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Most Indian businesses make cybersecurity decisions without attacker’s insights: Study
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A majority of businesses in India make cybersecurity decisions without insights into the threat actor targeting their infrastructures, according to a study published on Tuesday. The claims come from Google-owned threat analytics company Mandiant, which said that 75% respondents make most of their cybersecurity decisions without attacker’s insights, which proves to be dangerous for their organisations.
The latest Mandiant report compiled after a global survey of 1,350 cybersecurity decision makers across 13 countries, including 100 decision makers from India, and across 18 sectors, also said that while 66% of cybersecurity decision makers it surveyed, believe senior leadership teams continue to underestimate cyber-threats and 68% agree their organisation needs to improve its understanding of the threat landscape.
The report also said that more than half (57%) of security decision-makers are not very confident that their organisation is fully prepared to defend itself against a significant cybersecurity event caused due to hacktivist actors. And just over half (54%) of the respondents expressed confidence to defend themselves against financially motivated attacks, such as ransomware.
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When respondents were asked to rank which countries their organisation would be unable to fully defend itself against, more than half of respondents globally (57%) said Russia, followed by China (53%), North Korea (52%) and Iran (44%), the study said. Given the geopolitical sentiments in India, the Mandiant report said, 68% organisations in India believe that they would not be able to fully defend against attack from China, followed by Russia (61%).
Furthermore, cyber security, globally, is only discussed on average once every four or five weeks with various departments within organisations, including the board, members of the C-suite and other senior stakeholders. Besides, globally, only 38% of security teams share threat intelligence with a wider group of employees for risk awareness, said the study.
Notably, 50% of respondents in India - as against 33% globally - reported that their organisation had suffered a ‘significant’ cyber-attack in the past 12 months, which has caused demonstrable harm.
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Another report by Indusface, a Tata Capital-funded software-as-a-service security (SaaS) firm, published on December 27, 2022, echoed similar trend. It showed that cybersecurity teams’ inability to plug vulnerabilities is accelerating cyber-attacks across Indian organisations across size and sector and that the country is one of the top targets for cybercriminals.
The report revenue-wise, mid-market companies with revenues between $10 million to $1 billion have been subjected to 45% of the cyber-attacks and only 21% were large enterprises with over $1 billion in revenue, which implies that companies need to be proactively defend their organisation again rising cyber threats.
On a separate report by BlackBerry published on February 2, 2023, security researchers have shown that several security leaders are also worried about ChatGPT, the popular AI-powered chatbot developed by the Artificial Intelligence (AI) research company OpenAI, expecting the AI model to complete a successful cyber-attack within a year.
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