A lot of big banks are under cyber attacks. Wells Fargo is one of the companies that have been hit by cyber attacks this year. Wells Fargo was hit twice within a two week period. It knocked down their servers so that their website was inaccessible to all customers. One of the major problems in the United States is identity theft. Identity theft is when someone steals personal information from banking customers so that they can make fraudulent purchases using the customers stolen identity. Credit card fraud is the most common form of identity theft. This can cause negative items on your credit report along with a lowered credit score. Skimming is one way credit card information is stolen. This is when a special machine is used to steal the personal information on the magnetic strip of the credit card. Phishing is another scam involving banks. Phishing is when a scammer sends an e-mail to a user claiming to be from your bank stating that you are locked out of your account. In the email will be a fraudulent link to your bank account log in. The email is set up only to steal the user's log-in information. The Cyber Intelligence Sharing and Protection Act is a new act that gives the federal government a better way to help banks and other businesses to better protect themselves against cyber attacks. Businesses can protect themselves by encrypting their data, making it harder for cyber hackers to get the company's information. Another way is a using password