Skip to main content

Frequency of cyber attacks up by 23 per cent in India in a year: KPMG report

By Our Representative
A recent report, prepared by top international consultants, KPMG, has said that an alarming 72 per cent of company leaders in India, up from 49 per cent a year ago, have said that they have faced “some sort of a cyber attack over the past year, indicating an increase in the volume of attacks.”
The sharp 23 per cent rise in the number of respondents pointing towards cybercrime on companies, however, is not the only cause of concern. The report, titled “Cybercrime Survey Report 2015”, says that “Cyber incidents have not only risen sharply in 2015, the trend is more towards cybercrime with financial motives.”
Thus, while this year 63 per cent respondents said that cybercrime has led to financial crime, about the same numbers, 65 per cent, say it has been carried out to target financial gains. A similar report a year ago said that 45 per cent respondents -- about 20 per cent less -- thought cybercrime was carried out to target financial loss.
The report adds, 46 per cent respondents believe that corporate espionage has been the motive for cybercrime, and 45 per cent “mentioned theft of sensitive information” as the cause.
The report comments, if cybercrime was only perceived as a “malaise, impacting large companies and multinational corporates who have their presence in the western hemisphere”, now “Indian companies are increasingly being targeted”.
“This spurt”, says the report, “has been on account of the following factors: increase in the number of people accessing the internet; increase in number of smartphone users; and Dawn of path-breaking transacting platforms such as m-commerce, mobile banking and mobile wallets.”
Dishing our more data, the report states, “65 per cent respondents indicated that email servers are likely targets for cybercrime, while 46 per cent identified end user systems as targets”.
It adds, “The year 2015 has witnessed an increase in spear phishing attacks targeted at email systems to defraud companies by redirecting foreign remittances/ payments to money mule accounts of hackers.”
Pointing towards poor state of cyber security of Indian companies, the report says, “74 per cent respondents stated that a detailed annual IT and cyber risk assessment is not carried out”, adding, “Cyber risk assessment is not a focussed area for most of the enterpises across functions and people” because the “the focus is only on technology.”
It goes on to state, “78 per cent respondents stated that they do not have a cybercrime incident response plan, while 62 per cent do not have a governance process to log and monitor IT events on their critical systems.” It adds, “72 per cent respondents indicate that the number of cyber response organisations are inadequately equipped, given the level of cybercrimes.”
It also states, “68 per cent respondents stated that they do not have Security event management and incident management (SIEM) system to support cybercrime incident detection, analysis, and 61 per cent do not have data leakage with reference to prevention tools installed on servers and end user systems.”
The survey, which is based on an interview of 2,500 company leaders, claims to provide “the industry with a reference point that sheds light on key aspects of cybercrime in terms of industry perception, affected areas of the organisation, and impact and responsive measures that companies have taken.”
The survey was conducted by using web-based forms and personal interviews, with participants attached with important sectors such as oil and gas, infrastructure and government, IT and ITeS, manufacturing, pharmaceuticals and chemicals, and retail, and telecom.
“There is a significant spurt in cybercrimes across enterprises and it is of paramount importance for management to realise that these are no longer a one-time phenomenon”, the report says.
It adds, “The nature of cybercrime is constantly evolving, specifically with attackers having a solid arsenal of the ever evolving stealth attack”, with 94 per cent believing “cybercrime is one of the major threats being faced by organizations”.

Comments

Unknown said…
Data security breaches happen daily in too many places at once to keep count. Any business irrespective of their size should build a strong data room software security to ensure strong data protection.

TRENDING

'Flawed' argument: Gandhi had minimal role, naval mutinies alone led to Independence

Counterview Desk Reacting to a Counterview  story , "Rewiring history? Bose, not Gandhi, was real Father of Nation: British PM Attlee 'cited'" (January 26, 2016), an avid reader has forwarded  reaction  in the form of a  link , which carries the article "Did Atlee say Gandhi had minimal role in Independence? #FactCheck", published in the site satyagrahis.in. The satyagraha.in article seeks to debunk the view, reported in the Counterview story, taken by retired army officer GD Bakshi in his book, “Bose: An Indian Samurai”, which claims that Gandhiji had a minimal role to play in India's freedom struggle, and that it was Netaji who played the crucial role. We reproduce the satyagraha.in article here. Text: Nowadays it is said by many MK Gandhi critics that Clement Atlee made a statement in which he said Gandhi has ‘minimal’ role in India's independence and gave credit to naval mutinies and with this statement, they concluded the whole freedom struggle.

