News & Comment: Bank of Spain Hit by DDoS Attack

NEWS:

Spain’s central bank says its website was intermittently offline as it struggled to repel a distributed denial-of-service attack. The temporary disruption is a

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COMMENT:

Andrew Lloyd, President, Corero Network Security

“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.”