Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

Corero Study Confirms DDoS Attacks Damage Customer Trust and Erode Confidence

Data theft is also a key concern, mirroring industry concerns.

Erosion of customer trust and confidence is the single most damaging consequence of DDoS attacks for businesses, according to a study amongst IT security professionals attending this year’s Infosecurity Europe, conducted by Corero Network Security (LSE: CNS), a leading provider of real-time DDoS defence solutions. Almost half (42 percent) of IT security professionals who responded said loss of customer trust and confidence was the most damaging result of DDoS attacks for their businesses, while 26 percent cited data theft as the worst effect.

Potential revenue losses were the third-most cited damaging impact, 13 percent, followed by the threat of intellectual property theft (10 percent).

“Network and web services availability are crucial to ensuring customer satisfaction and sustaining customer trust and confidence in a brand. These indicators are vital to both the retention and acquisition of customers in highly competitive markets,” said Ashley Stephenson, CEO at Corero Network Security. “When an end user is denied access to Internet-facing applications or network outages degrade their experience, it immediately impacts brand reputation

When asked which “security lapse” scenario would be most damaging to their organisation should it be made public knowledge, 39 percent of participants cited repercussions from loss of intellectual property and/or customer data, 22 percent cited inclusion of organisational infrastructure into a DDoS attack botnet, and 18 and 17 percent said the incursion of regulatory fines and becoming the target of a DDoS attack, respectively.

Stephenson said: “The cyber threat landscape has become increasingly sophisticated and companies remain vulnerable to DDoS because many traditional security infrastructure products, such as firewalls and IPS, are not sufficient to mitigate modern attacks. Proactive DDoS protection is a critical element in proper cyber security protection against loss of service and the potential for advanced, multi-modal attack strategies.”

“With our digital economy utterly dependent upon access to the Internet, organisations should think carefully about taking steps to proactively protect business continuity, particularly including DDoS mitigation,” he concluded.

To find more about Corero Network Security visit www.corero.com