73% of Indian firms expect customer data breaches in the next 1 year: Report

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Nearly 73 percent of organizations in India expect to experience a data breach that impacts customer data in the next 12 months, a new report showed on Tuesday.

The Indian organizations ranked the top three negative consequences of an attack as lost IP, critical infrastructure damage/disruption, and cost of outside consultants and experts, according to global cybersecurity leader Trend Micro.

“Once agai,n we’ve found plenty to keep CISOs awake at night, from operational and infrastructure risks to data protection, threat activity and human-shaped challenges,” said Vijendra Katiyar, Country Manager, India & SAARC, Trend Micro.

Nearly 57 percent of Indian organizations among those surveyed said it was somewhat too very likely that they’d suffer serious cyber-attacks in the next 12 months.

While 34 percent suffered more than 7 cyber attacks that infiltrated networks/systems, 20 percent had more than 7 breaches of information assets.

Thirty percent of respondents said they’d suffered more than 7 breaches of customer data over the past year.

In India, the top cyber threats highlighted in the report were ransomware, watering hole attacks, botnets, malicious insiders, and advanced persistent threats (APT).

The top security risks to infrastructure include malicious insiders, cloud computing infrastructure and providers, organizational misalignment and complexity, as well as negligent insiders, the report noted.

“To lower cyber risk, organisations must be better prepared by going back to basics, identifying the critical data most at risk, focusing on the threats that matter most to their business, and delivering multi-layered protection from comprehensive, connected platforms,” Katiyar said.

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