October 9, 2017 by

DDoS Attacks Double with Corporate Data Under Threat

DDoS attacks are on the rise in 2017 with a third of all organizations facing at least one DDoS attack this year.

A new report from Kaspersky Lab has revealed that cybercriminals are using DDoS attacks as a tool to gain access valuable and lucrative corporate data. Over a third of all organizations have been stuck by a DDoS attack this year, up from a relatively mere 17% in 2016. Of the 33%,  20% are small businesses, 33% medium-sized businesses and 41% of enterprises – which goes to show that every organization, irrespective of type or size, is at risk.

‘Although figures for this year show that companies are more likely to experience just one attack – in 2016, 82 per cent faced more than one DDoS attack, compared to 76 per cent this year – the consequences are no less severe, resulting in significant business disruption,’ read an excerpt from the report. ‘

26 per cent of the organizations stuck by DDoS attacks confessed to a “significant decrease in performance of services” while 14 per cent revealed there was a “failure of transactions and processes on affected services.”

Further, many companies have also revealed that DDoS attacks were used as an excuse or reason to cover-up other incidents that could have lead to significant reputational and financial damages. Over half of the respondents affected by a DDoS attack confessed it was merely used as a smokescreen.

Kaspersky Lab UK head of VSMB & channel Russ Madley stated:

While DDoS attacks have been a threat for many years, it’s still important that businesses take DDoS attacks seriously as they are one of the most popular weapons in a cybercriminal’s arsenal. They can be just as damaging to a business as any other cybercrime, especially if used as part of a bigger targeted attack…Organizations must understand that protection of the IT infrastructure requires a comprehensive approach and continuous monitoring, regardless of the company’s size or sphere of activity.

While more organizations are experiencing DDoS attacks, the percentage of businesses targeted has dropped from 82% to 76% this year.

Image credit: Pexels.

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LIFARS is a digital forensics and cybersecurity intelligence firm based in New York City. LIFARS is ranked as one of the top Digital Forensics and Cyber Investigations companies in 2016 and as one of the top cybersecurity companies in the New York metropolitan area for 2015 on the Cybersecurity 500 – a directory of the hottest and most innovative companies to watch in the cybersecurity industry.

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