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A single DDoS attack can cost your business more than £1 million

A single distributed denial of service attack, or DDoS, can cost a large company up to $1.6 million, or £1.24m, depending on a couple of factors. These figures were published in a new report by Kaspersky Lab (opens in new tab)and B2B International, entitled Corporate IT Security Risks 2016. 

For medium (20 per cent) and large (19 per cent) companies, the biggest expense comes from the change in credit and insurance rating. For smaller companies, paying overtime for employees (17 per cent) was cited as the biggest expense.  A DDoS attack is also one of five threats which forces businesses to hire new people, with 37 per cent of those who suffered a DDoS attack saying they are planning on increasing staff to combat the problem.  There are also expenses of hiring a PR to restore a company’s broken reputation (nine per cent), upgrading IT infrastructure and software (10 per cent), training staff (10 per cent), or customer compensation (12 per cent).  

“Our research demonstrates that DDoS attacks are one of the most expensive cyber-threats for companies. In fact, they are more expensive than a virus or a cryptomalware infection. Just one single DDoS attack can disable the online services for long periods of time, damage the company's reputation and deprive it of its current or future customers,” says Alexey Kiselev, Project Manager on the Kaspersky DDoS Protection team. 

“There have been incidents where prolonged DDoS attacks have led to the bankruptcy and closure of successful online businesses. Proactive protection allows a company to quickly detect an ongoing DDoS attack and, in the case of a solution like Kaspersky DDoS Protection, assist in finding out as soon as an attack begins thanks to the DDoS Intelligence system, thereby warding off any potential risks.”

Photo Credit: Duc Dao / Shutterstock

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.