In recent events across the country, there are many financial institutions experiencing DDoS (Distributed Denial of Service) attacks, which are caused when an excessive amount of traffic hits a server and the server cannot maintain stability with the traffic flow. The servers will then error out and the services will be dropped. Typically, a customer would try to log onto the website but the website would either timeout, or the website wouldn’t load at all. The attacks would normally occur during normal business hours affecting customers from being able to access the online services. All occurrences of interruptions were caused by unknown external sources.
Attackers will also infect a customer’s computer with a virus, and then will attempt to transfer money from their account. Once these transfers are initiated, they will then attempt to create a DDoS against the financial institution, or even the customer. The goal for the attacks is to give the wire transfer time to process and be sent out before it is caught and stopped. The DDoS attack will usually be aimed at disrupting online services, such as online banking, email, and phone systems.
To help mitigate and reduce these types of occurrences from happening again, it is our practice to provide information on steps that you can take to guard against malicious activity and DDoS attacks. These steps include:
- Employ multiple and layered security tools.
- Install and use anti-virus software, and update it as recommended by its supplier.
- Keep operating systems up to date on all recommended patches.
- Limit Internet access for business computers to websites approved for business use and block all other websites.
- Learn and educate your employees on anti-phishing measures.
- Validate your business practices associated with wire transfers, including dual approvers for all wire or ACH transfers.
- The key to dual approvers is ensuring they access and approve from different machines.
- Take advantage of “Online Security Tips & Alerts” posted on our website.
We understand that the unpredictable nature of these external acts creates a high level of concern about the availability of services and the inconvenience for your banking needs. Information below will provide you with helpful hints on how to avoid becoming an online fraud victim.