Webster Bank and Zions have confirmed online outages that resulted from distributed-denial-of-service attacks. But is the hacktivist group Izz ad-Din al-Qassam behind the attacks?
Leaders at four security technology companies say the recent distributed-denial-of-service attacks against 10 U.S. banks highlight the need for new approaches to preventing and responding to online outages.
On the same day Citi's online and mobile-banking channels went down for undisclosed reasons, Homeland Security Secretary Janet Napolitano said top U.S. banks are "actively under attack."
A self-proclaimed member of the hacktivist group Izz ad-Din al-Qassam Cyber Fighters says Iran is not backing DDoS attacks against leading U.S. banks. What else did he reveal about the DDoS attacks?
DDoS attacks against large organizations shouldn't come as a surprise anymore, says attorney Ronald Raether, who says institutions should be better prepared to communicate the incidents to the public.
Organizations everywhere should be concerned about DDoS attacks. But most are too focused on compliance to pay enough attention to fraud and security fundamentals, says ENISA's John Walker.
As banking institutions await a new wave of DDoS attacks, one security vendor says it foresaw one rare -but effective - element of these attacks as far back as 2006. What can banks expect to see next?
Distributed-denial-of-service attacks on U.S. banking institutions will continue, says Akamai's Mike Smith. And he believes the attackers aren't out just to embarrass the banks, but to commit fraud.
In the wake of recent DDoS attacks against banks, most institutions are missing a prime opportunity to educate their customers about security, says Gregory Nowak of the Information Security Forum.
BITS, the technology division of the Financial Services Roundtable, says DDoS attacks on banking institutions are likely to continue and offers a seven-point strategy for preparation and response.
Employing cloud computing services could help organizations defend against the type of distributed denial of service attacks that have temporarily crippled the online service of major American banks, says NIST's Matthew Scholl.
Top executives must be transparent with their stakeholders when their IT systems get attacked. Otherwise, their enterprises' reputations could be more severely damaged, says IBM Fellow Luba Cherbakov.
HSBC Holdings, a British multinational bank, is the 10th financial institution to suffer online outages as a result of a distributed denial of service attack in recent weeks. What was the impact of the attack?
BB&T Corp. confirms it's been hit by a DDoS attack, making it the ninth U.S. bank to be targeted in five weeks. The online outage at BB&T comes on the heels of the attack that hit Capital One on Oct. 16.
Download the transcript of this interview in PDF format (sponsored by Corero Network Security)
As DDoS attacks on banks continue, institutions can take immediate steps to lessen the impact on customer experience and reduce fraud risks. Jason Malo of CEB TowerGroup offers insight.
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