Wells Fargo & Co. (NYSE: WFC) joins J.P. Morgan Chase & Co. (NYSE: JPM) and Bank of America Corp. (NYSE: BAC) as its major consumer customer site apparently was hacked and service completely disrupted. All of these attacks have caused a concern that deposits eventually would be at risk. Whether that will be damaging to electronic payments and e-commerce is too early to say. But the problem is at least a possibility.
Wells Fargo’s problems came the same day that an unidentified person on the Internet called on “cyberspace workers” to attack the bank’s site. In a posting on pastebin.com, the person also warned of attacks later this week against U.S. Bancorp and PNC Financial Services Group Inc.
Douglas A. McIntyre