Infocomm Infocomm
24th NBFC100 TECH SUMMIT AWARDS 24th NBFC100 TECH SUMMIT AWARDS
BFSI AI SUMMIT BFSI AI SUMMIT
Home Regulators RBI SEBI TechINFRA Security Data Centre Cloud Services Government Reforms DBT Aadhaar GST Payments Payment Gateways ATM Point of Sale Payment Wallets Fintech Apps Banks Public Sector Private Sector Cooperative NBFCs Year Ender Magazine Magazine Subscription Articles Interviews Webinars Webinar Videos Video Series — Innovation Talk Upcoming Initiatives BFSI Events About Us Contact Us

Indian firms facing higher financial loss from cybersecurity breaches: Study

cybersecurity

Due to cybersecurity breaches one in three Indian companies are facing downtimes which are over 9 hours leading them to pay higher financial costs as compared to that of 30 percent globally, the report stated.

AdvertisementElets BFSI AI Summit & Awards, Mumbai

According to Cisco’s 2019 Asia Pacific CISO Benchmark Study, “Nearly 37 percent of companies in India experienced a downtime of over 9 hours after their most severe breach in the past year, compared to just 30 percent globally.”

AdvertisementSAAS

As per the study, 46 percent of respondents have reported that they have received more than 5,000 threats alert a day. However, 43 percent of them were left unattended, compared to that of 39 percent in the year 2018.

Out of the threats that were investigated and were found genuine, only the 41 percent remediated. That’s 52 percent down from that in the year 2018.

AdvertisementInfoComm India 2026

“Hackers are no longer just targeting IT infrastructure but have started to attack operational technology infrastructure, intensifying the challenge for companies,” the report said.

In India, the percentage of respondents who have already experienced the attach on their operational infrastructure is 25 percent as compared to that of 21 percent globally. 34 percent of respondents believe that it will increase in the coming year.

As per the report when it was asked to people how challenging it is to manage a multi-vendor environment, 89 percent of them said it is challenging to orchestrate multiple vendor alerts.

The report which is based on responses from 2,000 security professionals from across the APAC region noted that “This is in line with the global trend, with 79 percent of respondents across the world highlighting this as an issue.”

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram.

Our Coverage of News

Banks Pull Back from Forex Buy-Sell Swaps into US Treasury Bills After Sensing RBI Discomfort

Some of India's large banks have stepped back from a lucrative foreign exchange arbitrage trade after picking up… Read more →

Sahamati Defers Account Aggregator Pricing Model to December 1, Extends Free Data Access for Lenders by a Month

Banks, lenders and other regulated entities that pull customer data through India's Account Aggregator (AA) network will continue… Read more →

SBI Launches CyRIS Cybersecurity Centre of Excellence to Build Intelligence-led Cyber Resilience for Banking

State Bank of India (SBI) has stepped up its fight against digital threats with the launch of CyRIS,… Read more →

Mochatrade Raises $5.5 Million Seed Round Led by CoinFund to Let Indian Traders Access US Markets via UPI

Mochatrade, a Y Combinator-backed trading platform built for Indian users who want exposure to US markets, has raised… Read more →

axiTrust in Talks to Raise $5 Million Series A to Scale Digital Surety Bonds for Indian Businesses

Bengaluru-based fintech startup axiTrust, which issues and manages digital surety bonds as an alternative to collateral-heavy bank guarantees,… Read more →

Protectt.ai Takes Controlling Stake in Bosch-Incubated AIShield to Secure AI in Banking and Fintech Apps

Protectt.ai, the Bessemer Venture Partners and Bajaj Finance-backed mobile app security company, is taking a controlling stake in… Read more →

whatsapp--v1