SINGAPORE, 11 DECEMBER 2008 - Singapore telco Starhub has launched an enhanced corporate internet security system specifically designed to protect banks and financial institutions from distributed denial of service (DDoS) attacks.
A DDoS attack occurs when multiple compromised systems (primed by malware or trojans) flood the bandwidth or resources of a targeted system, overwhelming the business' network so that it can no longer provide the intended online service, or obstructing legitimate communications between the business and its customers.
Starhub’s ‘Internet Clean Pipe’ released today directly supports the latest Internet Banking and Technology Risk Management (IBTRM) Guidelines of the Monetary Authority of Singapore (MAS) released in June 2008.
StarHub, launched in 2000, is a fully-integrated info-communication company, offering a full range of information, communications and entertainment services for both consumer and corporate markets.
Real-time monitoring
Ms Leow Bee Ling, Head of StarHub's Data and Integrated Solutions, said the new system offers real-time monitoring, detection, packet scrubbing and mitigation measures to protect customers' online assets against multiple online threats, thereby enhancing business continuity.
"Banks and financial institutions looking to comply with the IBTRM guidelines can look to StarHub's new service to secure their online strategic assets and protect their brand reputation,” Leow said.
“Internet Clean Pipe stops online attacks on the upstream core-router from the ISP side and removes malicious data traffic while allowing only legitimate transactions to be processed. It will help minimise downtime and costly bandwidth spikes as a result of these DDoS attacks, ensuring customers get added peace of mind as they seek to strengthen their online infrastructure."
The MAS IBTRM guidelines require banks to adopt risk management principles and security practices to assist them in establishing a sound and robust technology risk management framework. The guidelines are designed to strengthen system security, reliability, availability and recoverability, and to encourage the deployment of strong cryptography and authentication mechanisms to protect customer data transactions.
