-Caveat Lector-
ALLEGED CIA CYBERWARFARE ON FOREIGN BANKS IS DANGEROUS PRECEDENT
WASHINGTON, May 28 /PRNewswire/ -- The Financial Information Protection
Association (FIPA) is denouncing information warfare against global
financial infrastructures as a national policy tool.
An article in Newsweek's May 31 issue discusses a secret "finding" that
allegedly authorizes government hackers to "diddle with Milosevic's
bank accounts" in foreign banks. According to the author, the action
is controversial and is supported only in small segments of the United
States' intelligence community.
"When governments try to hack into banks for any reason, they send
dangerous ripples through financial networks and across national
boundaries," Kawika M. Daguio, FIPA executive vice president, said.
"Attacking financial infrastructures injures innocent third parties all
over the world in unpredictable ways. Financial cyberwarfare damages
public confidence in the global financial system, establishes a bad
precedent and, moreover, invites retaliation and emulation." FIPA does
not take positions on the wider geopolitical issues involved in this
situation.
Daguio added, "The U.S. and other governments should swear-off the use
of information warfare against financial infrastructures and continue
to act to strengthen critical U.S. infrastructures by working in
partnership with the financial community and other infrastructure
owners."
FIPA (www.fipanet.org) is an association dedicated to helping
individuals, businesses and governments work together to protect
sensitive financial information while promoting commerce.
Kawika M. Daguio is the Executive Vice President, Financial
Information Protection Association and Principal Consultant,
Robustsystems.net. He was the former Federal Representative for
Payment Systems and Technology for the American Bankers Association and
consultant and PKI architect for ABAecom. He was a career employee
with the U.S. Department of Treasury, where he evaluated high-risk
programs and worked in an oversight function over U.S. Government bank
accounts in the U.S. and around the world.
Daguio has led the financial service industry's involvement in critical
infrastructure protection studies to demonstrate the industry's
advanced state of preparedness. He negotiated drastic revisions in the
U.S. Government's encryption and private network access policies and
regulations in order to protect sensitive financial information. He
has lectured on critical infrastructure protection at Harvard and made
presentations before U.S. government commissions and agencies. Daguio
has a MBA in Finance and a master's degree in public management from
the University of Maryland. He earned two bachelor's degrees from the
University of California.
SOURCE Financial Information Protection Association
-0- 05/28/99 /CONTACT: Janene Peterson,
877-843-4632, for the Financial Information Protection Association/
/Web site: http://www.fipanet.org/
CO: Financial Information Protection Association ST: District of
Columbia IN: FIN CPR SU: EXE
News provided by COMTEX.
[NEWSGRID] [BUSINESS] [USA] [CORPORATE] [BANKING] [FINANCIAL+SERVICES]
[COMPUTERS] [ELECTRONICS] [MARYLAND] [CALIFORNIA]
--
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