Should corporate treasuries be worried by the recent rashof cyber attacks that hackers sprung on leading U.S. financialinstitutions throughout September and October? According totreasury security experts, the answer is a qualified “yes.”
The distributed denial of service (DDOS) attacks on the Websites of Bank of America, BB&T, Capital One, JPMorgan Chase,SunTrust Banks, U.S. Bancorp and Wells Fargo “were more disruptivefor retail clients rather than corporate clients,” says PaulLaRock, a principal at consultancy Treasury Strategies.
U.S. Bancorp, the only bank willing to share its DDOSexperience, saw its online performance degrade on Sept. 26 ashackers flooded the bank's Web site with extraneous serverrequests.
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