Businesses fear reputation damage after a DDoS strike

A DDoS attack can ruin a company’s reputation, and that’s mostly what businesses fear more than any money they might lose fighting against the attack, a new report says.

The report by security researchers Kaspersky Lab is based on a poll of 5,000 businesses. For 37 per cent of them, a DDoS attack had caused reputational damage. More than a third (39 per cent) feared losing clients and having a damaged reputation, more than they fear how much a fight against a DDoS attack costs (28 per cent), and more than they fear losing revenue (26 per cent).

More than half of those surveyed (57 per cent) had lost business data, and 56 per cent have lost access to critical business information. In 42 per cent of cases, businesses had trouble trading after the incident.

“DDoS attacks are one of the most common forms of cybercrime in the world today”, comments Evgeny Vigovsky, Head of Kaspersky DDoS Protection, Kaspersky Lab.

“Attackers often plan the timing of their attack in order to maximise financial damage. Our research shows that because this is such a visible form of attack, it is the impact on a company’s reputation and its credibility with customers that concerns businesses the most.”

A third of businesses (33 per cent) said a DDoS attack hurt their credit rating, and 35 per cent said their insurance premiums grew, as a result of the attack.

“It’s time for businesses and brands to adopt a proactive, rather than reactive, strategy. One DDoS attack on a company’s online resources might cause from $53,000 to $417,000 in damage, depending on the size of the company. But it is the effect on corporate trust that is the biggest danger. Businesses need to put plans in place to mitigate DDoS attacks before it’s too late.”

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