It has been reported that the German financial regulator BaFin issued a fresh cyber security warning on Tuesday to the nation’s financial sector due to the war in Ukraine following a recent increase in cyber attacks. BaFin has repeatedly warned about cyber attacks but Tuesday’s security notice marks an escalation of its concerns. BaFin said the recent events had especially taken the form of ‘distributed denial-of-service (DDoS)’ attacks, in which hackers attempt to flood a network with unusually high volumes of data traffic in order to paralyse it. These warnings should be heeded by all banks across Europe as the war in Ukraine continues.
Full story here: https://www.reuters.com/technology/german-regulator-issues-fresh-warning-banks-cyber-attacks-2022-05-31/
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