Chinese Military Said To Hack FDIC For Years, Including Computer Of Sheila Bair

Friday, December 23, 2016
By Paul Martin

by Tyler Durden
Dec 23, 2016

While the Russian government in general, and Putin in particular, supposedly has a grudge on US voters and, according to the serious press, orchestrated the hacking of the US elections, China’s interests appear to be focused on America’s money. In the latest such breach, according to Reuters, the FBI is investigating how Chinese military hackers infiltrated computers at the Federal Deposit Insurance Corporation for several years beginning in 2010.

The FDIC, officially the organization backstopping the insurance of US bank deposits, is one of three federal agencies that regulate commercial banks in the United States. It oversees confidential plans for how big banks would handle bankruptcy and has access to records on millions of individual American deposits. In other words, taken to an extreme, the Chinese military may have detailed knowledge of US deposits data; assuming of course there is evidence to back up this particular hack unlike the entertaining, if unvalidated, story of Putin costing Hillary her election.

As part of the hack, the Chinese are said to have gained access to dozens of computers including the workstation for former FDIC Chairwoman Sheila Bair. It is now the target of a probe by a congressional committee.

More from Reuters:

Last month, the banking regulator allowed congressional staff to view internal communications between senior FDIC officials related to the hacking, two people who took part in the review said. In the exchanges, the officials referred to the attacks as having been carried out by Chinese military-sponsored hackers, they said. The staff was not allowed to keep copies of the exchanges, which did not explain why the FDIC officials believe the Chinese military was behind the breach.
It wasn’t just the Chinese:

An annual report by the regulator said there were 159 incidents of unauthorized computer access during fiscal year 2015, according to a redacted copy obtained by Reuters under a Freedom of Information Act request. Rather than major breaches by hackers, however, these incidents included security lapses such as employees copying sensitive data to thumb drives and leaving the agency.

The Rest…HERE

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