The arrest of 10 individuals allegedly tied to a global phishing scheme that exploited Facebook is good news. But experts say banking institutions need to push stronger security and authentication to protect accounts.
Hacktivists announced Dec. 18 that they planned yet another round of distributed-denial-of-service attacks against five U.S. banks. Wells Fargo confirmed its online banking site experienced outages throughout the day.
A day after Izz ad-Din al-Qassam Cyber Fighters announced plans for a second wave of DDoS attacks, SunTrust, Bank of America and PNC experienced intermittent site issues, and U.S. Bank acknowledged the new threat.
South Carolina's Revenue Department went nearly a year without a chief information security officer before its tax system was hacked this summer. The agency's chief says the state couldn't find a qualified candidate for the job that pays $100,000 a year.
When it comes to fighting DDoS attacks, institutions must understand the threats against them, says Bill Wansley of Booz Allen Hamilton. Varying attack vectors require different modes of detection and prevention.
A denial of service attack may pose less immediate risk than a data breach - but it's trickier to respond to, says attorney Ronald Raether. What tips does he offer to organizations targeted by DDoS attacks?
Online attacks aimed at major U.S. banks have helped to heighten industry cooperation and information sharing. But experts say not all attacks are equal, and understanding the motivation behind the attack is key.
The FS-ISAC's decision to increase the U.S. banking industry's cyberthreat level from "elevated" to "high" is way overdue, Aite's Julie McNelley and other experts say. Here's how banking institutions should enhance security.