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Distributed Denial of Service (DDoS) Attacks: 2013 Predictions

During the last third of 2012, 10 major U.S. banks were the targets of powerful distributed-denial-of-service attacks apparently launched by a foreign hacktivist group. Some observers predict there will be many more DDoS attacks against financial institutions in 2013. They say hacktivists, organized crime rings and even nation states will be the perpetrators, working collaboratively in some cases and independently in others Financial fraud expert Avivah Litan, an analyst at Gartner Research, says the attacks will continue because they work, especially for criminals. “There is no reason for the criminals to stop,” Litan says. “They are getting away with them and not getting caught. These gangs will just keep escalating the attacks, up the ante and raise the stakes on the banks. The banks will have to find and implement solutions quickly. There really is no other choice.” DDoS attacks often will be used to disguise nefarious schemes aimed at stealing intellectual property and taking over accounts, especially when the attacks are waged against smaller institutions, regulators and security experts warn. John Walker , a member of ENISA’s security experts group and chair of ISACA’s Security Advisory Group in London, says banks won’t be able to fend off all of the attacks that are coming in the new year. “What we are seeing this year is just a tip in the ocean of what is planned for 2013,” he says. To prepare for continuing DDoS attacks, banking institutions should implement incident response strategies and involve staff across multiple lines of business, as well as external partners, regulators and experts say. Banks also should consider due diligence reviews of service providers, including Internet service providers and Web-hosting companies, to ensure they, too, have taken necessary steps to identify and mitigate risks associated with DDoS attacks. PNC, Others Take Hits Since September, the hacktivist group Iz ad-Din al-Qassam Cyber Fighters has grabbed headlines for two DDoS campaigns against banks. But so far, there’s been no evidence of fraud linked to these attacks. The hacktivist group announced Dec. 25 that yet another wave of attacks was coming as part of its second campaign In the latest development, PNC Financial Services, whose customers have suffered sporadic online access issues related to high volumes of traffic during both of the DDoS campaigns, reported it experienced minor site access issues late Dec. 27. But it did not link those issues to traffic connected with a DDoS attack. PNC spokeswoman Amy Vargo says some customers reported having trouble when trying to access the bank’s site during the afternoon of Dec. 27, but “this was a very short term and intermittent issue, and the systems were quickly restored to normal.” In a Dec. 10 post on Pastebin , Iz ad-Din al-Qassam Cyber Fighters announced plans for its second campaign, targeting PNC, U.S. Bancorp, Bank of America, JPMorgan Chase and SunTrust Banks. Since then, the group has posted two subsequent threats and has apparently hit all five targeted institutions as well as Wells Fargo and Citibank, part of Citigroup The hacktivist group says its waging the attacks in protest of a YouTube video deemed offensive to Muslims. The first campaign of attacks, which ran from mid-September to mid-October, targeted all of the institutions hit in the second campaign, as well as Regions Bank, HSBC Holdings and Capital One. Warning to Banks Some security experts, however, are questioning whether Pastebin posts being attributed to Izz ad-Din al-Qassam Cyber Fighters actually came from that group. Anyone could take credit for the posts and the attacks, says Mike Rothman of DDoS prevention provider Securosis. “We’ll likely see lots of folks claiming responsibility for attacks and many doing it to draw attention to their causes,” Rothman says. “Is it really one group or another? Hard to truly tell, and ultimately I don’t think it matters. The attacks will keep happening, sometimes for no apparent reason. Organizations need to be ready, and that doesn’t change, regardless of the adversary.” Smaller banking institutions not targeted by Izz ad-Din al-Qassam Cyber Fighters should guard against a false sense of security, says Bill Nelson , president and CEO of the FS-ISAC. “We saw a year ago that smaller banks and regional banks were being hit [by other DDoS attackers] and many were at a loss about why,” Nelson says. Eventually, investigators confirmed attempts to commit fraud in the background of those attacks. On Dec. 21, the Office of the Comptroller of the Currency issued an alert about the recent wave of DDoS attacks, noting that financial institutions had linked DDoS to fraud and the theft of proprietary information “These attacks by hacktivists are trying to strike terror,” Nelson says. “But cybercriminal groups have been attacking, too, off on their own launching cyberfraud. Rather than striking terror, they’re trying to make it more difficult to detect their fraud, and that’s the worry here.” Year Ahead Securosis’ Rothman says the recent waves of hacktivist attacks have drawn attention to the severity of the DDoS threat. “We have discovered a clear knowledge gap around the denial-of-service attacks in use today and the defenses needed to maintain availability,” Rothman writes in a November paper about DDoS prevention. “There is an all-too-common belief that the defenses that protect against run-of-the-mill network and application attacks will stand up to a DDoS. That’s just not the case.” Rothman says banking institutions of all sizes must start viewing DDoS attacks as instruments for multifaceted attacks. “It’s not news that some of the attackers have been using DDoS attacks to obscure ex-filtration activity,” Rothman says. “They basically work to divert the attention of the security folks with the DDoS while they steal data via other mechanisms.” Rothman says prevention steps recommended by the OCC just reiterate the obvious. “Financial institutions need to have risk management programs, and that would include tactics to mitigate against DDoS attacks as well as leveraging information-sharing networks to keep the flow of information going. If something bad happens, they need to report it and probably disclose it to customers.” Source: http://www.bankinfosecurity.com/ddos-attacks-2013-forecast-a-5396/p-2

