Wall Street banks are now testing to see if their chips can handle the latest threat to their stability: voltage stabilizers.
The Wall St. Journal article The world’s banks are testing to find out whether their chips are up to the latest threats to their safety, a step they say is necessary to avoid the worst-case scenario.
But regulators warn that a lack of data and an inability to get answers from chip makers about what’s happening to their chips could cause them to miss out on a significant portion of their customers.
The Wall Streets Journal reported on the findings, which came from a joint survey by chipmakers and regulators.
“It’s not a big deal,” said Michael J. Kump, president and chief executive officer of the Financial Stability Board, the watchdog group that oversees Wall Street.
“We’re not going to be in this situation with the biggest players.”
That’s because chipmakers often have limited resources and lack the time or money to keep up with the volume of calls they receive from customers.
Chipmakers are testing a new chip in the field to test whether they can handle voltage stabilisers that are now coming to market.
But some experts say the tests, which are part of a broader effort to develop new chip design technologies, are not worth the effort.
“It’s really not a very high-impact way to get the data,” said Kevin R. Cate, the chief technology officer of chipmaker Advanced Micro Devices Inc. The latest threats To some, the risk of a virus attacking the chip could outweigh the risk that it could damage the chip or trigger a power surge that could damage electrical equipment.
Chipmakers have said they are taking the new threat seriously.
The National Institute of Standards and Technology has issued guidance that outlines ways to protect against voltage stabiliser attacks, but it doesn’t mention the new chip that is being tested.
Some industry experts say regulators are getting it wrong.
“I don’t think the chip companies understand the magnitude of what they’re doing,” said Jonathan W. Miller, a professor of electrical and computer engineering at Northeastern University in Boston.
“They’re doing this to get data and get answers, but they’re not doing it to understand the risk.”
Miller, who has written about chip safety for a wide range of publications, said the regulators have not provided enough information to inform them of the risk.
“There’s a lot of misinformation out there,” Miller said.
A new report by the International Center for the Study of the Electronic Society, an industry group, found that the number of reported voltage stabilisation attacks in the last five years jumped from 1,000 to 730,000.
In a survey of more than 2,000 companies that have chip designs and tested them, the researchers found that while chip manufacturers have acknowledged that some chip designs could be susceptible to attack, many have not yet made the changes needed to improve their designs.
Industry groups say the companies that are not taking the threat seriously should do so, to avoid a repeat of what happened last year when an attack on a Texas-based chip maker’s chips caused it to shut down for more than a week and leave tens of thousands of customers without power.
Chip makers have said the chips they have tested can withstand the new voltages, but the companies say the chips have not been able to verify this claim.
Experts said that the companies could try to provide the chipmakers with data about what is happening to the chips and why they’re failing.
The chipmakers could also look at data from other vendors that have tested the chip and provide them to the chipmaker, and the companies would have to report on what they find.
The companies that test chips are required by law to get their chips certified by the F.S.E.C., the Federal Reserve Board, or the Securities and Exchange Commission.
The certifications ensure that a chip is safe for use in an electrical system.
While the chip industry has acknowledged that there are new threats, they say they are making the most of the situation.
The U.S.-based chipmaker Intel Corp., for example, has said that its chips are designed to withstand attacks, even though it said last year that it was not yet able to provide a detailed analysis of the new threats.
But a chipmaker that has been hit by a voltage stabilization attack has said in recent weeks that it has no plans to change its chips and that the threat is a distraction from its ongoing efforts to make better chips.
Many of the companies involved in the chip-design tests said they were not interested in giving the regulators any more information than was already available.
For now, the chip makers are continuing to test their chips with other chipmakers to see how they might fare under the new voltage stabilizing threats, and they are continuing their work on the chip to determine how they would respond.
At the same time, they have not publicly said