Cyber-Thieves Madoff With Millions in Carbon Credits

Wed, 2010-02-03 13:07Ross Gelbspan
Ross Gelbspan's picture

Cyber-Thieves Madoff With Millions in Carbon Credits

Sneaky cyber-thieves have made millions by fraudulently obtaining European greenhouse gas emissions allowances and reselling them.

The scam has hampered trading of the credits, which are seen as an important tool in curbing climate change, in several European countries.  According to Financial Times Deutschland, hackers sent e-mails to several companies in Europe, Japan and New Zealand which appeared to originate from the Potsdam-based German Emissions Trading Authority , part of the EU’s Emission Trading System.

The cyber-thieves then exploited the user data that was entered into their spoof Web site to transfer emissions allowances to other accounts, mainly in Denmark and Britain, from which they were quickly resold.

Comments

BILLIONS in carbon credits have been scammed in the EU. The whole enterprise is a mess there. Expect it to be so here. Oh, and not one molecule of CO2 has been removed from the atmosphere with these carbon credits. Though the public's utility bills have skyrocketed. Pensioners in the UK were burning books to keep warm because it's cheaper than fuel, during the coldest winter in a century: http://news.bbc.co.uk/2/hi/uk_news/scotland/8492333.stm