Cybersecurity Insight

DDoS Attacks Threaten the Business World

7 Apr

DDoS attacks are an ever-present threat in the business world, and can have a huge impact on revenue. But how many of these enterprises are taking proper precautions? What are they doing to mitigate their risk?

report form Neustar provides insight into how enterprises are being affected by DDoS attacks, and what they’re doing to stop them. Over 500 executives and senior professionals – 70% of whose companies earn over $1B in revenue – took part in Neustar’s research.

Here are the findings:

  • 40% of businesses say DDoS attacks are a growing threat to the organization.
  • 85% of companies are hit multiple times
  • 30% are attacked over 10 times each year

To prevent these attacks, one third of the participants said they are using hybrid DDoS protection, including cloud services. Over 60% of these companies is currently using some form of traditional firewall, while half reported the use of DDoS mitigation services.

Not only are companies looking more towards hybrid protection (growing at 50% per year), they are also investing more in protecting their sensitive data. And yet, surprisingly, a quarter of respondents recognize DDoS attack prevention is a priority, but admit they aren’t currently investing more in prevention.

What is the big deal when it comes to DDoS attacks? Well, besides damaging brand trust with customers there could be big bucks at risk. While a number of respondents (about 18%) estimated losses at less than $25,000 an hour, about 22% reported potential losses could be between $100,000 and $1M an hour, depending on the size of the organization. And considering the Ponemon Institute found that it takes a company over nineteen days to detect a DDoS attack on average, that’s a lot of money lost.

One way to deal with potential DDoS attacks is through hybrid cloud protection with a professional provider. Attacks are detected quickly, meaning your organization can take action faster and respond to attacks swiftly. It also spreads your security over multiple sources, such as an on-premise or cloud based server. With a majority of companies being attack more than once per year, it’s important to be able to respond to risks quickly without an actual loss of service.

Taking the proper precautions can save a lot of time, agony, and money. With companies of all sizes are experiencing attacks today, investing more in security now will reduce the potential losses down the line. A good starting option is always a proper IT Security Assessment and subsequent security plan for your infrastructure. Know the risks are and be prepared before a DDoS attack hits your company.

Repurposed from original article on 30 April 2015.