Cyberwarfare: Will terrorists blow up the global finance system with weaponised algorithms?…(False Flag Alert!!)

Thursday, January 14, 2016
By Paul Martin

By Ian Allison FinTech reporter
IBITimes.com
January 14, 2016

Cyberwarfare waged by terrorists using weaponised algorithms and artificial intelligence – it sounds like something straight out of “The Fear Index” by Robert Harris, or maybe the plot of a James Bond flick. But this is the new reality and we should be scared – very scared.

High frequency trading technologies have infiltrated markets over the last decade leading to unprecedented episodes of volatility and flash crashes, leaving regulators as bewildered as everyone else. Technology which was once confined to investment banks or hedge fund managers has made its way into the retail space, and it can be relatively easily modified. In addition, recent advancements in machine learning and AI are entering a number of fields, including finance.

Kristian Kristiansen of QuantAlliance, which develops trading algorithms focused on Forex and commodities, told IBTimes UK: “Weaponised algos [algorithms] are software specifically designed to manipulate stock markets and start a market crash. The effect of this is not only a loss of assets, but the creation of fear that will manifest in investors. It will prevent them from creating further investment, or they will make significant downgrades in the amounts they invest. This in return will have a serious impact on any economy, even one as big as the US.

The Rest…HERE

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