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

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. 

'Anti-poor stand': Even British wouldn't reduce Railways' sleeper and general coaches

By Anandi Pandey, Sandeep Pandey*  Probably even the British, who introduced railways in India, would not have done what the Bhartiya Janata Party government is doing. The number of Sleeper and General class coaches in various trains are surreptitiously and ominously disappearing accompanied by a simultaneous increase in Air Conditioned coaches. In the characteristic style of BJP government there was no discussion or debate on this move by the Indian Railways either in the Parliament or outside of it. 

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.

Why convert growing badminton popularity into an 'inclusive sports opportunity'

By Sudhansu R Das  Over the years badminton has become the second most popular game in the world after soccer.  Today, nearly 220 million people across the world play badminton.  The game has become very popular in urban India after India won medals in various international badminton tournaments.  One will come across a badminton court in every one kilometer radius of Hyderabad.  

Faith leaders agree: All religious places should display ‘anti-child marriage’ messages

By Jitendra Parmar*  As many as 17 faith leaders, together for an interfaith dialogue on child marriage in New Delhi, unanimously have agreed that no faith allows or endorses child marriage. The faith leaders advocated that all religious places should display information on child marriage.

How embracing diversity enriched my life, brought profound sense of joy

By Mike Ghouse*  If you can shed the bias towards others, you'll love the connections with every human that God or his systems have created. This gives a sense of freedom and brings meaning and joy to life. Embracing and respecting how people dress, eat, and practice their beliefs becomes an enriching experience.

Ayurveda, Sidda, and knowledge: Three-day workshop begins in Pala town

By Rosamma Thomas*  Pala town in Kottayam district of Kerala is about 25 km from the district headquarters. St Thomas College in Pala is currently hosting a three-day workshop on knowledge systems, and gathered together are philosophers, sociologists, medical practitioners in homeopathy and Ayurveda, one of them from Nepal, and a few guests from Europe. The discussions on the first day focused on knowledge systems, power structures, and epistemic diversity. French researcher Jacquiline Descarpentries, who represents a unique cooperative of researchers, some of whom have no formal institutional affiliation, laid the ground, addressing the audience over the Internet.

Banned Maoist party protests in Jharkhand, Chhattisgarh, claims support across globe

By Harsh Thakor*  Despite being a banned and designated as terrorist organisation under the Unlawful Activities (Prevention) Act since 2009, the Communist Party of India (Maoist) is said to have successfully implemented a one-day bandh across Kolhan division in Jharkhand on July 10th, with repurcussions in the neighbouring Chhattisgarh. The bandh was called to protest against alleged police brutality in the Kolhan-Saranda region.

'28% rise in sedition cases': Top global NGO alliance rates India's civil space 'repressed'

By Rajiv Shah Rating India's civic space as repressed , Civicus, a global civil society alliance, in its new report submitted to the UN Human Rights Committee (UNHRC) on the state of civic space in the country has said that the use of sedition law against the Modi government’s critics continues. "Under the government of Prime Minister Narendra Modi, sedition cases have increased by 28 per cent with over 500 cases against more than 7,000 people", it says.