52% of Indian firms report cyber attack in last 12 months, says Report

Mumbai: A survey report released on Tuesday revealed that about 52 per cent of Indian organisations fell victim to a successful cybersecurity attack in the last 12 months.

Of these successful breaches, 71 per cent of organisations admitted it was a serious or very serious attack, and 65 per cent said it took longer than a week to remediate, showed the survey by global cybersecurity firm Sophos.

The study of 900 business decision makers across Asia Pacific and Japan indicates Covid-19 accelerated period of digitisation and was a catalyst for improving cybersecurity, but systemic security issues persist.

While attacks are increasing in frequency and severity, cybersecurity budgets remained largely unchanged as a percentage of revenue between 2019 and 2021.

At the same time, India reported the highest percentage of companies that have an independent security budget.

Furthermore, they expect a rise in the median percentage of technology budgets spent on cybersecurity from 9 per cent today to 10 per cent in the next 24 months.

Overall, 44 per cent of Asia Pacific and Japan (APJ) organisations surveyed suffered a data breach in 2020, up from 32 per cent in 2019.

Of these successful breaches, 55 per cent of companies rated the loss of data as either "very serious" or "serious".

As cyberattacks continue to rise, the report found that malware, Artificial Intelligence/Machine Learning-driven attacks and nation state attacks will be the most serious threats to enterprise cybersecurity over the next 24 months.