CYBER THREATS TO BANKS & FINANCIAL SERVICES

CYBER THREATS TO BANKS & FINANCIAL SERVICES
By Craig R. Smith
, Author, Chairman Swiss America

Over the last two decades financial cyber attacks have grown in size, frequency and impact - often targeting banks, financial services, military and government agencies - as well as YOU and me. According to security expert John Watters of iSight Partners, cybercrime already puts more money into criminal pockets than the trade in all illicit drugs.

"Cyber Attacks Are the 'New Normal' for Financial Services Industry," says The Wall Street Journal.

"A concerted cyber-attack could potentially paralyze financial markets. One of the problems with electronic trading is that it is very time dependent," says Ashley Jellyman, head of information assurance for UK telecommunication group BT. "When you press 'Sell now' and nothing happens you have got a problem."

"Attacks on the U.S. financial industry that nobody has ever seen before resulted in 15 of the largest U.S. banks being offline for a total of 249 hours in 2013," reports NBC News.

"How prepared are the financial markets for a cyber attack?" asks TheBanker.com.

Not prepared enough, according to bank researchers.

"A white paper from the Depository Trust and Clearing Corporation, one of the world's largest post-trade services operators, identified cyber attacks as one of the most substantial threats to financial stability ... cyber attacks could have a huge financial and reputational impact, and severely damage market integrity," reports efinancialnews.com

100 million Target customers recently discovered their private credit card information is no longer private.

Citigroup, Wells Fargo, Chase, Bank of America, U.S. Bank, American Express, Chicago Mercantile Exchange, Paypal ... the list of bank and financial services cyber attacks just keeps growing daily - and worst yet - many security breaches may not even have been discovered yet.

FINANCIAL WARFARE: THE NEW BATTLEGROUND

"This is America's new battle space. The doctrine of mutually assured destruction or the notion of taking on our military even after years of prolonged challenges is not something that enemies are even thinking of engaging in anymore. It's all about cyber attacks, attacking the financial and national infrastructure - that's the frontier," reports SiliconAngle.

The London Telegraph reports, "Every minute, of every hour, of every day, a major financial institution is under attack. Attacks are not limited just to theft and can take the form of denial of service assaults on a bank's online operations to prevent customers from accessing their accounts."

"Intelligence leaders said for the first time that cyber attacks and cyber espionage have supplanted terrorism as the top security threat facing the United States," reports Reuters. "The annual economic loss from cyber attacks is in the tens of billions of dollars."

China, Russia and the Middle East dominate the news as the origin of cyber attacks. "A private U.S. computer security company issued a study accusing a secretive Chinese military unit of being behind hacking attacks on a wide range of American industries," says Reuters.

March 28, 2013 American Express' website went offline for hours during a distributed denial of service attack by the Izz ad-Din al-Qassam group. These attacks are part of a larger trend of disruptive and destructive attacks on financial institutions by politically motivated groups.

CNN was the latest in a series of media giants hacked by the Syrian Electronic Army (SEA). CNN's Facebook and Twitter accounts tweeted: "DON'T FORGET: Al Qaeda is Al CIA da. Funded, armed and controlled." SEA has already hacked The Associated Press, The Washington Post, and President Obama's official Twitter account.

In October 2012 the U.S. Secretary of Defense Leon Panetta admitted that "the threat from cyber attacks and a future attack on the country's critical infrastructure could have an effect similar to the Sept. 11 terrorist attacks of 2001," reports Computerworld.

The bottom line is that every single American citizen (that means YOU!), including the President, is vulnerable to this new form of financial warfare. The U.S. Defense Secretary and Homeland Security Director have warned us. The question now is not IF, but WHEN the next attack will occur!

"GAME PLAN" TO CRASH THE DOLLAR EXPOSED!

I have been writing about the increasing threat of economic and cyber warfare in my last three books, The Inflation Deception (2011), The Great Debasement (2012) and The Great Withdrawal (2013).

This year a new book, "Game Plan: How to Protect Yourself from the Coming Cyber-Economic Attack" by Kevin Freeman, provides additional confirmation (from a Defense Department insider) of an international plan (the same plan discussed in detail in my recent books) to bring down the dollar as the world's reserve currency.

Stage 1 occurred 9-11-2001. Islamic terrorists targeted the WTC buildings with the goal of slashing the financial jugular vein of America. The attack successfully closed the U.S. stock, bond and money market trading for six days. Assets frozen!

Stage 2 occurred 9-15-2008. Research now confirms that Arab Sovereign Wealth Funds leveraged their $2B windfall from oil price profits to conduct a $20B "bear raid" on America's major financial institutions such as; Merrill Lynch, Bear Stearns, Fannie Mae, Freddy Mac and ultimately Lehman Brothers - which plunged the U.S. into a housing collapse and deep recession - and which our nation still suffers from today. The economy frozen!

Stage 3 will be a "bear raid" on the U.S. Dollar. It is no secret the Arabs, Russians and Chinese share the goal of replacing the U.S. Dollar as the world's reserve currency. Their ultimate goal is to introduce a new gold-backed Russian Ruble and Chinese Yuan/ Renminbi during the next U.S. or global panic. The dollar frozen!

The coming bear raid on the U.S. Dollar could take many forms; including a staged cyber-attack on the five major U.S. banks, closing down bank account access, another "flash crash" on Wall Street, or targeting America's power grid or water supplies. Our vulnerability to a major cyber-attack keeps grows daily.

Our enemies' goal is to create a major financial PANIC that would discredit the U.S. and our already 98% debased dollar. Their goal is for American citizens and foreign trading partners to begin shunning the U.S. Dollar all at once in favor of a new currency with a more trustworthy store of value and gold backing.

A cyber attack on the U.S. Dollar could happen at any time - without notice. Therefore, holding significant wealth in stocks, bonds and banks has never been riskier.

In my books we outline specific steps that could be taken immediately to minimize the impact of a major cyber attack, such as: asset diversification outside of dollars, halting the Fed's rampant dollar creation, cutting back regulations on the free marketplace, rediscovering from American history the core values and spiritual foundation that made our nation great.

Today we are living on borrowed time and money. Make sure you are not caught by surprise the day the dollar dies! Instead, insure that your wealth survives and thrives - safely stored in the only form of money our Founders ever mandated for public or private use: Gold & Silver!

Regardless of your economic status, I recommend placing a portion of your savings, retirement funds, IRAs, and 401(k)s in gold and silver. The more declining dollars you own, the more you should be positioned in gold. Today's economic house of cards, built solely on paper and flickering computer electrons, will collapse. Those holding physical gold have true, timeless money.

Through wars, famines, depressions, recessions, cyber attacks, inflations, and market bubbles, gold remains the safest haven in a world dependent for its survival on debt and dollars conjured out of thin air.

MY GIFT: "THE TIMELESS TRUTH ABOUT MONEY"

The next major financial crisis, or dollar crash, will blindside most Americans. But NOT you, IF you invest a little time to prepare now.

On this new 30-minute DVD, "The Timeless Truth About Money," bestselling author and businessman Wayne Allyn Root explains how to protect yourself from the next economic crisis by discovering seven timeless truths about money.


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