Computer hackers have launched a massive phishing attack on the German Emissions Trading Authority. Reports in Germany claim the hackers reaped millions of euros in fraudulent emissions trading certificates. The European trade in CO2 emissions permits has been brought to a virtual standstill after computer hackers cracked security codes to gain access to company accounts last week. The Financial Times Deutschland reported on Wednesday that the hackers launched a so-called "phishing attack" in which they asked companies involved in the emissions trading scheme to re-register with the German Emissions Trading Authority (DEHSt). Companies which did so, the newspaper wrote, suffered huge losses as the hackers stole and then sold their carbon permits on the European emissions market.
The European trade in CO2 emissions permits has been brought to a virtual standstill after computer hackers cracked security codes to gain access to company accounts last week.
The Financial Times Deutschland reported on Wednesday that the hackers launched a so-called "phishing attack" in which they asked companies involved in the emissions trading scheme to re-register with the German Emissions Trading Authority (DEHSt).
Companies which did so, the newspaper wrote, suffered huge losses as the hackers stole and then sold their carbon permits on the European emissions market.
EUOBSERVER / BRUSSELS - Emissions trading registries in a number of EU countries were shut down on Tuesday (2 February) as a result of a phishing scam tricking traders into giving away their emissions allowances. Although emissions trading was still able to continue via the European Emissions Exchange, registries in nine member states - Belgium, Denmark, Spain, Hungary, Italy, Greece, Romania and Bulgaria Germany - closed to prevent any further losses, according to reports in the German press. Other national registries, notably those in Austria, the Netherlands and Norway, were quicker to react and while registration was suspended in these countries as well, they reopened on Tuesday. Phishing scams affect lots of online financial transactions, and now they have descended upon the ETS The European Commission told EUobserver that illegal transactions so far had only been reported in Germany and the Czech Republic. Brussels says that the registries will re-open once they have taken the appropriate measures to deal with the scam, including warning users and resetting passwords.
EUOBSERVER / BRUSSELS - Emissions trading registries in a number of EU countries were shut down on Tuesday (2 February) as a result of a phishing scam tricking traders into giving away their emissions allowances.
Although emissions trading was still able to continue via the European Emissions Exchange, registries in nine member states - Belgium, Denmark, Spain, Hungary, Italy, Greece, Romania and Bulgaria Germany - closed to prevent any further losses, according to reports in the German press. Other national registries, notably those in Austria, the Netherlands and Norway, were quicker to react and while registration was suspended in these countries as well, they reopened on Tuesday.
Phishing scams affect lots of online financial transactions, and now they have descended upon the ETS
The European Commission told EUobserver that illegal transactions so far had only been reported in Germany and the Czech Republic. Brussels says that the registries will re-open once they have taken the appropriate measures to deal with the scam, including warning users and resetting passwords.
