When you’re looking at the world’s banks, there are two banks with a very distinct style
Bank of America is one of the banks that is the world leader in the world of online banking.
The bank has more than 80 million customers, and it has also been the target of a string of cyberattacks, including one in 2014 which caused the bank’s computer systems to crash.
The bank was also one of several banks that faced pressure in October when a group of hackers called Lizard Squad, which has since been identified as a group linked to the Russian government, released information on the bank.
But while the bank has been hit with a number of cyber attacks in the past, its style has remained the same, with a distinctive design, a sleek new logo and a focus on technology.
As a result, it’s been the focus of a growing number of online users, with many of them turning to the bank to explore the world beyond their home country.
“Banking is a very competitive profession.
It’s a really good-paying job, it requires great technical skills and great creativity,” says John Pincus, who heads online marketing at Baccalaureate College, which is based in San Francisco.
“So the bank really wants to be in front of a whole new generation of people, so it’s really important that people feel comfortable with the bank and understand what it does, how it works, how they can do it, and what the risks are.”
But that’s not to say that the bank is immune from scrutiny.
In February, the New York Times published a report detailing the alleged hacking attempts against the bank, which showed how the hackers had managed to take control of the bank account of one of its executives, a move which the bank denied.
“There was a concerted effort to make sure that Baccai would be vulnerable,” Pincis says.
“In order to do that, the hackers targeted the bank with phishing emails, with emails that were not authentic.
And so they would send fake emails.”
That report highlighted a number attacks by Lizard Squad which had come in response to a series of blog posts by the bank about the cyberattack.
“They were going to make some sort of a point about the bank being hacked, and I said, ‘We’re not a bank that takes these kinds of risks.
We’re not in a position where we can take these kinds [attacks] seriously,'” Pinca says.”
But the people who did it, they didn’t have the ability to do it on their own.
They could just be phishing people, and they could be getting in contact with them through social media.
And they would get them to send back an email that they were trying to access the account, and if they were successful, the bank would respond with a letter.”
Pincus says it’s a common experience for businesses to find themselves at the centre of an attack.
“You have a bunch of people that are really motivated to try to get access to your accounts, to have your information stolen, to try and compromise your infrastructure,” he says.”[But] it’s also just very difficult to prevent the attackers from trying to get their hands on your information and then trying to attack you, because they’re so well organised.”
Baccalaurate College was among those that were targeted by the hackers, and Pincahs team has taken a number steps to help secure the bank: it now has a team of cybersecurity specialists who work with the institution, it is a full-time employee and Pins is a member of the cybersecurity team.
“When you think about what this bank is all about, it has the ability and the responsibility to protect all of the financial institutions that we are in touch with in the country,” he said.
“We have the capability to secure all of our internal systems and internal networks.
We have the capabilities to secure our network, which makes it very hard to attack.”
Pins says he hopes that this will be the start of a new era of trust in banking, but that the security of online accounts will always be the main concern for customers.
“It is absolutely imperative that we secure all these systems and networks, so that our customers can trust us,” he explains.
“So we really need to make it easy for them to do this.”