Major Financial Institutions Impacted by Global CrowdStrike Outage
Server Crash Affects Bank Operations and Client Services
Banks scramble to respond to the disruption caused by the prolonged outage.
A significant outage of the cybersecurity firm CrowdStrike on Wednesday, March 8, 2023, has had a major impact on several major financial institutions, disrupting bank operations and client services. The outage, which began early Wednesday morning, has affected banks’ ability to monitor and respond to security threats, as well as their communication systems.
Among the institutions affected by the outage are Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase. These banks have reported disruptions to their online and mobile banking services, as well as delays in processing transactions.
In a statement on its website, Bank of America confirmed that it was experiencing intermittent outages and urged customers to use alternate methods of banking, such as ATMs or in-person visits to banking centers.
Citigroup also acknowledged the impact of the outage on its operations. We are aware of the outage affecting CrowdStrike, the bank said in a statement. We are closely monitoring the situation and working to resolve the issue as quickly as possible. Goldman Sachs and JPMorgan Chase have also reported similar disruptions.
CrowdStrike, a leading provider of cybersecurity solutions, has acknowledged the outage and said that it is working to restore service as quickly as possible. The company has not yet provided a specific timeline for when the outage will be resolved.
The outage has raised concerns about the reliance of financial institutions on third-party cybersecurity providers. Some experts argue that banks need to invest more in their own cybersecurity infrastructure to mitigate the risks of such disruptions.
- A global outage of CrowdStrike has impacted several major financial institutions.
- Banks have reported disruptions to their online and mobile banking services, as well as delays in processing transactions.
- CrowdStrike has acknowledged the outage and is working to restore service.
- The outage has raised concerns about the reliance of financial institutions on third-party cybersecurity providers.
The CrowdStrike outage is a reminder of the importance of cybersecurity for financial institutions. Banks need to have robust cybersecurity measures in place to protect their customers’ data and assets.
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