The study, published by EfficientIP, found that the average cost of a DNS attack among European businesses currently sits at €734,000 (£644,000), which represents a jump of 43%, compared to the previous year, although the report claims that businesses in the US and in Asia Pacific pay a lot less for these incidents.
The results of these attacks are loss of data, service downtime, compromised public image and compliance failure.
European businesses are also the ones to suffer most data theft, with 39% experiencing loss of information; the world average is 33%. However, European organisations are actually the most effective when it comes to protecting their cloud services.
DNS-based malware is the most popular form of attack in Europe, followed by phishing and DNS denial of service attacks. DNS-based malware is more prevalent in Europe than anywhere in the world, with Germany being the number one target.
EfficientIP CEO David Williamson said: “GDPR makes it necessary for every organisation to ensure the data they keep is secure. Surprisingly, our research shows European companies have invested the least globally in technology, which can prevent data theft. This could be a reason why the region had the most data stolen. In the year ahead, it will be interesting to see how European companies will prevent data theft and avoid regulatory fines."