Phishing scheme goes after carbon credits

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2 Responses to “Phishing scheme goes after carbon credits”

  1. holtt says:

    Hackers stealing carbon credits to sell on the cap-and-trade markets. That’s so… Gibsonesque!

  2. oereye says:

    Fraudsters defrauding fraudsters… there’s a more serious point though. The “phishing” attack is not an isolated scam – a report by Europol in December 2009 found that up to 90 per cent of the trades on some EU carbon exchanges were down to VAT “carousel” fraud. The underlying problem is that carbon trading renders a whole set of incommensurable practices equivalent in order to make a single tradeable commodity, to the point that it is then unclear what is being traded (see http://www.carbontradewatch.org/carbon-trade-fails ). The resulting system is a scammers’ paradise.

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