There is a Good Chance That Your Bank Hit By Cyber Attackers

by Tseng H. K.
The article I read this week is “Major Banks hit with biggest cyber attack in history” by David Goldman. The author is saying that major banks such as Bank of America, Wells Fargo, JPMorgan Chase, U.S. Bank and PNC bank had experienced biggest cyber attack ever in the history over weeks since September 19, 2012. The volume of the attack was 10 to 20 time larger than normal attacks, and 2 times larger than previous record. These banks all suffered day-long unusual volume of traffic that cyber attackers created. The unusual traffics caused slowdowns, and some bank’s website was temporally unreachable to many customers. Fortunately, there was not actual hacking involved. None of personal data or transactional data was stolen. The attackers were simply tried to knocking down the bank’s public facing website this time.

This article is interesting because we have talked about data security in the class. We have learned why conventional file processing system has limitations in security and data integrity when multiple users attempt to change data at same time. Even though there are several costs and risks in database approach, almost all company use database approach nowadays, one of the biggest advantages is security.

If cyber attackers succeeded this attack, many customers would be worry about their funds. And the incident will damage the company’s credit, moreover will endanger company’s life. I glad to see there was no loss from this attack, the banks should prepare for bigger attacks in the future.

Citation:
Goldman, D. (September 29, 2012), Major banks hit with biggest cyberattacks in history. Retrieved from http://money.cnn.com/2012/09/27/technology/bank-cyberattacks/index.html

3 thoughts on “There is a Good Chance That Your Bank Hit By Cyber Attackers

  • September 30, 2012 at 3:57 pm
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    I enjoyed the fact that you mentioned how if the bank’s databases were compromised, not only would the banks’ reputation would be hurt and how customers would be worried about their funds but how you also mentioned about data integrity. Data integrity is important because if any of the banks, customers or any important information was compromised, it would hurt a lot of businesses and customers.

  • September 30, 2012 at 6:38 pm
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    It’s interesting to read that the attack was twice the size of the last record attack. It shows that whoever is trying to get to these banks is really stepping up the intensity of these attacks. It is scary to think that there are people devoting so much time just to attack these companies without actually trying to force their way into sensitive data.

  • October 1, 2012 at 10:49 pm
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    We will learn about major issues of data security, concurrency control, and backup and recovery that occupy database administrators’ attention on an ongoing basis in Chapter 11 Data and Database Administration.

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