The diplomatic standoff between the United States and Russian President Vladimir Putin is hobbling efforts to prosecute cyber crime against American banks.
Russian hackers played a major role in the newly exposed worldwide cyber heist, where thieves learned how to imitate bank employees to withdraw more than $1 billion from 100 banks.
Last August, Russian digital thieves were blamed for the cyber attack on JPMorgan that exposed sensitive data on over 83 million households. Reportedly, the same attack infiltrated up to nine other major banks.
Experts believe much of the hacking occurs either at the behest of Putin’s government, or with its tacit approval. Some speculated the JPMorgan hit was retaliation for the new U.S. sanctions that were slapped on Russia as the country amassed troops on the Ukraine border.
The rift over Ukraine has plunged U.S.-Russia relations to their lowest level since the Cold War, damaging broader U.S. efforts to collect evidence against criminal networks operating abroad.
“I think there is greater suspicion than ever,” said Robert Cattanach, a cybersecurity lawyer and former DOJ prosecutor.
