Categories: Economy

Indian organisations complain of rise in cyber attacks in the last one year

Careful: Indian organisations have witnessed a rise in Cyber attacks

About 52 per cent of Indian organisations said they fell victim to a successful cybersecurity attack in the last 12 months, according to a survey released on Tuesday.

Of these successful breaches, 71 per cent of organisations admitted it was a serious or very serious attack, and 65 per cent said it took longer than a week to remediate, showed the survey by global cybersecurity firm Sophos.

The study of 900 business decision makers across Asia Pacific and Japan indicates Covid-19 accelerated period of digitisation and was a catalyst for improving cybersecurity, but systemic security issues persist.

While attacks are increasing in frequency and severity, cybersecurity budgets remained largely unchanged as a percentage of revenue between 2019 and 2021.

At the same time, India reported the highest percentage of companies that have an independent security budget.

Furthermore, they expect a rise in the median percentage of technology budgets spent on cybersecurity from 9 per cent today to 10 per cent in the next 24 months.

&quot;Cyberbreaches are a reality that we cannot afford to ignore. Within an organisation, there will always be multiple threats that can exploit various vulnerabilities and launch full blown cyberattacks,&quot; Sunil Sharma, Managing Director — sales, Sophos India and Saarc, said in a statement.

&quot;The only way to stop these threats is to actively hunt for them and neutralize them. This makes threat hunting an important function to mitigate the damage caused by cyberattacks.&quot;

Overall, 44 per cent of Asia Pacific and Japan (APJ) organisations surveyed suffered a data breach in 2020, up from 32 per cent in 2019.

Of these successful breaches, 55 per cent of companies rated the loss of data as either &quot;very serious&quot; or &quot;serious&quot;.

As cyberattacks continue to rise, the report found that malware, Artificial Intelligence/Machine Learning-driven attacks and nation state attacks will be the most serious threats to enterprise cybersecurity over the next 24 months.

(IANS)