69% of Indian companies face the Risk of serious Cyber Attacks: study
About 83% of the Asia-Pacific region does not think about cyber security while researching digital conversion projects.
Kuala Lumpur, May 13 (IANS) While 69% Indian and 63% Australian companies are most at risk of a cyber attack, 35% of organizations in the region suffered at least one cybersecurity incident in the last 12 months, says a sector study.
According to a recent study by leading IT analyst firm Frost &Sullivan, findings of which were released on May 9 hereby Forcepoint, a leader in global cybersecurity, around 83% of organizations in the Asia Pacific region do not think about cyber security while embarking on digital transformation projects.
Although most organizations (72%) manage regular violations to protect themselves against , 55% of them are at risk.
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“This study clearly shows that many AAPA companies have been behind the enterprise cybersecurity in borderless companies,” Kenny Yeo, French Epic ICT, Principal, Principal of Frost & Industry Dr. Sullivan.
95% of respondents started the digital transformation, receiving cloud computing, dynamics, internet things, and emerging technologies with artificial intelligence/machine learning, the research revealed a major setback in the APAC for digitization.
However, 65% of respondents acknowledged that they were seriously hampered in the execution of digital transformation projects due to rising cyber-attacks.
One of the main reasons for designing digital transformation projects is that there are fewer mature methods related to cyber protection by business leaders. It is proven that nearly 83% of the companies did not consider cyber protection until they started their digital transformation project.
Cloud has become one of the key components that are leading digital transformation with 69 % of firms adopting cloud. But 54 % of respondents perceive that their cloud service provider will take full responsibility for security.
Normally, security and compliance are a shared responsibility between an organization and the cloud service provider. This serious misconception around the responsibility of security in the cloud is resulting in a higher number of cyber-attacks, says the study.
Finding suggests that most companies have taken measures to protect themselves against cyber events, 72% of them are performing breach rates at least once per quarter.
Despite the readiness, 55 % of organizations were at risk — either they have encountered a security incident before or they did not do any checks to assess if they have been breached. The Frost & Sullivan study reveals the impact digital transformation is having on each organization’s risk posture. As more digital technology is built into a business like a cloud and mobility, it is opening each firm up to more threats.
Data Exposure, Incognito – Theft of both digital identity and online brand camouflage – as well as the loss of intellectual property and malware infections, emerge as the top protection blind protection for digital converting agencies. The study said, there are high levels of impact of their business and long recovery times.
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Over 400 organizations across the Asia Pacific participated in this study, with 100 respondents each from Australia, Hong Kong, India, and Singapore They provide financial services, telecommunications, production, power & amp; Utilities, retail, education, and health care.
While 53 % of respondents were from large enterprises, the rest were from mid-sized enterprises and small and medium businesses. Around 75% of respondents were C-level executives and senior IT and security decision-makers.