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FFIEC Warns on ATM, DDoS Attacks

Posted on 4/3/2014

The Federal Financial Institutions Examination Council agencies yesterday issued warnings to the institutions they supervise about the risks of cyber-attacks on ATMs and card authorization systems, as well as the continued threat of distributed denial of service, or DDoS, attacks. The agencies said they expect institutions to take steps to prepare for and respond to these kind of attacks.

FFIEC noted a recent increase in cash-out fraud via attempts to access small and medium-sized institutions' web-based ATM control panels.

For both kinds of attacks, FFIEC encouraged banks to maintain adequate monitoring, have an effective response plan in place and share information with law enforcement and industry, through the Financial Services Information Sharing and Analysis Center, for example.

To read FFIEC's statement on ATM fraud Visit: https://www.ffiec.gov/press/PDF/FFIEC%20ATM%20Cash-Out%20Statement.pdf

To read FFIEC's statement on DDoS attacks Visit:
https://www.ffiec.gov/press/PDF/FFIEC%20DDoS%20Joint%20Statement.pdf



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