More than 100 banks, exchanges, insurers and other financial firms worldwide were targets of the same type of cyberattack that crippled the New Zealand Stock Exchange in August, though they didn’t suffer the same extent of damage.
Most companies responded to the attacks with increased spending on cybersecurity, including hiring outside help, according to the Financial Services Information Sharing & Analysis Center, a network of financial firms sharing information about cyber threats. Trading at the New Zealand exchange was halted for four days when the DDoS attack — short for distributed denial of service — overwhelmed its network with traffic.
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