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

Why do I lend my support to voices protesting world class renovation of Gandhi Ashram?

By Martin Macwan* One would not expect an activist working on Dalit rights to join such a protest. Dalits carry unhealed trauma that Gandhi caused to Dr BR Ambedkar and the Dalit cause of effective political representation by using violent means of his own definition in the event of the Poona Pact. This apart, Gandhi’s ideas in general, which changed often, on caste were orthodox. I have nothing to add to the subject after the sharpest critique offered by Dr Ambedkar.

Iswarchandra Vidyasagar was a 'frustrated' reformer who turned into a conservative

By Bhaskar Sur "If someone says the Manusamhita was written by all wise Manu and the principal scripture of the land and if he asks me to throw it away, I'll say it is nothing short of atrocious audacity." -- Iswarchandra Vidyasagar

Swami Vivekananda's views on caste and sexuality were 'painfully' regressive

By Bhaskar Sur* Swami Vivekananda now belongs more to the modern Hindu mythology than reality. It makes a daunting job to discover the real human being who knew unemployment, humiliation of losing a teaching job for 'incompetence', longed in vain for the bliss of a happy conjugal life only to suffer the consequent frustration.

Odisha bauxite mining project to 'devastate' life of 2,500 Adivasi, Dalit farmers: NAPM

Counterview Desk  While the public hearing on mining in Mali hills has been cancelled due to protests by Adivasi and Dalit farmers of the Mali Parbat Surakhya Samiti, Odisha, who have been protesting against the proposed bauxite mining project, India’s top civil rights network, National Alliance of People’s Movements (NAPM) has said it is “deeply concerned” at the decision of the Government of Odisha to push the project in a Schedule-V Adivasi-belt Koraput district against the interests of the people and environment.

Buddhist shrines were 'massively destroyed' by Brahmanical rulers: Historian DN Jha

Nalanda mahavihara By Our Representative Prominent historian DN Jha, an expert in India's ancient and medieval past, in his new book , "Against the Grain: Notes on Identity, Intolerance and History", in a sharp critique of "Hindutva ideologues", who look at the ancient period of Indian history as "a golden age marked by social harmony, devoid of any religious violence", has said, "Demolition and desecration of rival religious establishments, and the appropriation of their idols, was not uncommon in India before the advent of Islam".

2002 riots: Gujarat assembly 'misinformed' about dereliction of duty, says ex-DGP

By Rajiv Shah  Former Gujarat topcop RB Sreekumar, an IPS officer of the 1971 batch, has alleged that the Gujarat government gave “totally false information” on the floor of the State Assembly regarding the appeal he made to the Gujarat governor for the “initiation of departmental action against those responsible for culpable negligence in maintenance of public order and investigation of genocidal crimes” during the 2002 riots.

'Devastating impact': Rural workers suffer as Govt of India NREGA budget down by 34%

Counterview Desk  A civil rights group, the NREGA Sangharsh Morcha has sent a letter to the Prime Minister and the Minister of Rural Development and Panchayati Raj stating that 34 per cent decrease in the fiscal budget of the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA) for year 2021-22 has added to woes on India’s rural population, already suffering from “devastating impact” of the Covid-19 pandemic.

Economy in tatters, labour codes 'take away' workers' safety, benefits, right to form TU

By Our Representative  The four new labour codes promulgated by the Government of India came in for sharp criticism from several labour unions and civil rights groups at one-day discussion meeting organised in Ranchi (Jharkhand) on the issue of ‘changes in labour laws. Participants in the meeting asserted that under these new codes, many of the benefits and safeties accorded to labourers have been "taken away", while the right of labourers to create trade unions has been attacked.

Celebrating birthday amidst image of 'coerced, submissive' India ruled by a strong leader

Pushkar Raj*  As the weeks long birthday festivity of the leadership was being rejoiced India wide, the Covid was still raging in several parts of India. The carnival was in line with the post-Covid decisions and actions of the leadership demonstrating a pursuit of personal power and glory instead of national interest in times of disease and death.

Politically-motivated: Global NGO network on ED 'harassment' of Harsh Mander

Counterview Desk  CIVICUS , a top global alliance of civil society organisations seeking to strengthen citizen action and civil society around the world with a claimed membership of more than 10,000, objecting to the alleged harassment of IAS bureaucrat-turned-human rights activist Harsh Mander by the Government in India, has said that the the the Enforcement Directorate (ED) raid on his house and office highlights “an ongoing pattern of baseless and politically-motivated criminal charges brought by the authorities against activists across India”.