The Bankwatch

Tracking the consumer evolution of financial services

China’s ambitions extend to crippling an enemy’s financial, military and communications capabilities

Military intelligence is not normally for this blog, there is an undercurrent in this new military front, that is directly aimed at Banks and financial services. No doubt our side is developing those same capabilities, but the prospect of being pawns, and the customer disruption prospect is real.  All the more reason, for Banks to develop multiple channels, and have a mobile strategy, that might be their main customer contact point in a crisis.

“China’s ambitions extend to crippling an enemy’s financial, military and communications capabilities early in a conflict”

The extent of the work in this area is astonishing, and this article provides the background.

China’s cyber army is preparing to march on America, says Pentagon – Times Online

The blueprint for such an assault, drawn up by two hackers working for the People’s Liberation Army (PLA), is part of an aggressive push by Beijing to achieve “electronic dominance” over each of its global rivals by 2050, particularly the US, Britain, Russia and South Korea.

The impact is real, as Estonia found out earlier this year.

In February a massive cyber attack on Estonia by Russian hackers demonstrated how potentially catastrophic a preemptive strike could be on a developed nation. Pro-Russian hackers attacked numerous sites to protest against the controversial removal in Estonia of a Russian memorial to victims of the Second World War. The attacks brought down government websites, a major bank and telephone networks.

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Written by Colin Henderson

September 8, 2007 at 11:31

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