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Report Confirms Lack of Adequate Cyber Security in Most Firms of India

Although, many organisations think about importance of emerging technologies in optimising cyber security, investments in them are not increasing, it added

Cyber security operations at most companies in India are inadequate and do not meet the security needs, a report by Ernst & Young said, here on Thursday.

The ‘EY Global Information Security Survey 2018-19 – India Edition’ suggested that companies should invest in analytical capabilities as they would enhance threat detection and improve awareness in company board rooms.

“Most organisations have cyber security functions that do not fully meet their needs; more than half of the organisations are investing in analytical capabilities as a first step,” it said.

Investments are required in identity and access management and reporting function. For many organisations, forensics are a potential green field, it said.

Cyber attack has effected millions of people globally. Wikimedia Commons
Cyber attack has effected millions of people globally. Wikimedia Commons

The EY report noted that it might be difficult to quickly build up forensic capabilities in-house and companies should get in third-party vendors with the required capabilities.

The report also said strategic oversight regarding cyber security issues needs improvement. “The executive management in five of the 10 organisations has limited or no understanding of cyber security,” it said.

Also Read- Amazon Launches ‘Amazon Pay UPI’ For Android Users in India

The threats related to the use of smartphones, the Internet of Things (IoT) and operational technology are not yet understood well and only a small number of organisations identify them as high risk areas, the survey said.

Although many organisations think about importance of emerging technologies in optimising cyber security, investments in them are not increasing, it added. (IANS)

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