Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

4/4/2013 (1 year ago)

Catholic Online (www.catholic.org)

U.S. companies are chief targets in global cyber conflict

The chart above shows the availability of major U.S. bank In an alarming demonstration of growing cyber-attacks on the world stage, U.S. banks have been particularly hard-hit by cyber attacks over the past six weeks. Major U.S. bank web sites have been offline a total of 249 hours in the past six weeks. Experts say that the heavier-than-usual outages are the result of a sustained attack that began seven months ago. The unavailability of these Web sites leads to great frustration among customers and the banks.

None think that the group might be the work of attention-seeking teen-aged hackers, as they would likely have grown bored, or run out of resources, long ago.

None think that the group might be the work of attention-seeking teen-aged hackers, as they would likely have grown bored, or run out of resources, long ago.

Article Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

4/4/2013 (1 year ago)

Published in Business & Economics

Keywords: Cyber attacks, bank Web sites, Izz ad-Din al-Qassam Cyber Fighters


LOS ANGELES, CA (Catholic Online) - "Literally, these banks are just in war rooms, sitting at controls trying to stop (the attacks)," bank security analyst with Gartner Group Avivah Litan says. "The frightening thing is (the attackers) are not using as much resources as they have on call. The attacks could be bigger."

In short order, Bank of America, Wells Fargo, PNC and a number of other banks suffered hours-long Web site outages.

Calling itself "Izz ad-Din al-Qassam Cyber Fighters," a group released an anonymous statement saying it was attacking banks in sympathy with real-world protestors reacting to the anti-Islam film. "Innocence of Muslims" that had been posted online.

The group is still taunting the U.S. financial system, with notice almost daily from another bank that had to apologize for letting down its customers. American Express and Wells Fargo issued statements last week saying they suffered outages.

The biggest financial institutions in the world can't seem to stop them, even with advance notice.

None think that the group might be the work of attention-seeking teen-aged hackers, as they would likely have grown bored, or run out of resources, long ago.

National security officials said last fall that they suspected the Iranian government was behind the attacks. It seems certain that an organized group, with both a political motive and the ability to fund the operation, is to blame.

Web sites go offline for a variety of reasons, such as late-night software upgrades, for example - and some outages are to be expected, Aaron Rudger, a Keynote spokesman said.

These outages during a six-week period, which ended March 31 is significant, indicating those bank Web sites were unavailable for about two percent of the time during that stretch. The same six weeks last year, the same bank Web sites were down 140 hours.

Senior technologist at Internet infrastructure company Neustar, Rodney Joffe gave chilling advice to banks preparing for an al Qassam-style attack last fall: Prepare a sincere-sounding apology, he said.

"It goes on and on and on ... It's like they are kicking sand in someone's face, reminding people that they are there," Joffe says. "You just have to ask yourself, 'Why?' (The attackers) just seem to enjoy being able to say 'On an ongoing basis, we can make life uncomfortable for your banking industry.'"

---


Pope Francis calls for your 'Prayer and Action'


© 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for March 2014
Respect for Women:
That all cultures may respect the rights and dignity of women.
Vocations: That many young people may accept the Lordís invitation to consecrate their lives to proclaiming the Gospel.



Comments


More Business & Economics

Is the 'Mark of the Beast' the future of money? Watch

Image of Theoretically, a unique identifier is attached to your digital wallet, could transmits payment for the groceries directly to the store.

By Catholic Online (NEWS CONSORTIUM)

Some futuristic thinkers say that in the next 20 years or so, when people go to the market, they will pick up the items they need and leave - without the benefit of paying a cashier. Sensors will identify a consumer by a mark, their way of walking or facial ... continue reading


Credit card wars: Wal-Mart sues Visa over transaction 'conspiracy' Watch

Image of Wal-Mart objects to the requirement that retailers who want to accept any payments via Visa honor all issuers' Visa-branded cards.

