4 ms·

"in secret" is the issue

netsharc 2y ago
I guess a scammer can sell it as "we're buying something significant [another company?], this will affect our share price if the info goes out, so you need to sign this NDA and keep this quiet, you're only 1 out of 10 people who knows this...". They could also sell it as payment for an e.g. consulting firm for the above secret deal...
- the8472 2y ago
  Secret doesn't mean they can't use internal authenticated communication channels, at the very least to send a redacted confirmation.
  - dartos 2y ago
    You can send out free zoom and Google meet links. Idk if most people would tell the difference
  - llamaimperative 2y ago
    Most people historically would consider a video call with the person to be sufficiently authenticated. Yeah, that has changed obviously, but it has changed like today.
    - the8472 2y ago
      No, not today. This has already happened a few times. And even before it happened people warned about this predictable use of the technology. There has been enough time to update policies. Even $employer already did, and I consider their security policies so-so.
- gregjw 2y ago
  Arup is a private company
ajsnigrutin 2y ago
There are many secrets in business, especially in realestate. Found out, from some "unnamed source" that there will be a new bus stop and a new aldi store across the street from a building where some apartments are for sale? Don't mention it to anyone, secretly buy them, because their value will go up a lot, and do it discreetely, so other companies don't notice.
- Rinzler89 2y ago
  That should be classified as corruption/insider trading and punished as such. In my country that's how politicians and their friends get filthy rich. They know ahead of time where a new highway will be planned so they buy up all the rural land in that area for cheap so that the government will have to buy it from them at inflated prices to build the highway. Then, if a new government comes to power before the highway starts construction and realize they don't have any land where the highway will be built, they cancel the project and re-plan it on another route so that this time they can be the ones getting a cut. So this keeps getting repeated and the country ends up with no highways, but at least some people get obscenely rich.
  - deleted 2y ago
    [deleted]
  - ajsnigrutin 2y ago
    Insider trading is only when you're the insider. If you happen to walk past a geodetist (land surveyer?) on the street measuring something, ask him what'll be built there, and he tells you, you're still not the insider. Otherwise I agree, but in my country they do it differently,... government needs a building for X, someone close to someone in the government buys it for eg. 2mio eur, holds on it for a year or two, before a tender comes out (governments are slow), and 'coincidenetally' that building is the best match and the government buys it for eg. 7mio eur from that guy. (and then they split the difference).
    - lesuorac 2y ago
      Insider Trading is not even a crime (in the US). You can buy and sell stock for companies you have a relationship whether its employer/employee or a contractual relationship. The actual crime is using "Material Nonpublic Information" [1] and it does not matter how you obtained it. So, asking an employee what they're building and they ignore the confidentiality agreement to tell you - Nonpublic. Stalking surveyers from public land to find the lots they're commonly around - public. [1]: https://www.investopedia.com/terms/m/materialinsiderinformation.asp#:~:text=Material%20nonpublic%20information%20refers%20to,trading%20stocks%20or%20other%20securities https://www.investopedia.com/terms/m/materialinsiderinformat....
pjc50 2y ago
"Confidentiality" is entirely normal; since many deals such as takeovers rely on your competitors not knowing until it's happened, it's not unusual for this information to be restricted within the company on some sort of need-to-know basis. Authenticating transactions is going to be an increasing problem in the presence of deepfakes, though.
amelius 2y ago
Doesn't SAP have a workflow for that?

I guess a scammer can sell it as "we're buying something significant [another company?], this will affect our share price if the info goes out, so you need to sign this NDA and keep this quiet, you're only 1 out of 10 people who knows this...". They could also sell it as payment for an e.g. consulting firm for the above secret deal...

the8472 2y ago
Secret doesn't mean they can't use internal authenticated communication channels, at the very least to send a redacted confirmation.
- dartos 2y ago
  You can send out free zoom and Google meet links. Idk if most people would tell the difference
- llamaimperative 2y ago
  Most people historically would consider a video call with the person to be sufficiently authenticated. Yeah, that has changed obviously, but it has changed like today.
  - the8472 2y ago
    No, not today. This has already happened a few times. And even before it happened people warned about this predictable use of the technology. There has been enough time to update policies. Even $employer already did, and I consider their security policies so-so.
gregjw 2y ago
Arup is a private company

ajsnigrutin 2y ago

There are many secrets in business, especially in realestate. Found out, from some "unnamed source" that there will be a new bus stop and a new aldi store across the street from a building where some apartments are for sale? Don't mention it to anyone, secretly buy them, because their value will go up a lot, and do it discreetely, so other companies don't notice.

Rinzler89 2y ago
That should be classified as corruption/insider trading and punished as such. In my country that's how politicians and their friends get filthy rich. They know ahead of time where a new highway will be planned so they buy up all the rural land in that area for cheap so that the government will have to buy it from them at inflated prices to build the highway. Then, if a new government comes to power before the highway starts construction and realize they don't have any land where the highway will be built, they cancel the project and re-plan it on another route so that this time they can be the ones getting a cut. So this keeps getting repeated and the country ends up with no highways, but at least some people get obscenely rich.
- deleted 2y ago
  [deleted]
- ajsnigrutin 2y ago
  Insider trading is only when you're the insider. If you happen to walk past a geodetist (land surveyer?) on the street measuring something, ask him what'll be built there, and he tells you, you're still not the insider. Otherwise I agree, but in my country they do it differently,... government needs a building for X, someone close to someone in the government buys it for eg. 2mio eur, holds on it for a year or two, before a tender comes out (governments are slow), and 'coincidenetally' that building is the best match and the government buys it for eg. 7mio eur from that guy. (and then they split the difference).
  - lesuorac 2y ago
    Insider Trading is not even a crime (in the US). You can buy and sell stock for companies you have a relationship whether its employer/employee or a contractual relationship. The actual crime is using "Material Nonpublic Information" [1] and it does not matter how you obtained it. So, asking an employee what they're building and they ignore the confidentiality agreement to tell you - Nonpublic. Stalking surveyers from public land to find the lots they're commonly around - public. [1]: https://www.investopedia.com/terms/m/materialinsiderinformation.asp#:~:text=Material%20nonpublic%20information%20refers%20to,trading%20stocks%20or%20other%20securities https://www.investopedia.com/terms/m/materialinsiderinformat....

pjc50 2y ago

"Confidentiality" is entirely normal; since many deals such as takeovers rely on your competitors not knowing until it's happened, it's not unusual for this information to be restricted within the company on some sort of need-to-know basis. Authenticating transactions is going to be an increasing problem in the presence of deepfakes, though.

amelius 2y ago

Doesn't SAP have a workflow for that?