DDoS attacks could cost enterprises over $2.5 million in revenue

A new report from information services specialist Neustar looks at the frequency and cost of DDoS attacks and what is being done to counter the threat.

In terms of revenue loss, three percent of organizations report average revenue loss of at least $250,000 per hour, with 51 percent taking at least three hours to detect an attack and 40 percent taking at least three hours to respond, that means an attack could cost over $2.5 million.

Attacks are getting larger too, with 45 percent of DDoS attacks delivered at more than 10 gigabits per second (Gbps), and 15 percent of attacks being at least 50 Gbps, almost double the number reported last year.

In total 849 out of 1,010 organizations surveyed were attacked, with no particular industry spared, an increase of 15 percent since 2016. 86 percent of those attacked were also hit more than once. Also customers are often the first to spot a problem, with 40 percent of respondents reporting receiving attack alerts from customers, up from 29 percent in 2016.

“Distributed Denial of Service (DDoS) attacks are the zeitgeist of today’s Internet,” says Barrett Lyon, pioneer of the DDoS defense industry and head of research and development at Neustar Security Solutions. “The question organizations must ask now is how they are prepared to manage these highly disruptive events. Are they prepared for the bad day where their customers call and ask why the website is down?”

Ransomware now often goes hand in hand with DDoS too, the number of instances of this increased 53 percent since 2016. 51 percent of attacks involved some sort of loss or theft with a 38 percent increase year on year in thefts of customer data, financial and intellectual property.

Whilst almost all organizations surveyed have some form of DDoS protection in place, 90 percent say they are investing more than they did a year ago and 36 percent think they should be investing more still.

Source: https://betanews.com/2017/05/04/ddos-attack-cost/

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