APAC organisations report average revenue loss of US$250,000 to DDoS attacks

Distributed Denial of Service (DDoS) attacks are causing revenue loss to organisations in Asia Pacific (APAC), according to Neustar’s Worldwide DDoS Attacks and Cyber Insights Research Report.

A third (33 percent) of APAC organisations reported average revenue loss of at least US$250,000.

Nearly half (49 percent) of organisations in the region take at least three hours to detect, and 42 percent take at least three hours to respond.

The instances of ransomware and malware reported in concert with DDoS attacks were reported by 49 percent of organisations in APAC too.

“With organisations across Asia Pacific being attacked more often and DDoS attacks predicted to become even larger and more complex, IT and business leaders need to evaluate the effectiveness of existing security strategies,” said Robin Schmitt, general manager, APAC at Neustar.

Global findings

The report also found that 99 percent of organisations globally have some sort of DDoS protection in place. However, 849 out of 1,010 organisations surveyed globally were attacked with no particular industry spared. Forty percent of the ‘victims’ said they received attack alerts from customers.

More than half (51 percent) of attacks involved some sort of loss or theft, with a 38 percent increase year-over-year in customer data, financial and intellectual property thefts.

Forty-five percent of DDoS attacks across the globe were reported to be more than 10 gigabits per second (Gbps), while 15 percent of attacks were at least 50 Gbps..

“The research shows that simply identifying an attack and depending on basic defences is not enough. Organisations in the region need to adopt stronger defences and innovative solutions to more quickly and effectively mitigate the growing risk and likely impact of a major DDoS attack,” said Schmitt.

Source: https://www.mis-asia.com/tech/security/apac-organisations-report-average-revenue-loss-of-us250000-to-ddos-attacks/