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Friday, September 28, 2012

American Banks to Expect Cyber Attacks

One of the financial services industry groups has recently warned American money men to be alert for hacker attacks after both Bank of America and JPMorgan Chase had suffered unexplained outages.

According to the Financial Services Information Sharing and Analysis Center, the outfit had some credible intelligence about the possibility of cyber attacks. It turned out that some unnamed individual posted a statement online, where they threatened to attack Bank of America and the New York Stock Exchange as part of a campaign against American corporations.

Industry experts are sure that the campaign and attacks were because of the anti-Islam movie which has made its way around the web. In the meantime, Dan Holden, head of security research at Arbor Networks, also confirmed that a few American banks were under assault by a DDoS campaign.

In other words, it seems that the hacker attacks are quite big and targeted at disrupting the official sites and other computer systems at the targeted entity. This is usually done though distributed denial of service attacks, i.e. by overwhelming the networks of the company with traffic.

Last week the FBI has also announced a “fraud alert”, which advised financial services companies that cyber criminals might be disrupting service to their official sites in attempt to prevent the financial institutions from detecting a recent surge in fraudulent large-sized wire transfers. As for the alleged reason for the cyber attacks, the Feds believe that anti-Islam movie will only be used as cover for bank hacking. Anyway, regardless of the reason, the US banks are alert and should cope with the attacks.

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