Case Study 1
In September to October 2012, major banks in America were targets of denial-of-service attacks. Among the victim banks were the Bank of America, JPMorgan Chase and Wells Fargo.
They were targeted likely because of their:
As a result of the cyber-attacks, the websites of the banks were jammed. Customers globally were unable to connect to their e-banking accounts. They were unable to make online transactions as well.
Customers' responses to the incident:
Who is Behind All This?
The American banks are still investigating the identity of the cyber-criminals, with Iran being a prime suspect.
However, an Islamist group Izz ad-Din al-Quassam Cyber Fighters (believed to be part of Hamas), has claimed responsibility. They claimed that the cyber-attacks were protests against an offensive YouTube video about their religion.
More Attacks To Come?
But it is not over, it seems.
In December 2012, the same group threatened to carry out further cyber-attacks on more American banks.
It remains to be seen if U.S. banks have tightened their online security following the previous round of attacks.
Get to the full articles:
"Cyber Terrorists Threaten Fresh Attacks on U.S. Banks"
"Cyber Attacks on U.S. Banks Expose Computer Vulnerability"
Below is a video report on the cyber-attacks.
They were targeted likely because of their:
- huge customer bases
- high importance in the global economy
As a result of the cyber-attacks, the websites of the banks were jammed. Customers globally were unable to connect to their e-banking accounts. They were unable to make online transactions as well.
Customers' responses to the incident:
- furious at the poor security systems
- lost confidence in their banks
- frustrated at the inconvenience
Who is Behind All This?
The American banks are still investigating the identity of the cyber-criminals, with Iran being a prime suspect.
However, an Islamist group Izz ad-Din al-Quassam Cyber Fighters (believed to be part of Hamas), has claimed responsibility. They claimed that the cyber-attacks were protests against an offensive YouTube video about their religion.
More Attacks To Come?
But it is not over, it seems.
In December 2012, the same group threatened to carry out further cyber-attacks on more American banks.
It remains to be seen if U.S. banks have tightened their online security following the previous round of attacks.
Get to the full articles:
"Cyber Terrorists Threaten Fresh Attacks on U.S. Banks"
"Cyber Attacks on U.S. Banks Expose Computer Vulnerability"
Below is a video report on the cyber-attacks.