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(Bloomberg)   Russian hackers go all Ukraine on big banks, annex gigs of data   (bloomberg.com) divider line 17
    More: Scary  
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1346 clicks; posted to Business » on 28 Aug 2014 at 4:07 PM (27 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



17 Comments   (+0 »)
   
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2014-08-28 11:38:33 AM  
Zero-Day Flaw

The hackers used a software flaw known as a zero-day in at least one of the bank's websites, according to one of the people familiar with the investigation. They then plowed through layers of elaborate security to steal the data, which security specialists said appeared far beyond the capability of ordinary criminal hackers. Zero-day is a flaw known only to the hackers, allowing them to take remote command of a computer.


Okay, Bloomberg needs a new tech writer stat. That whole article is just ridiculously incompetent journalism that only serves to misinform the public.

"Zero-day" refers to any flaw in the security of a piece of software that has been present since its release, in most cases unknown to the vendor. It is not the name of a particular bug or flaw. And the sentence "Zero-day is a flaw known only to the hackers" is just stupid, as many vulnerabilities are discovered by white-hats, and the black-hats piggyback their research and exploit the vulnerability on systems that haven't patched their software..
 
2014-08-28 12:17:14 PM  
A bit over a decade ago I spent 3 1/2 years in Japan. I used to laugh at how much they used paper to get things done. City hall, business offices, and schools all had these gigantic binders stuffed with all kinds of records and data. At the time I thought of it as a form of social welfare; the more paper they used the more people they needed to shuffle them and look things up. Things were electronic to some degree, but not like in the US at that time.

I'm starting to think their system had it's advantages.
 
2014-08-28 04:15:13 PM  

BigBenny: A bit over a decade ago I spent 3 1/2 years in Japan. I used to laugh at how much they used paper to get things done. City hall, business offices, and schools all had these gigantic binders stuffed with all kinds of records and data. At the time I thought of it as a form of social welfare; the more paper they used the more people they needed to shuffle them and look things up. Things were electronic to some degree, but not like in the US at that time.

I'm starting to think their system had it's advantages.


Revenge of the fax machines!
 
2014-08-28 04:15:22 PM  
Is there any way they can eliminate student loan debts?

If so, I'm ok with this.
 
2014-08-28 04:37:34 PM  

WhiskeySticks: Is there any way they can eliminate student loan debts?

If so, I'm ok with this.


I would prefer a couple zeros to go missing from my mortgage balance, but either way works for me.
 
2014-08-28 05:00:52 PM  
Nuke Moscow?
 
2014-08-28 05:27:35 PM  
Can we please pass a UN resolution stating that everything east of France and south of Turkey is a farking pain in the ass towards Humanity and nuke them all off the face of the Earth?
 
2014-08-28 06:12:15 PM  
+1 subby.
 
2014-08-28 07:09:16 PM  
This is, like, the third article I've read about it that named only "JP Morgan Chase and at least four other major" banks. So what the fark were the four other banks, numbnuts? You don't think this would be useful information for your readers, or is the plan only to report on what you're fed?

Journalism, ya'll.
 
2014-08-28 07:30:09 PM  

Jake Havechek: Nuke Moscow?


Only way to be sure....
 
2014-08-28 07:42:41 PM  

BigBenny: A bit over a decade ago I spent 3 1/2 years in Japan. I used to laugh at how much they used paper to get things done. City hall, business offices, and schools all had these gigantic binders stuffed with all kinds of records and data. At the time I thought of it as a form of social welfare; the more paper they used the more people they needed to shuffle them and look things up. Things were electronic to some degree, but not like in the US at that time.

I'm starting to think their system had it's advantages.


upload.wikimedia.org
Agrees.
 
2014-08-28 09:49:21 PM  
Wipe my credit
 
2014-08-28 10:29:19 PM  
Putin on the Ritz
 
2014-08-29 01:14:12 AM  
The sentence that made me do a double-take was this one: The bank expects to boost annual spending on cybersecurity by 25 percent to about $250 million by the end of the year from 2013 levels, [Dimon] wrote in April.

A bank that processes trillions of dollars a year, a bank whose failure would cause systemic problems for the U.S. financial market, was spending only $200M/year on cybersecurity?! W...T...F?!!
 
2014-08-29 02:13:02 AM  

Spermbot: The sentence that made me do a double-take was this one: The bank expects to boost annual spending on cybersecurity by 25 percent to about $250 million by the end of the year from 2013 levels, [Dimon] wrote in April.

A bank that processes trillions of dollars a year, a bank whose failure would cause systemic problems for the U.S. financial market, was spending only $200M/year on cybersecurity?! W...T...F?!!


Hey now, they were doing the regular updates from Microsoft. What more do you want?
 
2014-08-29 03:05:50 AM  

Spermbot: The sentence that made me do a double-take was this one: The bank expects to boost annual spending on cybersecurity by 25 percent to about $250 million by the end of the year from 2013 levels, [Dimon] wrote in April.

A bank that processes trillions of dollars a year, a bank whose failure would cause systemic problems for the U.S. financial market, was spending only $200M/year on cybersecurity?! W...T...F?!!


It's because those tellers in their branches make 50 cents over minimum wage.  They're expensive.
 
2014-08-29 09:51:53 AM  
In Soviet Russia, banks screw you screw banks!
 
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