By Catholic Online (NEWS CONSORTIUM)

In an ongoing war over credit cards in the modern retail environment, Wal-Mart Stores Inc. is suing Visa Inc. for allegedly conspiring with banks to fix transaction fees. It's just the latest in a long, ongoing legal fight between retailers and card issuers. ... continue reading


In spite of tax revenue all-time highs - government still running in the deficit Watch

Image of Congress passed and President Obama signed

By Catholic Online (NEWS CONSORTIUM)

According to the Monthly Treasury Statement for February, inflation-adjusted federal tax revenues hit a record $1,104,947,000,000 in the first five months of fiscal 2014. It would stand to reason that the government would have partially dug itself out of its ... continue reading


'Regulated' Bitcoin exchanges planned in New York Watch

Image of Singapore has imposed a tax on Bitcoin trading and using it to pay for services, after classifying it as goods, rather than a currency.

By Catholic Online (NEWS CONSORTIUM)

In a sign that the digital form of exchange in popularity - and by extension, legitimacy, New York's financial regulator has called on firms to submit proposals to set up "regulated" exchanges for currency such as the Bitcoin. LOS ANGELES, CA (Catholic Online) ... continue reading


One, fell swoop: Italy's biggest bank to cut 8,500 jobs Watch

Image of The company is to create an internal

By Catholic Online (NEWS CONSORTIUM)

"I believe the group has turned the page," Italy's largest bank, UniCredit's chief executive, Federico Ghizzoni said. "We could have staggered the losses over several years. We decided to take them all in one year." It wasn't good news for many - Unicredit has ... continue reading


$30 trillion increase from $70 trillion between mid-2007 and mid-2013 sends global debt over $100 trillion Watch

Image of The bank is owned by 60 central banks and hosts the Basel Committee on Banking Supervision, a group of regulators and central bankers that sets global capital standards.

By Catholic Online (NEWS CONSORTIUM)

Everyone at some point seems to 'rob Peter to pay Paul' - especially international governments. During the European debt crisis, many nations borrowed money to keep their governments solvent. As a result, global debt increased by $30 trillion from the original ... continue reading


Wowza! Restaurant starts charging diners for Obamacare Watch

Image of Obamacare sounds nice, but somebody has to pay. At least Gator's Dockside is up front about it.

By Catholic Online (NEWS CONSORTIUM)

Going out to dinner? You'd better be prepared to pay a little bit extra thanks to Obamacare. A chain of Florida restaurants is tacking a surcharge onto diner's bills to help keep expenses at bay and workers on the payroll. LOS ANGELES, CA (Catholic Online) - A small ... continue reading


Time banking - where time is BETTER than MONEY Watch

Image of In a time bank, time is the money.

By Catholic Online (NEWS CONSORTIUM)

Alternative currencies such as Bitcoin and BerkShares are gaining popularity as people look for ways to escape what they see as a rigged and flawed system of monetary exchange in government currencies. However, the idea of banking time as opposed to money is also ... continue reading


Google tops Exxon as world's second-most valuable company - for a day Watch

Image of The one day-surge demonstrated the growing role of technology in the economy.

By Catholic Online (NEWS CONSORTIUM)

It was quite a day on Wall Street. Google, the world's largest online advertiser through its dominant search engine, had a higher market capitalization before falling back at the close in New York to a value of $395.4 billion compared to Exxon's $395.7 billion. ... continue reading


Bill Gates thinks poverty will be eliminated by 2035... But he's missing this one thing! Watch

Image of Bill Gates thinks the world will be more prosperous with absolute poverty for nations eliminated by 2035, mostly as a result of advances in medicine and technology.

By Catholic Online (NEWS CONSORTIUM)

Bill Gates has said that he does not expect to see anymore "poor countries" left in the world by 2035. In his third ,claiming that the world of today was better off than at any time in history and that in 20 years, it will be even more so. LOS ANGELES, CA (Catholic ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Genesis 1:1--2:2
1 In the beginning God created heaven and ... Read More

Psalm, Psalms 16:5, 8, 9-10, 11
5 My birthright, my cup is Yahweh; you, you alone, ... Read More

Gospel, Matthew 28:1-10
1 After the Sabbath, and towards dawn on the first ... Read More

Reading 2, Genesis 22:1-18
1 It happened some time later that God put Abraham to ... Read More

Saint of the Day

Saint of the Day for April 19th, 2014 Image

St. Alphege
April 19: Archbishop and "the First Martyr of Canterbury." He was born in ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter