According to a recent survey, the average cost estimate for cleaning up a cyberattack comes in at around £850,000.
But this is actually a conservative estimate: For those organisations that actually calculate (versus estimate) the real cost of an attack, that number increases significantly to £1.3 million.
How is this calculated and what does it entail? According to the survey:
“Quantifiable monetary losses can be directly tied to the aftermath of cyberattacks in lost revenue, unexpected budget expenditures and drops in stock values,” according to the report. “Protracted repercussions are most likely to emerge as a result of negative customer experiences, damage to brand reputation and loss of customers.”
This doesn't even include the actual costs of repairing the damage and updating existing systems to prevent future incidents.
At Wintercorn we've seen companies large and small suffer an attack because they simply didn't know they were being attacked and didn't know what to do until it was too late. They had no IDS (Intrusion Detection Systems) operating, they had no named person responsible for their website and they didn't bother with updates because "we're not very good with computers".
Some even hosted their corporate websites on $5 per month shared servers with thousands of other sites. This is actually one of the most common routes to an attack and one of the most dangerous to your website, data and brand.
If you actually find out you've been attacked then you can at least do something about it. We have seen major sites which have been attacked and still function normally until the organisation lose their search engine ranking or their IP address and domain name get blacklisted due to spam or malware.This might take several months to discover by which time your reputation and ability to trade is severely damaged.
One of the easiest and most cost effective ways to prevent the expenditure of £850,000+ is to ensure that your website is:
- 'Owned' by someone in your organisation who is at least capable of logging in regularly and checking it.
- Regularly updated (both the core and plugins/extensions) and scanned for malware and bad traffic in real-time.
- Logging what is happening on the site. Know what is normal traffic and activity and what might need further investigation.
- Backed up both locally and remotely. Most issues we see can be immediately resolved by reverting to a previous, clean backup and then investigating the cause of the incident followed by cleaning and securing.
- Regularly audited to ensure you are using best practice security including renewals of your domain name.
At Wintercorn we can offer all of the above for a fixed price starting at £100 per month per site for either WordPress or Joomla!. We take care of all security, updates, backups and monitor the site in real-time 24/7. We can detect, deter and repair attacks long before they have any affect on the site itself.
We currently manage sites for major brands with traffic figures exceeding 4tb per month and daily unique visitors averaging 120,000 so we can certainly help your organisation with your online security issues.
For a detailed quote please either contact us via email or telephone and we will prepare a proposal based on your specific requirements.