On April 2, 2014 the Federal Financial Institutions Examination Council (FFIEC) released a statement related to Distributed Denial of Service (DDoS) attacks on public facing websites. The statement highlights that DDoS attacks have increased since late 2012 and, in many cases, have been executed by politically motivated groups.
The potential risks of DDoS attacks are primarily operational and reputational risks, however it should be noted that DDoS attacks can be coupled with attempted fraud.
There are a number of steps the FFIEC outlines that institutions should take related to this risk.
For more information on this topic, or to learn how Baker Tilly banking specialists can help, contact our team.