Bank outages not necessarily fault of hackers

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When a major bank suffers an internet outage, eyebrows immediately rise and palms start to sweat. People jerk to the conclusion that it had to have been a continuation of the advanced persistent attacks (APTs) that swept the industry a few months ago.

Those fears cropped up after the Bank of America outage last week, especially when it became clear that the outage also affected phone line service and mobile services. But in hindsight, it's clear that the cause of the outage was not any sort of hacker attack but rather internal problems.

For those who are concerned about APT attacks from the likes of Iran that banks face these days, this might be cause of mild relief. If you are customer of the bank, however, the net effect was even worse.

As noted by Bits, "those earlier attacks caused online banking sites to hiccup or fall offline for several minutes at a time. The outage at Bank of America lasted for several more than four hours."

Such outages are unfortunate for a bank that continues to suffer a poor reputation in terms of customer service. In fact, CEO Brian Moynihan recently urged employees to do a better job in this area. The bank had the lowest score among national banks in the most recent American Customer Satisfaction Index. To be fair, big banks in general did not fare well, as they lagged thrifts and small banks.

For more:
- here's the article

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