29 September 2016
Business Intelligence: A Tech Revolution for the Evolution in Compliance

Bank resources stretched by multiple DDoS attacks

23 January 2013  |  6453 views  |  0 Spiders computer virus

More than two-thirds of US banks have suffered at least one Distributed Denial of Service attack in the last twelve months, according to research by the Ponemon Institute.

The study, commissioned by Correro Network Security, of 650 IT and security staff at 351 banks, also revealed that 78% of those surveyed believed that DDoS attacks will continue or significantly increase in 2013.

Almost half of respondents (48%) said their banks had suffered multiple outages from outside assailants in the past 12 months. They stated that along with DDoS attacks, Zero-Day exploits, that expose a previously unknown vulnerability, are considered to be the most severe security threats.

Among the key barriers impacting banks ability to deal with the threat, 50% cited insufficient personnel and expertise and a lack of effective security technology as the most serious concerns, followed by insufficient budget resources.

The findings spotlight the trend for hacktivist groups to proactively target banks, with Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, Capital One and others once again in the firing line since the end of 2012.

Despite the recognition that the threat of DDoS attacks is not abating, the survey revealed that banks are still predominately relying on previously deployed traditional technology, in particular firewalls (35%) to protect their organisation from today's sophisticated attacks.

Marty Meyer, president of Corero, says: "Many Organisations assume traditional firewalls can provide protection against DDoS and Zero-Day exploits at the perimeter, yet this is not what they were designed to do and therefore attacks are still getting through. Organisations need to add 'First Line of Defence' solutions that can provide this protection and are able to remove all of the 'noise' at the perimeter before it hits the network so that firewalls and servers can optimally work on the functions they were originally designed for."

Read the full report:» Download the document now 919.4 kb (PDF File)

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

US banks in the firing line as hackers promise to renew DDoS assault spree

US banks in the firing line as hackers promise to renew DDoS assault spree

17 December 2012  |  6768 views  |  0 comments | 6 tweets | 4 linkedin
Student convicted over Anonymous PayPal attack

Student convicted over Anonymous PayPal attack

06 December 2012  |  7327 views  |  0 comments | 2 tweets | 1 linkedin
PayPal puts £3.5 million price tag on Anonymous attacks

PayPal puts £3.5 million price tag on Anonymous attacks

23 November 2012  |  9884 views  |  0 comments | 14 tweets | 5 linkedin
Man jailed for Hong Kong exchange cyber-attack stunt

Man jailed for Hong Kong exchange cyber-attack stunt

12 November 2012  |  6658 views  |  0 comments | 5 tweets | 3 linkedin
Banks told to step up security over DDoS attacks

Banks told to step up security over DDoS attacks

26 October 2012  |  8272 views  |  1 comments | 10 tweets | 8 linkedin
RBS and NatWest Web services knocked out; Oslo Bors hit by DDoS attack

RBS and NatWest Web services knocked out; Oslo Bors hit by DDoS attack

21 June 2012  |  12991 views  |  3 comments
Bursa Malaysia site hit by DDoS attack

Bursa Malaysia site hit by DDoS attack

14 February 2012  |  6606 views  |  0 comments
WikiLeaks hacktivists take down MasterCard

WikiLeaks hacktivists take down MasterCard

28 June 2011  |  15559 views  |  1 comments
South Korean bank Web sites hit by DDoS attacks

South Korean bank Web sites hit by DDoS attacks

04 March 2011  |  10202 views  |  0 comments
Banks and exchanges among DDoS attack victims

Banks and exchanges among DDoS attack victims

08 July 2009  |  8350 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
Visit colt.netFind out moreVisit www.smartstream-stp.com

Who is commenting?

Top topics

Most viewed Most shared
RBS tests demonstrate ability of Ethereum to support a national domestic payments systemRBS tests demonstrate ability of Ethereum...
14485 views comments | 55 tweets | 48 linkedin
Ripple rudely gatecrashes Sibos partyRipple rudely gatecrashes Sibos party
9666 views comments | 30 tweets | 29 linkedin
Swift beware: Ripple signs banks to global payments steering groupSwift beware: Ripple signs banks to global...
9143 views comments | 33 tweets | 18 linkedin
BNP Paribas is working with clients on blockchain deploymentBNP Paribas is working with clients on blo...
7473 views comments | 14 tweets | 30 linkedin
US gets same day ACHUS gets same day ACH
7014 views comments | 23 tweets | 20 linkedin