Sunday, 7 December 2008

When Your Bank is Really No Longer Safe

This week....ever so a small business magazine of really no importance in event occurred. The journalists for the magazine went out....and were able to buy the details on bank accounts held by 21 million Germans are for sale on the black market for 12 million euros (15 million dollars). The journalists work for Wirtschaftswoche magazine...met with a couple of guys that were middlemen. They arranged for a CD with 1.2 million accounts to be part of their original deal...and the magazine arranged a down payment for that data.

To put it night fell yesterday....this little bit of news had circled around Germany...and alot of folks are asking questions...serious questions. Thank God...its the weekend and the questions can only be answered by dimwit political figures or journalists. The real experts are off skiing for the weekend or drinking heavily in Rome.

The truth is....this group of CD's cover one in four of Germans.

The immedate reaction by the government? Well...they stood around and then said they'd pass more laws to protect more data. The amusing thing is...there are sufficent laws on the books to protect the data....the goverernment is basically ill prepared to carry out their mission and the cops are limited in the knowledge and capability to take on such an intelligent group of individuals.

I paused for a while and considered this entire scenario. Who has the knowledge to carry out a collection like this....and have a very strong dislike of the German government to create such chaos? Liechtenstein. Yep, little Liechtenstein. The country that would barely fit in a US county.

If you remember the chaos created in the past year when the German intelligence folks went into Liechtenstein and picked up a listing of all of the illegal German accounts there....where money was being hidden by the German rich and elite...there was a terrible mess created. The banks in Liechtenstein were upset....the government and king of Liechtenstein were upset....and the rich Germans who carefully hid their money were upset.

I'm thinking this was a moment of revenge. When the Germans eventually come to the end of the collection point on this entire CD....they will find this was an arranged deal where someone did everything possible to let the Germans know that their own banking system is no longer safe. How many copies of the CD collection exist? Thats the insurance in this deal. The Germans won't be able to say a word in the public sector because of the threat of more disks appearing.

There will be a quiet moment at some cafe in France....probably on the streets of Paris...where a German intelligence guy meets some small player from Liechtenstein....and there is a moment of direct knowledge exchanged. If the Germans stop their aggressive behavior and anti-Liechtenstein program....then this CD collection stays hidden. The intelligence guy will smile and hint that everything is taped and the guy will be charged with something. The guy smiles back and says "every single law and security program you enact...will be undone in hours, not days". At that one is smiling. The intelligence guy knows the other guys is right.

So there will be a quiet policy humble opinion...where the attempt to prosecute rich elite Germans over their bank accounts ends. The anti-Liechtenstein effort goes down the tubes. And the nothing is ever said in public any political figure in Germany. The news folks may ask questions over and over....but it simply won't matter.

When you tend to screw with people....if you are very lucky....they won't screw you back. Thats the best scenario. The other worrisome....and we'd best not even open that can of worms.

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