Financial services firms have increasingly become targets for ransom DDoS attacks in recent years, with more than 100 companies falling victim to these cyber threats in 2020 alone.
Financial services firms are targeted in ransom DDoS attacks because they hold valuable customer data and financial information that hackers seek to exploit for monetary gain.
Ransom DDoS attacks can have severe consequences for financial institutions, including downtime, financial loss, reputational damage, and regulatory fines.
Financial services firms can protect themselves against ransom DDoS attacks by investing in robust cybersecurity measures, implementing multi-factor authentication, conducting regular security audits, and creating incident response plans.
Ransom DDoS attacks have become increasingly common in the financial services industry, with a rising number of incidents reported each year.
The motivations behind ransom DDoS attacks targeting financial firms are typically financial gain, reputational damage, and disruption of services.
Ransom DDoS attacks can lead to disruptions in services, loss of access to online banking platforms, and potential exposure of sensitive customer information.
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Over 100 Financial Services Firms Hit by Ransom DDoS Attacks in 2020.