DDoS attacks enter the terabit era

From Deloitte CIO Journal

Deloitte Global predicts in 2017, Distributed Denial-of-Service (DDoS) attacks, a form of cyberattack, will become larger in scale, harder to mitigate and more frequent. Over the past few years, it has been a game of cat and mouse in which neither side has become too powerful, but this might change in 2017 due to the abundance of insecure IoT devices and the fact that large-scale attacks which exploit IoT devices' vulnerabilities have become simpler to execute.

Why Hide Cyber Skirmishes With Iran?

From Bank Info Security -

Were distributed denial-of-service attacks against major American banks in 2012 waged in retribution for U.S. government actions? A top-secret memo prepared in 2013 for Keith Alexander, who was then director of the National Security Agency, seems to confirm that's the case.

It's long been widely assumed that Iranians waged the DDoS attacks, and that it was retribution for earlier assaults on Iranian IT (see More U.S. Banks Report Online Woes). This memo seems to confirm that and also answers the question of why the Iranians launched those attacks.

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What we are reading … 11th March 2013

New Research Reveals China's Potential for a Mobile Banking Revolution http://dld.bz/cpkWP

Tips & Tools for Breach Investigations - BankInfoSecurity http://dld.bz/cpkWN

Tracking Sensors Invade the Workplace http://on.wsj.com/14vlmEQ

Simplify and Secure Your Passwords http://www.finextra.com/Community/FullBlog.aspx?blogid=7436

New Wave of DDoS Attacks Launched http://dld.bz/cnMmm

Apps Are Creating New Jobs http://on.wsj.com/Z8LxBD

Smells like innovation http://www.mobilepaymentstoday.com/blog/9963/Smells-like-innovation#.UTbYNVn4vZk.twitter

DDoS Attack on Bank Hid $900,000 Cyberheist

“A Christmas Eve cyberattack against the Web site of a regional California financial institution helped to distract bank officials from an online account takeover against one of its clients, netting thieves more than $900,000.

At approximately midday on December 24, 2012, organized cyber crooks began moving money out of corporate accounts belonging to Ascent Builders, a construction firm based in Sacramento, Calif. In short order, the company’s financial institution – San Francisco-based Bank of the West — came under a large distributed denial of service (DDoS) attack, a digital assault which disables a targeted site using a flood of junk traffic from compromised PCs.”

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