JPMorgan Chase & Co. (NYSE:JPM) is the latest bank to be targeted by a cyber-attack. A similar event happened to the banks back in September. Also numerous other major U.S. businesses have been targeted over the past six months, including U.S. Bancorp (NYSE:USB) and PNC Financial Services (NYSE:PNC), which were also hit in September. Wells Fargo & Co (NYSE:WFC) was also targeted. This attack on Chase Bank is apparently a continuation of those earlier attacks.
The latest cyber-attack on JPMorgan Chase & Co. (NYSE:JPM)’s website happened on Tuesday and shut down access to the site. U.S. authorities have warned the nation’s largest banks about cyber-attacks and even said that they have passed terrorism as the biggest security problem facing the country.
Chris Hohn the founder and manager of TCI Fund Management was the star speaker at this year's London Value Investor Conference, which took place on May 19th. The investor has earned himself a reputation for being one of the world's most successful hedge fund managers over the past few decades. TCI, which stands for The Read More
The attack on Chase Bank is possibly the first in a new string of attacks that could happen. This week three cyber-terrorists who claim to be connected with the Islamic terrorist group Izz ad-Din al-Qassam have posted a list of nine banks that they intend to continue targeting in this round of attacks. JPMorgan Chase & Co. (NYSE:JPM) was the first bank on the list.
The other banks were: Bank of America Corp (NYSE:BAC), Citigroup Inc. (NYSE:C), PNC Financial Services (NYSE:PNC), U.S. Bancorp (NYSE:USB), BB&T Corporation (NYSE:BBT), Capital One Financial Corp. (NYSE:COF), Fifth Third Bancorp (NASDAQ:FITB) and Union Bank.
The attacks by al-Qassam are completed by flooding the banks’ services with numerous requests so that actual users of the website are unable to access it. There seems to be no pattern to the attacks, which makes them difficult to predict. Also authorities have not been able to determine exactly where the attacks are coming from.
A computer industry source told Fox Business that this latest round is part of the same round of attacks that started last fall. The group said the attacks would continue until authorities remove a video which mocks a Muslim figure from YouTube.