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Two thirds of banks hit by distributed denial of service attacks in 2012

Approximately two thirds (64 percent) of IT and IT security practitioners reported to a recent survey that their banks suffered at least one distributed denial of service (DDoS) attack in 2012, according to independent research commissioned by Corero Network Security. The survey of 650 IT and IT security PR professionals at 351 banks also revealed that 78 percent of those surveyed believed that DDoS attacks will continue or significantly increase in 2013, leaving banks vulnerable to cyber attacks that could lead to downtime and compromised data.

Conducted by the Ponemon Institute, the survey found that among the key barriers impacting banks’ ability to deal with DDoS attacks, 50 percent cited insufficient personnel and expertise and a lack of effective security technology as the most serious concerns, followed by insufficient budget resources.

Despite the recognition that the threat of DDoS attacks is not abating, the survey revealed that banks are still predominately relying on previously deployed traditional technology, in particular firewalls (35 percent) to protect their organization from today’s sophisticated attacks.

To download the full report, click here (PDF).

•Date: 24th Jan 2013 • World •Type: Article • Topic: Financial sector BC

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