By Tracy Kitten
Bank Info Security
November 15, 2010
The ATM and online banking outage that allegedly struck several of the
nation's top financial institutions, including 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, over the
weekend of Nov. 6, may have been more hype than reality.
Tara Burke, a spokeswoman for BofA, the country's largest bank, with
$2.36 trillion in assets, says none of the bank's systems were affected
by malware, as was suggested as a possible reason for the outage, and
that only "very minor systems issues" adversely affected deposits and
withdrawals for a few customers.
Charlie Lai, chief information officer of Fairwinds Credit Union, a $1.5
billion institution serving central Florida, calls reports of the
massive ATM and online outage "ridiculous." "Nothing happened here," he
says. "This is complete fiction, and I'm trying to figure out where it
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