Sign In
Learn bits
Science & Tech.
Mahesh

29/12/23 07:17 AM IST

Indian organisations at very high risk of cyber attacks, says survey

In News
  • The PwC's 2023 Global Risk Survey- India edition said that 38 percent of all the respondents of the survey felt that their company is highly exposed to cyber threats.
  • Cybersecurity has jumped two spots from number three to number one on the risk radar when compared to the 2022 Global Risk Survey, the data stated.
Cyber attacks
  • Indian organizations are proactively investing in cybersecurity, with over half planning investments in cybersecurity tools (55%) and AI-related technologies (55%) in the next 1–3 years, aligning with global trends (51% and 49%, respectively).
  • To reinforce these investments, 71% of Indian organizations are actively leveraging cybersecurity and IT data for risk management and opportunity identification, surpassing the global average of 61%.
  • The survey also revealed how organizations are using emerging technologies such as Generative Artificial Intelligence for risk management, with 48% of Indian enterprises having deployed AI and machine learning for automated risk assessment and response to a large extent. This is slightly lower than the global response of 50%.
  • 42% of Indian organizations grapple with heightened security vulnerabilities attributed to legacy technologies (Outdated technology systems and infrastructure), surpassing the global average of 36%.
  • 88% of Indian organizations have actively invested in resilience building over the past year, surpassing the global average of 77%.
Primary threats
  • Cyber risks, encompassing malware, trojans, and spyware, have prominently emerged as the foremost threat for Indian organizations, notably highlighted by a substantial increase in ransomware attacks.
  • Companies paying the ransom witnessed a doubling of the cost of data recovery compared to those relying on backups, emphasizing the financial toll of succumbing to ransomware demands.
  • IT organizations store a diverse range of critical data, encompassing personally identifiable information, intellectual property, access credentials, and financial data.
  • This multi-dimensional data provides threat actors with leverage to execute and perpetuate a range of malicious activities.
  • Leaked data, especially intellectual property, can lead to devaluation and replication of software, posing a severe threat to revenue streams.
Source- Hindustan times

More Related Current Affairs View All

18 Nov

AFSPA in Manipur

'The Manipur government has formally requested the Centre to reconsider and revoke the reimposition of the Armed Forces (Special Powers) Act (AFSPA) in six police station areas of

Read More

18 Nov

BS-III petrol and BS-IV diesel four-wheelers

'With high levels of pollution in Delhi and smog blanketing the city, the Delhi government has introduced measures to improve the air quality.' The Graded Response Action Plan (

Read More

18 Nov

India’s first long-range hypersonic missile

'The Defence Research and Development Organisation (DRDO)  conducted a successful flight test of long range hypersonic missile from the Dr APJ Abdul Kalam Island off the Odish

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps