Expert says attacks on electronic banking are hard to stop

By Frank Gerace 12:31am, October 11, 2012
A veteran observer weighs in on recent disruptions in electronic banking in the US, including some here in Delaware.

Arnaud de Borchgrave with United Press International tells WDEL News he got some discouraging news from JP Morgan Chase CEO Jamie Dimon--cyber-attackers are hard to stop.

He says, "There are literally thousands of attacks every day--of course, he wouldn't go into how many are successful. Financial institutions are spending a fortune to defend themselves against these attacks, but you have millions of things going around the world today, trying to find penetration in one major institution or another."

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de Borchgrave says it's impossible to go back to doing things the "old-fashioned" way, abandoning electronic banking, because non-electronic options are disappearing.

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