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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 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.”

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