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The headline on the memo from the Comptroller of the Currency succinctly delivers the chilling news: “Information Security: Distributed Denial of Service Attacks and Customer Account Fraud.”

Issued a few days before Christmas, the warning bluntly said: “Fraudsters…use DDoS attacks to distract bank personnel and technical resources while they gain unauthorized remote access to a customer’s account and commit fraud through Automated Clearing House (ACH) and wire transfers (account takeover). In this scenario, the DDoS can occur immediately before, during, or after the attack. DDoS attacks also have been used to deny bank customers the opportunity to report suspected fraud and to block the banks’ customer-alert communications.”

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