Amid fears of financial sabotage, one of the nation's top spy agencies is sharing intelligence on foreign computer hackers with Wall Street investment banks, Reuters is reporting.
The National Security Agency, a branch of the Defense Department, "is currently talking to financial firms about sharing electronic information on malicious software, possibly by expanding a pilot program through which it offers similar data to the defense industry," Reuters writes, citing the agency's director, Gen. Keith Alexander, who also heads the U.S. Cyber Command. He offered no details about the information sharing.
The NSA helps conduct overseas surveillance and protect U.S. government computer systems. Financial firms are also seeking cyber-security help from Pentagon contractors, according to U.S. officials, security experts and military industry executives interviewed by Reuters.
The FBI has also warned banks of specific threats.
Here's the nub of the article:
While government and private sector security sources are reluctant to discuss specific lines of investigations, they paint worst-case scenarios of hackers ensconcing themselves inside a bank's network to disable trading systems for stocks, bonds and currencies, trigger flash crashes, initiate large transfers of funds or turn off all ATM machines.
It is unclear if hackers have ever been close to producing anything as dire, but the FBI says it has already helped banks avert several major cyber attacks by helping identify network vulnerabilities. ...
Alexander said industry and government were making progress in protecting computer networks, but "tremendous vulnerabilities" remained. The four-star Army general noted companies that have suffered damage from hackers, such as Google Inc, Lockheed Martin Corp and Nasdaq OMX Group, had among the best security systems in the world.
Although investment banks have been in hackers' cross hairs for more than a decade, Reuters notes, "recent attacks have been more sophisticated, coordinated and deliberate."
The National Security Agency, a branch of the Defense Department, "is currently talking to financial firms about sharing electronic information on malicious software, possibly by expanding a pilot program through which it offers similar data to the defense industry," Reuters writes, citing the agency's director, Gen. Keith Alexander, who also heads the U.S. Cyber Command. He offered no details about the information sharing.
The NSA helps conduct overseas surveillance and protect U.S. government computer systems. Financial firms are also seeking cyber-security help from Pentagon contractors, according to U.S. officials, security experts and military industry executives interviewed by Reuters.
The FBI has also warned banks of specific threats.
Here's the nub of the article:
While government and private sector security sources are reluctant to discuss specific lines of investigations, they paint worst-case scenarios of hackers ensconcing themselves inside a bank's network to disable trading systems for stocks, bonds and currencies, trigger flash crashes, initiate large transfers of funds or turn off all ATM machines.
It is unclear if hackers have ever been close to producing anything as dire, but the FBI says it has already helped banks avert several major cyber attacks by helping identify network vulnerabilities. ...
Alexander said industry and government were making progress in protecting computer networks, but "tremendous vulnerabilities" remained. The four-star Army general noted companies that have suffered damage from hackers, such as Google Inc, Lockheed Martin Corp and Nasdaq OMX Group, had among the best security systems in the world.
Although investment banks have been in hackers' cross hairs for more than a decade, Reuters notes, "recent attacks have been more sophisticated, coordinated and deliberate."
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