# Over half of organisations would consider using cryptocurrencies for business transactions, though 8 in 10 acknowledge the increased risk of associated DDoS attacks
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2018-03-14
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: New Data from NISC Reveals Europe's Cryptocurrency Concerns
Meta Description: Discover the latest findings from the Neustar International Security Council on cybersecurity worries and trends in Europe. Learn about the rise of
URL: https://financedigest.com/over-half-of-organisations-would-consider-using-cryptocurrencies-for-business-transactions-though-8-in-10-acknowledge-the-increased-risk-of-associated-ddos-attackshtml

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_Neustar International Security Council (NISC) research reveals the latest cybersecurity worries across Europe_

The majority (80 per cent) of organisations have expressed interest in using cryptocurrencies – such as bitcoin – for business transactions, despite widespread fears of being compromised by associated DDoS attacks, according to new research from the Neustar International Security Council (NISC).

While 48 percent highlighted alternative forms of currency as a way to generate income through potential increased value, 26 per cent of businesses also pointed out the heightened risk of currencies being used as an alternate form of ransom.

This ongoing [fear has encouraged the majority of organisations to focus](https://www.financedigest.com/oil-prices-edge-down-recession-fears-back-in-focus.html "Oil prices edge down, recession fears back in focus") heavily on increasing their ability to respond to DDoS (41%), ransomware (40%) and targeted hacking (39%).

This new data has been revealed as part of a bi-monthly research series from the NISC, which has polled 255 IT security CTOs, VPs, senior directors, business managers and other professionals with a security remit [across Europe](https://www.financedigest.com/demand-for-energy-efficient-and-advanced-fairway-mowers-to-be-witnessed-across-europe.html "Demand for Energy-efficient and Advanced Fairway Mowers to Be Witnessed across Europe").

The NISC research findings have also been used to calculate a unique Cyber Benchmark Index, which measures the level of concern in the NISC community of security professionals about the [current international cybersecurity landscape](https://www.financedigest.com/organic-soy-products-market-outlook-current-and-future-industry-landscape-analysis-2029.html "Organic Soy Products Market Outlook, Current and Future Industry Landscape Analysis 2029"). Based on the latest set of data, the index figure has reached 10.5, a considerable increase from the 6.5 [rating in May last year](https://www.financedigest.com/u-s-dollar-rallies-to-more-than-2-year-hike-on-steep-fed-rate-hike-outlook.html "U.S. dollar rallies to more than 2-year hike on steep Fed rate hike outlook"), and 0.4 points higher than the last report in November.

![International Cyber Benchmarks Index](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/intlcyber-1736842921673-compressed.jpg)

From November to December, DDoS was seen to be the greatest concern to businesses at 22 per cent, with [financial and ransomware following close](https://www.financedigest.com/fast-track-financial-close.html "FAST-TRACK FINANCIAL CLOSE") behind. However, ransomware was most likely to be perceived as an increasing threat to organisations, with 45 per cent [listing it as their greatest concern moving](https://www.financedigest.com/sport-ronaldo-tops-forbes-highest-paid-athletes-list-in-2023-after-saudi-move.html "Sport-Ronaldo tops Forbes’ highest-paid athletes list in 2023 after Saudi move") forward.

Rodney Joffe, Head of NISC and Neustar Senior Vice President and Fellow, commented on the findings: “Ransomware and DDoS attacks continue to be seen as the [leading threat to companies](https://www.financedigest.com/automated-liquid-handling-systems-market-global-leading-companies-analysis-revenue-trends-and-forecasts-2027.html "Automated Liquid Handling Systems Market Global Leading Companies Analysis, Revenue, Trends and Forecasts 2027") due to the sheer volume, complexity and potential severity of an attack. That said, not too far behind as the second greatest concern to [businesses](https://www.financedigest.com/the-best-ways-to-protect-your-business-from-cyber-threats-in-2021.html "The best ways to protect your business from cyber threats in 2021") moving forward is financial threat,” he said.

“Armed with plenty of tools, such as compromised IoT devices, it’s likely that we’ll see hackers make use of [ransomware and DDoS attacks](https://www.financedigest.com/biden-orders-probe-of-latest-ransomware-attack.html "Biden orders probe of latest ransomware attack") to cause major distractions. At the same time, we’ll likely [see them put a focus on stealing large](https://www.financedigest.com/global-equity-funds-see-large-outflows-on-slowdown-worries.html "Global equity funds see large outflows on slowdown worries") amounts of financial data, which may include traditional currencies, or the increasingly popular cryptocurrencies – such as Bitcoin. By developing a more cohesive [security strategy](https://www.financedigest.com/security-trumps-obesity-in-britains-first-food-strategy.html "Security trumps obesity in Britain’s first food strategy"), organisations can hone in on their most vulnerable data, processes and models, protecting their critical information in the short and long term.”

Participants also noted that – due to the quickly evolving cyber-threat landscape – increasing their ability to respond to DDoS, ransomware and targeted hacking was a main priority, with 9 out of 10 (90%) agreeing that a WAF (Web App Firewall) was an [essential component of their company’s security](https://www.financedigest.com/security-backed-mortgages-essential-tips-and-guidance.html "Security-Backed Mortgages – Essential Tips and Guidance") infrastructure, a figure that increased the survey average by a significant margin.


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