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Germany warns of cyberattacks on banks amidst war in Ukraine

The financial regulator of the largest European economy warned financial institutions that Russia's war in Ukraine had inflated the intensity of cyberattacks.

Germany's financial supervisory authority, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), issued a warning about a growing number of attacks against the country's financial sector.

While BaFin did not provide many details, the warning said that the war in Ukraine had increased the risk of cyber attacks in Germany, including the nations' financial institutions.

"In the last few days, there have been repeated attacks on IT infrastructures, in particular using DDoS," read the warning.

Distributed denial of service (DDoS) attacks has been trending among Russia-affiliated hacker groups recently. For example, Killnet, a pro-Kremlin group, employed DDoS to attack multiple government websites in Italy.

Government websites in Italy, Romania, Germany, as well as websites in Czechia, Latvia, and elsewhere were also under Killnet's cyber fire.

Competing hacker groups launched numerous attacks after Russia invaded Ukraine. Anonymous, Ukraine's IT Army, Hacker Forces, and many other hacktivist groups started targeting Russia's state-owned enterprises and businesses.

According to the United Nations, the Russian invasion of Ukraine has created the 'fastest-growing refugee crisis in Europe since World War II.' 12.8 million people were displaced due to the conflict, with 6.8 million fleeing the country.

Witness testimonies from Ukrainian towns Russian forces have occupied for close to a month point to severe human rights violations and targeted lethal attacks against civilians. Reports of "gross and systematic violations and abuses of human rights" got Russia suspended from the UN Human Rights Council.

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