In­ci­dents of cy­ber se­cu­rity breach surge 117 per cent in In­dia: PwC

SP's MAI - - INTERNAL SECURITY BREACHES -

In­ci­dents of cy­ber se­cu­rity breach surged by a record 117 per cent dur­ing the year and com­pa­nies are in­vest­ing more to tackle this men­ace, as also im­prove busi­ness per­for­mance, said a sur­vey. Ac­cord­ing to global con­sul­tancy firm PwC along with CIO and CSO, “The av­er­age num­ber of in­for­ma­tion se­cu­rity in­ci­dents de­tected by re­spon­dents in­creased by 117 per cent over the pre­vi­ous year, up from 2,895 last year to 6,284 this year.”

Mean­while, the in­crease in in­ci­dents of cy­ber se­cu­rity breach glob­ally stood at just 39 per cent dur­ing the pe­riod un­der con­sid­er­a­tion ( July 2014-June 2015). The re­port said that com­pa­nies in In­dia are in­vest­ing more to re­duce cy­ber se­cu­rity risks and im­prove busi­ness per­for­mance as a 71 per cent in­crease in bud­get on cy­ber se­cu­rity were seen dur­ing the said pe­riod. More­over, an in­creas­ing num­ber of or­gan­i­sa­tions are now adopt­ing cloud-based se­cu­rity mod­els to man­age cy­ber threats, the re­port said.

“Or­gan­i­sa­tions in In­dia are look­ing to­wards in­no­va­tive cy­ber se­cu­rity so­lu­tions, and we have seen a 25 per cent com­pounded an­nual growth rate (CAGR) in se­cu­rity bud­gets over the past five years, which sup­port this trend,” PwC In­dia leader, Cy­ber Se­cu­rity, Si­varama Kr­ish­nan said.

Over 71 per cent re­spon­dents use some form of cloud-based se­cu­rity tools such as an­a­lyt­ics, ad­vanced au­then­ti­ca­tion and iden­tity and ac­cess man­age­ment, the re­port said. “Not only are lead­ers adopt­ing in­no­va­tive so­lu­tions, but even fun­da­men­tal se­cu­rity tech­nolo­gies and prac­tices have seen wider ac­cep­tance, and or­gan­i­sa­tions have evolved to mas­ter the ba­sics,” he added.

Losses as a re­sult of in­ci­dents of cy­ber se­cu­rity also surged by 135 per cent over the pre­vi­ous year, and the av­er­age cost per in­ci­dent in­creased by close to 8 per cent, the re­port said.

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