Cost Of DNS Cyberattacks Soars By 57 Per Cent – Finance Firms Hit Hardest

The finance sector, together with healthcare, is bearing the brunt of DNS cyberattacks according to a new report. DNS (domain name system) attacks, which aim to disrupt networks, meant businesses in the sector had to fork out $924,390 (£716,684) to restore their services. DNS (domain name system) attacks, which aim to disrupt networks, meant businesses in the sector had to fork out $924,390 (£716,684) to restore their services.


The 2018 Global DNS Threat Report from EfficiencyIP, which protects companies such as Netflix and the London Stock Exchange, shows a 57 per cent year-on-year increase in the cost of DNS attacks. The main losses come from the downtime to in-house applications, cloud services or a company’s website after a network has been compromised.


The study surveyed 1,000 businessmen and women across North America, Europe and Asia Pacific.


It found that financial organisations spent an average of seven hours recovering their networks following a cyber-attack and, in the worst cases, spent 41 days resolving the impacts of DNS attacks last year.


On average, financial services firms suffered an average of seven attacks over the past 12 months, with nearly one in five being attacked ten or more times.


Despite the high number of cyber-attacks on the sector, the report reveals 72 per cent of finance companies took three days or longer to install a security patch on their systems, leaving them open to attacks.


The full report can be downloaded here.

more news

Sweat in peace, don’t bleed in war…


Whether you believe it was General Patton, General Shwarzkopf or another historic figure who coined these words – the point it makes has never been more relevant than today in the world of business, as well as in the mindset of the military. Even if the violent imagery doesn’t reflect your business leadership style, please read on, because we all need to consider how strategic neglect can lose business fast - faster than ever in fact. The same impetus that can create business value quickly from nothing can return it to dust with a speed that defies human understanding.

read more

Smartphone, Dumb Owner? Strengthen Your Mobile Security


With the growth in the use of smartphones and tablets in the workplace and the increase in personal use for such things as online banking, cybercriminals are turning their nefarious attention to mobile devices. Internet security giant Symantec has revealed that mobile malware variants soared by 54 per cent in 2017 when compared to the previous year.

read more

Prepare Against Cyberattacks - There Are Resources Available


It is foolish, in the mostly digital world we now live in, to assume that there is someone available to bail you out. Quite simply the more digitalised we get, the more self-sufficient we need to become. Protecting our assets online has never been such an important aspect of any business. There are a multitude of sites, services and products available to help, Government Agencies, the police, National Cyber Security Centre all willing to help and spraying the internet with great advice.

read more

IT Managers Overwhelmed Fighting Cyberattacks - Sophos


A global survey, The Impossible Puzzle of Cybersecurity, carried out by Sophos reveals IT managers are inundated with cyberattacks coming from all directions and are struggling to keep up due to a lack of security expertise, budget and up to date technology.

read more