September 17, 2024 at 06:34AM
Financial services organizations have suffered the highest number of DDoS attacks, nearly 3,000 in the first half of this year. The rise is attributed to factors like increased overall DDoS activity, surge in hacktivist actions, and emerging threats to APIs. The attacks have been extensive and politically motivated, particularly in relation to global conflicts. APIs and lack of visibility into their ecosystem present vulnerabilities for financial institutions.
Based on the meeting notes, the financial services sector has been heavily targeted by distributed denial of service (DDoS) attacks, experiencing nearly 3,000 events in the first half of the year. These attacks have been driven by hacktivist activity, which has surged in correlation with geopolitical conflicts. Attacks against financial institutions have caused more harm and panic compared to other industries due to their central role in society. Furthermore, the widespread adoption of open APIs as a result of the Payment Services Directive 2 (PSD2) in the EU has created additional vulnerabilities for these organizations, making them more susceptible to sophisticated DDoS attacks. It is recommended that financial institutions perform API discovery to enhance visibility and better secure their systems against potential infiltration.