03 February 2010 19:24 [Source: ICIS news]
TORONTO (ICIS news)--A cyber attack on Germany’s carbon dioxide (CO2) emissions certificates trading registry has cost seven registry users and the country's federal enviroment agency €3m ($4m) and led to the system's suspension until Thursday, the agency said on Wednesday.
In an attack last week, hackers had managed to fraudulently obtain 250,000 emission certificates, each worth about €12, said the Umweltbundesamt.
Seven of 2,000 German registered users of the system had been defrauded. The agency and affected users had filed police charges, it said.
The system had a number of security features, but users needed to exercise caution in their dealings as well, the agency said and warned in particular against "phishing," that is, the fraudulent acquisition of usernames, passwords and other confidential data.
The German cyber attacks come amid recent reports of large-scale tax fraud in the country's CO2 certificates market.
According to business daily Financial Times Deutschland, ?xml:namespace>
In related news, a Canadian environmental group said last month that CO2 emissions trading systems were wide open to fraud as they were impossible to properly police.
($1 = €0.72)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|