U.S. Bank of Cyber: An analysis of Cyber Attacks on the U.S. Financial System

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Author

Crimmins, Falk, Fowler, Gravel, Kouremetis, Poremski, Sitarz, Sturgeon, Zhang

Tech report number

CERIAS TR 2014-3

Entry type

article

Abstract

The following paper looks at past cyber attacks on the United States financial industry for analysis on attack patterns by individuals, groups, and nationstates to determine if the industry really is under attack. The paper first defines the terms used, then explains the theory and paradigm of cyber attacks on the U.S. financial industry. Following is a graphical and detailed timeline of known cyber attacks on the U.S. financial industry reaching from 1970 through 2014. Four attack cases are chosen to be researched in summary and four attack cases are chosen to be researched in depth. These cases include: Kalinin & Nasenkov, Mt. Gox, Stock Market Manipulation Scheme, Project Blitzkrieg, Union Dime Savings Bank Embezzlement, National Bank of Chicago Wire Heist, and an attempted Citibank Heist. An analysis then explores attack origination from individuals, groups, and/or nation states as well as type of attacks and any patterns seen. After gathering attacks and creation of a timeline, a taxonomy of attacks is then created from the analysis of attack data. AStrenghts, Weakness, Opportunities, and Threats (S.W.O.T.) analysis is then applied to the case study Heartland Payment Systems.

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Date

2014 – 5 – 11

Key alpha

Liles

Publication Date

2014-05-11

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@Article{ Liles,
	title = "U.S. Bank of Cyber: An analysis of Cyber Attacks on the U.S. Financial System",
	author = "Crimmins, Falk, Fowler, Gravel, Kouremetis, Poremski, Sitarz, Sturgeon, Zhang",
	year = "2014",
	month = "5",
	day = "11",
	abstract = "The following paper looks at past cyber attacks on the United States financial industry for analysis on attack patterns by individuals, groups, and nationstates to determine if the industry really is under attack. The paper first defines the terms used, then explains the theory and paradigm of cyber attacks on the U.S. financial industry. Following is a graphical and detailed timeline of known cyber attacks on the U.S. financial industry reaching from 1970 through 2014. Four attack cases are chosen to be researched in summary and four attack cases are chosen to be researched in depth. These cases include: Kalinin & Nasenkov, Mt. Gox, Stock Market Manipulation Scheme, Project Blitzkrieg, Union Dime Savings Bank Embezzlement, National Bank of Chicago Wire Heist, and an attempted Citibank Heist. An analysis then explores attack origination from individuals, groups, and/or nation states as well as type of attacks and any patterns seen. After gathering attacks and creation of a timeline, a taxonomy of attacks is then created from the analysis of attack data. AStrenghts, Weakness, Opportunities, and Threats (S.W.O.T.) analysis is then applied to the case study Heartland Payment Systems.",
}