At this pace, it’s only a matter of time an event this video portrays will happen again. One can only hope this time there will still be a safety net in place.
Iranian hackers took over a University of Michigan computer network during a massive cyber attack on U.S. financial systems last week that continued following comments on the strike by Defense Secretary Leon Panetta.
According to reports by a leading Internet security-monitoring firm, the cyber attacks against Bank of America, JPMorgan Chase, Citibank, and several other U.S. financial institutions began Oct. 8 when hackers gained control of the university’s College of Engineering network in Ann Arbor.
The attack then used automated malicious software to simulate hundreds of thousands of attempts by customers to log in to the banks’ remote access portals, resulting in overloading the networks.
Some of the bank’s operations were slowed or otherwise disrupted, and others were halted during the attacks, which a well-placed security analyst said are continuing.
The company and the analyst declined to be identified over concerns that they would become a future target of cyber attackers.
A U.S. official with access to intelligence reports said there are indications that the bank attacks were an operation conducted by the Iranian government. The official said the Iranians used the Lebanese terrorist group Hezbollah as a “cut out” or surrogate for the cyber strikes.
Also, the hackers put out a false story that the cyber strikes were a response to the anti-Muslim video that had been posted on the Internet.
In reality, the Iranian bank attacks are a response to U.S. and western covert actions against Iran’s nuclear program.
Full article: Iran Strikes Back (Washington Free Beacon)