Not enough laws in India to address issues related to cybercrime prevention, detection and investigation, as per the KPMG in India’s Cybercrime Survey Report. While 69 per cent of organisations believed that ransomware is a significant risk to them, 43 per cent indicated that they have experienced ransomware attacks in last one year, as per the survey.

The survey also stated that 48 per cent of the organisations are of the opinion that cybersceurity risk assessment is one of the important pre-requisites that needs to be addressed before outsourcing to any third party. 40 per cent of the end users feel that due to cross country jurisdictions being involved there is a hindrance in lodging a complaint with the cyber cells and only 3 per cent of the organisations have reported cyber incidents to a local law enforcement agency.

Also read:Malware and ransomware: All it takes is a click..

Commenting on this finding Sudesh Anand Shetty, Partner – Risk Consulting, KPMG in India said, “Cyber breaches should no longer be looked upon as isolated incidents linked with IT or IT security. Organisations should consider it as an indicator to a potential cyber fraud and be vigilant online. Security awareness is key and we encourage organisations to report matters as observed to be potentially investigated.”

Security professionals, top law enforcement officers and end users from all over India were among the 300 participants that took part in the survey. The study also highlighted measures to deal with the rapidly growing issue that can be used to shape the cyber risk management stance of organisations. Some of the measures suggested were: cyber risk assessment and threat management, vulnerability management with advance measures such as red teaming, cyber in supply chain and cyber awareness beyond normal practices.

Read also:Fear not a ransomware attack, this software firm can unlock your data

Related Topics