US Cyber Command chief warns of rising cyberattacks on banks

US Cyber Command has observed cyberattacks on Wall Street "grow significantly" and industry predicts these attacks will continue to rise this year, the nation's top cybersecurity chief said at a Senate hearing.

The public websites of several U.S. banks were hit by a spate of denial of service attacks this fall, causing those sites to be inaccessible and unable to load. While these attacks proved to be more of a "nuisance" than a national security threat, the head of U.S. Cyber Command warned that continued attacks on the banking industry could have more serious effects and prevent people from accessing their money. "The issue that we're weighing is, when does a nuisance become a real problem and when are you prepared to step in for that? That's the work the administration is going through now and highlighting that," said Gen. Keith Alexander, the head of U.S. Cyber Command and director of the National Security Agency. "I do see this as a growing problem." In his opening remarks, Senate Armed Services Chairman Carl Levin (D-MI) raised concerns about reports of China hacking into the computer systems of American companies and called for the U.S. and its allies to start "imposing costs and penalties on China for this behavior."