Sunday, July 12, 2009

Further Cyberattack Fear Mongering by South Korea -- "May Spawn Another Financial Crisis"

More and more of this fear mongering! When I read an article like this in a US paper, then I will know that we are full steam ahead toward the Cybersecurity Act of 2009 being the law of the land. I cringe at that thought. Anyway, South Korea says another cyberattack could cause another financial crisis.

``Even the primitive and simplistic DDoS attacks have successfully disrupted the country's online banking system although customers' money was protected this time around,'' Korea Information Security Agency (KISA) official Yoo Jin-ho said.

``What if more sophisticated and intensive schemes are launched to hit the whole system? If we are not ready, this could disrupt Internet banking trading, thus spawning another financial crisis,'' Yoo said.

I got news for you, buddy. The global bankers have already caused a financial crisis and they are heading out the back door to the getaway car with the proceeds! Besides, no acne-faced hacker in his parent's garage basement is going to bring down a financial system. This isn't Hollywood!

Source: The Korea Times

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