Washington: Iranian hackers have repeatedly attacked Bank of America, JPMorgan Chase & Co and Citigroup over the past year as part of a broad cyber campaign targeting the United States, according to people familiar with the situation.
The attacks, which began in late 2011 and escalated this year, have primarily been "denial of service" campaigns that disrupted the banks' websites and corporate networks by overwhelming them with incoming Web traffic, said the sources.
They said there was evidence suggesting the hackers targeted the three banks in retaliation for their enforcement of Western economic sanctions against Iran. Whether the hackers have been able to inflict more serious damage on computer networks or steal critical data is not yet known.
Iran has beefed up its cyber capabilities after its nuclear program was damaged in 2010 by the Stuxnet virus, widely believed to have been developed by the United States. Tehran has publicly advertised its intentions to build a cyber army and encouraged private citizens to hack against Western countries....
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12:03 PM, Sep 22, 2012
US federal investigators are looking at whether JPMorgan Chase & Co traders hid trading losses that have since grown to $5.8 billion, according to a person familiar with the matter, after the bank said its own probe found reason for suspicion. JPMorgan, the largest US bank, said it believes it will lose at most another $1.7 billion from the bad credit trades. Problems at the group that made the bets,...
11:34 AM, Jul 14, 2012
JPMorgan Chase, the largest bank in the United States, said on Thursday that it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money. The company's stock plunged almost 7 per cent in after-hours trading after the loss was announced. Other bank stocks, including Citigroup and Bank of America, suffered heavy losses as well. "The portfolio...
09:59 AM, May 11, 2012
The shares of investment firm JPMorgan Chase plummeted on Friday after it reported a two billion dollar trading loss. ...
09:53 AM, May 11, 2012
New York: Standard & Poor's reduced its credit ratings on 15 big banking companies, mostly in the Europe and the United States, on Tuesday as the result of a sweeping overhaul of its ratings criteria. JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, Goldman Sachs Group Inc, Morgan Stanley, Barclays Plc, HSBC Holdings Plc, Royal Bank of Scotland Group Plc and UBS AG, were...
09:53 AM, Nov 30, 2011
Gold is a foul-weather friend. In times of war, recession and political turmoil, it always goes up. Looking around us, we can see so many signs of instability right now. The threat of terrorism has increased all over, especially so in India. Western Europe is afflicted with a debt contagion. The Korean Peninsula is in the tinder box. All signs that the appeal of gold will remain strong in 2011....
05:10 PM, Jan 12, 2011
After six days of talks, the $700 billion bailout debate is still caught in politics. ...
07:49 PM, Sep 26, 2008
New Delhi: West Indies captain Darren Sammy praised his bowlers for bundling out a strong Indian batting line-up for a meagre total, and said they would be looking to set a 350-plus target for the home team in the fourth innings of the ongoing first Test. Sammy said his bowlers' plan of bowling wicket-to-wicket on a slow Ferozeshah Kotla Stadium pitch paid rich dividends for the visitors, who bowled out...
12:53 PM, Mar 17, 2008
