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Experts: Countries Need to Come up with Innovative Approaches to Deal with Cybersecurity Challenges

In India, the average cost of data breach grew 7.29 per cent year-over-year to reach Rs 12.8 crore from Rs 11.9 crore last year, said a new study by IBM

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cybersecurity
In India, the average cost of data breach grew 7.29 per cent year-over-year to reach Rs 12.8 crore from Rs 11.9 crore last year, said a new study by IBM. Pixabay

As cyber crimes grow exponentially globally including in India, there is an urgent need for all the stakeholders to address the cutting-edge complex issues concerning cyberspace, experts said here on Thursday.

According to them, countries need to specifically come up with innovative approaches to deal with cyber security challenges at a global, regional and national level.

“There are new challenges faced by different nations when it comes to cyberspace. The emerging technologies like Artificial Intelligence (AI), Internet of Things (IoT) and automation need to be seen in that context,” said Pavan Duggal, one of the top cyber lawyers in the world.

The roundtable on “Cyberlaw, Cybercrime & Cybersecurity” was attended by representatives from various Embassies and High Commissions of various countries and also various representatives from different ministries of Government of India.

cybersecurity
There is an urgent need for all the stakeholders to address the cutting-edge complex issues concerning cyberspace. Pixabay

In India, the average cost of data breach grew 7.29 per cent year-over-year to reach Rs 12.8 crore from Rs 11.9 crore last year, said a new study by IBM. The root cause for 51 per cent of data breaches was malicious or criminal attacks, system glitches contributed to 27 per cent of breaches and human error led to 22 per cent of breaches in India, the findings showed.

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Duggal said the recommendations from the roundtable would feed into the deliberations during the “International Conference on Cyberlaw, Cybercrime & Cybersecurity 2019”, to be held in New Delhi from November 20-22 in New Delhi.

“A series of roundtables are being organized since 2015 to enable discussions among specific stakeholders from specific sectors on various issues, aspects and perspectives that need to be incorporated and elaborated in the annual international conference,” informed Duggal. (IANS)

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66% Indian Business Decision Makers Concerned About Cyber Threats

In line with this approach, 79 per cent of Indian business decision makers would want to adopt deeply-integrated or synchronised security solutions that could detect, investigate and respond to cyber threats

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Cyber Threats
Cyber security is a shared responsibility. While IT teams must be proactive in their response to Cyber Threats, knowledgeable employees and leadership teams pave the way for organisations to better detect, protect and respond. Pixabay

Sixty-six per cent of business decision makers in India believe lack of security expertise is a challenge for their organisations, while 63 per cent of Indian businesses are concerned about being exposed to Cyber Threats due to employee errors, according to a new report.

“As the threat landscape evolves, businesses too need to advance their defence mechanisms with synchronised security solutions that are designed to strengthen their cyber security posture,” Sunil Sharma, Managing Director, Sales, Sophos India and SAARC, said in a statement.

The success of an organisation’s cyber security investment lies not just in buying technology, but corporate culture, employee education and path-to-purchase also play critical roles, according to the Future of Cybersecurity in Asia Pacific and Japan-Culture, Efficiency, Awareness report.

“Cyber security is a shared responsibility. While IT teams must be proactive in their response to Cyber Threats, knowledgeable employees and leadership teams pave the way for organisations to better detect, protect and respond,” Sharma said.

Cyber Threats
Sixty-six per cent of business decision makers in India believe lack of security expertise is a challenge for their organisations, while 63 per cent of Indian businesses are concerned about being exposed to Cyber Threats due to employee errors. Pixabay

Only 19 per cent of Indian organisations regularly make significant changes to their cyber security approach, and 38 per cent intend to make changes to security approach in the next 6-24 months.

In line with this approach, 79 per cent of Indian business decision makers would want to adopt deeply-integrated or synchronised security solutions that could detect, investigate and respond to cyber threats, it added.

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According to global cyber security major Sophos, main triggers for security updates — beyond changes to overall security posture — are technology and product developments, compliance and regulation requirements, and growing awareness of new attacks. (IANS)