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Recently by Rich Bolstridge
The joint statement issued in early April by the FFIEC should come as no surprise to the banking and finance community in the U.S. Beginning in 2012 and continuing throughout most of 2013, banks suffered massive DDoS attacks, with dozens of banks attacked during 2013, and up to 50 banks attacked in a single week. A response from regulators such as this is part of the ongoing evolution of DDoS
2013 was an absolute nightmare for many US banks, as they were targeted with massive DDoS attacks by the QCF as part of their Operation Ababil attacks. At Akamai we observed up to 20 banks being attacked in some weeks in 2013, and Akamai successfully protected our banking customers from these large attacks.
Overall, we can look back on 2013 and feel very good about the results for the industry as a whole. Earlier in the year I recall a survey stating that over 40% of bankers expected another financial crisis in the near future. Thankfully that didn't happen. Other good news for 2013: no European country defaulted; the Euro held together; home prices in the U.S. are up; the S&P 500 went
A DDoS attack targeted at one web site is bad enough. But what happens when that single attack poses the distinct possibility of doing even more damage than originally intended. The kind of collateral damage I'm talking about is very real when you take into account IT architectures reliant on shared services. Shared services include anything that serves more than one application or set of users, for example:- Network infrastructure- Network bandwidth- Market
We're at that time of year again when we sharpen our pencils and write down all the things we want to accomplish during the next12 months. Don't worry; I'm not going to bore you with my personal New Year's Resolutions. Instead, I'll share some quick thoughts on what I believe the resolutions should be for the banking industry as it continues to do more and more business on the web.
Earlier this month, Akamai held its second annual Financial Services Security Roundtable in London. The session was hosted by one of our global banking customers, and attended by numerous banks from London and Ireland. The meeting was held under Chatham House Rule, a well-known format in the UK, but not as well known in the U.S. and other regions. Under the Chatham House Rule, participants are free to use the
We have all heard about banking web sites being attacked and taken down by hackers, and a few of us (myself included) have seen our banking sites temporarily wiped off the Internet by attacks. But have you ever seen an actual DDoS attack launched against a bank's web site? Well here is your chance. Next week, Akamai will be demoing its Kona Site Defender web security solutions at the Finovate
I have spent a lot of time investigating and writing about User Experience, especially in the world of mobile banking. The conclusion is simple: users now expect instant performance, both on their desktop, and on their mobile device. So why not give users what they want? Let's give them instant-on mobile banking applications. When I say "mobile banking applications", I mean any native Smartphone application used in the world of
Nearly every day, the financial technology press publishes new, eye-popping statistics on the trends in mobile banking and finance. Here are some of the more telling stats that I have seen recently:By 2015, Forrester predicts that one in five US adults will be using mobile banking.Mobile customers are the new "sweet spot" segment for the banks. They are younger, they are more affluent, and buy more financial products.Source: Forrester Research