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.
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.