By Tracy Kitten
Bank Info Security
November 10, 2010
Malware is likely to blame for the so-called "computer glitch" that over
the weekend took down a handful of the country's largest banks' ATMs and
online banking sites.
The nation's three largest banks and a handful of others were derailed
over the weekend when their ATM and online banking channels were taken
down. All of the institutions affected -- Bank of America, Chase, U.S.
Bank, Wells Fargo, Compass, USAA, Suntrust, Chase, Fairwinds Credit
Union, American Express, BB&T on the East Coast and PNC -- are blaming
the outage on a computer glitch related to the time-zone change.
But Julie McNelley, a senior analyst at Aite Group LLC who covers
banking and payments fraud, says there is likely a great deal more going
on behind the scenes. In fact, she suspects the weekend outage is
related to a widespread malware attack. "It has all the hallmarks of
that, based on the geographic spread of it, the targeted systems and the
banks in question," she says.
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