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Distributed Denial of Service (DDoS) Attacks: 2013 Predictions

Distributed Denial of Service (DDoS) Attacks on Major Banks Causing Problems for Customers

The websites of major U.S. banks are facing a new round of cyber attacks linked to the same group responsible for similar assaults earlier this year. The latest attacks started last week and have hit Bank of America Corp., SunTrust Banks Inc. (STI), JPMorgan Chase & Co. (JPM), U.S. Bancorp, Wells Fargo & Co. (WFC) and PNC Financial Services Group Inc. (PNC), according to two executives at companies providing security to some of the targeted banks, who asked for anonymity because they weren’t authorized to discuss clients and didn’t want their companies to become targets of computer assaults. PNC was under attack today, the executives said. A group calling itself Izz ad-Din al-Qassam Cyber Fighters announced plans to attack banks in a Dec. 10 statement posted on the website pastebin.com. The same group claimed responsibility for a series of distributed denial-of-service (DDoS) attacks in September and October that flooded bank websites with Internet traffic and caused disruptions and slowdowns for online customers. “The purpose of it is to try to disrupt or stop online banking access,” said Bill Nelson, president of the Financial Services Information Sharing and Analysis Center, which disseminates cyber threat information to the financial services industry. “There are some outages occasionally, but it hasn’t prevented customers from transacting business.” The Izz ad-Din group has said in Internet postings that the cyber attacks are in response to a video uploaded to Google Inc. (GOOG)’s YouTube ridiculing the Prophet Muhammad and offending some Muslims. Multiple Targets The current attacks, which began last week, involve the same tactics used in the earlier assault, harnessing commercial servers to pump traffic at bank websites and attacking applications including security devices such as firewalls or intrusion-detection systems, said Carl Herberger, a vice president at Radware Ltd. (RDWR), a Tel Aviv-based network security provider that is working with some of the banks. While the attackers targeted one bank per day in the previous campaign, they are hitting multiple banks in a single day this time, Herberger said. PNC, in a statement posted on its website, said it’s aware of the potential cyber threat, which could “make it difficult for our customers to log onto online banking.” “Please be assured that PNC’s website is protected by sophisticated encryption strategies that shield customer information and accounts,” the statement reads. “We have no information regarding timing, duration or intensity of this potential threat.” Slow Access Wells Fargo said its website was experiencing an unusually high volume of traffic, creating slow or intermittent access for some customers. “The vast majority of customers are not impacted, but for those who are, we encourage them to access their accounts through our stores, ATMs or by phone as we work to resolve the issue,” according to a statement e-mailed yesterday by Bridget Braxton, a Wells Fargo spokeswoman. Mark T. Pipitone, a Bank of America spokesman, declined to comment, as did Tom Kelly, a spokesman for JPMorgan. The attackers are changing their “signatures,” or techniques, every 7 to 10 minutes, requiring constant monitoring, said Scott Hammack, chief executive officer of Prolexic Technologies, a Hollywood, Florida-based company that provides protection from DDoS attacks. DDoS Attacks Denial-of-service attacks have long been a favored tactic of hacker-activists, and software kits to mount such assaults are available for purchase on the black market, Meaghan Molloy, a senior threat analyst at Mandiant Corp., an Alexandria, Virginia-based information-security firm, said in an e-mail. While the Izz ad-Din al-Qassam Cyber Fighters group said the attacks are in retaliation for the YouTube video, “it’s worth noting” that the Federal Bureau of Investigation last year warned that DDoS attacks were being used to deflect attention from fraudulent wire transfers from compromised bank accounts, Molloy said. Banks targeted in the current attacks are working with Internet-service providers and the U.S. government to share information on the tactics and techniques of the attackers, said Nelson, of the Financial Services Information Sharing and Analysis Center. Source: http://www.bloomberg.com/news/2012-12-20/major-banks-under-renewed-cyber-attack-targeting-websites.html

