The number of brute force or targeted attacks is on the rise in India, with every third reported cyber incident due to ransomware in 2023, cybersecurity firm Kaspersky said.
Indian companies need to align their cybersecurity budgets with their growth objectives to ensure sustainable expansion in the face of increasing digitalisation and associated risks, a senior Kaspersky official has said.
The emergence of new-age technologies including Artificial Intelligence and GenAI is critical for enterprises to boost their business.
“For businesses to grow, they need to be digitalised. If they don’t do that, they’re not going to achieve that business growth value,” Adrian Hia, CEO, APAC, Kaspersky, told PTI.
At the same time, the digitalization of companies increases the attack surface, opening avenues for risks such as sophisticated cyberattacks.
If Indian companies are aiming for 20 per cent growth, they also need to increase their cybersecurity budget by 20 per cent to prepare against such attacks, Hia said.
He also said that organizations need to maintain their systems and data as they move toward digital transformation.
In India, malware attacks rose 11 percent to 13,44,566 in 2024 from 12,13,528 a year ago, according to a SonicWall report earlier this month.
The number of brute force or targeted attacks is on the rise in India, with every third reported cyber incident due to ransomware in 2023, cybersecurity firm Kaspersky said.
According to Hia, the reason for these attacks is the amount of data exposed on the Internet, which has grown almost tenfold, whether through applications or data from web servers.
“The proliferation of smartphones, with everyone owning two, has led to data on 3 billion smartphones being hacked in India, so the attack surface has increased,” he added.
However, organizations are forced to adopt next-generation technologies to remain part of the race for modernization and business growth.
Hia sees artificial intelligence as a “double-edged sword.”
Business enablers have incorporated modern technologies, including AI, to make their businesses more profitable even in the face of the persistent threat of data exposure.
In view of the rapid adoption of technology and the potential risks, the Indian government is also making efforts in this direction.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: August 18, 2024 | 15:42 IS
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