“Worryingly, as of right now (Tuesday afternoon local time), their website (www.bde.es) remains offline despite the attack having started on Sunday. Whether this is as a result of an ongoing attack, recovering from any resulting damage or as a precaution pending a forensic investigation is not clear.
“The recent guidance from the Bank of England (BoE) requires banks to have the cyber-resilience to “resist and recover” with a heavy emphasis on “resist”. The BoE guidance is a modern take on the old adage that “prevention is better than cure”. Whatever protection the Bank of Spain had in place to resist a DoS attack has clearly proven to be insufficient to prevent this outage.
“Corero continues to recommend that banks and other financial institutions invest in real-time protection that can detect and instantly mitigate attacks before they compromise systems and impact customer service.”
“DDoS attacks can be easily hired on the Dark Web for very small dollar amounts, while payment in crypto-currencies make them virtually uninvestigatable. Anyone can be behind it, from a disgruntled employee, unhappy customer or even a DDoS-for-hire service making this type of “ad” on a live website simply to demonstrate their capacities. By definition, a DDoS attack cannot compromise any systems or sensitive data, therefore customers should not worry. However, frequently DDoS attacks are used as a distracting maneuver for IT security teams, while cybercriminals are exfiltrating data from the company. Thus the incident should be mutinously investigated.”
ISBuzz Team embodies the collaborative efforts of the dedicated staff at Information Security Buzz, converging a wide range of skills and viewpoints to present a unified, engaging voice in the information security realm. This entity isn't tied to a single individual; instead, it's a dynamic embodiment of a team diligently working behind the scenes to keep you updated and secure. When you read a post from ISBuzz Team, you're receiving the most relevant and actionable insights, curated and crafted by professionals tuned in to the pulse of the cybersecurity world. ISBuzz Team - your reliable compass in the fast-evolving landscape of information security
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.