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.

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.”

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.

“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.”

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