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Former CIA covert operations officer Mike Baker on warnings that Russian hackers may target financial institutions.
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Counts back to you are you talk more thank you out of about this -- Mike Baker and former CIA Covert operations officer now with the young global security firm.
I diligence and he joins us now.
You've been one of the people Mike has been telling us for quite awhile that we need to pay more attention to things like this.
Adams at the end of his report talked about a few of the things the banks.
Can or should do are they doing enough.
Well there are aware of the problem -- -- I'd argue they're not necessarily doing enough.
They are taking the problem more seriously.
We have to remember security traditionally in the commercial sectors but its financial institutions and elsewhere is -- the security operations of the have a company of unity event.
Looked at as a cost in at rather than something that you do proactively.
To try to enhance your reputation to make money that sort of thing so.
They -- are we there are improving their ability to work on this but this a very distinct.
Potential attack that they're talking about that could take place in the spring.
And they added though the Russians that are involved in this that have been running essentially a pilot program.
For a while now in the states.
Made the announcement -- a few months ago back in September.
That they would be mounting this massive campaign against you know over two dozen financial institutions.
In an effort really to draw in additional supporters so what they're saying is we've designed a Trojan software program.
To go out there and attack these institutions steal money.
And we wanna recruit additional hackers will provide the software.
And you provide the additional beatle boots on the ground -- -- work.
So that's more valuable -- -- -- interest and you're right because then say keeping it quiet and having the element of of surprise so the idea that we know.
That it that -- being planned -- we think we know that it's being planned what does that do in terms of preparation.
Well it's it's interesting it does give us some heads up and allows the institutions.
To at least coordinate and that's very important -- they work together.
They have more of an opportunity to identify the problems -- to talk about the weaknesses within their own systems.
As far as the consumer goes and that's really what would you know speaks to the viewers right now it.
You know there's other things they can be doing you don't always and ensure that on your computers.
You've updated your your your your software for security right on the you'll you'll -- occasionally get a pop up window that says you -- you wanna.
You know update -- it's out of date.
You would yes pay attention to that.
As Adam had mentioned pay attention to what your accounts are doing if you suddenly see a transfer to our Romania -- elsewhere in Eastern -- you ought to deal over a little bit worried.
But you know other than that being Smart about the sites -- landing on being Smart about what that that looks like they're paying attention.
Rather than just assuming that every time something pops up on your screen it's -- to click on it you know you've got to take it just like with everything else we've got to take more responsibility for our own security.
It's if you don't know what it is and it's like that with the email should I should be obvious a lot of people again you know you don't recognize -- you shouldn't click on the on the link but obviously a lot of people do and that's why they get drawn into some of of these things what.
Work though.
Just and -- in this this is I don't know how much we can talk about but how does that work for the banks and what should they be doing what they actually do to get ready for this.
How well banks if if prices students have been very sophisticated you measure ninety security.
Programs for the most part but this in this particular.
Attack that we're talking about and it possibly in the spring.
This coming year.
Is also looking to supposedly attack.
Less sophisticated financial institutions so they're not just talking about the big ones the names are all familiar with the talking about credit unions and smaller financial institutions.
That don't have necessarily the IT security resources.
That are available to you -- JPMorgan or or or others.
But what the banks to do typically is today that every every -- -- -- -- seven they're being they're being probed and that's part of of the problem we're facing in terms of cyber crime and economic espionage if the public knew.
How many potential attacks how many probes our systems our infrastructure commercial land you know and and public.
Undergo every day from outside from cost out whether attackers whether it's state sponsored whether it's the Chinese -- others they wouldn't sleep at night.
-- so that the financial institutions are well aware of the dangers in the aggressiveness.
But you know -- always trying to stay one step -- to have -- what they do with Hispanic and yet it's been a great deal of time studying that that the previous attack and thinking about what could -- And start Mike as always Mike Baker thanks a lot.
