The good news is: U.S. banks have learned valuable security lessons from defending against recent distributed-denial-of-service attacks. The bad news? DDoS has evolved into new and improved assaults.
Senior leaders in business and government are buying in to the need for more cybersecurity investments as well as threat-intelligence sharing, new research shows. But why are they still struggling to hire the right security pros?
Sharing information about cyber-attacks is making a difference in the banking sector, helping bring criminals to justice and curbing fraud losses. Other sectors should learn from banking's example.
Each quarter Prolexic publishes a wide variety of metrics gathered from distributed-denial-of-service (DDoS) attacks against its global client base, which includes over 100 financial services firms. This quarter showed a significant shift in tactics as DDoS perpetrators used more reflection attacks, which increased...
Fraudsters are using DDoS to distract banks during account takeover attempts, says fraud prevention expert Avivah Litan, who highlights DDoS trends to watch in 2014 and reviews how attack techniques have evolved in the last year.
Face-to-face and over-the-phone social-engineering schemes are increasingly used to perpetrate fraud, highlighting the need for more education and real-time transaction monitoring, says Gartner's Avivah Litan.
Despite the recent lull in al-Qassam Cyber Fighters' DDoS attacks against U.S. banks, the ABA's Doug Johnson and FS-ISAC's Bill Nelson warn banks to avoid complacency, noting that DDoS attacks pose an ongoing threat.
Communication is key in the wake of a cyber-attack, says Dennis Simmons of SWACHA, who explains how simulated attack drills will help banks overcome their information sharing challenges.
Attacks waged for cyber-espionage, fraud, DDoS and other nefarious deeds are increasingly being hired out to sophisticated hackers for specific purposes, says Symantec researcher Kevin Haley.
More than 1,000 banks will test their incident response strategies by participating in a simulated cyber-attack exercise. SWACHA's Dennis Simmons says the drill, which is open to more participants, will help bolster defenses.
On the one-year anniversary of al-Qassam Cyber Fighters' first announcement about DDoS attacks against U.S. banks, experts discuss what may happen next, including whether the group will join forces with the Syrian Electronic Army.
Banks have a critical role to play in helping other industries with DDoS mitigation, as DDoS targets are expected to shift. Attacks against U.S. banks are proving increasingly ineffective because banks have enhanced their defenses.
In the wake of a year of attacks waged against banking institutions by Izz ad-Din al-Qassam Cyber Fighters, the FS-ISAC's Bill Nelson and the ABA's Doug Johnson say the need to regularly update DDoS preparedness is a critical lesson learned.
Financial services companies have been the target of a serious, sustained, and well-funded DDoS campaign for more than a year. What these attacks have demonstrated is that DDoS will continue to be a popular and increasingly complex attack vector. DDoS is no longer simply a network issue, but is increasingly a feature...
OpUSA's planned Sept. 11 DDoS against U.S. banks and governmental agencies proved to be uneventful, experts say. But they warn that other potential attacks, especially those with a Syria connection, could prove to be far more serious.
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