By Tyler Durden
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.
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