70 per cent of firms have been victims of DDoS attacks

NEARLY THREE-QUARTERS of companies have been the victim of a distributed denial-of-service (DDoS) attack, and 80 per cent have been hit more than once, according to a new report from Neustar that puts part of the blame on the Internet of Things (IoT).

The Threatscape Widens: DDoS Aggression and the Evolution of IoT Risks report highlights a growing threat to small and medium sized businesses everywhere.

Neustar found that 57 per cent of victims reported some kind of theft following the attack involving customer data, financial information or intellectual property.

Some 47 per cent of companies that have been attacked have suffered more than five times. We reported in October that some firms get hit as many as four times a day.

The cost is not insignificant. Half of the victims lost an estimated $100,000 an hour during peak outages, while around a third took a $250,000 hourly punch in the face. Neustar reckons that it takes about three hours for an organisations to realise that it’s under attack.

You possibly know this already, but the threat of DDoS attacks has prompted firms to invest more money in security.

“The findings of our most recent report are clear: attacks are unrelenting around the world but organisations now recognise DDoS attacks for what they are – an institutionalised weapon of cyber warfare – and are protecting themselves,” said Rodney Joffe, head of IT security research at Neustar.

“We present the data from our third DDoS survey as a means to inform the public of the dangers associated with DDoS attacks. This should be a discourse that reaches from security through to marketing, as when a DDoS attack hits the reverberations have a domino effect throughout all departments.”

This wouldn’t be a 2016 security news story without some consideration of where the Internet of Things fits into this, and it seems to be right in the middle.

“The IoT is already here, but the internet was never built with security in mind; ease of use and convenience were paramount,” said Hank Skorny, senior vice president for the IoT at Neustar.

“Every IT professional knows it can take just one successful hack on an IoT device to access and compromise an entire network. As IoT devices continue to become ingrained into our electrical grid, hospitals, assembly lines and other essential areas of life, the stakes are simply too high to leave security to chance.”

 

Source:  http://www.theinquirer.net/inquirer/news/2456123/70-per-cent-of-firms-have-been-victims-of-ddos-attacks