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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

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A man holds a laptop computer as cyber code is projected on him in this illustration picture. VOA

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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I Fall in Love with India Every Time I Return Here: Amazon CEO Jeff Bezos

On Friday, Goyal clarified that government welcomes all kinds of investments into the country which are within the ambit of the law

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amazon, jeff bezos
Amazon.in arrived in India on June 5, 2013 and for world's top billionaire Jeff Bezos, has transformed the way the country buys and sells. VOA

Amazon Founder and CEO Jeff Bezos on Friday posted a note on the company’s e-commerce website Amazon India, saying “he falls in love with India every time he returns here”, a day after Commerce and Industry Minister Piyush Goyal snubbed him during a public event.

“I fall in love with India every time I return here. The boundless energy, innovation and grit of the Indian people always inspire me,” Bezos wrote in the letter while mentioning Amazon’s investment in the Indian economy and that the firm is aiming to create 10 lakh new jobs by 2025.

Bezos, in the letter, added that more than 550,000 small and medium businesses (SMBs) in India are using Amazon as a platform to offer millions of products.

The new expected jobs are on top of the 700,000 jobs Amazon has already created in the country since 2013.

Amazon, drones
In this Sept. 13, 2018, file photo Jeff Bezos, Amazon founder and CEO, speaks at The Economic Club of Washington’s Milestone Celebration in Washington. VOA

On Thursday, Goyal not only ticked off Bezos saying that they are not doing India a favour by investing a billion dollars, but also raised concerns if its losses were a result of predatory pricing and if Amazon and Flipkart were gaining entry into multi-brand retail by using loopholes.

Also Read: Tech Giant Apple Solves Location Privacy Issue with iPhone 11 in 2nd iOS 13.3.1 Beta

On Friday, Goyal clarified that government welcomes all kinds of investments into the country which are within the ambit of the law.

“We welcome all kinds of investments that follow the letter and spirit of the law. If some investment is outside the legal purview, appropriate action will be taken,” he told reporters. (IANS)