JPMorgan Hack Attacks: Are U.S. Sanctions the Cause?

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Aug. 28 (Bloomberg) – Bloomberg’s Anna Edwards reports on an FBI investigation of a hack attack on JPMorgan by Russian hackers. She speaks with Guy Johnson on Bloomberg Television's "The Pulse." (Source: Bloomberg)

Investigated by the fbi and others.

Two people familiar with the investigation are telling bloomberg russian hackers attacked jpmorgan chase and at least four other banks during the month of august, resulting in the loss of gigabytes of customer data.

One of the five banks has linked these attacks to the russian state backed hackers.

The fbi is investigating whether this is a retaliatory action against u.s. sanctions.

The nsa is also said to be helping out here.

What has been stolen?

Account information that could be used to take money out of banks.

No evidence that that has happened yet.

Some seennsitive information was taken.

There could be some european banks in there.

As you would imagine, there is layers of security systems in place.

Most often when you see this kind of information being stolen, it is via retailers or customers themselves.

Typically, the layers of protection are less.

It is quite tricky to work out exactly where this is coming from.

Some of these attacks have been through latin america and other regions.

The servers typically used by russian hackers, which is what has led the fbi and others to make these inquiries, how they are doing this is they are using software called zero day.

It allows hackers to essentially remote control into your computer.

They have to get through layers of banking security.

We have heard from jpmorgan over this and they are not concerned as to whether they have been hacked.

They say a business their size sitcoms do cyberattacks on a daily basis.

It is something that the industry is aware of and they are spending a lot of money.

There was recently a fairly high-profile warning that the next financial crisis could emerge as a result of some sort of internet-based financial institution.

Every time we have a financial crisis, you have to ask questions about where the next one might come from.

We have seen a jump over the last several months according to experts in the number of attacks we have seen coming from russia and other eastern european countries on u.s. financial institutions.

Interesting to explore whether this is linked to sanctions, whether it is retaliatory and to what extent or not the russian government might be involved here.

This is something the fbi is looking at.

I suppose we will wait to find out.

As jpmorgan has been saying, it is common that attacks take place.

It is not common that they are successful.

As i was saying, they have stolen gigabytes of customer data.

They haven't necessarily done anything with that.

Our reporting suggests they haven't stolen any money yet.

That would possibly lead into further lines of inquiry.

Interesting that jpmorgan was sold out.

They were singled out for criticism when they blocked a payment to the russian embassy.

Jpmorgan already being embroiled in the political evidence we find guiding 2014. everything is linked.

The known unknowns, the unknown unknowns.

What do we need to worry about next?

Thank you very much indeed.

We are going to take a break.

Coming up, german unemployment unexpectedly rises.

We are going to head to berlin.

And the french economic recovery or lack of it.

?

This text has been automatically generated. It may not be 100% accurate.

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