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  1. Lack of robust IT security system key reason behind rising cyberattacks, says report

Lack of robust IT security system key reason behind rising cyberattacks, says report

Lack of robust IT security system in organizations is the key reason behind increasing cyber attacks as 65 percent of the participant organizations do not even have a department to manage network security, says a survey.

By: | New Delhi | Published: September 12, 2018 3:26 PM
latest news, it security, cybersecurity, latest news on cyber security, cyber security According to US-based Software Company Symantec’s Internet Security Threat Report, India is the second worst cybercrime affected the country in the world after the US. (Reuters)

Lack of robust IT security system in organizations is the key reason behind increasing cyber attacks as 65 percent of the participant organizations do not even have a department to manage network security, says a survey.

According to the survey conducted by risk and integrity management firm Netrika Consulting, only 18 percent organizations have dedicated IT, staff where more than 25 persons are employed, while 21 percent companies do not have dedicated employees.

Moreover, 18 percent organizations have IT strength of just 1 to 3 employees, the survey said, adding that 65 percent of the participant organizations do not even have a department to manage network security.

This is despite the fact that 62 percent participant organizations witnessed IT breach in the form of virus attack (7 percent), malware (10 percent), phishing (19 percent), ransomware (26 percent), while 32 percent said they did not suffer any breach in the past 12 months.

According to US-based Software Company Symantec’s Internet Security Threat Report, India is the second worst cybercrime affected the country in the world after the US. Netrika Consulting’s survey noted that Indian corporates are not very regular in assessing their cybersecurity which leads to regular loss due to cyber attacks.

Just 44 percent of participant companies confirmed that they conducted IT security audit in last 6 months in their organizations, while 56 percent stated that during last six months no IT security audit was undertaken in their organization. “A risk-based approach is to form your data security strategy by prioritizing measures based on how much they will affect,” Netrika Consulting MD Sanjay Kaushik said.

Kaushik further noted that “there are two types of companies – one who have experienced a cyber-breach/cyber attack and others who are going to experience a cyber attack in the future. It’s not a question of if, but only a matter of when”. The survey covered 1,800 respondents from a range of industries – from manufacturing, BFSI, pharmaceuticals, hospitality, NBFC and IT/ITES.

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