Sberbank fends off 62 DDoS attacks since start of 2018

Maria Nikolova

The average number of DDoS attacks registered by Sberbank this year is 1-2 per week.

Russian bank Sberbank Rossii PAO (MCX:SBER) has earlier today posted some cybersecurity data concerning its operations.

The bank says that it has managed to safeguard RUB 32 billion in client funds from cyber attackers thanks to its fraud-monitoring system using the capabilities of artificial intelligence. This system analyses more than 150 million operations a day and blocks suspicious transactions.

Sberbank’s cybersecurity centre processes more than 3 billion events every day, with several thousand of them being linked to harmful software.

The average number of DDoS attacks registered by Sberbank this year is 1-2 per week. Since the start of 2018, the bank has managed to fend off 62 DDoS attacks, and 25 of them being attacks of high intensity. This number exceeds 1.5 time the level since in 2017.

Let’s recall that, there are changes to the reporting requirements for Russian banks and operators of payment infrastructure, effective July 1, 2018. The new rules concern the reports about cyber incidents. The companies have to submit more detailed information regarding the economic consequences of these incidents for the operators and their clients.

In particular, the operators must report to the central bank about the amounts of money that were targeted by hackers and the amounts of money that were actually stolen during a given period. The regulator requires banks and operators to report the precise sum that they returned to their clients affected by a breach.

The companies also have to submit information about the quality of their money transfer services during such incidents.

The new information will allow the Central Bank to see how the firms it regulates comply with existing laws, especially the law “On the National Payment System”. In addition, the regulator will be able to gauge the level of risk management at banks and payment transfer operators. Furthermore, the Central Bank hopes that the new requirements will enhance the credibility of information that firms submit about data breaches that occur during money transfers.

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