Newsletters
The Enterprise Security Supersite NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Please click for more information, or scroll down to pass the ad, or Close Ad.
Home Network Security Viruses & Malware Hackers Security Solutions More Topics...
Eliminate costly downtime!
Find out how with Free White Paper
& enter to win a Samsung Galaxy Note

www.apc.com
Network Security
Fiercely productive scanners
Average Rating:
Rate this article:  
Banks on High Alert After Cyber Attacks
Banks on High Alert After Cyber Attacks

By Jennifer LeClaire
September 20, 2012 2:12PM

Bookmark and Share
"For banks and most organizations, the unfortunate reality is that if targeted, they will most likely be breached," security researcher Chris Petersen. "The question then becomes how capable and quickly can the breach be detected, contained, and eventually eradicated." Bank of America and JP Morgan Chase have both suffered possible DDoS attacks.
 


The Financial Services Information Sharing and Analysis Center has raised its cyber threat levels to "high" this week after several financial institutions -- including titans Bank of America and JP Morgan Chase -- fell victim to intermittent Web site outages.

"Issues of concern include the recent credible intelligence regarding the potential for [Distributed Denial of Service] and other cyber attacks against financial institutions," the group said on its Web site. "Additionally, Microsoft is aware of targeted attacks via active exploitation of a zero-day remote code execution vulnerability in Internet Explorer."

Microsoft has issued a quick fix for the IE flaw and plans to issue a full patch on Friday. Meanwhile, Bank of America said its Web site was back up and running normally. Chase.com appeared to be up and running as of the time of this writing.

Hardening Browsers

We turned to Bill Morrow, CEO of Quarri Technologies, to get his take on some of the fallout from the IE zero-day flaw. He told us the latest IE bug is an exploit that allows a Web site -- malicious or compromised -- to download and execute arbitrary code to the end user. He also pointed to the incident as evidence that endpoints today still remain afterthoughts in the security landscape.

"While Microsoft works on a patch for this new bug, industry experts are suggesting that users install new software and/or reconfigure network browser settings," Morrow said. "While the right idea in theory, in reality there is a high probability that many end users wouldn't perform the necessary mitigation or configuration steps to stop the attack."

Beyond the immediate issue with IE, Morrow also noted that the incident is yet another example of enterprise Web applications being at the mercy of the end user's skills at being a security administrator.

"To minimize their exposure to malware, it is critical for organizations to provide and enforce the use of a secure, hardened browser session to protect their most sensitive information and prevent unauthorized use and replication of confidential data," Morrow said.

Aggressive Cyber Criminals Rising

We also asked Chris Petersen, CTO of LogRhythm, for his take on the incident. He told us the latest security headline is a reminder of the increasing aggressiveness of cyber criminals.

"This aggressiveness combined with browser-based vulnerabilities like the one recently announced by Microsoft IE pose a real challenge to banks," Petersen said. "Targeted spear-phishing campaigns have a very high success rate and help cyber criminals easily bypass bank firewalls."

From his research, zero-day attacks are increasingly bypassing point security solutions designed to protect online banking Web sites. To defend against these advanced threats coming from multiple vectors, he said, banks should adopt a posture of continuous and automated analysis across all internal network and system activity to recognize abnormal and concerning behavior.

"For banks and most organizations, the unfortunate reality is that if targeted, they will most likely be breached," Petersen said. "The question then becomes how capable and quickly can the breach be detected, contained, and eventually eradicated."
 

Tell Us What You Think
Comment:

Name:



APC has an established a reputation for solid products that virtually pay for themselves upon installation. Who has time to spend worrying about system downtime? APC makes it easy for you to focus on business growth instead of business downtime with reliable data center systems and IT solutions. Learn more here.


 Network Security
1.   IBM Adds Disaster Recovery to SoftLayer
2.   How To Beat the Heartbleed Bug
3.   OpenSSL Calls for More Support
4.   NSC Backs Disclosing Vulnerabilities
5.   Heartbleed Flaw Affects Hardware


advertisement
Don't Reset Passwords for Heartbleed?
Added caution needed to ensure security.
Average Rating:
How To Beat the Heartbleed Bug
Big data analytics could be the key.
Average Rating:
Heartbleed Flaw Affects Hardware
Cisco, Juniper equipment vulnerable.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
IBM Offers Security, Disaster Recovery as SoftLayer Service
New disaster recovery and security services for SoftLayer clients are being added by IBM. Big Blue said the new capabilities will speed cloud adoption by alleviating concern over business continuity.
 
How To Beat the Heartbleed Bug
Heartbleed headlines continue as IT admins scramble for answers no one has. Early reports of stolen personal data, including 900 social insurance numbers in Canada, are starting to trickle in.
 
After Heartbleed, OpenSSL Calls for More Support
The president of the OpenSSL Foundation says more support is needed from companies and governments that use its software so that it can better spot and fix flawed pieces of code such as Heartbleed.
 

Enterprise Hardware Spotlight
Vaio Fit 11A Battery Danger Forces Recall by Sony
Using a Sony Vaio Fit 11A laptop? It's time to send it back to Sony. In fact, Sony is encouraging people to stop using the laptop after several reports of its Panasonic battery overheating.
 
Continued Drop in Global PC Shipments Slows
Worldwide shipments of PCs fell during the first three months of the year, but the global slump in PC demand may be easing, with a considerable slowdown from last year's drops.
 
Google Glass Finds a Home in Medical Education, Practice
Google Glass may find its first markets in verticals in which hands-free access to data is a boon. Medicine is among the most prominent of those, as seen in a number of Glass experiments under way.
 

Mobile Technology Spotlight
Amazon 3D Smartphone Pics Leaked
E-commerce giant Amazon is reportedly set to launch a smartphone after years of development. Photos of the phone, which may feature a unique 3D interface, were leaked by tech pub BGR.
 
Zebra Tech Buys Motorola Enterprise for $3.45B
Weeks after Lenovo bought Motorola Mobility’s assets from Google for $2.91 billion, Zebra Technologies is throwing down $3.45 billion for Motorola’s Enterprise business in an all-cash deal.
 
CTIA Caves, Volunteers Kill Switch Plan
After bucking against the concept of a smartphone kill switch, the CTIA just announced the “Smartphone Anti-Theft Voluntary Commitment” to thwart smartphone thefts in the U.S.
 

Navigation
Enterprise Security Today
Home/Top News | Network Security | Viruses & Malware | Hackers | Security Solutions | Mobile Security | Disaster Recovery | Windows Security
Data Security | EST Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters | XML/RSS Feed

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.