With Rapid Adoption of Broadband Connectivity, Bank’s Online Channels Face Increased Attacks
Distributed Denial of Service (DDoS) attacks have recently seen a spike according to a global annual survey conducted by Arbor Networks, a technology provider focused on enterprise network.
DD0s attacks occur when multiple systems are flooded flood a targeted system, usually one or more servers and when doing so can shut down a service provider’s online channels, preventing customers from accessing them.
Reliance on firewalls, load balancers and other intrusion prevention systems to protect from a service provider’s network are unlikely to offer adequate protection during a sustained DD0S attack as they are easily over-run in a sustained cyber-attack. For example the Monetary Authority of Singapore (MAS) has recognized that banks with its jurisdiction are not adopting enough measures for protection.
Source: The Asian Banker Issue 113 Page 28