[sgbuffett]

This one is just a ransomeware attack.

But state controlled bad actor come in and decided to do something other than demand a random, it can cripple and entire economy and bring it to a standstill.

In the past 2 decades we saw the consolidation of financial institutions. They increase in size and are reduced in numbers giving hackers large targets to focus on.

Recently we saw the disruption of services in one of our major banks due to system problems. It tells us that these systems are not perfect and can come down even for daily operations due to faults in the system.

The failure and slowness of financial institutions to act against scamming of victims gives me no confidence that they are jn any way proactive. We saw what happened to OCBC I'm which hackers a d scammers used both social engineering and system design flaws to mount an attack. But the attack is just a small player compared with state sponsored entities.

The complacency of our authorities when it comes to handling fraud and scams give me no confidence they are proactively dealing with these issues.