CFO Says Cyber Attacks Against Wells Fargo 'Significant' -Reuters

First Published Friday, 12th October 2012 10:19 pm - © 2012 Dow Jones


Recent denial-of-service attacks on Wells Fargo & Co. (WFC) websites were "pretty significant" said Chief Financial Officer Tim Sloan in a Reuters interview Friday, but they didn't cause customer losses or a major bump in expenses.

Wells and other large banks have in recent weeks been targeted in cyber attacks that have delayed or disrupted services on customer websites.

"I don't want to minimize the potential damage it could cause to the industry," Mr. Sloan said, "But in terms of how the industry performed and how Wells Fargo performed in reaction to the recent efforts we actually performed very well."

"We in the industry just have to appreciate it as a cost of doing business today," he said.

Full story at http://www.nytimes.com/reuters/2012/10/12/business/12reuters-wellsfargo-cyberattacks.html?ref=business

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