Feeds

BAE retracts hedge fund hack allegation

Well, this IS awkward, seeing as Wall Street formed a group to stop it happening again

Internet Security Threat Report 2014

BAE Systems Applied Intelligence has retracted allegations of a nasty attack on a hedge fund it floated on Canadian television a couple of weeks ago.

The firm today told Bloomberg was just a scenario that it used for “illustrative” purposes. BAE has promised not to scare us all with hypotheticals any more.

That promise is all well and good, save for the fact that “news” of the hack travelled swiftly, and widely enough that The Center for Financial Stability announced “the formation of a public / private partnership for the financial services community” staffed by lots of serious folks dedicated to making sure things like the imaginary hack couldn't possibly happen to other financial institutions.

The “incident” also generated a slew of global coverage, featuring buckets of expert comment to the effect that this kind of thing either happens all the time or could happen any minute now.

The latter remains true … assuming BAE's hypothetical was accurate. Even if it wasn't, that the mere mention of an unspecified attack on a high value target can provoke such a response suggests a worrying new way to spook users. And the markets. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
'Regin': The 'New Stuxnet' spook-grade SOFTWARE WEAPON described
'A degree of technical competence rarely seen'
You really need to do some tech support for Aunty Agnes
Free anti-virus software, expires, stops updating and p0wns the world
You stupid BRICK! PCs running Avast AV can't handle Windows fixes
Fix issued, fingers pointed, forums in flames
Regin: The super-spyware the security industry has been silent about
NSA fingered as likely source of complex malware family
Privacy bods offer GOV SPY VICTIMS a FREE SPYWARE SNIFFER
Looks for gov malware that evades most antivirus
Patch NOW! Microsoft slings emergency bug fix at Windows admins
Vulnerability promotes lusers to domain overlords ... oops
HACKERS can DELETE SURVEILLANCE DVRS remotely – report
Hikvision devices wide open to hacking, claim securobods
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.