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Major Cyber Threats Faced by Banks

• Distributed Denial of Service (DDoS):

  DDoS attacks occur when a network of compromised computers floods an organization’s systems with excessive spam requests. This overload makes the systems unable to respond to legitimate requests. Such attacks are often intended to disrupt operations or serve as tools for extortion.

• Vulnerability Exploitation:

  Cybercriminals methodically scan an organization’s publicly accessible applications to detect potential vulnerabilities. These weaknesses can be exploited to execute malicious code, steal sensitive information, or launch Denial of Service (DoS) attacks targeting the bank’s systems.

• Account Takeover:

  The rise in remote work has led to the extensive use of secure remote access solutions. Cybercriminals take advantage of stolen, leaked, or guessed credentials to gain unauthorized entry into corporate systems, enabling data breaches or the deployment of malware.

• Phishing:

  Phishing attacks involve fraudulent messages crafted to trick individuals into visiting harmful websites or opening malicious attachments. This method is commonly used to deploy malware and obtain critical login credentials and confidential information.

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