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This is also a national security risk. A nation state interested in war will have an easier time shutting down a small handful of things simultaneously to quic
by CoolGuySteve 8y ago
This is also a national security risk. A nation state interested in war will have an easier time shutting down a small handful of things simultaneously to quickly cripple our economy.
For example:
- Shutting down only Visa and Mastercard would disable the vast majority of credit cards.
- Disabling debit cards or withdrawing funds from JP, BofA, Wells Fargo, and Citi would disable the majority of banking clients in the US.
- About 40% of US air travel could be stopped by hacking American and Southwest.
We've already seen similar large scale attacks on large companies:
- In the 90s and early 2000s, Microsoft's weak security allowed worms to cripple Microsoft Office and Windows.
- 100 million JP Morgan accounts were compromised by 3 people in 2015.
- bilbo0s 8y agoI'm not disagreeing with you, but the military side of me can't help but see how all of those things would be beneficial for our government as well. Stopping US air travel in an emergency. Stopping electronic transactions in a financial emergency. Etc etc etc. I think a lot of government types would see many potential benefits in the way things are set up now. Even most regular people would have to, grudgingly, admit that, if it were necessary, this system could deliver the government unprecedented amounts of control. I mean, for good or for bad. But yeah, there's likely a double edged sword there. No question.
- phoe-krk 8y agoThere are very few cases where stopping a firm from functioning would be beneficial, as compared to it being destructive. Most of the time, we want flights, banking, credit cards, IT systems to function rather than go black; hackers have many more chances and time to disrupt all of these than a government will ever have occasions to consider halting a particular company's operations in the name of national security.
- wbl 8y agoRemember 9/11? Shutting down airspace in an emergency is easish: tell everyone to land.
- wpietri 8y agoThe US government already has a legitimate way to stop air travel. And the government already has significant persuasive power; if the Secretary of the Treasury asked all the banks to stop electronic transactions for a legitimate reason, I'm sure they'd comply. So what you're talking about is neither a legal government power or something where people would trust the government and follow along. You're looking for a way for the people in power to seize further power illegally when they think it appropriate. There's no "for good" there; that's just authoritarians undermining the rule of law.
- JumpCrisscross 8y ago> if the Secretary of the Treasury asked all the banks to stop electronic transactions for a legitimate reason, I'm sure they'd comply “Franklin Delano Roosevelt proclaimed a Bank Holiday...that shut down the banking system” in 1933 [1]. This is an old power pre-dating our current hyper-centralised banking system. [1] https://www.newyorkfed.org/research/epr/09v15n1/0907silb.html https://www.newyorkfed.org/research/epr/09v15n1/0907silb.htm...
- marcosdumay 8y ago> Stopping electronic transactions in a financial emergency. That means causing some people to starve. Literally. I can't imagine how it would improve some situation. At best, if transactions are stopped for a short enough time, you will not make it much worse.
- vbezhenar 8y agoOur country adopted cards recently, I have a card and using it almost everywhere, but I'm always carrying some cash, 200-500 bucks just in the case that card won't work for some reason. It happens. If Visa would be down, I wouldn't be disrupted and nobody would be disrupted around here. Why don't you carry some cash around, it's still a legitimate payment method and it doesn't take much space in your wallet.
- hedvig 8y agoI like how easily you separate groups of men in "government" from groups of men in "corporations"
- ben_w 8y agoI had a similar realisation a few days ago booking a flight between Berlin and London Stansted. Judging by the time of the flights, I believe Ryanair operates exactly one aircraft on that route.
- vkou 8y ago> This is also a national security risk. A nation state interested in war will have an easier time shutting down a small handful of things simultaneously to quickly cripple our economy. If you take a broader view, you will note that the United States telling Visa and Mastercard to shut down all service in <country> will cripple that country's financial system. The dangers of someone bringing your economy to a halt by 'hacking our systems' is overblown. These kinds of problems can be fixed, or routed around in a few days. You don't have this option when the systems you rely on are completely controlled by another nation state.
- qaq 8y ago"These kinds of problems can be fixed, or routed around in a few days." a large scale IR could easily be months when state level APT is involved
- cs702 8y agoLarge systems whose normal operation relies on the availability of one or a small number of individual components are by definition less reliable, less robust to attacks, and less resilient to disasters than large distributed systems which don't have such reliance and therefore operate smoothly in the face of routine failure of a significant portion of their individual components. This is true for geographic networks, economic and financial systems, software-as-a-service applications, and even potato variety in farming systems.[a] [a] https://en.wikipedia.org/wiki/Great_Famine_(Ireland)#Potato_dependency https://en.wikipedia.org/wiki/Great_Famine_(Ireland)#Potato_...