BSF should take full responsibility for death of 4 kids in West Bengal: Rights defender

By Kirity Roy*  One is deeply disturbed and appalled by the callous trench-digging by BSF in Chetnagachh village under Daspara Gram Panchayat, Chopra, North Dinajpur District, West Bengal that has claimed the lives of four children. Along the entire stretch of Indo-Bangladesh border of West Bengal instead of guarding the actual border delineated by the international border pillars, BSF builds fences and digs trenches well inside the Indian territory, passing through villages and encroaching on private lands, often without due clearance or consent. 

A Hindu alternative to Valentine's Day? 'Shiv-Parvati was first love marriage in Universe'

By Rajiv Shah*   The other day, I was searching on Google a quote on Maha Shivratri which I wanted to send to someone, a confirmed Shiv Bhakt, quite close to me -- with an underlying message to act positively instead of being negative. On top of the search, I chanced upon an article in, imagine!, a Nashik Corporation site which offered me something very unusual. 

How GMOs would destroy non-GMO crops: Aruna Rodrigues' key submissions in SC

Counterview Desk The introduction of Bt and HT crops will harm the health of 1 billion Indians and their animals, believes Aruna Rodrigues, who has made some 60 submissions to the Supreme Court (SC) during the last 20 years. As lead petitioner who filed Public Interest Litigation in 2005, during a spate of intense hearings, which ended on 18 January 2024, she fought in the Apex Court to prevent the commercialization of genetically modified organisms (GMOs) in Indian agriculture. 

Social justice day amidst 'official neglect' of salt pan workers in Little Rann of Kutch

By Prerana Pamkar*  In India’s struggle for Independence, the Salt Satyagraha stands as a landmark movement and a powerful symbol of nonviolent resistance. Led by Mahatma Gandhi, countless determined citizens walked from Sabarmati Ashram to Dandi in Gujarat. However, the Gujarat which witnessed the power of the common Indian during the freedom struggle is now in the throes of another significant movement: this time it is seeking to free salt pan workers from untenable working conditions in the Little Rann of Kutch (LRK).

Corporatizing Indian agriculture 'to enhance' farmer efficiency, market competitiveness

By Shashank Shukla*  Today, amidst the ongoing farmers' protest, one of the key demands raised is for India to withdraw from the World Trade Organization (WTO). Let us delve into the feasibility of such a move and explore its historical context within India's globalization trajectory.

Jallianwala massacre: Why Indian govt hasn't ever officially sought apology from UK

By Manjari Chatterjee Miller*  The king of the Netherlands, Willem-Alexander, apologized in July 2023 for his ancestors’ role in the colonial slave trade. He is not alone in expressing remorse for past wrongs. In 2021, France returned 26 works of art seized by French colonial soldiers in Africa – the largest restitution France has ever made to a former colony. In the same year, Germany officially apologized for its 1904-08 genocide of the Herero and Nama people of Namibia and agreed to fund reconstruction and development projects in Namibia. .

A 'distorted narrative' of Indian politics: Congress failing to look beyond LS polls

By Prem Singh*  About 15 days ago, I told a senior journalist friend that there are not even two   months left for the Lok Sabha elections, Rahul Gandhi is roaming around on a delectation (tafreeh). The friend probably found my comment exasperating and replied that he is not on a delectation trip. The conversation between us on this topic ended there. 

Livelihood issues return to national agenda ahead of LS polls: SKM on Bharat Bandh

Counterview Desk  Top farmers' network, the Samyukta Kisan Morcha (SKM) has claimed big success of Grameen Bharat Bandh and industrial /sectoral strikes, stating, the “struggle reflected anger of farmers, workers and rural people across India”, adding, the move on February 16 succeeded in bringing back peoples’ livelihood issues in the national agenda just ahead of the general election to the Lok Sabha.

Interpreting UAPA bail provisions: Is Supreme Court setting the clock back?

By Kavita Srivastava*, Dr V Suresh** The Supreme Court in its ruling on 7th February, 2024 in   `Gurvinder Singh v State of Punjab’ held that its own well-developed jurisprudence that "Bail is the rule and jail the exception" will not apply to those charged under the UAPA.