DDoS attacks intensify – More than 100 financial services firms Targeted

FS-ISAC announced today that last year more than 100 financial services firms were targets of a wave of Distributed Denial of Service (DDoS) extortion attacks conducted by the same threat actor.

They targeted in methodical fashion across Europe, North America, Latin America, and Asia series of financial services companies: banks, exchanges, card issuers, payments companies, insurance companies, credit bureaus, asset managers, money transfer companies, and payroll companies.

Pay up or say goodbye to your network resources

In each instance, the attacker sent targets an extortion note that threatened to disrupt their websites and services with a DDoS attack if the demanded ransom was not paid.

The wave of attacks FS-ISAC reported this week is consistent with multiple security vendor reports indicating a sharp increase in ransom DDoS attacks last year, particularly in the second half.

The attacks have slowed but the recent boom in cryptocurrencies such as bitcoin, which cyber criminals use to demand payment, could incentivize other attacks.

DDoS attacks are getting more powerful because they are getting more complex, using many different devices, and targeting other parts of the victim’s network, according to Sundaresan of AT&T Cybersecurity.

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