- swerveonem 8y agoWhat king of large system does not have smaller components that are relied upon?
- misiti3780 8y agoNassim Taleb's wonderful book "Antifragile" was about exactly this topic.
- rossdavidh 8y agoTrue, but I think his point was more precisely that when you go long periods of time _without_ having those systems fail (hopefully in relatively small ways), you get trouble. If Visa/Mastercard had outages on a regular basis, no doubt our retail system would be quite robust to them...
- __jahh 8y agonot sure if this counts as a paradox but that systems that are more reliable cause more chaos when they go down . The person easiest to survive the apocalypse is someone who already lives it.
- NotSammyHagar 8y agoYes! That is a brilliant point. You have to test for failures, it's not obvious - if you have failing systems occasionally you are already testing for failures.
- barrow-rider 8y agoI believe that is why Netflix has the "Chaos Monkey" -- to occasionally break things and see what happens. https://medium.com/netflix-techblog/the-netflix-simian-army-16e57fbab116 https://medium.com/netflix-techblog/the-netflix-simian-army-...
- 9712263 8y agoSlightly off topic, I was always thinking about are there any single point of failure in monetary system. Since bank reserve are accounts in central bank, which stores in some ancient servers. If terrorist or hacker found out a way to destroy those servers. Will the money in economy vaporize? Are there any paper record we could fall back?
- kensai 8y agoMr. Robot, is it you?
- flowctrl 8y agocough Bitcoin! cough
- btown 8y agoBitcoin won’t save you if the attacking nation state (say, China) can simultaneously nationalize and take over a majority of miners. Power is power no matter how many hoops it needs to jump through.
- pjc50 8y agoThis is pretty much the plot of Goldeneye. A lot of effort will have gone into disaster recovery (tapes in nuclear bunkers etc) but also remember the counterparties have records too.
- gaius 8y agoIt would not surprise me if the Bank Of England still kept written ledgers, with a quill, in Latin.
- qo32 8y agopfft and then they come back up, like rebooting your machine. You can cause a temporary crash these days not a permanent shutdown. People just don't get how hyperconnected things are. Everyone takes a hit if there are shutdowns. The 2008 financial crisis was the first demonstrator. Things are just too big to fail.
- sincerely 8y agoWasnt there a shipping logistics company whose network got hit by ransomware that shut down like 40% of shipping ports worldwide for like 72 hours? that’s serious economic damage, even if they eventually got backups etc running
- kccqzy 8y agoYup, Maersk. https://www.wired.com/story/notpetya-cyberattack-ukraine-russia-code-crashed-the-world/ https://www.wired.com/story/notpetya-cyberattack-ukraine-rus...
- devwastaken 8y agoYou can easily shut down the web just by dns. Icann owns pretty much everything and they're not even U.S based anymore.
- marcosdumay 8y agoThe DNS is replicated everywhere. A concentrated attack can at most freeze some subdomains.
- throwaway2048 8y agoICANN controls the non technical administrative/political portion of DNS, but the actual DNS root servers are extremely widely distributed. https://labs.ripe.net/Members/emileaben/dns-root-server-transparency https://labs.ripe.net/Members/emileaben/dns-root-server-tran... https://labs.ripe.net/Members/emileaben/screen-shot-2017-01-11-at-14-49-20.png/@@images/image/large https://labs.ripe.net/Members/emileaben/screen-shot-2017-01-...
- chiefalchemist 8y agoFrankly, if I were going to consider upsetting the balance of power, I would __not__ go directly for the jugular. I'd beat around the bush. I'd start random socio-political fires in more venerable countries / economies. Let that simmer. Then step up for the big fight, knowing the giant has spread itself thin trying to take care of the smaller / random fires.
- stuffedBelly 8y agoThis reminds me of a defcon talk by Chris Rock about how to overthrow a government. https://www.youtube.com/watch?v=m1lhGqNCZlA https://www.youtube.com/watch?v=m1lhGqNCZlA
- SwellJoe 8y agoKinda like what's been happening for a few years now.
- chiefalchemist 8y agoAgreed. UBL said he wanted to destroy the USA. He never said how. The fact that more and more money is spent as a reaction to fear; the divisiveness; the hyperbole; etc. Seems to me we're doing ourselves in. It just took a nudge to get that self-destruction rolling.
