The WSJ reports some bad news on the cyber war front:
Hackers have repeatedly penetrated the computer network of the company that runs the Nasdaq Stock Market…
…it couldn’t be determined which other parts of Nasdaq’s computer network were accessed.
…the exchange’s critical role…(is) part of the nation’s basic infrastructure. Other infrastructure components have been compromised in the past, including a case in which hackers planted potentially disruptive software programs in the U.S. electrical grid, according to current and former national-security officials.
Cyber war is an area where others—to include criminals—have some pretty formidable capabilities. The UK, for example, is suing for cyber peace—or at least a truce—in the form of a cyber code of conduct.
"Many sophisticated hackers don’t immediately try to monetize the situation; they oftentimes do what’s called local information gathering, almost like collecting intelligence, to ascertain what would be the best way in the long term to monetize their presence”…
Intelligence is “to collect and convey the essential information the President and members of the policymaking, law enforcement, and military communities require to execute their appointed duties” according to intelligence.gov. Actually what has been described is more like reconnaissance: investigating and scouting around. Surveillance is watching something continually: think a stake-out.
The case poses two concerns for authorities: preserving the stability and reliability of computerized trading, and ensuring that investors have full faith in that system.
Obviously, full fidelity in our financial systems, power systems, and other forms of infrastructure is important.
Computer hacking is a problem for many countries. In recent years, U.S. authorities have dealt with cyberattacks linked to computers in Russia, China and Eastern Europe.