Fergie's Tech Blog

Federal Reserve E-Banking System Outages

Brian Krebs writes on Security Fix:

A system widely used by U.S. banks to process large volumes of payroll, credit and debit card transactions experienced intermittent outages on Monday and Tuesday, possibly due to some sort of malfunction or communications failure in portions of the Federal Reserve's "automated clearing house" (ACH) network, Security Fix has learned.

Security Fix received an anonymous tip from an individual who claimed to work at a mid-sized bank that experienced trouble transferring ACH files across the Fed's network between 10:00 p.m. ET and 3:00 a.m. ET on Nov. 27 and 28. The source said a Federal Reserve technician reported that the problem was affecting numerous financial institutions across the country on Monday.

posted by Fergie @ 11/28/2006 08:30:00 PM