Why should banks be concerned with DDoS attacks?
Distributed Denial of Service (DDoS) attacks first appeared on the radars of security experts around 1999, when a wave of cyberattacks brought down countless websites, including resources of major corporations, such as CNN, eBay, Amazon, and E-Trade.
Many years later, DDoS attacks have not lost their relevance, on the contrary, DDoS attacks are growing more and more destructive. Financial institutions are increasingly becoming the targets of malicious actors, their financial and commercial losses inflicted by DDoS, lost revenue, customer churn, and hits to reputation, far exceeding operating losses.
DDoS then is a real and pressing threat for banks. But why are DDoS attacks in this industry that much more prevalent?