DDoS attacks could cost the UK £1bn

Downtime costs £2,140 per minute, on average, which adds up to an eye-watering figure

DDoS mock up

The size and scale of Distributed Denial of Service (DDoS) attacks in the UK could cost the country almost 1 billion per year, according to research.

The statistics come from Netscout's Worldwide Infrastructure Security Report, which surveyed service providers and IT decision makers in the UK, US, Canada, France, Germany, Brazil, and Japan.

"The tools to initiate DDoS attacks are cheap, freely available and easily deployed," said Darren Anstee, CTO of security at Netscout.

"As a result, there are more than 10,000 DDoS attacks every day around the world. The size and complexity of attacks continue to grow and businesses must make sure their key resources are adequately protected, including in the cloud, SaaS etc.."

In 2018, the majority (91%) of respondents said they had experienced a DDoS attack that resulted in network downtime. The average amount of downtime stood at 30 minutes or more for nearly half the companies questioned and an unlucky nine percent found their systems were adversely impacted for more than four hours.

For UK businesses, specifically, 86% of respondents said they had been a victim of an attack at least once last year. 

A staggering 90% of these UK businesses say they have experienced downtime, with an average of 67 minutes for the year. The cost of this downtime is estimated to be 2,140 per minute - which added up, comes to an eye-watering 1 billion figure.

"If we assume those impacts apply equally to the 8,000 UK companies with more than 250 employees, the total cost equates to approximately 900 million," Anstee summarised.

"However, we know that the wide availability of the required tools has 'democratised' DDoS. Much smaller companies are also under attack and so the true cost to the UK economy is likely to significantly exceed 1 billion per annum."

The findings also show that DDoS attacks have ramifications beyond just service downtime. Respondents cited a series of measurable attack consequences, such as revenue loss (36.2%), increased operational expenses (38.6%), reputational impact (36.2%), surging insurance premiums (31.9%) and loss of customers (30.7%), highlighting the longer-term damage successful attacks can bring.

"If something is important to you, it's important to hackers," Anstee concluded.

Featured Resources

Unlocking collaboration: Making software work better together

How to improve collaboration and agility with the right tech

Download now

Four steps to field service excellence

How to thrive in the experience economy

Download now

Six things a developer should know about Postgres

Why enterprises are choosing PostgreSQL

Download now

The path to CX excellence for B2B services

The four stages to thrive in the experience economy

Download now

Recommended

Mastering endpoint security implementation
Security

Mastering endpoint security implementation

16 Apr 2021
US, UK say Russia was behind SolarWinds hack
cyber attacks

US, UK say Russia was behind SolarWinds hack

16 Apr 2021
1Password targets enterprise customers with Secrets Automation
IT infrastructure

1Password targets enterprise customers with Secrets Automation

14 Apr 2021
PowerShell threats increased over 200% last year
cyber security

PowerShell threats increased over 200% last year

14 Apr 2021

Most Popular

University of Hertfordshire's entire IT system offline after cyber attack
cyber attacks

University of Hertfordshire's entire IT system offline after cyber attack

15 Apr 2021
Microsoft is submerging servers in boiling liquid to prevent Teams outages
data centres

Microsoft is submerging servers in boiling liquid to prevent Teams outages

7 Apr 2021
How to find RAM speed, size and type
Laptops

How to find RAM speed, size and type

8 Apr 2021