Lack of robust IT security system key reason behind rising cyberattacks

| | New Delhi
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Lack of robust IT security system key reason behind rising cyberattacks

Wednesday, 12 September 2018 | PTI | New Delhi

Lack of robust IT security system key reason behind rising cyberattacks

Lack of robust IT security system in organisations is the key reason behind increasing cyberattacks as 65 per cent of the participant organisations 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 per cent organisations have dedicated IT staff where more than 25 persons are employed, while 21 per cent companies do not have dedicated employees.

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

This is despite the fact that 62 per cent participant organisations witnessed IT breach in the form of virus attack (7 per cent), malware (10 per cent), phishing (19 per cent), ransom ware (26 per cent), while 32 per cent 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 country in the world after the US.

Netrika Consulting's survey noted that Indian corporates are not very regular in assessing their cyber security which leads to regular loss due to cyberattacks.

Just 44 per cent participant companies confirmed that they conducted IT security audit in last 6 months in their organisations, while 56 per cent stated that during last six months no IT security audit was undertaken in their organisation.

"A risk based approach is to form your data security strategy by prioritising 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/cyberattack and others who are going to experience a cyberattack 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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