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Siemens investigating report employee worked for Russian hacking firm

By Reuters_News

08:43, 31 March 2023

A file photo of the logo of German multinational conglomerate corporation Siemens AG displayed at the Collision conference in Toronto, Ontario, Canada June 23, 2022.
A file photo of the logo of German multinational conglomerate corporation Siemens AG displayed at the Collision conference in Toronto, Ontario, Canada June 23, 2022.

- Siemens SIEGn.DE has launched an investigation after Der Spiegel reported a former programmer from Russian IT company NTC Vulkan - which has reported links to Russian security services - worked for the German engineering and tech company.

The German news magazine said the worker was now employed by Siemens in Munich.

"We take this seriously and we are looking into this. We cannot reveal any information about the identity of the person due to data protection laws," Siemens said on Friday.

Der Spiegel reported on Friday that more than 90 former staff from NTC Vulkan worked for a several other European companies.

The magazine said NTC Vulkan maintains close ties to all three major Russian intelligence services: FSB, GRU and SWR.

BTC/USD

27,692.45 Price
+0.240% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 60.00

Oil - Crude

72.66 Price
-0.360% 1D Chg, %
Long position overnight fee -0.0154%
Short position overnight fee -0.0065%
Overnight fee time 21:00 (UTC)
Spread 0.03

US100

14,340.80 Price
+0.100% 1D Chg, %
Long position overnight fee -0.0255%
Short position overnight fee 0.0032%
Overnight fee time 21:00 (UTC)
Spread 1.8

Gold

1,945.22 Price
-0.040% 1D Chg, %
Long position overnight fee -0.0185%
Short position overnight fee 0.0103%
Overnight fee time 21:00 (UTC)
Spread 0.30

Its so-called "Vulkan Files" said the company builds cyber programmes for the security services aimed at attacking critical infrastructure facilities.

NTC Vulkan did not respond to requests for comment.

An ex-chief developer of the company is working as a "senior software development engineer" at Amazon Web Services (AWS) in Dublin, Der Spiegel also reported. Amazon did not respond to a request for comment.


Reporting by John Revill#
Additional reporting by Hakan Ersen
Editing by Mark Potter

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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