ANZ has confirmed that its E*Trade platform fell victim to a cyber attack prior to Christmas last month, after initially denying that hackers were responsible.
In the lead-up to the festive season, overseas customers were unable to access the trading platform. In order to execute trades they were required to contact the bank directly. The Australian Financial Review, which first reported the problem, had originally been told that the bank's trading platform had not been hit by hackers, but the bank has now admitted that this was not the case
ANZ spokesperson Stephen Ries confirmed to ZDNet Australia that the platform was hit by a distributed denial of service (DDoS) attack. The attack involves several independent, or distributed, computers repeatedly making requests for information so as to overwhelm the victim's resources, and prevent or hinder its ability to provide services to legitimate requests.
"We experienced some malicious activity that impacted the performance of the E*Trade website prior to Christmas," he said.
"We responded immediately to minimise any disruption to our clients, and ensure our data remained secure."
Overseas customers being unable to access the trading platform was a side effect of the bank's action.
The attack appeared to have only temporarily affected the availability of the platform, and the bank has stated that at no stage was the security of the site breached.