DDoS attacks are costing business victims hard cash
The early headlines of a DDoS attack usually focus on size of assault. It’s easy to understand why because data in Neustar’s 2017 Worldwide DDoS Attacks and Cyber Insights Research Report indicate the scale of potential lost revenue is huge.
As more business is being done online, DDoS attacks are a primary risk to revenue generation. And when the revenue stops, the result for business victims is hitting the bottom line. For attackers seeking to harm business reputations, DDoS attacks are proving to be a ready assault tool that can quickly put a company in the public eye in the wrong way.
Our research focused on the risks of hourly revenue loss due to disruptions and outages from a DDoS attack (p.12). We found that 63% of respondents face a peak revenue generation risk at more than $100,000 per hour. This is up 26% from numbers reported in 2016. And 43% of all organizations responding have more than $250,000 per hour at risk.
Potential losses ramp quickly when DDoS attack detection and mitigation is delayed. Globally, 51% of respondents attacked took at least three hours to definitively identify a DDoS attack (p. 19). Response times are equally dismal – 48% required three or more hours for mitigation (p. 20).
Extrapolating from stated revenue risks and corresponding detection and response times, respondents to our survey have collectively experienced a minimum revenue risk disruption in excess of $2.2 billion during the previous 12 months. This is more than $2.5 million averaged across 849 organizations who reported being attacked as captured in Neustar worldwide research. These numbers soar as detection and response times increase, as they unfortunately did since last year.
Note that a DDoS attack can strike any business and any department within. Typically, a DDoS attack will focus on a website used to generate sales, such as online ordering, call centers, payment systems and marketing. Globally, our data show the areas of an organization experiencing the biggest cost increase due to DDoS attacks are:
- Call centers – 9%
- IT group – 26%
- Customer service – 12%
- Risk management / compliance – 15%
- Security – 29%
- Marketing – 9%
To help step up your DDoS defenses and minimize potential losses from attacks, download our report here and see how your organization compares to peers throughout the world. Understanding these issues is a vital first step towards controlling the risks of DDoS attacks.