Dialectic tensions in the financial markets: a longitudinal study of pre- and post-crisis regulatory technology

This article presents the findings from a longitudinal research study on regulatory technology in the UK financial services industry. The financial crisis with serious corporate and mutual fund scandals raised the profile of compliance as governmental bodies, institutional and private investors introduced a ‘tsunami’ of financial regulations. Adopting a multi-level analysis, this study examines how regulatory technology was used by financial firms to meet their compliance obligations, pre- and post-crisis. Empirical data collected over 12 years examine the deployment of an investment management system in eight financial firms. Interviews with public regulatory bodies, financial institutions and technology providers reveal a culture of compliance with increased transparency, surveillance and accountability. Findings show that dialectic tensions arise as the pursuit of transparency, surveillance and accountability in compliance mandates is simultaneously rationalized, facilitated and obscured by regulatory technology. Responding to these challenges, regulatory bodies continue to impose revised compliance mandates on financial firms to force them to adapt their financial technologies in an ever-changing multi-jurisdictional regulatory landscape

Privacy in Public and the contextual conditions of agency

Current technology and surveillance practices make behaviors traceable to persons in unprecedented ways. This causes a loss of anonymity and of many privacy measures relied on in the past. These de facto privacy losses are by many seen as problematic for individual psychology, intimate relations and democratic practices such as free speech and free assembly. I share most of these concerns but propose that an even more fundamental problem might be that our very ability to act as autonomous and purposive agents relies on some degree of privacy, perhaps particularly as we act in public and semi-public spaces. I suggest that basic issues concerning action choices have been left largely unexplored, due to a series of problematic theoretical assumptions at the heart of privacy debates. One such assumption has to do with the influential conceptualization of privacy as pertaining to personal intimate facts belonging to a private sphere as opposed to a public sphere of public facts. As Helen Nissenbaum has pointed out, the notion of privacy in public sounds almost like an oxymoron given this traditional private-public dichotomy. I discuss her important attempt to defend privacy in public through her concept of ‘contextual integrity.’ Context is crucial, but Nissenbaum’s descriptive notion of existing norms seems to fall short of a solution. I here agree with Joel Reidenberg’s recent worries regarding any approach that relies on ‘reasonable expectations’ . The problem is that in many current contexts we have no such expectations. Our contexts have already lost their integrity, so to speak. By way of a functional and more biologically inspired account, I analyze the relational and contextual dynamics of both privacy needs and harms. Through an understanding of action choice as situated and options and capabilities as relational, a more consequence-oriented notion of privacy begins to appear. I suggest that privacy needs, harms and protections are relational. Privacy might have less to do with seclusion and absolute transactional control than hitherto thought. It might instead hinge on capacities to limit the social consequences of our actions through knowing and shaping our perceptible agency and social contexts of action. To act with intent we generally need the ability to conceal during exposure. If this analysis is correct then relational privacy is an important condition for autonomic purposive and responsible agency—particularly in public space. Overall, this chapter offers a first stab at a reconceptualization of our privacy needs as relational to contexts of action. In terms of ‘rights to privacy’ this means that we should expand our view from the regulation and protection of the information of individuals to questions of the kind of contexts we are creating. I am here particularly interested in what I call ‘unbounded contexts’, i.e. cases of context collapses, hidden audiences and even unknowable future agents

Journalistic freedom and the surveillance of journalists post-Snowden

A paradigmatic shift is sometimes revealed by an unanticipated and extraordinary event, and so it was with Edward Snowden in 2013. A National Security Agency (NSA) contractor, Snowden was so appalled at the exponential expansion of covert digital surveillance that he decided it was his moral duty to inform the public, indeed the world. This he did from a hotel room in Hong Kong when he gave a small group of selected journalists access to 1.7 million classified documents taken from the NSA. These documents revealed the global snooping capabilities of the NSA and its ‘Five Eyes’ intelligence agency partners (ASIO in Australia, CSE in Canada, GCSB in New Zealand, and the GCHQ in United Kingdom). The Five Eyes can vacuum up just about all digital communications anywhere, anytime, and much else besides if they are so minded. Many who take a deep interest in signals intelligence thought these Anglo-Saxon agencies had probably increased their capabilities since 9/11, but even they were shocked when Snowden revealed the sheer scale – it far exceeded any estimate of capability

