“A new type of security threat — “destruction of service” (DeOS) attacks, which could eliminate companies’ backups and safety nets — could cause way more damage to businesses than ransomware.

This is according to Cisco’s 2017 Midyear Cybersecurity Report in which the company coined the term DeOS attack. The report says the Internet of Things (IoT) increases attack surfaces and the potential scale and impact of these threats.

Researchers sampled 300 companies over a four-month period and found that three prevalent spyware families (Hola, RelevantKnowledge, and DNSChanger/DNS Unlocker) infected 20 percent. On a monthly basis, these three infected more than 25 percent of all organizations.

Attacks on service providers may interrupt their core business and hurt the bottom line: 34 percent of the service providers said they’d lost revenue because of attacks in the past year. And 30 percent said they lost customers or business opportunities because of these attacks.”

Read more details here.

Author: Jessica Lyons Hardcastle