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FBI Investigates 'Sophisticated' Cyber Attack On JP Morgan, 4 More US Banks 98

Posted by timothy
from the could-have-been-motivated-by-love dept.
Bruce66423 writes with news of an electronic attack believed to affect at least five U.S. banking institutions this month, including JP Morgan, now being investigated by the FBI. According to the Independent, The attack on JP Morgan reportedly resulted in the loss of “gigabytes of sensitive data” that could have involved customer and employee information. It is said to have been of a level of sophistication beyond ordinary criminals, leading to speculation of a state link. The FBI is thought to be investigating whether there is a connection to Russia. American-Russian relations continue to be fraught amid the crisis in Ukraine, with sanctions ramped up. Bruce66423 asks "The quality of the attack, which appears to have led to 'gigabytes' of data being lost, is raising the prospect of a state being the source. The present culprit suggested is Russia... why the assumption it's not China — just because China isn't invading the Ukraine at the moment?" News of the attack is also at the New York Times, which notes Earlier this year, iSight Partners, a security firm in Dallas that provides intelligence on online threats, warned companies that they should be prepared for cyberattacks from Russia in retaliation for Western economic sanctions. But Adam Meyers, the head of threat intelligence at CrowdStrike, a security firm that works with banks, said that it would be “premature” to suggest the attacks were motivated by sanctions.
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FBI Investigates 'Sophisticated' Cyber Attack On JP Morgan, 4 More US Banks

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  • by jratcliffe (208809) on Thursday August 28, 2014 @08:11AM (#47773387)

    If it crosses state lines, and/or international borders, then the FBI gets involved. Also, if the crime is highly technical, and requires specific expertise, the FBI often gets involved as well (since the police dept in city/state X might not have the same level of capability).

  • Inside Perspective (Score:1, Informative)

    by Anonymous Coward on Thursday August 28, 2014 @12:22PM (#47776099)

    We work with JPMorgan. We host hundreds of terabytes of sensitive data for them.

    They take information security more seriously than any other organization that we work with, and we work with a number of Fortune 50 corporations, tech companies, and the United States government.

    If they are getting hacked, it is not due to a lack of effort or competence on the part of their risk management and security teams. All of the common complaints that get voiced here about companies not taking security seriously, about companies not spending money on security, about PHBs not getting security, are not applicable to JPMorgan. Those people get it. I do not say that lightly. There are plenty of equally large financial institutions and organizations with similar amounts of resources who do not spend even a quarter of the effort on securing their data that JPMorgan does.

    As a client, they are a serious pain the ass to work with. But at the end of the day, their security controls and risk management processes are heavily weighted towards security at all costs, ease of use / access be damned.

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