Feeds

Hedgers or terrorists behind pre-attack stock selling?

James Bond scenario or business as usual

  • alert
  • submit to reddit

Internet Security Threat Report 2014

In what sounds like a plot from the latest James Bond movie, financial authorities around the world are investigating stock exchange data for strange share price movements in the days and hours previous to the suicide attacks on the World Trade Center in New York.

The suspicion is that whoever was responsible for the attacks - most likely Saudi terrorist Osama bin Laden - tried to profit from them by short selling stocks. This basically means selling loads of shares before the attacks and then buying them back once the share price had slumped. The most obvious shares for this would be airlines stocks, those companies based in the World Trade Center and insurance companies - and these are where investigations are likely to begin.

However, a likely explanation for the volatile stock movements is that some European insurance companies had just released their results, which investors would have reacted to.

Germany's stock exchange watchdog (BaWe) had already warned the US Securities and Exchange Commission of some funny goings-on days before the attack. Now the UK's FSA is to launch an investigation into London stocks.

Even if recovered data does point to peculiarly prescient stock selling, proving a link to the terrorists is likely to be extremely difficult thanks to their already elaborate financial cloaking set-ups. Bin Laden's group is known to have financial bases in Luxembourg, Switzerland, Monte Carlo and Cyprus - all renowned for their financial independence. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.