European Commission takes action over EU ETS fraud

The European Commission has released a statement saying it intends to revise internet security guidelines following fraudulent activity on EU Emissions Trading System (EU ETS) registries.

Although some fraudulent transactions were carried out, the security of the Community Registry and the Community Independent Transaction Log has not been compromised, the statement said.

The Commission says it has informed all Member States and asked them to take appropriate security measures immediately.

A number of high-level traders and brokers told Energy Risk on February 3, they were concerned that they could be holding fraudulent European Union carbon allowances, after computer hackers attacked the German Emissions Trading Authority.

The Commission confirmed that the latest spate of fraudulent attacks took place on January 28.

 

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