Current Global Hacking of Banks

[Patrick Brown]

OK so we had Wells Fargo in American going off-line the other day and currently Lloyds in the UK is down so what's going on? Is there a spate of high level global hacking going on? Of course the banks never admit to being hacked they just say they're having 'technical difficulties'!

 

Quote

The UK's largest current account provider has reported problems with its online banking service.

Lloyds Banking Group said some customers with Lloyds' accounts faced "intermittent issues" when trying to log onto the online system.

It has apologised and says it is trying to resolve the problem urgently. App services are working normally.

The bank has 10 million account holders, 60% of whom use digital services.

The problems do not affect services from Halifax and Bank of Scotland, which are also part of Lloyds Banking Group.

A number of customers of Lloyds have taken to social media to question what is happening.

 

Source: https://www.bbc.co.uk/news/business-47198710

 

This from the 7th February 

 

Quote

Wells Fargo is experiencing a system outage that is disrupting access to the firm's website, mobile apps, ATMs and debit and credit cards.

Wells Fargo customers took to Twitter Thursday morning to report their frustration about their transactions being declined and being unable to withdraw money from their accounts or check their balances online.

The Wells Fargo Advisors website appears to still be up and running. However, investors are unable to check their brokerage accounts via the Wells Fargo mobile app.

InvestmentNews reached out to Wells Fargo to ask whether advisers' internal systems are similarly impacted and what is causing the system outage.

"Wells Fargo Advisors is aware of the issue and technical teams are working to resolve the issue as quickly as possible," spokeswoman Jackie Knolhoff wrote in an email.

At 9:06 a.m. EST, Wells Fargo tweeted an apology to customers. An hour later, the company followed with a tweet saying, "We're experiencing a systems issue that is causing intermittent outages, and we're working to restore services as soon as possible. We apologize for the inconvenience."

TradePMR, a custodian that recently partnered with Wells Fargo on its growing RIA channel, said connectivity to First Clearing, Wells Fargo's subsidiary for RIA services, is not affected.

"Advisers using TradePMR's technology have not experienced any service issues," said Robb Baldwin, founder and CEO of TradePMR, adding that his platform is completely separate from Wells Fargo Advisor technology. "It is business as usual for our advisers."

Regional news outlet KULR 8 reported that the outage could be tied to a fire at a Wells Fargo server farm in Shoreview, Minn. The Shoreview fire department later clarified on Twitter that the server farm's fire suppression system was triggered by dust from construction.

Ms. Knolhoff said the systems issues were "due to a power shutdown at one of our facilities, initiated after smoke was detected following routine maintenance."

This is the second time in a week the firm experienced a digital disruption. A similar disruption occurred last Friday.

 

Source: https://www.investmentnews.com/article/20190207/FREE/190209966/wells-fargo-system-outage-takes-website-app-atms-offline

 

Edited February 11, 2019 by Patrick Brown

[voidisyinyang]

15 hours ago, Patrick Brown said:

OK so we had Wells Fargo in American going off-line the other day and currently Lloyds in the UK is down so what's going on? Is there a spate of high level global hacking going on? Of course the banks never admit to being hacked they just say they're having 'technical difficulties'!

 

 

This from the 7th February 

 

 

that's some creepy info!

[Patrick Brown]

5 hours ago, voidisyinyang said:

that's some creepy info!

 

I think it goes on a lot more than we're told as banks don't want the pubic to loose confidence in them and withdraw all their money. 

[thelerner]

On 2/11/2019 at 7:58 AM, Patrick Brown said:

 Is there a spate of high level global hacking going on? Of course the banks never admit to being hacked they just say they're having 'technical difficulties'!

 

 

Welcome to the 1980's.  Really.  Hacking at banks is nothing new.  It's been an ongoing billion dollar war with trillions at stake.  These days while things are incredibly interconnected, the problem is known and the army of bank employed hackers outnumber the 'free range' ones.  Or so I've heard. 

 

Also cheap mass storage has helped, in that, if things are hacked, as soon as there's a whiff, systems are taken offline and things are reverted to an earlier copy, then things are sorted out.  Thus most of the time an online system going down due to the bank itself, reverting and cleaning. 

 

It is and will always be a field in flux.  Most bank deposits are insured to $250,000, nothing like having monthly or quarterly paper copies.  In the past, banks were robbed, had 'runs on the money', or corruption and they folded with nobody getting nothing.  So the banking system now is way better and safer then what your great grand fathers on down had.