Bank of America Corp (BAC) Wasn’t Attacked or Hacked — and That’s a Fact

Page 1 of 2

Last week was a scary one for the web, as big news companies like the The New York Times Company (NYSE:NYT)The Washington Post Company (NYSE:WPO) and The Wall Street Journal reported their sites being breached by Chinese hackers. So when the Bank of America Corp (NYSE:BAC) website went down last Friday, nerves were already raw. Happily, though, the problem rested with the big bank itself, whose online and mobile banking apps — and even their telephone service — suffered an outage of approximately 10 hours.

Bank of America Corp (NYSE:BAC)Whew. After terrorists disrupted cyber service at big banks such as JPMorgan Chase & Co. (NYSE:JPM)Wells Fargo & Company (NYSE:WFC)Citigroup Inc. (NYSE:C), and U.S. Bancorp (NYSE:USB) last fall, you would think that everyone, particularly the bank’s customers, would be relieved that it was only a wonky technical issue.

It seemed, however, that this was one outage too many for those who bank with the big guy, and a chorus of customer complaints and analysts criticisms ensued. They’ve got a point: B of A seems to have more numerous and long-lasting outages than other banks, and it’s getting on customers’ nerves. So much so, in fact, that it may be putting the bank’s newly minted customer-service facelift in jeopardy.

An ongoing problem
Excluding bona fide hacking incidents, B of A has a long history of website blackouts, so it’s not surprising that anger is beginning to swell. I did a little digging and came up with some very disturbing numbers for online problems at Bank of America from SiteDown.co.

Scrolling through various websites shows that big banks have boatloads of issues when it comes to web availability for their customers. Wells Fargo has over 3,300 reports of site outages, JPMorgan’s Chase site registers nearly 2,100, and Citi has an excess of 1,500 complaints. And Bank of America? A stunning 9,400 outage reports. Is this any way to run an upwardly mobile banking business? Even keeping in mind that these are voluntary, often anonymous reports over time, there is very clearly something wrong with B of A’s system, and it’s definitely not getting any better.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!