[governance] US Banks under cyber attack

[Chaitanya Dhareshwar]

The war's been on for years now. (with an unseen/unrecognizable enemy)

Actually with today's fast moving world, time is a more critical commodity.
I'll take spam as an example.

If it's possible to have people spend 10 minutes more checking spam, or
make people check their email less often due to the vast amount of spam in
it, the attack has claimed a victim.

The implications are pretty significant - it may just be 10 minutes per
person - but weekly it adds up to almost an hour of active email
checking/deleting - plus the risk of a worm/virus coming in with the
message. For an organization with 1000 people it's 1000 man hours per week
wasted - which costs a fortune. In defence projects and suchlike inspite of
safety measures if one worm gets into the facility it can waste even 10
times more time than that (because nobody wants a worm crawling around on
their network).

Yes money is important - but with other victims easier to take like time,
social media account information (because most are fairly careful with
their bank details now-a-days) - it's still fairly easy to make a strike.

Just IMHO, for the consumer/customer I'd rank time > virus-threat >
password theft, and given 90% people already check the security certificate
(or look for the 'green bar' on FF) I'd say financial theft is slightly
less likely, and most consumers would not care too much as long as there's
no theft. Most think SSL is bulletproof!! They trust the banks (and their
security) implicitly.

For financials it's usually to get an alternative if the online banking
service is offline - like phonebanking or sms banking - or pop down to an
ATM and check the cash...  Not as much of a threat as long as there's no
data theft (which, TBH, the banks are doing a good job of keeping safe).

-C

On Sat, Oct 20, 2012 at 12:19 AM, Devon Blake <devonrb at gmail.com> wrote:

>
> http://finance.yahoo.com/blogs/daily-ticker/u-banks-under-cyber-attack-iran-money-safe-151123675.html
> Is this a response to Stuxnet? or is this the beginning of a cyberwar?
>
> --
> Devon Blake
> Special Projects Director
> Earthwise Solutions Limited
> 29 Dominica Drive
> Kgn 5
> ,Phone: Office 876-968-4534, Mobile, 876-483-2632
>
> To be kind, To be helpful, To network
> *Earthwise ... For Life!*
>
>
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