which-us-banks-are-in-trouble-after-microsoft-breach?Which US banks are in trouble after Microsoft breach?
Avatar of Federico Trabucci

By Federico Trabucci

19 Jul 2024, 10:33 AM EDT

A recent security update by the company Crowdstrike has triggered a series of technical problems worldwide, affecting Microsoft systems. These failures have impacted various sectors such as airlines, airports, payment systems, health and media.

Which banks experienced failures after Microsoft collapsed?

  • Problems with VISA, mainly in payments and website operation.
  • TD Bank faces problems in mobile banking (25%) and online banking (19%).
  • Other affected banks include Bank of America, Chase and Wells Fargo.

What happened to Microsoft?

  1. An update to a Crowdstrike cybersecurity component caused numerous failures in Microsoft systems.
  2. Microsoft customers experienced the dreaded “blue screen of death,” preventing their systems from functioning properly.
  3. Crowdstrike has implemented mitigation and recovery measures. CEO George Kurtz said at 9:05 a.m. ET that the bug has been fixed.
  4. Bugs in the update crashed Microsoft’s cloud computing platform Azure, affecting data storage and processing.
  5. Microsoft is restoring functionality to its applications and services and redirecting affected traffic to alternate systems.

What is CrowdStrike?

CrowdStrike is a cybersecurity company that provides advanced protection against digital threats.

The company specializes in threat detection and prevention, as well as in responding to computer security incidents.

George Kurtz clarified that this incident is not a cyber attack or a security issue, but rather an isolated failure.

The company has already implemented a solution and is providing support to customers to update their systems.

By Scribe