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    Quarter of Banks Worldwide Affected by DDoS Cyberattacks in 2016 - Kaspersky

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    Over one in four banks around the world came under distributed denial-of-service (DDoS) attacks in 2016, with the cost of damage amounting to over $1 billion, Russia-based global cybersecurity firm Kaspersky Lab said Wednesday.

    MOSCOW (Sputnik) — Kaspersky's findings are based on a study examining financial cyberthreats among 800 financial institutions from 15 countries, including Russia.

    "According to the results of the study on cyberthreats… banks are most likely to face DDoS attacks: in 2016, one in four [banks] (26%) recorded such incidents… The study showed that the average damage from the DDoS attacks on banks amounted to $1,172 million and $0,952 million on enterprises in other sectors," Kaspersky said.

    According to the study, disruptions in the operation of public web services lasted from several hours to several days in 52 percent of attack cases. In at least 43 percent of cases, DDoS attacks were used to carry out other malicious operations.

    A DDoS attack is an attempt at making an online service unavailable by overwhelming it with traffic from multiple sources.

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    Tags:
    DDoS attacks, cyberattack, banks, Kaspersky Lab, Russia
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