73% Indian Businesses Anticipate Customer Data Breach Within A Year: Survey

NEW DELHI: 73 per cent of organisations in India believe they are likely to experience a data breach affecting customer data within the next 12 months.

The information comes from Trend Micro’s biannual Cyber Risk Index (CRI) research, which assesses the gap between respondents’ cybersecurity readiness and their risk of being attacked.

The top three negative consequences of an attack, according to Indian organisations, are lost intellectual property, critical infrastructure damage/disruption, and the cost of outside consultants and experts.

Key findings for India from the report include:

• 57% said it was somewhat to very likely that they’d suffer serious cyber-attacks in the next 12 months.
• 34% suffered 7+ cyber attacks that infiltrated networks/systems.
• 20% had 7+ breaches of information assets.
• 30% of respondents said they’d suffered 7+ breaches of customer data over the past year.

In India, the top cyber threats highlighted in the report were as follows:

• Ransomware
• Watering hole attacks
• Botnets
• Malicious insiders
• Advanced persistent threats (APT)

ALSO READ: 52% of Indian businesses victims of successful cyber attacks in last one year: Survey

“Once again we’ve found plenty to keep CISOs awake at night, from operational and infrastructure risks to data protection, threat activity and human-shaped challenges,” said Vijendra Katiyar, Country Manager, India & SAARC, Trend Micro.

“To lower cyber risk, organizations must be better prepared by going back to basics, identifying the critical data most at risk, focusing on the threats that matter most to their business, and delivering multi-layered protection from comprehensive, connected platforms,” Katiyar said.

Malicious insiders, cloud computing infrastructure and providers, organisational misalignment and complexity, and negligent insiders are the top infrastructure security risks.

The main challenges for cybersecurity readiness include an organization’s IT security personnel lacking sufficient knowledge, skill, and expertise to protect data assets and IT infrastructure; an IT security function that complies with data protection and privacy requirements; and an IT security architecture that is highly interoperable, scalable, and agile.

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