Industry Group: Watch Out for Cyber Attacks on Banking Sites

A financial sector industry group is warning banks, brokerages and other firms to be on a heightened lookout for cyber attacks, and the warning comes after both JPMorgan Chase and Bank of America were hit with unexplained website issues.
The Financial Services Information Sharing and Analysis Center, also known as FS-ISAC, raised its “cyber threat level” from “elevated” to “high” in an advisory on its website.
The group cities “issues of concern include the recent credible intelligence regarding the potential” for cyber attacks against financial institutions.
Both JPMorgan Chase and Bank of America conceded to problems with their websites this week, but haven’t issued detailed explanations.
Some Internet outlets have speculated that the outages were caused by malicious hackers.
More specifically, FS-ISAC is urging vigilance regarding “distributed denial of service” or a DDoS campaign.
Denial-of-service attacks attempt to disrupt websites and computer systems by overwhelming an organization’s networks with computer traffic.

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