Monday, September 24, 2012

The cyber- attack on the major banks: Bank of America Corp(NYSE:BAC), JPMorgan Chase(NYSE:JPM), Citigroup Inc.(NYSE:C)

Hackers from Iran have been disrupting the cyber network of three of the biggest banks of America. These attacks, which can be traced back to late 2011, have been occurring with much more regularity of late, and informers and sources confirm that Iranian Hackers are indeed the culprits. The three major banks, JPMorgan Chase & Co.(NYSE:JPM), Citigroup Inc.(NYSE:C) and Bank of America Corp(NYSE:BAC)  have been facing network problems and web traffic on account of the cyber campaigns which the hackers have launched, which more often than not, take the form of “denial of service”.

This traffic has been caused by the discordance produced by the campaign which tends to block up the networks as well as the websites belonging to the banks, and sources are almost certain that this has to do with the failure which Iran suffered in 2010 during the crash of its Nuclear program, on account of the Stuxnet Virus. This virus, it is alleged, has been created by the U.S.A and this crash has lead to Iran developing its cyber network drastically.

Senator Joseph Lieberman said that the attack is surely perpetuated by Iran. Lieberman is the Chairman of the Senate's Homeland Security and Governmental Affairs Committee and he made a statement, blaming this disruption in the cyber networks of the famous American Banks, on Iran.

People are not sure, however, as to what context the hackers fit into. They may be backed by their government, or they may be individual groups of nationalists, out to seek revenge for the nuclear program failure.

The issue, however, points Iran’s ability to successfully interfere with America’s cyber information systems. It is not sure whether they have stolen information or have bugged the systems, and there is a inquiry being conducted to find out exactly that.

The attack might also have been geared towards the banks on account of Iran not getting Western Economic sanctions.

Tehran, on the other hand, has publicly announced its intention to encourage people to hack into western cyber information and disrupt the cyber security of America. 

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