Within the past 72 hours, SecureState’s Incident Response Hotline (1-855-IRT-24X7 or 1-855-478-2497) has received multiple reports of companies within the financial sector being subjected to Distributed Denial of Service attacks (DDoS). These attackers are then using the DDoS attacks to distract these financial institutions from spotting and responding to malicious activity such as fraudulent wire transfers initiated on behalf of their customers. These attacks are used as a distraction mechanism and can also be used to prevent victims from accessing their online accounts and spotting the fraud too quickly. This ensures that the attacker has enough time to transfer the stolen funds before the transfer can be reversed. SecureState provides these threat updates when there is an influx of calls involving similar attacks occurring to specific business sectors.