Lloyds Banking Group Suffers DDoS Cyber Attack

Cause:
Cyber criminals hit the Lloyds Banking Group with a two-day distributed denial of service (DDoS) attack that brought down online banking services for Lloyds, Halifax and Bank of Scotland customers intermittently. In a coordinated effort to contain the attack, IT security experts at Lloyds then geo-blocked the source of the attack. This effectively dropped a portcullis over the server launching the attacks, but also stops legitimate customer requests from that geographical area as well. The cyber criminals then move to another server, and the geo-blocking game continues.

Effect:
The cyber attack took place from Wednesday 11 January to Friday 13 January, leaving many customers unable to access their online banking services. According to reports, The DDoS attack affected only the availability of services with no customers suffering any financial loss. 2016 saw the first attacks of one terabit per second (Tbps) or more, and Deloitte predicts that trend will continue in 2017.