The Office of the Comptroller of the Currency is warning banks to review their risk management programs and take necessary precautions against escalating attacks by fraud-minded hackers.
In an alert issued to national banks and federal savings associations, the regulator is warning of Distributed Denial of Service (DDoS) attacks being used to perpetrate customer account fraud. A DDoS attack seeks to deny Internet access to bank services by bombarding the system with waves of traffic from a network of compromised computers. These attacks can be used to distract bank personnel and divert technical resources while the perpetrators gain unauthorized, remote access to customer accounts and prevent the timely reporting of suspected fraud.
