File photo – The Federal Deposit Insurance Corp (FDIC) logo is seen at the FDIC headquarters in Washington, Feb. 23, 2011. (REUTERS/Jason Reed)
If we’ve learned anything in the last few months is seemingly no entity is safe from hackers. From banks to the ballot boxes (or rather, the voter registration systems), the presence of high security breaches are on the rise. And now, the FBI is investigating how hackers managed to make their way into the computers of the Federal Deposit Insurance Corporation (FDIC). Unfortunately, this is not a new case — it’s been on since at least 2010.
According to a new Reuters report, FDIC officials believe that the hack was sponsored by the Chinese army. The battle resulted in dozens of computers from being compromised, including one used by former FDIC Chairman Sheila Bair. Given the fact that the FDIC is one of the most important federal agencies to supervision of the commercial banks in the U.S. and as such, guards information about millions of Americans’ deposits, to say that her data is extremely important would be something of an understatement. The Corporation handles confidential plans about how the big banks would be bankrupt.
According to Reuters, the FBI has now been involved in the probe investigating the offence, although it is not clear how long the investigation is ongoing. Also current seem to be of cyber attacks on the regulatory authority. In fact, the FDIC has reported no less than seven cybersecurity incidents are considered as “large” between 2015 and 2016. And according to the annual report of the FDIC, there were 159 incidents of unauthorized access to computers during fiscal year 2015.
FDIC spokeswoman Barbara Hagenbaugh noted, “We continue to take steps to improve our cybersecurity program,” and further claimed that the tightening of information security standards. For example, the bank regulator, thumb drives, and is said to be coordinating more closely with the Department of Homeland Security to this to prevent offences in the future.
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As for China’s response to his alleged involvement in the attacks, the Chinese Foreign Ministry spokeswoman Hua Chunying said: “If you have no definitive proof, it is very difficult for you to judge where the attacks really come from.”