It’s an unfortunate truth that, in today’s world, everything is connected.
No matter how we slice it, politics, policy, society and business operations can significantly impact one another. Take the ongoing war in Ukraine, for example. More than just a flashpoint in Eastern Europe, the war has generated a massive humanitarian crisis, widespread economic uncertainty and warnings from the President of the United States that Russia could be planning cyberattacks on American businesses.
Even before the outbreak of war earlier this year, the traditional means of protecting one’s corporate network were already under pressure. The FBI recently reported a 400% increase in cyberattacks during the peak of the COVID-19 pandemic, when everyone deemed an essential employee was working from home.
With a vast number of American employees continuing to work from home and global cyber threats rising, business leaders need to ask themselves two important questions:
- Is my business vulnerable to cyberthreats?
- What would happen right now if my business was under attack?
Are you ready for today’s new cyber warfare? It is time to be proactive and not just reactive.
Threats to Businesses
One of the most common cyberthreats that American businesses are facing is the Distributed Denial of Service (DDoS) attack. A DDoS attack’s purpose is to interrupt and impede your corporate network by continuously attacking it with traffic, causing disruption and the inability for users to utilize the network. Because these attacks are continuously evolving, many businesses are finding it difficult to keep up. Hackers are more clever, faster, and global than ever before. This, along with traditional DDoS applications becoming outdated, is a cyber disaster waiting to happen.
Unfortunately, DDoS attacks are difficult to avoid because businesses’ networks and cloud services offer so many prime targets. These include infrastructure devices (e.g., routers, switches and load balancers), domain name systems (DNS), and other key applications that support eCommerce, voice and video services. Even security devices such as firewalls and intrusion prevention systems can be targets of attack.
The 2022 cybercriminal is discovering new ways to disrupt corporate networks. Businesses with a reactive approach are finding it nearly impossible to fight off DDoS attacks. However, businesses with a proactive plan, where the DDoS attack is mitigated BEFORE reaching the business’s network, will allow for far greater network availability than the typical reactive approach. This is going to be a mission-critical business continuity play for 2022.
According to Netscout, there were 9.7 million DDoS attacks in 2021, a 14% increase over 2019, with $9-$12M in potential revenue losses from DDoS extortion of VoIP providers alone. What is causing the increase? There are several ways ransomware organizations are taking advantage of breaking through traditional DDoS protections. Per Netscout, some of the threats that businesses should be aware of include:
- A Triple Threat – An unprecedented, parallel operation of three DDoS extortion campaigns (LBA, Fancy Lazarus, and REvil copycat) in 2021, which showcased a continued trend of monetizing DDoS.
- The Rise of Server-Class Botnet Armies – Botmasters are exploiting high-powered servers running vulnerable software and services, conscripting them into server-class botnet armies capable of launching high-powered direct-path DDoS attacks.
- DDoS-for-Hire Free-for-All – Underground DDoS-for-hire services are offering a vast range of configurable options, power, and attack types to anyone with an internet connection.
A Partner That Has Your Back
Businesses need a partner that will truly have their back. It’s not enough to simply get internet from an ISP. You need a true technology solutions provider – a trusted consultant. Xtel is a provider of business services backed by a fiber network it owns and operates. That means that, in addition to offering internet services and other telecommunications services to businesses, Xtel also offers DDoS Mitigation service that is proactive in nature and helps businesses shield themselves from DDoS attacks and the horrible consequences of falling victim to one.
To learn more about Xtel’s DDoS Mitigation services and the differences between a proactive and reactive approach to protecting your network, stay tuned for Part 2 in our DDoS Mitigation blog series!
In the meantime, to help you keep your employees productive and your corporate data secure, we’ve written an e-book – Work Anywhere – Boost Employee Performance & Protection Against Cyber Attacks in 1 Powerful Move. Inside, we talk about the pros and cons of managing a hybrid workforce and what you need to know to keep your business safe. We will also provide you with a solution!
You can also download our DDoS Mitigation infographic for a quick and informative overview.