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IT Business Edge: Banking Industry Must Remain On Alert For DDoS Attacks

Posted by Jill Newbury    Dec 13, 2012 5:37:00 PM

In the days after the election, I saw a headline fromThe Onion making the social media rounds that read, “Nation Horrified To Learn About War In Afghanistan While Reading Up On Petraeus Sex Scandal.”

There are three points made in that headline. First, America loves its sex scandals and meaty gossip about people they’ll never actually know — a lot. Second, the media have done a really horrible job covering the war in Afghanistan. Third, we tend to forget about important things if they aren’t making headlines every day. It is the third point that I want to focus on here.

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Thing is, even when the attacks against the banks were initially announced earlier this year, it was still old news, according to Sean Bodmer, chief researcher at CounterTack, who told me:

"Coordinated campaigns targeting financial services organizations are not novel, and have been in play since well before 2010. Banks have been targeted for years, by carders and crimeware operators alike. Almost every black-market forum has a Web-inject that will steal user credentials from top financial services organizations. It’s old news, really. What’s new and most interesting is the mass profit sharing model being trumpeted – it’s very unique at a broad level of operation. Cybercriminal operations and black-market sales have commercially leveraged sales options, such as suggestion/comment forums, service level agreements, an d guaranteed response times. Not to be forgotten are bulk sales discounts of criminal tools, money transfers, product demonstrations, product evaluation periods, and now we’re seeing profit sharing… It would seem that the criminal underground is maturing at a much faster pace than world governments believe."

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