[mercury]

World Bank Under Cyber Siege in 'Unprecedented Crisis'
FOXNews.com - World Bank Under Cyber Siege in 'Unprecedented Crisis' - International News | News of the World | Middle East News | Europe News

What more will it take before American CxO's and politicians wake up and realize that these greedy, corrupt Indian Body Shops cannot be trusted with sensitive data. I'm anticipating an exponential increase in identity theft crimes as a result of American companies outsourcing our personal information to India, China, etc.

Here is an excerpt from the above article describing the most recent major breach in April 2008:

"The second major breach — of the bank's treasury network in Washington — was discovered in April 2008. The World Bank's Treasury manages $70 billion in assets for 25 clients — including the central banks of some countries. It carries out substantial collaborations with the world's finance ministers on public wealth and debt management, runs an active bond-trading desk in Washington, and does everything from currency trading to capital markets financings.

After a forensic analysis of the treasury breach, bank investigators discovered that spy software was covertly installed on workstations inside the bank's Washington headquarters — allegedly by one or more contractors from Satyam Computer Services, one of India's largest IT companies.

The software — which operates through a method known as keystroke logging — enabled every character typed on a keyboard to be transmitted to a still-unknown location via the Internet.

Upon its discovery, insiders report, bank officials shut off the data link between Washington and Chennai, India, where Satyam has long operated the bank's sole offshore computer center responsible for all of the bank's financial and human resources information.

Satyam was also banned from any future work with the bank. "I want them off the premises now," Zoellick reportedly told his deputies. But at the urging of CIO De Poerck, Satyam employees remained at the bank as recently as Oct. 1 while it engaged in "knowledge transfer" with two new India-based contractors.

Satyam — one of the largest and most prestigious IT companies in India — is publicly listed on the NYSE and boasts having $2 billion in sales and more than 150 Fortune 500 companies as clients. In 2003, Satyam — it means "truth" in Sanskrit — won a much-heralded and lucrative five-year "sole source" contract to design, write and maintain all of the World Bank's information systems."

[suresh_m1729@yahoo.co.in]

Thanks for sharing the information!!!

[AjayKumar.Kataram]

nice info...