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.

» Ross Gelbspan's blog Login or register to post comments

What's next?

| Subscribe:

| Comment:

| Tools:

#712827

JR Wakefield. +1; Thu, 2010-02-04 04:59; He is not the only one

JR Wakefield

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

About the climate cover-up

Democracy is utterly dependent upon an electorate that is accurately informed. In promoting climate change denial (and often denying their responsibility for doing so) industry has done more than endanger the environment. It has undermined democracy.

There is a vast difference between putting forth a point of view, honestly held, and intentionally sowing the seeds of confusion. Free speech does not include the right to deceive. Deception is not a point of view. And the right to disagree does not include a right to intentionally subvert the public awareness.

Although all public relations professionals are bound by a duty to not knowingly mislead the public, some have executed comprehensive campaigns of misinformation on behalf of industry clients on issues ranging from tobacco and asbestos to seat belts.

Lately, these fringe players have turned their efforts to creating confusion about climate change. This PR campaign could not be accomplished without the compliance of media as well as the assent and participation of leaders in government and business.

Desmog Tip Jar

Help us clear the PR pollution that clouds climate science. Thanks to our dedicated readers, the DeSmog project counters the seeds of climate confusion.

Thank you for all you do. Please donate what you can. Whether its $10 or $100 every bit helps.