Tuesday, June 18, 2024

New Report Finds Increase in DDOS Attacks Targeting the Financial Services Industry

The continual change of DDoS demonstrates how this is far from over.

“Working with our sector’s critical providers like Akamai, who have first-hand knowledge of how DDoS is affecting the financial sector, enables us to arm our members with the understanding and guidance they need to better protect their firms and customers,” said Teresa Walsh, Global Head of Intelligence at FS-ISAC.

The report, titled, The Evolution of DDoS: Return of the Hacktivists, notes that 2022 saw a 22 percent uptick in the volume of DDoS attacks targeting financial firms. This is especially true across Europe, where the attacks increased by 73 percent, and where financial services were the target of 50 percent of all DDoS assaults.

“Though DDoS attacks have been around for some time, we are seeing that they are evolving in new, innovative and aggressive ways,” said Steve Winterfeld, Advisory CISO at Akamai. “We teamed up with FS-ISAC to produce The Evolution of DDoS: Return of the Hacktivists in an effort to better educate the financial community about the threats of DDoS and to offer some threat trends and best practices for the sector to better combat these attacks.”

View the full report here.