World Wide Web Connection for Banks

657 WordsFeb 17, 20183 Pages
Since the beginning of the great age of internet, banks have been increasingly connected through the complex internet web. This has made banks become more reliable, efficient, and more profitable with increased user base. However, it has come with a great price due to unscrupulous people who want to scheme money from the banks. The websites of big banks such as Bank of America, JP Morgan, Wells Fargo, US Bank, PNC, and Citigroup have significantly underwent through slowdowns that have affected many customers seeking services from the mentioned banks. The attackers came after the banks in sequence. These cyber-attacks are commonly carried out through a technique commonly referred to as denial of service attacks. Introduction Big banks have been major victim of denial of service attacks which can be attributed to different hacker groups around the world. Banks generally have the most sophisticated and complex security system. However as seen recently, these firewall systems were able to be defeated by hackers who proved to be more prepared and smart. Background information The denial of service attack was estimated to be 10 to 20 times the normal traffic. This was unprecedented because it surpassed the previous records. The banks said that no data was stolen but rather the websites were slowed down making service delivery very cumbersome to customers. The attacks on the
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