Fake News: The Real Threat to Financial Markets
Fake Data, the cousin of Fake News, are leading computers astray. With the increasing prevalence of fake data, algorithmic trading is at risk — unless companies gain complete real-time visibility into network data.
What is fake news?
In recent months, fake news has burst into the foreground, making the rounds on major social media outlets. It’s now difficult when scrolling through a feed of news stories to discern which sources are legitimate and which are not to be trusted. Fake news is the deliberate publication of hoax news, propaganda and false information purporting to be accurate with the aim of changing someone’s decision-making.
How is this phenomenon relevant to Corvil?
It’s not just people who are falling victim to the blurred lines of fake news– computers are also being led astray. Hackers are now using fake data to corrupt machines’ decision making by altering databases and documents. This potentially could be far more dangerous than fake news. It has been a growing fear now that hackers will target financial institutions, particularly those using automated trading algorithms on the stock market.
If hackers can access these machines and corrupt them so that the algorithms operate in a rogue manner, financial markets will be disrupted, creating massive instability. Given the industry’s reliance on machines, as markets crash throughout the wider economy, the amplifier effect could impact currencies, interest rates, oil prices, or even the cost of a beer — extremely serious stuff.
How do we stop this?
The key to preventing these kind of evasive attacks is simple. All you need to do is have total visibility into your network data so you can see on a daily basis both who is accessing your IT infrastructure and their patterns of behaviour. There’s no use in finding out in 4 weeks’ time that you have been the victim of an attack — the damage could be catastrophic. No need to panic, Corvil can help.
Corvil provides the granular visibility to bring attempted attacks to light as they are happening for increased cyber threat detection. Corvil continuously records and analyzes network communications, identifying and prioritizing suspicious and malicious behaviours in real-time. So, to stop fake data (and hopefully fake news) and prevent even more expensive beer… check out the security section on Corvil’s website to defend your IT environment.