JP Morgan Building

Last week Bloomberg News reported cyber-attacks on US financial systems and the theft of gigabytes of sensitive data that could be used to empty bank accounts.  A zero-day flaw in bank networks allowed a malicious web application to extract personal information of millions of account holders, including account numbers, social security numbers, names, addresses, and phone numbers.

The number of US financial firms victimized has climbed to seven, in addition to several major European banks, and the scope of the attacks is larger than originally thought.  According to a CNET article this week, the criminals are very sophisticated and may have altered account or even deleted bank records.

The FBI and NSA are investigating the probability that Russian hackers are responsible Russia has a history of using hackers in cyberspace for military purposes.  Now, because of US sanctions economic retaliation is now a prime motivator and targets are worldwide.

Customers of JP Morgan Chase received bogus emails shortly before the exploit was discovered.  Anyone who banks online is advised to be skeptical of any email purporting to be from their bank.

“Companies of our size unfortunately experience cyber-attacks nearly every day.  We have multiple layers of defense to counteract any threats and constantly monitor threat levels,” said JP Morgan spokeswoman Patricia Wexler.

Billions of dollars are in motion every day, and armies of hackers are working hard to gain access to banks across the globe.  EdgeWave’s iPrism Integrated Web Security Suite gives financial institutions comprehensive protection against zero-day vulnerabilities and military-grade defense against attacks from all types of adversaries.  EdgeWave‘s additional layer of human analysts from the military cyber space is unparalleled.  Read EdgeWave’s data sheet.