DDoS Attacks Against the Financial Sector Analysis

This technical report examines the increasing threat of distributed denial-of-service (DDoS) attacks targeting the financial services sector. It outlines the evolving nature of these attacks, which have transitioned from simple traffic floods to sophisticated, multi-dimensional strategies that exploit vulnerabilities in cybersecurity. The report details the current DDoS threat landscape, highlighting the rise of volumetric and application layer attacks, with a significant increase in application layer attacks against APIs and web applications. It introduces a DDoS Maturity Model designed to help financial firms assess their capabilities in relation to these threats. The report also discusses the geopolitical influences affecting DDoS activities, noting the involvement of state-sponsored actors and hacktivist groups. Furthermore, it emphasizes the necessity for financial institutions to adopt proactive measures for DDoS mitigation, as the risks to operational stability and reputation continue to grow. The data presented is sourced from Akamai and FS-ISAC members, providing a comprehensive view of the DDoS threat landscape as it pertains to the financial sector.