According to the «Corporate IT Security Risks 2016» study by Kaspersky Lab and B2B International, where more than 4.000 business representatives from 25 countries took part, a single DDoS attack can cost a business more than $1,6 million. The amount however depends on how long it takes to identify the attack.

Different size companies, attacked during the 12 past months were asked about the costs they were burdened with.

As proved, for medium and large businesses (20% and 19% respectively), the largest costs were incurred from changes in their credit and insurance assessments which is not surprising if we take into account that most DDoS attacks become known.

For smaller businesses, most costs from DDoS attacks were derived from overtime staff payments (17%). Also, DDoS attacks were reported as one of the top five threats that could lead companies to hiring new personnel. Specifically, 37% of victim enterprises are already planning to increase systematically their IT staff.

Other fundamental costs associated with DDoS attacks include client compensations (12%), IT infrastructure and software renewal (10%), staff training (10%) and PR costs in order to restore a company’ s image (9%).

This can cause an average DDoS attack cost of approximately $106.000 for smaller businesses and up to or more than $1,6 million for larger companies.

An essential finding proves that if an attack is identified in the first 24 hours of occurrence, costs might halve the costs of an attack identified after more than a day.

“The study shows that DDoS attacks are one of the most costly digital threats faced by enterprises. Such an attack can disable companies’ online services for a long time period, distort their image and deprive them from current or potential clients. There have been incidents where DDoS attacks have lead to bankruptcy or even closure of digital companies. Proactive protective measures allow a quick identification of a developing DDoS attack. In this way potential hazards can be prevented” claimed Alexey Kiselev, Project Manager, Kaspersky DDoS Protection.

For more information concerning DDoS attacks, read Kaspersky DDoS Intelligence.

Source: https://www.secnews.gr/107735/ddos-corporate-it-security-risks-2016-kaspersky-lab/

Find out how to protect yourself and your business: http://cyber.aspida.org