MUMBAI: A month before Pakistan’s ceasefire violation on the eve of Independence Day, a silent battle was raging in Mumbai’s financial district. Two large private banks, a retail brokerage and a state-owned lender faced a cyber attack from hackers across the border that seriously slowed down all online customer transactions.
In the world of cybercrime, such attacks, which could be mistaken as normal traffic overload on the Net, are known as “distributed denial of service”, or DDOS.
According to cyber security head in one of the largest Indian banks, since April there have been several advisories from government agencies like CERT and National Critical Information Infrastructure Protection Centre on DDOS. “In a DDOS attack, if a bank can block the bogus traffic diverted by a hacker for the first 15 minutes, then the attacker typically moves away to a weaker target. But if an institution is unable to resist, then the attacker may demand ransom. Rogue hackers in places lik ..