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Radware Report Shows That Respondants Claim Average Cost of Cyberattack Now Exceeds $1 MillionMAHWAH, N.J., Jan. 15, 2019 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a leading provider of cybersecurity and application delivery solutions, today announced it has released its 2018-2019 Global Application and Network Security Report, in which survey respondents estimate the average cost of a cyberattack at $1.1M. For those organizations that calculate (versus estimate) the cost of an attack, that number increases to $1.67M. The top impact of cyberattacks, as reported by respondents, is operational/productivity loss (54%), followed by negative customer experience (43%). What’s more, almost half (45%) reported that the goal of the attacks they suffered was service disruption. Another third (35%) said the goal was data theft. “While threat actors only have to be successful once, organizations must be successful in their attack mitigation 100% of the time,” said Anna Convery-Pelletier, Chief Marketing Officer for Radware. “A cyberattack resulting in service disruption or a breach can have devastating business impacts. In either case, you are left with an erosion of trust between a brand and its constituency.” 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% of respondents claiming not to have experienced an attack at all. Twenty one percent reported daily attacks, representing a significant rise from 13% last year. Not only are attacks becoming more frequent, they are also more effective: 78% of respondents hit by a cyberattack experienced service degradation or a complete outage, compared to 68% last year. Even with these numbers, 34% of respondents do not have a cybersecurity emergency response plan in place. Other key findings of the report include:
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 2018-2019, which details 2018’s major attack trends and provides predictions and recommendations from Radware’s ERT for how organizations can est prepare for mitigating cyber threats in 2019, can be downloaded at https://www.radware.com/ert-report-2018/ THIS PRESS RELEASE AND THE REPORT ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY. THESE MATERIALS ARE NOT INTENDED TO BE AN INDICATOR OF RADWARE'S BUSINESS PERFORMANCE OR OPERATING RESULTS FOR ANY PRIOR, CURRENT OR FUTURE PERIOD. About Radware Radware® (NASDAQ: RDWR), is a global leader of cyber security and application delivery solutions for physical, cloud, and software defined data centers. Its award-winning solutions portfolio secures the digital experience by providing infrastructure, application, and corporate IT protection and availability services to enterprises globally. Radware’s solutions empower more than 12,500 enterprise and carrier customers worldwide to adapt to market challenges quickly, maintain business continuity and achieve maximum productivity while keeping costs down. For more information, please visit www.radware.com. Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, Twitter, YouTube, Radware Connect app for iPhone® and our security center DDoSWarriors.com that provides a comprehensive analysis on DDoS attack tools, trends and threats. ©2019 Radware Ltd. All rights reserved. The Radware products and solutions mentioned in this press release are protected by trademarks, patents and pending patent applications of Radware in the U.S. and other countries. For more details please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners. Safe Harbor Statement Media Contacts: Investor Relations: |