On Friday May 12, 2017 of last week, a Malware Virus was unleashed that rendered problems across the international globe. While not the first Virus of it’s kind, this is the most recent.
What can we learn? …… Something important!
“WannaCry”, the odd name of this most recent virus has spread to an estimated 230k machines. Once infected, your nice machine turns mean and asks you to deposit $300 into a bitcoin account or else deletes your files.
The ransom is doubled to $600 after three days if not paid, allowed another three days, and then if not paid, the files are supposed to be deleted.
Created by the NSA- accidentally lost
According to this NPR report the WannaCry virus was created by the NSA (National Security Agency) against many computer companies wishes, shelved for later use or research, then stolen from the NSA by a hacker.
Not withstanding the coincidence associated with an agency who’s purpose is Security, losing its own files there is an important lesson to be learned. Here is another good article from Wharton.
Lesson learned- Download those updates
The WannaCry virus was completely blocked by a patch from Microsoft several months ago.
The only systems affected at this time are older systems that did not do their regular updates or very old outdated systems that did not have updates.
The picture above taken was from the machine used to make this post.
Make sure you are doing your updates, either manually or automatically and do not use outdated software that does not have updates!
This certainly does not guarantee an infection free future for our machines, but at least it may stop the easy access !
Have a Great “Computer Virus Free” Day!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Thoughts from Former CIA, NSA Director – General Michael Hayden
If the resume wasn’t impressive enough, some of the actual experiences General Michael Hayden shared during a recent conference were incredible.
“Cold War, Cuban Missile crisis, Checkpoint Charlie, Defcon 3 over Soviet Nuclear weapons in October of 73” these times were more dangerous according to General Hayden …. “Today is more complicated!”
The 70 year old, Pittsburg, PA born General was certain our next major threat would not be in his words “of State” but from cyber threats.
It makes sense as technology is available to all, and unfortunately all are not friendly. It was very comforting for a General to have such a strong awareness and concern for this.
General Hayden also mentioned an obvious, but often forgotten fact that when countries get in a state of stress, they often distract with aggression.
Have a Great Day!
John A. Kvale CFA, CFP
PS Jeremy Siegel dinner later this week!
8222 Douglas Ave # 590
Dallas, TX 75225
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Posted in Investing/Financial Planning, Market Comments, World Political
Tagged CIA, Jeremy Siegel, Michael Haygen, NSA