Pub. 8 2013-2014 Issue 2

July | August 2013 11 Extraordinary Service for Extraordinary Members. As banking becomes an increasingly mobile and electronic-based activity for your customers, the possibility of cybersecurity threats from criminals and “hacktivists” continues to grow. T his means we each have to be vigilant—ready to respond to protect our bank and our cus- tomers. We know that no bank is immune fromexperiencing something like a dis- tributed denial-of-service (DDoS) at- tack. Banks are increasingly the target of such attacks, which seek to disrupt a bank’s processes by overwhelming computer and/or telecommunications networks with massive amounts of server and data requests. Sometimes these attacks can mask an attempted compromise of a bank’s systems. These attacks can interfere with customers’ ability to access their online banking accounts, and they canmorph into data loss or destruction. While the latter instances are rare, we must be mindful that this can occur. ABA is actively engaged in industry- led responses to these threats, working with government and law enforcement officials to provide you the resources necessary to address these threats. Our cybersecurity webpage at aba.com/ cybersecurity is continually updated with information on the latest threats and resources tominimize their impact. Through the ABA’s Corporation for American Banking, we are evaluating our cybersecurity endorsements to ensure we are offering the appropri- ate suite of products and services. In addition, we continue to work with the administration and Congress to im- prove our nation’s overall cybersecurity and enhance our capacity to share vital threat information. These are defensive actions, but we also are on the offense, working to shut down cybersecurity threats. On June 5, with the assistance of the ABA, two other industry trade groups, and the Federal Bureau of Investiga- tion, Microsoft’s Digital Crimes Unit received court approval to take down a major network of infected computers, or “botnets,” known as Citadel. Botnets, which are controlled by hacker-operated servers, are used to commit financial crimes and cyberat- tacks, and can remain active for years if not intercepted. The Citadel botnets had infected as many as 5 million comput- ers and had been used to compromise additional computers of financial in- stitutions’ customers worldwide. The operation’s success will reduce future losses incurred by banks and their cus- tomers. As these computers move off the botnet grid, they will be cleansed of malicious software, a process that is already underway. “Creating successful public-private relationships inwhich tools, knowledge, and intelligence are shared is the ulti- Washington Update Cybersecurity Vigilance Frank Keating , President & CEO, American Bankers Association  Vigilance — continued on page 12