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Two more big financial firms warn of hacking threat

posted onMarch 5, 2013
by l33tdawg

Goldman Sachs and Citigroup have stepped up warnings to shareholders about cyberattacks as the U.S. government has prodded banks and government agencies to bolster defenses.

Online and mobile banking give new points of entry that can be used to disrupt operations, the two New York- based firms said last week in annual regulatory filings. The companies said they’re vulnerable to tactics that overload websites to shut off public access, such as assaults that disrupted the nation’s largest lenders last year.

U.S. banks are speculating that foreign nations, organized crime or terrorists are behind efforts to cripple their websites, warning that costs to keep intruders at bay will rise. President Barack Obama directed the government on Feb. 12 to develop voluntary security standards for companies running vital infrastructure and is pushing Congress to set formal rules.

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