Nothing quite as disquieting as have the Feds show up on your doorstep with bad news. I once had the grave displeasure of working with a company that had the Secret Service come knocking. Apparently our affiliate company had been badly breached by a nefarious third party. They had come to tell us about malicious software that was installed on our servers. It was embarrassing in that the affected subsidiary did not proper monitoring in place and no one was doing even cursory log reviews. We had our posteriors handed to us and all we could do was sheepishly say thanks for the save. After the feds had departed, the CISO in that case had a brief examination of the affected systems done and “informed the business unit” and let it drop.
I can safely assume that there is a greater level of scrutiny being applied in the JPMorgan probe. I can well imagine the collective knot in the stomach of the security team at JPMorgan today.
From CBC:
JPMorgan Chase JPM +0.49% & Co is investigating a possible cyberattack and working with law enforcement to determine the scope, company spokeswoman Trish Wexler said.
The announcement comes after the FBI said Wednesday it’s working with the Secret Service on the recently reported cyberattacks against several U.S. financial institutions.
As this is a story that is only just breaking there is a great deal of detail that is missing. When I worked with a similarly affected firm years ago there were no disclosure laws. The CISO in that was more interested in making the issue disappear or redirect the focus to another group than to take the higher ground and do the right thing.
There was never a further examination into the case and for all I know the systems were still impacted by the malicious software. Another organization that I am familiar with had been breached somewhere in the neighbourhood of 100 times over a five year period. But, only for the latest iteration did they make any sort of public announcement. The motivation here was serverly clouded but, the added transparency at last was a good thing for their customers.
jpmorgan-tower
The prime suspects in the JPMorgan case are alleged to be Russian from media reports. Unclear if this is wishful thinking or there is solid evidence to implicate said criminal activity.
On a side note regarding attribution, one of the frustrating things that I find in many report in general was “traced to their IP address” which too often if pointed to as a smoking gun. An IP address is by no means a unique identifier and should not be treated as such. Hope we will learn greater detail once the investigation concludes.
In the case of this investigation apparently the breach resulted in the exfiltration of massive amounts of data earlier this month. I hope that once the investigation concludes that the lessons learned are shared with the wider audience. I’m sure that there are valuable lessons to be shared with defenders to assist other organizations in their efforts to keep out the attackers. Information sharing is a topic that we hear a lot about in principle and I’d love to see more of it in execution.
I know that I’m often barking at cars in this case but, hope springs eternal.
Nothing quite as disquieting as have the Feds show up on your doorstep with bad news. I once had the grave displeasure of working with a company that had the Secret Service come knocking. Apparently our affiliate company had been badly breached by a nefarious third party. They had come to tell us about malicious software that was installed on our servers. It was embarrassing in that the affected subsidiary did not proper monitoring in place and no one was doing even cursory log reviews. We had our posteriors handed to us and all we could do was sheepishly say thanks for the save. After the feds had departed, the CISO in that case had a brief examination of the affected systems done and “informed the business unit” and let it drop.
I can safely assume that there is a greater level of scrutiny being applied in the JPMorgan probe. I can well imagine the collective knot in the stomach of the security team at JPMorgan today.
From CBC:
JPMorgan Chase JPM +0.49% & Co is investigating a possible cyberattack and working with law enforcement to determine the scope, company spokeswoman Trish Wexler said.
The announcement comes after the FBI said Wednesday it’s working with the Secret Service on the recently reported cyberattacks against several U.S. financial institutions.
As this is a story that is only just breaking there is a great deal of detail that is missing. When I worked with a similarly affected firm years ago there were no disclosure laws. The CISO in that was more interested in making the issue disappear or redirect the focus to another group than to take the higher ground and do the right thing.
There was never a further examination into the case and for all I know the systems were still impacted by the malicious software. Another organization that I am familiar with had been breached somewhere in the neighbourhood of 100 times over a five year period. But, only for the latest iteration did they make any sort of public announcement. The motivation here was serverly clouded but, the added transparency at last was a good thing for their customers.
jpmorgan-tower
The prime suspects in the JPMorgan case are alleged to be Russian from media reports. Unclear if this is wishful thinking or there is solid evidence to implicate said criminal activity.
On a side note regarding attribution, one of the frustrating things that I find in many report in general was “traced to their IP address” which too often if pointed to as a smoking gun. An IP address is by no means a unique identifier and should not be treated as such. Hope we will learn greater detail once the investigation concludes.
In the case of this investigation apparently the breach resulted in the exfiltration of massive amounts of data earlier this month. I hope that once the investigation concludes that the lessons learned are shared with the wider audience. I’m sure that there are valuable lessons to be shared with defenders to assist other organizations in their efforts to keep out the attackers. Information sharing is a topic that we hear a lot about in principle and I’d love to see more of it in execution.
I know that I’m often barking at cars in this case but, hope springs eternal.
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