The White House’s cyber security czar, Michael Daniel, said the Obama Administration is deeply concerned about the reported hack of systems belonging to banking giant JP Morgan Chase & Co. but sees the incident as part of a larger trend of attacks against U.S. critical infrastructure. Asked about the targeted attack against JP Morgan and other banks and financial institutions, Daniel said that the White House was concerned, but not surprised by the incident. “We have watched for several years the trend of malicious actors in cyber try to figure out how to target critical infrastructure,” he said. “Financial services is critical infrastructure.” The White House was concerned that a major U.S. bank would fall victim to hackers, but sees it in the context of a “broad trend,” rather than an isolated incident, he said. Speaking with Michael Farrell, the Cybersecurity Editor at Christian Science Monitor, Daniel hit on many of the now-common talking […]
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Report: Hacked Password Behind Compromise of 75m JPMorgan Accounts
The top news this week is about Wall Street giant JP Morgan Chase, which disclosed on Thursday that a previously disclosed breach was much larger than initially believed, affecting more than 75 million account holders. And once again, reports suggest that a compromised employee account may be at the root of the incident. Bloomberg, which first broke the news of the cyber attack on JPMorgan Chase in August, said on Friday that hackers exploited an employee’s access to a development server as part of an attack on a JPMorgan Chase & Co. server that led to one of the largest cyber-attacks ever and the theft of data on 76 million households and 7 million small businesses. According to the Bloomberg report, which cited “people familiar with the bank’s review,” the breach started in June when an employee’s user name and password for what’s described as “a web-development server” were compromised. From that […]
Spotlight: Traceable CSO Richard Bird on Securing the API Economy
In this Spotlight episode of the Security Ledger podcast, I interview Richard Bird, the CSO of the firm Traceable AI about the challenge of securing application programming interfaces (APIs), which are increasingly being abused to steal sensitive data.
Spotlight Podcast: QOMPLX CISO Andy Jaquith on COVID, Ransomware and Resilience
In this Spotlight podcast* we’re joined by Andrew Jaquith, the CISO at QOMPLX to talk about how the COVID pandemic is highlighting longstanding problems with cyber risk management and cyber resilience. We also talk about how better instrumenting of information security can help companies get a grip on fast-evolving cyber risks like human-directed ransomware campaigns.
Chamber of Commerce Floats Guidelines for Cyber ‘Credit Ratings’
In-brief: The U.S. Chamber of Commerce has released guidelines for the use of cyber security ratings – a kind of “credit score” that will allow consumers and other businesses to assess the trustworthiness of organizations they do business with.