DNS Cyber Attacks Costing Financial Services Companies $924,390

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According to a report entitled The 2018 Global DNS Threat Report by EfficientIP, the financial services industry is the worst affected sector by domain name systems (DNS) attacks which are cyber attacks where attackers take advantage of network vulnerabilities to break into bank systems stealthily.

Furthermore, the costs of these attacks are increasing. According to the report, last year, a single financial sector attack cost each organization $588,200 to recover. This year the report shows that organizations spent $924,390 to restore services after each DNS attack.

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