the most is cyber risk, ”he said, adding that this is a concern shared by many governments, large private companies, especially financial ones. It is also against this risk that all these players invest the most.

Jerome Powell pointed out that the Federal Reserve (Fed) is looking at different types of scenarios. “There are scenarios in which […] the payments system cannot function. Payments cannot be made. There are scenarios where a large financial institution would lose the ability to track the payments it makes and things like that, ”he detailed.

The Fed is also considering the possibility that part or even a large part of the financial system could shut down. "We therefore spend a lot of time, energy and money to guard against that," said the boss of the powerful institution, recalling that cyber attacks target large institutions "every day".


https://www.lepoint.fr/economie/cyberattaque-l-un-des-plus-grands-risques-pour-l-economie-mondiale-12-04-2021-2421708_28.php

After the health crisis, the digital crisis?
Nothing could be more logical when you look at it closely.
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Re: Risk of global cyber attack




by GuyGadeboisTheBack » 20/08/21, 20:06

Can't wait for it to happen! : Cheesy:
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Re: Risk of global cyber attack




by sen-no-sen » 20/08/21, 20:52

If need be, it is not only an Internet cut that will be discussed, but rather a "big blackout", since our societies have strived to create a world increasingly dependent on digital technologies (and the 5 g and other connected toys won't help!).
It could therefore happen things as unfriendly as power failures, gas supply (1), water, or serious logistical dysfunction (food supply etc ...).



(1) A scenario worthy of the 24 hours chrono series:
United States: Cyber ​​attack raises fears of gasoline shortage on the East Coast
The attack, the most serious known to date targeting infrastructure on American soil, has targeted the largest gasoline pipeline in the country since Friday.

https://www.lefigaro.fr/economie/une-cyberattaque-provoque-la-fermeture-du-plus-grand-oleoduc-d-essence-aux-etats-unis-20210510
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Re: Risk of global cyber attack




by Christophe » 20/08/21, 20:53

GuyGadeboisLeRetour wrote:Can't wait for it to happen! : Cheesy:


Are you going to miss Izy and ABC too much? : Cheesy:
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Re: Risk of global cyber attack




by GuyGadeboisTheBack » 20/08/21, 20:54

The most "backward" countries will do better than us. The last will be first. : Wink:
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Re: Risk of global cyber attack




by Ahmed » 20/08/21, 21:38

The consequences of a digital breakdown would not only be directly functional: by destroying the monetary circulation, they would undermine the basis of all exchanges and therefore their stoppage ... In a social synthesis based on this kind of process, it would be fatal.

By definition, Guy, in countries already collapsed or partially (in progress!), it would be much less serious! : Mrgreen:
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Re: Risk of global cyber attack




by GuyGadeboisTheBack » 20/08/21, 22:07

Ahmed wrote:By definition, Guy, in countries already collapsed or partially (in progress!), it would be much less serious! : Mrgreen:

Or largely spared by progress, like Ladakh or Sikkim (Two examples that spontaneously come to mind).
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Re: Risk of global cyber attack




by sen-no-sen » 21/08/21, 20:32

United States: over 1 companies threatened by giant cyberattack
Hackers attacked US company Kaseya on Saturday to demand ransom from potentially more than 1 businesses, already shutting down 000 stores in Sweden. Russia, suspected of covering up or even being associated with their activities, denies any involvement.

It is difficult to estimate the scale of this giant cyberattack which is already affecting several continents. Hackers attacked US company Kaseya on Saturday July 3, just before US National Day, to demand ransom from potentially more than 1 companies.

First direct consequence: the attack has already caused the closure of 800 stores in Sweden. The attack has indeed paralyzed the checkouts of Coop Sweden, one of the largest supermarket chains in the country, which had to suspend its activity on Saturday, its checkouts being paralyzed by the attack.

Hackers used ransomware, also known as "ransomware," a type of computer program that exploits a company's security holes to cripple its computer systems and then demand a ransom to unlock them.


https://www.france24.com/fr/am%C3%A9riques/20210704-%C3%A9tats-unis-plus-de-1-000-entreprises-menac%C3%A9es-par-une-cyberattaque-g%C3%A9ante
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Re: Risk of global cyber attack




by Obamot » 21/08/21, 20:40

It would also prepare in parallel (note the conditional) of possible deliberately orchestrated shortages!

- shortage of raw materials (although this is bizarre and should be the reverse according to the law of “supply VS demand” since the economy is slowing down, there should be stock;

https://www.rts.ch/info/economie/123471 ... isses.html

Food shortages (although the year was excellent from a yield point of view, no drought)

https://www.lefigaro.fr/conjoncture/pen ... u-20210819

https://www.france24.com/fr/plan%C3%A8t ... an%C3%A8te

Shortage of pasta?
https://www.lepoint.fr/environnement/bl ... 8_1927.php

But there would be a “stunt” in the air, via the deliberate destruction of stocks, to drive up prices! (To be checked)


The health pass would also have the effect of further impoverishing people in precarious situations. Do not forget that illegal immigrants cannot be vaccinated (since they are undocumented) and cannot travel by train over long distances, due to the lack of a health pass.
Last edited by Obamot the 21 / 08 / 21, 21: 07, 1 edited once.
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Re: Risk of global cyber attack




by sen-no-sen » 21/08/21, 21:01

The problem is that the ideology currently in force is based on the politics of tense flow and this in order to maximize profitability. The "stocks" correspond in reality to the sums of mobile operators in circulation (mainly trucks) which favors the rise in prices. There appears a total lack of resilience of the system in the event of unforeseen events. inflation in many countries around the world.
This policy of meticulous logistics unfortunately only works in the absence of "jolts", one can therefore ask the question of what could well happen in the event of a global cyber-attack, all within the framework of a "convergence" crises".
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