Hackers Cry Wolf on May Day 2001
Common Criteria
London, UK - 26th April 2001, 0800 GMT - The arrival of hacktivism,
political activists who protest online, and the growth of the professional
protestor has increased the pressure on financial services groups to give
in to the demands of protestors.
On May Day 2001 the earlier protests in Seattle, Davos
and Quebec will arrive on the streets of London as The City braces itself
for a day of anarchy. Yet again the media is warning of the dangers of anti-capitalist
hackers targeting institutions and the ensuing mayhem as the financial infrastructure
comes under stress. However statistics over comparable protest periods in
June 1999 and May 2000 have shown that there has not been any significant
increase in deep intrusion activity.
Financial services groups should be more concerned about
the everyday hacker assault. The significant increase in the number of reported
attacks (intrusion, denial of service, virus attack) may be the tip of the
iceberg when unreported attacks are taken into account. This was highlighted
at the launch of the new National Hi-Tech Crime Unit (NHTCU), after their
officers tracked several hackers who had successfully made attacks on four
internet banks
The arrival of the "professional" criminal into this lucrative
area, the introduction of increasingly complex networks coupled with the economic
slowdown and disgruntled employees could prove to be a Molotov cocktail.
"Online Security is not just about
May Day but a 24 by 7, 365 days a year issue", said DK Matai,
Managing Director of mi2g software.
"Hacktivism is just one facet of internet crime."
The Achilles heel of a publicly listed company is its
share price. The damage that internet breaches can have on share price and
market capitalization can be heightened in volatile markets. Companies that
do not have a coherent online security policy based on technology, legal issues,
human resources and insurance are vulnerable.
Coincidentally, Chinese hackers have chosen to "bring
the Western Hemisphere to its knees" during the first week of May by declaring
cyber war on US interests in retaliation for the downing of one of their combat
aircraft last month and in celebration of two patriotic national holidays
in China including Qingnian Jie (Youth Day) on 4th May. This, in the past,
has included attacks on open and proprietary systems.
About mi2g:
mi2g software works with financial services groups,
both large and small, to change and eEnable their entire business. We automate
our clients' business in such a way that they and their customers can use
the World Wide Web both to increase their business volume and reduce their
overall cost base.
mi2g eBusiness Solutions Engineering pays particular
regard to security and advises on the management of eRisk, which incorporates
Bespoke Security Architecture. mi2g's clients are mainly from the banking,
insurance and reinsurance sectors.
What is Bespoke Security Architecture?
Most organisations believe that a firewall is enough to
secure their sites. Bespoke security architecture brings together firewall
layers, intrusion detection and other defensive structures, as well as automated
intelligence techniques with legal, human resource and insurance policies.
What is eRisk Management?
eRisk Management deals with a variety of issues. associated
with implementing an eBusiness. fully integrated with legacy IT systems. It
includes selecting the optimum. technology set, managing external partners
and. alliances, linking payments to targets, defining. rigorous quality control
procedures, managing. the growth in online traffic post launch, achieving.
the expected return on investment, and bringing. about the changes in the
corporate culture. required for successful and secure eBusiness.
First contact for additional information - Intelligence Unit, mi2g
Telephone: +44 (0) 20 7924 3010 - Facsimile: +44 (0)
20 7924 3310 - eMail: intelligence.unit@mi2g.com
