Trending

Stories

Study Shows Indian SMBs are More Worried About Cyber Threats Than Before

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

Three out of four (74 percent) small and medium-sized businesses (SMBs) in India suffered a cyber incident in the past year, resulting in 85 percent losing customer information to malicious actors, in addition to a tangible impact on business, a new study by Cisco revealed on Monday.

According to the study titled ‘Cybersecurity for SMBs: Asia Pacific Businesses Prepare for Digital Defense’, more than half (62 percent) of SMBs in India that suffered cyber incidents in the past 12 months said that cyber-attacks cost their business more than Rs 3.5 crore. Of these, 13 percent say that the cost was over Rs 7 crore.

Also Read

“As they digitise, SMBs are embracing the fact that any transformation, especially one that allows them to meet customers where they are and build trust, must begin with cybersecurity,” Panish P.K., Managing Director – Small Business, Cisco India and SAARC, said in a statement.

The study is based on an independent, double-blinded survey of over 3,700 business and IT leaders with cybersecurity responsibilities across 14 markets across the Asia Pacific region.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

The survey highlighted that SMBs saw several ways in which attackers tried to infiltrate their systems. In India, malware attacks, which affected 92 percent of SMBs, topped the charts, followed by phishing (76 percent). Thirty-eight percent of those that suffered incidents said that the number one cause did not have cybersecurity solutions.

Meanwhile, 36 percent ranked cybersecurity solutions as not being adequate to detect or prevent the attack as the number one reason.

Besides the loss of customer data, SMBs that suffered a cyber incident also lost internal emails (73 percent), employee data (71 percent), intellectual property (74 percent), and financial information (75 percent). In addition, 73 percent of those said it disrupted their operations, 76 percent admitted it negatively impacted their reputation, and more than half (70 percent) said it resulted in a loss of customer trust.

However, SMBs are rising to the challenge. The study highlights that they are taking strategic measures like carrying out simulation exercises to improve their cybersecurity posture.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
OnePlus First-ever Tablet Launching in India Today ChatGPT Reaches 100 Million Users in Two Months Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts Instagram Working On Twitter-like Paid Verification Feature OnePlus Ace 2 Specs Exposed Online Realme GT Neo 5 Full Specs Revealed  Samsung Galaxy S23 Ultra: The New Android King Twitter To End Free API February 9 MLS Season Pass Now Available On Apple TV App
OnePlus First-ever Tablet Launching in India Today ChatGPT Reaches 100 Million Users in Two Months Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts Instagram Working On Twitter-like Paid Verification Feature OnePlus Ace 2 Specs Exposed Online Realme GT Neo 5 Full Specs Revealed  Samsung Galaxy S23 Ultra: The New Android King