69% Indian Firms Face Serious Cyber Attack Risk

Kuala Lumpur: While 69 percent Indian and 63 percent Australian companies are most at risk of a cyber attack, 35 percent of organizations in the region suffered at least one cybersecurity incident in the last 12 months, says a sector study.

According to a recent study by leading IT analyst firm Frost & Sullivan, findings of which were released on May 9 hereby Forcepoint, a leader in global cybersecurity, around 83 percent of organizations in the Asia Pacific region do not think about Cyber Attacks while cybersecurity embarking on digital transformation projects.

Although a majority of the organizations (72 percent) conduct regular breach assessment to protect themselves against Cyber Attacks, still 55 percent of them continue to be at risk.

“It’s clear from this study that many APAC organizations are on the back foot when it comes to enterprise cybersecurity in the borderless organization,” said Kenny Yeo, Industry Principal, APAC ICT, Frost & Sullivan.

With 95 percent of respondents having embarked on a digital transformation journey, adopting emerging technologies, including cloud computing, mobility, Internet of Things, and artificial intelligence/machine learning, the study reveals a big push among APAC organizations for digitization.

However, 65 percent of respondents acknowledged that they were seriously hampered in the execution of digital transformation projects due to rising cyber attacks.

One of the key reasons for this is the less mature approach by business leaders to involve cybersecurity when designing digital transformation projects. It is also evident from the fact that around 83 percent of the companies did not consider cybersecurity until after their digital transformation projects had begun.

Cloud has become one of the key components that are leading digital transformation with 69 percent of firms adopting cloud. But 54 percent of respondents perceive that their cloud service provider will take full responsibility for security.

Normally, Cyber Attack security and compliance are a shared responsibility between an organisation and the cloud service provider. This serious misconception around the responsibility of security in the cloud is resulting in a higher number of cyber attacks, says the study. (IANS)

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