Introduction
Obtaining immediate access to a bank account comes with a lot of benefits. Although financial institutions have some of the most sophisticated and mature security controls in all industries, cyber attacks on financial institutions are very recurrent.
According to F5 Labs’ statistics, password login and distributed denial of service (DDoS) have been the most common cyber security attacks on financial sector. Furthermore, the attackers are shifting their focus away from classic software exploits and toward softer targets such as password logins and APIs (which also act as logins).
So, the question isn’t whether or not your company will be attacked, but when. However, you can do the right thing for your company and your customers with careful planning.
Without further ado, let’s go back in time and look at the worst financial cyberattacks in history to learn from past mistakes.