- drb91 8y agoThere is a symbiotic relation between “terrorists” and the politicians that use this fear to get elected.
- beefield 8y agoI have this hypothesis - which admittably is very weak on evidence and very weak on political correctness - that it is kind of a self-enforcing process. First, people with less cognitive capabilities seem to be inclined into conservatism and prejudice.[1] Now, how do you make people's cognitive capabilities less? You make people poor.[2] Second, you can make people conservative by making them scared [3] So you being a conservative politician and wanting to get more votes, you make people poor and scared and you get more votes. And the problem is, it is much easier to make people poor and scared than wealthy and feeling safe. [1] https://www.livescience.com/18132-intelligence-social-conservatism-racism.html https://www.livescience.com/18132-intelligence-social-conser... [2] https://www.reuters.com/article/us-poverty-brain/study-finds-poverty-reduces-brain-power-idUSBRE97S10W20130829 https://www.reuters.com/article/us-poverty-brain/study-finds... [3] https://mic.com/articles/26911/people-who-are-fearful-tend-to-be-politically-conservative-study-says#.GGSpbiwHg https://mic.com/articles/26911/people-who-are-fearful-tend-t...
- rconti 8y agoAnd we don't even think about these dependencies. In the US, Mastercard and Visa payments are generally both processed by all of the same processors; you know if you use Amex or Discover you'll have a harder time. I was in Cusco, Peru a couple of months ago, and there are signs ALL OVER saying Visa accepted here, and also quite a few about Mastercard. Imagine my surprise when we tried to make a purchase at a store (with Visa and Mastercard logos prominently displayed, no less!) where the merchant insisted on Mastercard. Not Visa. I found my backup credit card. And another. And I went through my debit cards. As did my wife. We had 9 cards between the two of us, and they were ALL Visas. Just not something you'd even think of in the US, frankly. And I've had plenty of Mastercards over the years, but the distinctions are rarely important to us.
- pm90 8y agoPaying extra for a service like cc is just accepted in the US but not so common elsewhere. So even slight differences in fees will have merchants refusing to use the more expensive one even at the cost of bothering customers.
- iagooar 8y agoWait... You have 9 credit cards? Why? How? Isn't that a maintenance burden keeping track of all of them? I've never ever had more than 2 at the same time and it was because I was transitioning from one bank to another...
- lotsofpulp 8y agoSign up bonuses and benefits can net you a few thousand dollars. With a password manager and push alerts and autopay, it’s very little work to manage, plus you’re not liable anyway if you dispute in a timely manner.
- b_tterc_p 8y agoSign up bonuses are good but cards cost about $70 a year typically. Wouldn’t it be better to hold two and change it up every year?
- sporkologist 8y ago> - Shutting down only Visa and Mastercard would disable the vast majority of credit cards. Can you say "instant riot"
- CM30 8y agoDoesn't even need to be a war that causes problems here. This: > - Shutting down only Visa and Mastercard would disable the vast majority of credit cards. Happened in the UK and Europe in June this year, where Visa's network crashed and took out credit card payment processing for millions of people for a good day or so: https://www.theguardian.com/world/live/2018/jun/01/visa-outage-payment-chaos-after-card-network-crashes-live-updates https://www.theguardian.com/world/live/2018/jun/01/visa-outa... As you can guess, that caused absolute chaos, with the crash becoming a major news event and many customers and businesses being unable to spend/receive money at all until it was fixed. So yeah, forget a government. Even a large business like that crashing or experiencing major technical glitches for a few days or so would bring down a large portion of society.
- CoolGuySteve 8y agoThe UK also had the NHS crypto ransom attack. It's hard to say if the US is similarly vulnerable, on one hand the US hospital system is more heterogenuos, on the other, the hospitals in major US cities have very janky IT systems.
- RobAley 8y agoActually, the majority of hospitals and trusts had little to no infections in that attack, obviously some (too many) did which is why it was bad news. But the NHS, in IT terms, currently operates as a disparate set of trusts with mostly their own IT systems. The reason that there was the level of infection there was, was due to lack of national IT standards/systems being enforced and trusts using outdated unpatched systems. The few national systems in use are, while not perfect, much better funded, updated and secured.
- deleted 8y ago[deleted]
- orcdork 8y agoYeah, how you cripple an economy is by not letting people take low budget holidays in Mexico and stopping them from buying imported crap off of amazon for a week. National security risk my ass - this is fearmongering.