BaFin building in Bonn, Germany
BaFin is the financial regulator responsible for supervising and supervising German financial institutions and markets. Its responsibility is to ensure the stability, integrity and transparency of the German financial system.
In addition, BaFin's website provides businesses and consumers with information on banking, loans and property financing. It also provides a consumer helpline and whistleblower information-sharing platform to help expose wrongdoing by individuals or companies in the financial industry.
BaFin supervises a total of approximately 2,700 banks, 800 financial services institutions and more than 700 insurance companies. Recently, it responded to the DDoS attack that occurred last weekend.
BaFin mentioned in a statement issued on Monday (September 4) that because the attack is still continuing, only a small part of the website of the German Federal Financial Supervisory Authority is currently accessible. On Tuesday (September 5), European users can access the website normally.
However, Recorded Future News tried to connect to the website in the United States, and the information suggested that the DDoS attack caused excessive traffic on the website and users were temporarily unable to access it.
BaFin said administrators immediately implemented security and defensive measures upon discovery of the attack to protect the site from further hacking attacks and to restore full access to the site. However, it is still unclear which hacker group is behind this incident.
Financial institutions in Europe have been under increasing pressure recently as pro-Russian hacker groups such as NoName057(16) claimed DDoS incidents against the websites of banks and insurance companies in Poland, the Czech Republic and Lithuania.
As of now, no pro-Russian hacker group has claimed responsibility for the BaFin attack.