India Inc desperately needs to upgrade its cyber security- know why?

India Inc

There has been a massive push from the government to digitize the payment, use Aadhar number with more transaction, job ids, banks, phone numbers, stock trading accounts. The government of India is making UID a universal Id for all the transaction a person does and this means a lot of sensitive, personal information will be digitized and stored for usage. With more connected world with smartphones and smart devices the security needs a massive upgrade in India.

Given the direction we are heading we have less scope to compromise or lay loose on the information/cyber security front. This is the 4th army with the Land, Air and Sea, India Inc needs to build and be ready.

Cyber cells in metro get atleast 3-4 cases of cyber-crime every week. Major telecom company was recently hit by a data breach. A couple of months back, Aadhar data leak reports surfaced, JNPT terminal was down, hit by a global ransomware. Major banks have been in compromised situation and corporates have paid ransom to the tune of $5mn at different occasions to the criminals.

A recent report published in a ET suggests-

India Inc1

It is merely a matter of time when another major attack targeting India will go live, and it will be disastrous given India Inc’s negligence towards security. Most companies do not even consider buying an enterprise cyber security plan.

What needs to be done-

Companies need to take strong measure in the area of cyber-security which can no longer be taken lightly. Especially SMBs which constitute more than 90% of businesses are more vulnerable given the lack of exposure and costs associated. More awareness needs to be created like RBI has mandated security measure to be implemented by banks similarly government can at least spread awareness amongst the masses that website data and other information can be vulnerable.

Awareness about android trojan apps, and other app based viruses needs to be dispensed and as a habit security needs to be implemented in every step.

Cybersecurity measures which are affordable for SMBs should be implemented and Logix infosecurity helps its clients understand the security product good for their business. Affordable products can help take the business long way by keeping them safe from online threats.

Always remember- “Prevention is the only cure”.

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