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Distributed Denial of Service (DDoS) Attacks on Major Banks Causing Problems for Customers

National banking regulator advises on Distributed Denial of Service (DDoS) Attack deluge

The regulator for national banks issued an alert Friday about the apparent uptick in distributed denial-of-service (DDoS) attacks being waged against financial institutions. The note from the Office of the Comptroller of the Currency (OCC), which was addressed to the heads of national banks, federal branches and agencies, technology service providers and other related organizations, described how a recent wave of DDoS attacks are disrupting the availability of some bank websites. The spate seemed to kick off in early fall, and many top banks are still experiencing on-and-off attacks. “Each of these groups had different objectives for conducting these attacks, ranging from garnering public attention to diverting bank resources while simultaneous online attacks were underway and intended to enable fraud or steal proprietary information,” the alert said. The bulletin recommends that banks maintain a “heightened sense of awareness regarding these attacks” and ensure they are prepared to deal with them. That includes appropriating staff and third-party contractors to help thwart the attacks; implementing an incident response plan across various departments; and sharing information among affected organizations. In addition, because often the attacks target banks’ service providers, the OCC suggests that financial institutions review the response capabilities of their ISPs and web-hosting vendors. The alert also encourages banks that are sustaining a DDoS attack to remain in communication with customers, conveying any risks they face, as well as safeguards they can take. The OCC said banks should view their security in terms of risk management. But the alert also reminded institutions that they are obligated to follow the Federal Financial Institutions Examination Council (FFIEC) guidelines, which were updated in 2011 to address corporate account takeovers. Often, DDoS attacks run cover for attackers who are simultaneously logged in to victims’ bank accounts while fraudulently transferring out money from their accounts. Avivah Litan of research firm Gartner said in a blog post Friday that the alert shows the OCC is taking the threat seriously, and this will likely result in increased regulatory enforcement. “Some banks do spend enough on security – but many do not,” she wrote. “This will help ensure that all – and not just some – of the banks regulated by the OCC at least, are putting the requisite resources into defending against DDoS attacks and their attending damage.” Source: http://www.scmagazine.com/national-banking-regulator-advises-on-ddos-deluge/article/273769/

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National banking regulator advises on Distributed Denial of Service (DDoS) Attack deluge

Mobile malware, botnets and attacks on the cloud to rise

ESET has published its annual review of the past year's threat trends and compiled predictions for 2013. According to the new report, the 2013 threatscape will see major growth of mobile malware and i…

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Mobile malware, botnets and attacks on the cloud to rise

