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Cyber attacks against US banks more severe than most realize
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The series of cyber
attacks that repeatedly knocked major US banking websites offline in the past
nine months has been more powerful than the general public realizes, government
officials and security experts told the reporters at Cybersecurity Summit.
A self-described
activist group, Cyber Fighters of Izz ad-din Al Qassam, has claimed credit for
the distributed denial-of-service (DDoS) attacks that took down the websites of
more than a dozen US banks for hours or even days at a time. Members of
congressional intelligence committees say the attacks are sponsored by Iran and
show its growing capability in cyberspace.US banks, Internet service providers
and security companies "have had trouble keeping up with the recent DDoS
attacks that have had the sophistication and the level of resources that a
nation-state entity like Iran can devote to them," House Intelligence
Committee Chairman Mike Rogers told reporters.
In three waves of
attacks since September, consumers have reported inability to conduct online
transactions at more than a dozen banks, including Wells Fargo & Co,
Citigroup Inc , JPMorgan Chase & Co and Bank of America Corp . Banks have
spent millions of dollars to fend off the hackers and restore service.In DDoS
attacks, thousands of computers all try to contact a target website at the same
time, overwhelming it with meaningless connections until it is rendered
inaccessible.The banks have said little about their frantic efforts behind the
scenes to restore websites, and industry groups have generally played down the
impact and severity of the attacks.
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