Mumbai: While corporate India has increased its spend on cyber security each year, organisations are still not confident of their ability to sense, resist and respond to cyber threats.
According to a latest survey by Ernst & Young, 75 per cent of the Indian respondents said that their cyber security function does not fully meet the organisations needs.
“Outdated information security architecture and controls have been cited as the topmost vulnerability. Careless or unaware employees is their second-most important concern, while vulnerabilities related to mobile computing, social media and cloud computing also feature prominently as contributing to enhanced risk exposure for corporate India.”
Among threats, the majority (54 per cent) believes that cyber-attacks are primarily targeted at defacing or disrupting organisations while 51 per cent believe such attacks are aimed at stealing intellectual property or data.
“Disruptive innovations and the digital transformation of businesses and governments are exponentially enhancing cyber-risks. What is worrisome is that the response gap - which is the difference between the abilities of the attackers and the capabilities of organisations is increasing as well, leading to this lack of confidence in the cyber security function,” said Nitin Bhatt, risk advisory leader at EY India.
