NETSCOUT Reports on DDoS Vulnerabilities in Africa’s Financial Sector
- Kenya, Nigeria, and South Africa identified as hotspots for DDoS attacks in the financial sector.
- 222 attacks claimed against the global banking and financial services sector by the threat actor NoName057(16) in the first half of 2024.
- 10,840 DDoS attacks reported against the insurance market in the EMEA region, with South Africa being the most affected.
The increasing frequency and sophistication of DDoS attacks on financial services in Africa highlight a critical vulnerability in the sector. It is imperative for organizations to prioritize cybersecurity and invest in advanced protective measures to safeguard their operations and customer data. The reliance on digital services makes these institutions particularly susceptible to disruption, which could have severe economic repercussions.
