Businesses estimate losses of £100,000 per hour from DDoS attacks

A company can lose around £100,000 per hour during a distributed denial-of-service (DDoS) attack.

According to Neustar’s third annual UK and EMEA Distributed DDoS survey, 40 per cent of the 250 recipients estimate losses of over £100,000 per hour at peak times during a DDoS outage, while more than half of companies attacked have critical data stolen as a result of a DdoS.

Rodney Joffe, senior vice president and technology fellow at Neustar, said that businesses need to become more strategic in their approach to fighting these attacks, and called on the online community to develop industry-based mitigation technologies.

“These [need to] incorporate mechanisms to distribute attack source information into ISPs, so they can squelch the attacks closer to the source,” he said. “It needs to improve visibility and understanding of activities in the criminal underground, so their command and control structures can be disabled rapidly. Finally, it’s important to improve attribution and law enforcement actions to identify perpetrators and bring them to justice.”

A third of all EMEA businesses are now using hybrid DDoS protection. Where big money is involved, for example where a DDoS attack could cost over £100,000 per hour, the survey indicates 80 per cent of financial institutions deploying a hybrid DDoS solution. The survey also found that 69 per cent of financial institutions reported more than six DDoS attacks per year.

The post DDoS attacks can amount to losses of £100,000 per hour appeared first on IT SECURITY GURU.