This white paper will address the rise of DDoS attacks in the financial services industry specifically and include 10 tips for preparing for a DDoS attack.
Distributed denial-of-service (DDoS) attacks are prevalent and growing, especially in the financial services industry.
According to a Ponemon Institute survey, 64% of banking IT professionals reported a DDoS attack in 2012, and 43% expected attacks to increase in 2013.1 Yet the same survey found that only 30% of respondents said their banks are planning to implement anti-DDoS programs within the next six to 12 months.
Threat actors can create significant havoc with a single DDoS event. A survey by Neustar indicated that more than 80% of financial services firms estimate a loss of $10,000 per hour during a DDoS-related outage. The statistics in this report amplifies the need for financial institutions of any size to develop DDoS preparedness and remediation strategies. Cyberthreat actors don’t discriminate — they target both large and small organizations and exploit weaknesses wherever they can.