The Growing Threat of DDoS Attacks on the Financial Sector
DDoS (Distributed Denial of Service) attacks are a growing threat to banks and financial institutions worldwide. In May 2024, several US banks fell victim to such coordinated attacks, causing major service interruptions. These disruptions affected online transactions and mobile banking services, underlining the vulnerability of financial infrastructures to this type of cyberthreat.
1
What is a DDoS attack?
DDoS attacks aim to render a service or network unavailable by overwhelming it with massive Internet traffic.
2
Impact of DDoS attacks on the financial sector
In May 2024, several US banks suffered service interruptions due to coordinated DDoS attacks.
3
Protection against DDoS attacks
The use of advanced firewalls and intrusion detection systems can help identify and block DDoS attacks in real time.