ANZ E*Trade outage actually DDoS attack

Summary: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.

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.

(Numbers and Finance image by Ken Teegardin, CC BY-SA 2.0)

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.

Topics: Outage, Banking, Security

About

A Sydney, Australia-based journalist, Michael Lee covers a gamut of news in the technology space including information security, state Government initiatives, and local startups.

zdnet_core.socialButton.googleLabel Contact Disclosure

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.