Cyberattacks against accounting software firm Wolters Kluwer and the City of Baltimore in May showed how the newest wave of malicious hacking can have significant, often...Technologyread more
The European parliamentary election is the second largest democratic exercise in the world.Europe Newsread more
Biden had criticized Kim Jong Un as a "dictator" and a "tyrant" at a recent rally in Philadelphia. North Korean state media responded by calling Biden a "fool of low IQ" among...Politicsread more
Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
A number of United States banks, including JPMorgan Chase and at least four others, were struck by hackers in a series of coordinated attacks this month, according to four people familiar with a continuing investigation into the crimes.
The hackers infiltrated the networks of the banks, siphoning off gigabytes of data,including checking and savings account information, in what security experts described as a sophisticated cyber attack.
The motivation and origin of the attacks are not yet clear, according to investigators. The F.B.I. is involved in the investigation, and in the past few weeks a number of security firms have been brought in to conduct forensic studies of the penetrated computer networks.
According to two other people briefed on the matter, hackers infiltrated the computer networks of some banks and stole checking and savings account information from clients. It was not clear whether the attacks were financially motivated, or if they were collecting intelligence as part of an espionage effort.
JPMorgan has not seen any increased fraud levels, one person familiar with the situation said.
"Companies of our size unfortunately experience cyber attacks nearly every day," said Patricia Wexler, a JPMorgan spokeswoman. "We have multiple layers of defense to counteract any threats and constantly monitor fraud levels."
J.Peter Donald, an F.B.I. spokesman in New York, declined to comment, citing the current investigation.
The intrusions were first reported by Bloomberg, which indicated that they were the work of Russian hackers. But security experts and government officials said they had not yet made that conclusion.
Earlier this year, iSight Partners, a security firm in Dallas that provides intelligence on online threats, warned companies that they should be prepared for cyber attacks from Russia in retaliation for Western economic sanctions.
But Adam Meyers, the head of threat intelligence at CrowdStrike, a security firm that works with banks, said that it would be "premature" to suggest the attacks were motivated by sanctions. Mr. Meyers said he could not speak specifically about any of his company's clients.
Russian hackers began a month long online assault on Estonia in 2007 that nearly crippled the Baltic nation, after Estonian government workers moved a Soviet-era war memorial from the Estonian capital.
Still, security experts say that the stealthy nature of the recent attacks suggests that their motivation was not political.
The American banking sector has been a frequent target for hackers over the past few years, with the vast majority of attacks motivated by financial theft.
But not all of them. Over the past two years, banks have been targeted in a series of politically motivated attacks from Iran, in which a group of Iranian hackers flooded United States banking sites with so much online traffic — a method called a distributed denial of service, or DDoS, attack — that the websites slowed or intermittently collapsed under the load.
Hackers who took credit for those attacks said they went after the banks in retaliation for an anti-Islam video that mocked the Prophet Muhammad, and pledged to continue the attacks until the video was removed from the Internet.
American intelligence officials said the group was actually a cover for the Iranian government. Officials claimed Iran was waging the attacks in retaliation for Western economic sanctions and for a series of attacks on its own systems.
More from the New York Times:
Unlike like the attacks traced to Iran, the recent hacks against the American banks were not intended to disrupt the bank's services but appeared to be part of a financial or intelligence-gathering effort, three people briefed on the investigations said.
Mr. Meyers, of CrowdStrike, said hackers could have been after account information,or even intelligence about a potential merger or acquisition. Security experts said the hackers chose to pursue account information, not disruption, which is the earmark of state-sponsored attacks.
Because JPMorgan had not seen any unusual incidences of fraud, however, it was too early to conclude that the attacks were solely financially motivated.
So why were the banks targeted? Security experts said they could not yet determine whether the attacks over the past few weeks were the work of Russians, or whether they were politically motivated. Indeed, Mr. Meyers said, any such conclusions at this point would be the result of what he said was an effort by security firms to be the first to present conclusive evidence.
Banks are also frequent targets for intelligence agencies looking to collect information about their targets. In 2012, Russian security researchers uncovered a computer virus on 2,500 computers, many of them inside major Lebanese banks, including the Bank of Beirut, Blom Bank, Byblos Bank and Credit Libanais. The virus was specifically intended to steal customers' login credentials to their bank accounts.
The researchers believed the computer virus was state-sponsored and said they had found evidence it had been created by the same programmers who created Flame and Stuxnet, two computer viruses that officials have said were unleashed by the United States and Israel to spy on computers inside Iran.