And still there are some who don’t understand why there’s a lack of confidence in the financial markets?
Last week’s cyber attacks against US banks were more widespread than reported. In fact, it may have been the largest attack ever, industry experts say. According to Radware, a security firm that has investigated cyber intrusions on behalf of financial firms, roughly a half-dozen institutions endured digital assaults at around the same time, Tuesday. But only JPMorgan Chase (JPM) and BB&T (BBT) have so far confirmed the incident.
“If you have a leak in a boat, you can build a bigger boat so the leaks won’t mathematically sink your boat. That’s been fundamentally the process many folks have been taking.”
The attacks followed a threat earlier Tuesday by the al-Qassam Cyber Fighters, a group that has claimed responsibility for a series of incursions since September that have bogged down websites at some of the nation’s biggest banks and prevented customers from accessing their accounts. Tuesday’s attacks “were the largest…
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