Increasing Trends of Cyber Security Breaches in India

December 6, 2017 5:48 am Published by Leave your thoughts

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With multiple, recent occurrences of high-profile cyber attacks globally, India finally seems to be catching up to its global peers when it comes to securing its cyber systems, albeit at a slow pace.

Almost half of IT decision makers around the world, including India, still believe that business executives are not making cybersecurity a significant enough priority or focus, according to a survey by cyber security solutions provider Fortinet.

With an expanded push on the digitization of the Indian business scene, around 84% of Indian associations have been casualties of security breaks in the course of the most recent two years, the overview features.

In any case, while India still positions higher than worldwide associates with regards to occasions of malware and ransomware attacks at 54% when contrasted with 47% globally, the silver lining has been the increase in spends on network security by Small and Medium Businesses (SMBs), undertaking as likewise specialist organizations

“The recent Wannacry and Petya ransomware attacks on Indian businesses has escalated cybersecurity to a boardroom priority. Most enterprises are investing in next-generation firewalls with advanced threat protection capabilities for advanced malware detection and in web application firewalls to secure online applications,” said Rajesh Maurya, regional vice-president – India & SAARC at Fortinet.

Indian organizations’ spend on cybersecurity now forms over 10% of their IT budget and is growing at a (CAGR) compound annual growth rate of 13.5% annually.

However cyber security experts believe, with the wave of digitisation and IoT sweeping India and its entrepreneurial ecosystem, usage of mature softwares and ability to recognise a possible data breach beyond just providing for solutions are absolutely essential, especially on government-led biometric systems such as Aadhaar.

“Citizens biometric data is valuable so security strategy that upkeeps data integrity, such as using micro segmentation is important. For systems like Aadhaar which may be too static and therefore, aren’t data security proof, multi-factor authentication, tokens and physical keys that are harder to steal than data sitting in data centres is crucial,” suggests Derek Manky, Global Security Strategist at Fortinet.

This comes on the back of ET’s report on Monday highlighting that UIDAI authorities exploring the possibility of introducing dummy numbers that would add an extra layer of security to every Aadhaar cardholder, amidst concerns on privacy and protection around the system.

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This post was written by Suman Mondal

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