Wells Fargo Still Dealing with Distributed Denial of Service (DDoS) Attack

Hacktivists’ phase 2 distributed-denial-of-service attacks against U.S. banks appeared to subside Dec. 19. Only Wells Fargo reported online access issues, but the bank pointed out that outages were limited. A day earlier, the bank reported a more extensive DDoS hit. The hacktivist group Izz ad-Din al-Qassam Cyber Fighters Group on Dec. 18 posted an update on Pastebin , saying targeted banks could expect more distributed-denial-of-service attacks this week, resembling the magnitude of attacks waged against Bank of America, JPMorgan Chase, PNC Financial Services, U.S. Bancorp and SunTrust Bank a week earlier The group, however, did not name its targets in the Dec. 18 posting. But based on outage reports confirmed Dec. 18 and Dec. 19 by Wells Fargo, the bank apparently was one of those that Izz ad-Din al-Qassam has chosen to attack this time around. Wells Fargo spokeswoman Sara Hawkins said some bank customers may have experienced issues accessing their online accounts throughout the day Dec. 19. “We’re not seeing widespread impact, but we do recognize that some customers may have intermittent access to our website,” she said. On Dec. 18, however, Hawkins said the bank was seeing heavier than typical traffic. “We’re seeing an unusually high volume of traffic, which is creating slow or intermittent access to our website for some online customers,” she said. But none of the five banks named as targets in Izz ad-Din al-Qassam’s Dec. 11 announcement of the launch of a phase 2 DDoS campaign reported similar issues. Ten banks were targeted in the first campaign of DDoS attacks, which ran from mid-September until mid-October. Those banks included the five noted above as well as Wells Fargo, Regions Bank, HSBC Holdings, BB&T Corp. and Capital One. Among these, only Wells has reported additional outages allegedly linked to Phase 2. The others confirmed Dec. 19 that their sites remained unaffected. The hacktivist group claims it will continue its attacks on U.S. banks until a YouTube movie trailer, deemed to be offensive to Muslims, is removed. The Financial Services Information Sharing and Analysis Center on Dec. 12 issued an advisory , outlining precautions institutions should take as they prepare for more attacks. The FS-ISCAC notes that hacktivists’ warning that the second phase will be more severe should be heeded. For DDoS protection for your eCommerce site click here . Source: http://www.bankinfosecurity.com/wells-fargo-still-dealing-ddos-a-5370

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Wells Fargo Still Dealing with Distributed Denial of Service (DDoS) Attack

Week in review: Malicious QR codes, Tor-powered botnet, and Mac users hit with SMS fraud

Here's an overview of some of last week's most interesting news, videos and articles: Motives behind IT budget spend and 2013 cloud trends A global survey of 550 CIOs, IT Directors, and senior I…

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Week in review: Malicious QR codes, Tor-powered botnet, and Mac users hit with SMS fraud

