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Banks must work to mitigate against DDoS attacks, new rule orders

New rule forces banks and financial institutions to take DDoS defense more seriously, and to improve securities so customers are more secure.

Published Sun, Apr 6 2014 6:15 AM CDT   |   Updated Mon, Oct 19 2020 8:15 PM CDT

The Federal Financial Institutions Examination Council (FFIEC) recently released a security notice of required steps that must be followed by banks and financial institutions operating in the United States. All banks under federal government regulation have to beef up security and pay attention to distributed denial of service (DDoS) attacks which plague bank servers.

Banks must work to mitigate against DDoS attacks, new rule orders | TweakTown.com

Specifically, these companies need to try and mitigate DDoS attacks to the best of their ability, to keep subscribers more secure.

"In the latter half of 2012, an increased number of DDoS attacks were launched against financial institutions by politically motivated groups," according to the FFIEC statement. "These DDoS attacks continued periodically and increased in sophistication and intensity. These attacks caused slow website response times, intermittently prevented customers from accessing institutions' public websites, and adversely affected back-office operations."

One-third of phishing attacks are aimed towards financial institutions, which is another shocking revelation for security experts.

NEWS SOURCE:m.cio.com

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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