Establishing Digital Trust: Don't Sacrifice Security for Convenience
According to the results of a recent study [PDF file] commissioned by Corero Network Security and conducted by the Ponemon Institute, 64 percent of 650 IT and IT security practitioners surveyed said their banks had been hit by at least one DDoS attack in the last 12 months, and 48 percent said their banks had suffered multiple DDoS attacks in the last 12 months.
"Of those surveyed, 78 percent believed that DDoS attacks will continue or significantly increase in the coming year, leaving them vulnerable to cyber attacks that could lead to downtime and compromised data," notes The Financial Times' Paul Taylor.
"It really comes as no surprise that DDoS attacks are one of the most severe security risks cited by the banking industry and these results clearly demonstrate the level to which they are being targeted on a continued basis," Dr. Larry Ponemon, chairman and founder of the Ponemon Institute, said in a statement. "When such an attack occurs, the time and efforts of IT staff are devoted to dealing with the problem instead of managing other IT operational and security priorities. This leaves financial institutions open to more dangerous attacks that further compromise their infrastructure."
"Traditional firewalls and on-premise anti-DDoS technologies were deemed to be the most popular technologies to prevent and detect these attacks," SC Magazine reports. "These are followed by intrusion detection and prevention and anti-virus technologies. However, only 30 percent of respondents were planning to purchase an anti-DDoS technology in the next six to 12 months."