Distributed denial of service (DDoS) attacks present a significant threat to organizations as they grow in sophistication and frequency. According to several studies and reports, the average successful DDoS attack in 2022 lasted for over 50 hours, compared to 2021, where the average was 30 minutes.
The financial services industry, in particular, has become a prominent target for DDoS threat actors, as these organizations hold a larger market share, and their users rely heavily on 24/7 access to the critical services they provide. As institutions shift their services online and become more digitally accessible through services like mobile banking, the DDoS attack surface expands, leaving them increasingly vulnerable to a potential attack.