The global consultancy firm EY has observed in its survey that about one third of the Indian organizations do not have real-time knowledge of cyber-risks which is necessary to combat the cyber-attacks. As per the EY Global Information Security survey, companies are lack agility, budget and skills to ease out the known vulnerabilities and successfully prepare for and address cyber-security.
According to the report, there are about 32.14% organizations in India which say that their total security budget will remain the same in the coming 12 months despite increasing threats. Along with this 54.55% stated that they are facing rising threats and 50.91% said they are facing rising vulnerabilities in their information security environment. Moreover, the number of careless and unaware employees turned out to be 54.1%. The respondents also stated that fraud and cyber-attacks to steal intellectual property or data were the top two threats 27.3% and 18.2%, respectively.
As reported by PTI, Devendra Parulekar, EY India partner and leader info security said, “Cyber-attacks have the potential to be far-reaching — not only financially, but also in terms of brand and reputation damage, the loss of competitive advantage and regulatory non- compliance. Organizations will only develop a risk strategy of the future if they understand how to anticipate cybercrime. They must undertake a journey from a reactive to a proactive posture, transforming themselves from easy targets for cybercriminals into more formidable adversaries.”
The report also suggests that 33.93% respondents feel that mobile technologies will be a high priority for their organization in the coming 12 months. On the other hand, 46.3% believes higher security budget and investment in the coming year to prevent threats due to mobile technology in their security architecture.
The survey was conducted on 1,825 organizations in 60 countries across the globe and out of them 60 organizations was from India.