Report shows that a third of businesses still do not have a cyber attack response plan
- Published: Tuesday, 15 January 2019 13:13
Radware has published its 2018-2019 Global Application and Network Security Report, which looks at the impacts of cyber attacks and the measures that businesses have taken to prepare for and respond to them.
The top impact of cyber attacks, as reported by respondents, is operational/productivity loss (54 percent), followed by negative customer experience (43 percent). What’s more, almost half (45 percent) reported that the goal of the attacks they suffered was service disruption. Another third (35 percent) said the goal was data theft.
While the cost of attack mitigation continues to rise, so does the number of organizations under attack. Most organizations have experienced some type of attack within the course of a year, with only 7 percent of respondents claiming not to have experienced an attack at all. 21 percent reported daily attacks, representing a significant rise from 13 percent last year. Not only are attacks becoming more frequent, they are also more effective: 78 percent of respondents hit by a cyber attack experienced service degradation or a complete outage, compared to 68 percent last year. Even with these numbers, 34 percent of respondents do not have a cyber security emergency response plan in place.
Other key findings of the report include:
- 43 percent of respondents reported negative customer experiences and reputation loss following a successful attack.
- Data leakage and information loss remain the biggest concern to more than one-third (35 percent) of businesses, followed by service outages.
- Hackers increased their usage of emerging attack vectors to bring down networks and data centres / centers: respondents reporting HTTPS Floods grew from 28 percent to 34 percent, reports of DNS grew from 33 percent to 38 percent, reports of burst attacks grew from 42 percent to 49 percent, and reports of bot attacks grew from 69 percent to 76 percent.
- Application-layer attacks cause considerable damage. Two-thirds of respondents experienced application-layer DoS attacks and 34 percent foresee application vulnerabilities being a major concern in the coming year. More than half (56 percent) reported making changes and updates to their public-facing applications monthly, while the rest made updates more frequently, driving the need for automated security.
- 86 percent of surveyed businesses indicated they explored machine-learning (ML) and artificial intelligence (AI) solutions. Almost half (48 percent) point at quicker response times and better security as primary drivers to explore ML-based solutions.
Radware’s Global Application and Network Security Report, now in its eighth year, is a cross-industry report compiled by Radware’s Emergency Response Team (ERT), leveraging vendor-neutral survey data from 790 IT executives spanning several industries around the globe, Radware’s hands-on experience handling today’s leading threats, as well as third-party service provider commentary. The complete Global Application & Network Security Report 2018-2019can be downloaded at https://www.radware.com/ert-report-2018/ (registration required).