A new survey by security specialist Radware suggests the financial cost of a single successful cyberattack climbed to an average of $1.1 million (£857,000) in 2018, up a hefty 52 percent from the previous year’s survey.
Tel Aviv-headquartered DDoS mitigation specialist Radware surveyed 790 individual respondents for the report, with 28 percent having revenue of over $1 billion and those surveyed having an average of 4,300 employees.
In a 64-page report dubbed “The Trust Factor: Cybersecurity’s Role in Sustaining Business Momentum” the company also pointed to a 62 percent increase in the number of companies being attacked daily (20 percent).
Among the report’s other key takeaways: a 13 percent rise in the number of organisations experiencing encrypted DDoS attacks.
As the company’s researchers put it: “These attacks required high-capacity resources to mitigate… Detecting and mitigating attacks in encrypted traffic was a challenge for organizations on different levels.”