×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: banks | cyberwar | sanctions | financial sector | colonial pipeline

NY Post: Russia Declares Cyberwar on US

Vladimir Putin chairs a meeting
Russian President Vladimir Putin (Alexey Nikolksy/Getty Images)

By    |   Wednesday, 02 March 2022 08:41 AM EST

Cyberwar has been declared on the United States, with Russia using preliminary but increasing steps in a campaign to cripple the nation's banking systems and potentially other industries, according to a new report.

The United States' major banks, JP Morgan, Bank of America, Citigroup, and Goldman Sachs, are under constant cyberattacks from criminals, usually located in Russia, Iran, or China, but those attacks are intensifying after sanctions were announced over the invasion of Ukraine, business reporter Charles Gasparino eported in the New York Post Tuesday.

The bank executives would not comment on the record out of fear that comments would embolden both cybercriminals and Russian government proxies, and referred calls to the Financial Services Information Sharing and Analysis Center, a cybersecurity consortium for the banking industry.

"We are in close communication with our member firms and relevant authorities around the world to monitor cyber activity against the financial sector," a group spokesperson told The Post in a statement. "At this time, the sector is not seeing any significant threats attributable to any geographic origin. We continue to actively assess the situation through enhanced monitoring and cross-border threat intelligence sharing across the financial services sector."

The Biden administration has been working with the banks for some time to prepare for cyberattacks, and the banks have spent billions of dollars to protect their systems, but the paper's sources say the latest wave is a "subtle but intensified assault" on the banks' technology infrastructure.

One big bank executive said the consensus in the industry is that Russia is behind the latest attacks, adding that so far, there have been no real breaches.

Press officials from JP Morgan, Citigroup, Bank of America, Goldman Sachs, and Morgan Stanley offered no comment on the reports.

The financial sector is likely to be better protected than other industries against cyberattacks because it spends billions on the issue, but "other industries are definitely at risk of attack," Herb Lin, a senior research scholar at the Center for International Security and Cooperation at Stanford University, commented to The Post.

"I think the water utility companies could be a weak spot as they're not known for their cybersecurity," he added.

Moscow has denied ties to the criminals behind massive attacks against the Colonial Pipeline and the meat producer JBS, but federal intelligence officials say the hackers have at least some support from Russian President Vladimir Putin.

© 2022 Newsmax. All rights reserved.


Newsfront
Cyberwar has been declared on the United States, with Russia using preliminary but increasing steps in a campaign to cripple the nation's banking systems and potentially other industries, according to a new report.
banks, cyberwar, sanctions, financial sector, colonial pipeline
396
2022-41-02
Wednesday, 02 March 2022 08:41 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved