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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 bill_mcgonigle (4333) * on Thursday August 28, 2014 @08:13AM (#47773403) Homepage Journal

    Why does the FBI get involved? is it because the events span multiple states, or because the banks have so much clout? If this had happened to google or microsoft, for example, would the FBI get involved?

    The FBI will exercise its power whenever it can, but almost always only if oligarchs are involved. Sure, they can't avoid the bad PR of ignoring a kidnapping, but if Grandma's money gets stolen because her paypal account is hacked, then don't expect her to get any help - only the institutions that are politically connected yet could afford their own investigation get that kind of help (while Grandma is essentially helpless). They'll excuse it by saying "oh, we can only help if the dollar amount exceeds $X because we have limited resources" but what that really means is they only help rich enough people, who (shocker) also tend to be the ones capable of making campaign donations. The help is means-tested, but not in the way one might expect.

    In various roles I've heard from local chiefs of police who are trying to help out various citizens, just because there is no other option for them. It's not uniform at all, but investigating online crimes is not what those guys have training for.

    If somebody here has had FBI help for small-dollar crimes where that was their only option, then I'd love to hear counterexamples.

  • by slimshady76 (3752059) on Thursday August 28, 2014 @08:26AM (#47773495)
    They forgot the NSA too... Who would benefit the most from the sensitive data stolen? Even more, who would benefit the most from the fear campaign?

Little known fact about Middle Earth: The Hobbits had a very sophisticated computer network! It was a Tolkien Ring...

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