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.
Europol Releases Latest IOCTA Report
Each year, Europol’s European Cybercrime Centre (EC3) publishes the Internet Organised Crime Threat Assessment (IOCTA), its flagship strategic report on key findings and emerging threats and developments in cybercrime — threats that impact governments, businesses and citizens in the EU.read more
European Cybersecurity Month 2019 Is launched
October marks the kick-off of the European Cybersecurity Month (ECSM), coordinated by the European Union Agency for Cybersecurity (ENISA), the European Commission and supported by the Member States. This campaign will focus on expanding awareness about cybersecurity to citizens across Europe.read more
Remote Desktop Attacks Increasing
The Remote Desktop Protocol (RDP) is being used by cyberattackers to penetrate and extract data from a network before introducing their malicious software to perform internal reconnaissance, according to a new Vectra 2019 Spotlight Report on RDP.read more
LexisNexis Report On Cybercrime Has Shock Figures
LexisNexis Risk Solutions has released at the Digital Identity Summit its Cybercrime Report providing a comprehensive view into the shifting global fraud landscape from January 2019 through June 2019. During this period, the LexisNexis Digital Identity Network recorded 16.4 billion transactions, of which 277 million were human-initiated attacks, a 13 per cent increase over the second half of 2018.read more