According to a survey conducted by Sophos – a global cybersecurity company – about 52 per cent of Indian businesses have been victims of successful attacks in the last 12 months. Out of all the active attacks, 71 per cent of the companies said it was a severe or very bad attack, and 65 per cent of them took more than a week to fix.
Covid-19 increased the rise in digitisation and was the explanation for enhancing cybersecurity initiatives, according to this survey of 900 business decision-makers from the Asia Pacific and Japan. However, loopholes still exist. Despite the fact that attacks are becoming more frequent and serious, cybersecurity budgets are relatively unchanged as a percentage of revenue between 2019 and 2021. At the same time, India has the largest number of businesses with their own cybersecurity budget. In addition, it is projected to increase from 9% to 10% over the next 24 months.
In a statement, Sophos’ Managing Director, Sales, Sunil Sharma said, “Cyber breaches are a reality that we cannot afford to ignore. Within an organisation, there will always be multiple threats that can exploit various vulnerabilities and launch full-blown cyberattacks.”
A total of 44 per cent of the Asia Pacific and Japan (APJ) organisations have suffered a data breach in 2020, showing a 12 per cent hike as compared to the 32 per cent in 2019. Out of all these successful breaches, 55 per cent reported the crimes being as “serious” or “very serious”.
As cyberattacks continue to rise, malware attacks, artificial intelligence/machine learning driven attacks and nation-state attacks will be serious threats to organisations all over the world, in the next 24 months, the report states.