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Network provider releases report on cyber attacks
A Grand Rapids network provider is offering insight into cyber attacks and their impact on organizations.
US Signal released last week the results from its 2019 “State of the Web and DDoS (distributed denial of service) Attacks” survey.
The results are from more than 100 IT decision makers in U.S. companies with up to 750 employees.
The survey reveals 83% of organizations have experienced a DDoS attack within the last two years and more than half of them experienced multiple.
The survey also shows 81% of respondents have experienced a cyber attack on their web applications in the past two years and nearly half experienced several cyber attacks. The average financial impact of affected companies’ most recent cyber attacks totaled to about $152,000. Despite this, 91% of respondents still consider their website and application security performance to be satisfactory, with nearly three in five saying it’s highly satisfactory.
“The number of respondents that have experienced DDoS and application attacks is jarring, demonstrating that there is always room for improvement in keeping up with modern cyber threats,” said Trevor Bidle, VP of information security and compliance officer, US Signal.
The majority of the organizations also claimed, on average, a DDoS attack caused 12 hours of downtime and a further 30% said that it caused around 20 hours of downtime. More than one-third of those surveyed considered revenue loss the most serious consequence of DDoS attacks.
Other impacts reported by respondents included a decrease in IT staff productivity (34%) and reputational damage (20%).
Despite the threats, 17% of respondents do not have or were not sure if they had a DDoS protection provider or tool.
To combat cyber threats, many respondents are turning to managed service providers to help implement, monitor and maintain a mixture of cyber security technologies, including cloud-based firewalls (73%), DDoS protection (71%) and email security (62%). In addition, 97% of participating organizations scan and test for vulnerabilities within their web applications.
“While the survey showed that there is a clear culture of investing in IT security solutions across organizations, there seems to be a need for more robust security tools and managed services to help resource-strapped technical teams,” Bidle said. “The reputational and financial damage that an online attack can cause a company is immense, and we hope security vendors and service providers can use this data to enhance their offerings and further protect their customers’ websites and applications.”
The survey's complete results are online.