Double elevation: Autonomous weapons and the search for an irreducible law of war

What should be the role of law in response to the spread of artificial intelligence in war? Fuelled by both public and private investment, military technology is accelerating towards increasingly autonomous weapons, as well as the merging of humans and machines. Contrary to much of the contemporary debate, this is not a paradigm change; it is the intensification of a central feature in the relationship between technology and war: Double elevation, above one's enemy and above oneself. Elevation above one's enemy aspires to spatial, moral, and civilizational distance. Elevation above oneself reflects a belief in rational improvement that sees humanity as the cause of inhumanity and de-humanization as our best chance for humanization. The distance of double elevation is served by the mechanization of judgement. To the extent that judgement is seen as reducible to algorithm, law becomes the handmaiden of mechanization. In response, neither a focus on questions of compatibility nor a call for a 'ban on killer robots' help in articulating a meaningful role for law. Instead, I argue that we should turn to a long-standing philosophical critique of artificial intelligence, which highlights not the threat of omniscience, but that of impoverished intelligence. Therefore, if there is to be a meaningful role for law in resisting double elevation, it should be law encompassing subjectivity, emotion and imagination, law irreducible to algorithm, a law of war that appreciates situated judgement in the wielding of violence for the collective

RAPTOR: Routing Attacks on Privacy in Tor

The Tor network is a widely used system for anonymous communication. However, Tor is known to be vulnerable to attackers who can observe traffic at both ends of the communication path. In this paper, we show that prior attacks are just the tip of the iceberg. We present a suite of new attacks, called Raptor, that can be launched by Autonomous Systems (ASes) to compromise user anonymity. First, AS-level adversaries can exploit the asymmetric nature of Internet routing to increase the chance of observing at least one direction of user traffic at both ends of the communication. Second, AS-level adversaries can exploit natural churn in Internet routing to lie on the BGP paths for more users over time. Third, strategic adversaries can manipulate Internet routing via BGP hijacks (to discover the users using specific Tor guard nodes) and interceptions (to perform traffic analysis). We demonstrate the feasibility of Raptor attacks by analyzing historical BGP data and Traceroute data as well as performing real-world attacks on the live Tor network, while ensuring that we do not harm real users. In addition, we outline the design of two monitoring frameworks to counter these attacks: BGP monitoring to detect control-plane attacks, and Traceroute monitoring to detect data-plane anomalies. Overall, our work motivates the design of anonymity systems that are aware of the dynamics of Internet routing

Bakelite and other Shibboleths: eBay listings and the 'policing' of 'amateur' collecting knowledges within the space of an online old radio forum

eBay, the online auction site, is composed of thousands of item descriptions constructed by sellers themselves. Sellers may be collectors or antiques experts, but often they are amateurs selling off unwanted items. As such, eBay becomes an unprecedented public space for the performance of amateur collecting and consumption knowledges where experts are being disintermediated by non-expert knowledges. These knowledges have become a major source of discussion on an online old radio discussion forum and the case study presented here contends that amateur knowledges are strongly contested, often in separate online spaces, and as part of identity performance. While a ‘cult of the amateur’ may be occurring online, it is not happening without a fight over knowledge and its performance. eBay is shown as a relational space to the forum, allowing radio experts to perform their own group identity and related practices - distinguished from those seen on eBay. This paper examines these distinctions in detail - the identifying traits or 'Shibboleths' of eBay amateurs - such as the incorrect spelling of 'Bakelite'.

The perks and downsides of being a digital prosumer: optimistic and pessimistic approaches to digital prosumption

The recent evolution of users’ position and agency in digital environments absorbs the attention of several scholars in different fields of study. Users’ new ontological status as prosumers, simultaneously producers and consumers, and their role regarding productive paradigms has raised a lot of contrasting opinions. Different discursive techniques are employed to investigate production practices in digital worlds and are often crafted with the conventions of utopian and anti-utopian approaches. Nevertheless, the adoption of optimistic or pessimistic analytical and rhetorical strategies appears to be prejudiced towards the study of emerging online practices. In reality, the analysis of positive and negative approaches to productive paradigms in digital environments results in the detection of their limitations in reaching a comprehensive understanding of the investigated phenomena. Therefore, the adoption of a more neutral perspective is suggested, one that could potentially foster a holistic approach and therefore a broader and deeper comprehension of the analyzed phenomena