Kirill Ilganaev, Head of Kaspersky DDoS Protection at Kaspersky Lab Money Quote saying banks must take cyber attacks seriously by preparing the banking industry with cybersecurity protections. Kirill Ilganaev said:
“If banks are to protect themselves effectively from the price tag of an online banking cyber security incident, they first need to become more prepared for the dangers DDoS attacks pose to their online banking services” — Kirill Ilganaev
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Kirill Ilganaev is advising that in order for banks to shield themselves from the high financial costs (“price tag”) of a cybersecurity breach affecting their online banking services, they must first improve their defenses against DDoS (distributed denial of service) attacks. He is noting that DDoS attacks endanger banks’ digital operations and expose them to security incidents.
Therefore, according to Ilganaev, banks need to bolster their preparations for and protections against DDoS attacks specifically, as an initial step towards better protecting themselves from the significant expenses (“price tag”) that would result from a cyberattack compromising customers’ data and online accounts.
In summary, he is linking the risks of DDoS attacks to potential cyber incidents and their associated costs, while urging banks to enhance their anti-DDoS measures as a priority.