New Kaspersky Labs research notes that the financial impact of a Distributed Denial of Service (DDoS) attack continues to rise, and is now more than $120K for SMBs and more than $2M for enterprise organizations. A Corero Network Security executive notes that these costs can climb far higher, based on recent research and given upcoming regulatory changes such as GDPR.
Andrew Lloyd, President, Corero Network Security, comments on Kaspersky Labs Research.
How to measure time
“Rather than focus solely on average loss/cost values of a DDoS attack, it’s helpful to think about what a DDoS attack might cost an organisation for every minute that it goes unmitigated. Especially for revenue sensitive customer who have website where the online ‘cash register’ runs at hundreds of thousands and sometimes millions of US dollars every minute, and for session-sensitive services such as online banking and gaming”
Legal ramifications
“Also, with the introduction in May 2018 across all 28 EU member states of punitive legislation such as GDPR and NIS, the cost of a successful DDoS cyber-attack could be set for a major uptick with fines of up to $20 million.”