A cyberattack could be crippling for your finances if you don’t prepare for it.
And, as we reported last week, banks aren’t exactly immune.
The most common form of attack is a denial-of-service attack, or DDoS, which forces websites to temporarily redirect users’ traffic to an alternate website.
It’s the most common way to shut down websites for a period of time, but it can also cause serious damage if you miss out on important payments.
In the past few years, DDoS attacks have hit more than 100 countries, according to a new report from the nonprofit, nonpartisan Information Technology and Innovation Foundation (ITIF).
Some of the largest attacks occurred in Asia, where some of the biggest players were based.
And a number of those countries have been targeted by the U.S. in recent months, including China and Russia.
In a letter to regulators, the ITIF said its findings showed that cybercriminals and malicious actors in China were using DDoS to steal the personal information of more than 1.5 million users.
These attacks have affected a wide range of businesses, including food service providers, retail outlets, and healthcare providers, the group said.
The ITIF report did not name any of the country where the DDoS attack was taking place, but in a statement, it said « there has been a steady stream of cyberattacks targeting U.K. financial institutions, which have been reported in the press and on the internet. »
According to the ITF, the attacks hit a number the U, U.N., and the UG governments.
And these attacks were more widespread than the attacks reported by the financial services sector, which has been plagued by cyberattacks in recent years.
A report by ITIF earlier this month suggested that the attacks were the work of a group called the Dark-Web Cybercrime Army.
The Dark-web Cybercrime Armies operate by sending spam email, downloading malware, or even running ransomware on infected computers.
The group is believed to have been responsible for an attack on the Democratic National Committee and the release of the DNC emails on Wikileaks.
In its letter to U.W. Congress, the Federal Trade Commission noted that the DCCC email breach was the largest in the history of the agency.
The DCCC website was also hacked last year.
The cybersecurity group’s findings come as lawmakers in Congress are working on legislation that would allow banks to be more resilient to cyberattacks, which they argue could help the industry keep up with the attacks.
But the bill has been stalled, and the ITIFA report says that even if the bill passes, banks may not be able to protect themselves against a massive DDoS.
A few months ago, the White House released a cybersecurity report that included the following:In the ITFI letter, the bank noted that « many banks are facing an unprecedented number of cyber attacks. »
In a statement to Ars, the UBS Group said that it « is working closely with our banking partners to help protect against DDoS. »UBS said that the company « has invested in cyber security technology and is actively engaged with all stakeholders to improve the resilience of its financial services operations.
We will continue to work closely with the financial industry to ensure that all of our customers’ financial information is protected. »
The ITIFF said the DCCA is a group of « professional hackers » who are « actively trying to steal customers’ private data. »
ITIF warned that the group has « already targeted the UGB, UBS, and other European banks. »