DDoS attacks could cost European firms $50,000 a day

DDoS attacks could cost European firms $50,000 a day

Oct 17, 2014

 

European companies have cited distributed denial-of-service (DDoS) attacks as a major threat that costs tens of thousands of dollars each day.

New Kaspersky Lab research showed 23 percent of firms on the continent listed this type of malicious activity among their top three business concerns, with serious incidents generating up to $50,000 of losses every 24 hours. 

Cybercriminals are becoming increasingly sophisticated in their attempts to earn money through DDoS attacks, resulting in breaches rising in frequency and seriousness.

According to Kaspersky Lab, even at the low end of the scale, an incident could cost $10,000 per day while systems are down.

There can also be significant reputational damage. As a result of these issues, 26 percent of European businesses now feel service continuity is a top-three IT priority next year.

One way to improve continuity procedures is to invest in standby database software, which enables companies to switch from an unavailable database to an operational secondary system. 

This ensures critical business processes can continue running even in the event of an outage at the primary site. 

Database dangers

A DDoS attack overwhelms its target - which can be a website or database - by sending a large number of requests that prevent regular users from accessing services.

The activity has become popular due its low costs and the difficulty of tracking those responsible, with victims ranging from multinational companies to small online businesses.

"DDoS is often part of a targeted attack against an organization, when online services are overloaded to provide a diversion while attackers access critical data," explained Alexander Moiseev, managing director of European operations at Kaspersky Lab.

June research from UK telecommunications provider BT showed 41 percent of businesses in the country had been affected by DDoS attacks within the last year.

More than three-quarters (78 percent) of these firms had been struck at least twice. Despite this, only 36 percent of respondents said DDoS instigators were a key concern.

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