4 Banks Respond to Distributed Denial of Service (DDoS) Threats

The day after Izz ad-Din al-Qassam Cyber Fighters announced plans to launch a second wave of distributed-denial-of-service attacks on five U.S. banks, SunTrust suffered intermittent outages and Bank of America and PNC said small numbers of their customers reported having trouble accessing their sites. But it remained unclear whether the problems were the result of an attack. U.S. Bank, which did not suffer any known outages or access issues, did, however, acknowledge that new attacks could be on the way. On Dec. 11, PNC used social media to warn consumers that site outages should be expected, but that account and online-banking credentials would remain secure. And one expert was advising banks to expect the worst, saying Izz ad-Din al-Qassam Cyber Fighters’ second wave of attacks would likely be more fierce than the first. The online-monitoring site websitedown.com reported that about noon ET on Dec. 11, SunTrust Banks website suffered intermittent outages. But SunTrust executives declined to comment on the nature of the outages. BofA spokesman Mark Pipitone said that while BofA’s site suffered no overall outages, an isolated number of online-banking users reported problems accessing the site. “We’re aware of the reports of possible cyberattacks, and we’re monitoring our systems, which are fully operational,” Pipitone said in the early evening of Dec. 11. PNC spokeswoman Amy Vargo said some PNC customers may have experienced intermittent difficulty logging in on their first attempts. “We are aware of the situation and working to restore full access,” she said during the early evening of Dec. 11. “We are focused on minimizing disruption to our customers and will review the cause of this incident once full access is restored.” And U.S. Bank spokesman Tom Joyce told the Minneapolis/St. Paul Business Journal that the bank is “taking all necessary steps” to prepare for more attacks. “It’s important to note that these denial-of-service attacks are designed to slow down banks’ websites and create a nuisance for consumers,” Joyce said. “Customers can be assured that their data and funds are secure.” The hacktivist group Izz ad-Din al-Qassam Cyber Fighters named SunTrust, U.S. Bancorp, JPMorgan Chase, Bank of America and PNC Financial Services Group as targets for its next wave of DDoS attacks. The group, in a Dec. 10 post on Pastebin , announced plans for what it portrays as “Phase 2 Operation Ababil” – a second campaign of attacks waged against leading U.S. banks to protest a YouTube movie trailer deemed offensive to Muslims. All five banks were targets – along with Wells Fargo, Capital One, Regions Bank, BB&T and HSBC – during the first wave of DDoS attacks , which ran from mid-September to mid-October. During that period, each bank’s website suffered intermittent outages of varying degrees. CapOne was the only institution targeted twice in the first wave (see CapOne Takes Second DDoS Hit ). PNC’s Communications Stand Out On Dec. 11, three of the five newly targeted banks were remaining quiet, declining to comment about the threat and steps they were taking, if any, to communicate with consumers about the expectation of more attacks. BofA acknowledged isolated reports from consumers who suffered difficulty logging in. PNC, the only bank to publicly outline details surrounding the DDoS attack it suffered in the first wave, however, immediately took steps to notify the public of the possibility for a second attack. Through Dec. 11 posts on the social-networking sites Facebook and Twitter , PNC forewarned online-banking customers that outages should be expected. “This potential threat could result in high volume of electronic traffic that may make it difficult for our customers to log onto online banking,” the bank stated on its Facebook page and website . “Please be assured that PNC’s website is protected by sophisticated encryption strategies that shield customer information and accounts. We have no information regarding timing, duration or intensity of this potential threat. Please continue to follow our page for additional updates.” Fiercer Attacks Ahead? Why these five banks have been targeted for a second attack is not clear. But John Walker , an independent security professional in London and member of the European Network and Information Security Agency’s security experts team, says banks should expect the new attacks to be more fierce than the first, as the hacktivists promised in their Dec. 10 post. “By showing the game can be taken to ever-increasing levels starts to focus the mind of the victim organizations as to their frailty,” Walker says. “They [the hacktivists] are, I believe, demonstrating their power.” Walker says banks learned valuable lessons during the first wave, which will provide them with tools to better prepare this time around. But they should not be overly confident in their abilities to stave off outages. “This style of attack has not even matured yet, and there is more to come,” he says. “The time has arrived for … more techno-savvy security – and more honesty in the boardroom – as to real-time security exposure before the event, not just after it has impacted the business.” Source: http://www.bankinfosecurity.com/webinars/new-wave-ddos-attacks-how-to-prepare-respond-w-308

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4 Banks Respond to Distributed Denial of Service (DDoS) Threats

Researchers uncover Tor-powered Skynet botnet

Rapid7 researchers have recently unearthed an unusual piece of malware that turned out to be crucial to the formation of an elusive botnet – dubbed Skynet by the researchers – whose existence has been…

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Researchers uncover Tor-powered Skynet botnet

U.K. hacker convicted for taking part in Anonymous attacks

22-year-old Christopher Weatherhead from Northampton, U.K., has been convicted on Thursday on one count of conspiracy to impair the operation of computers for his involvement in the DDoS campaign agai…

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U.K. hacker convicted for taking part in Anonymous attacks