Lack of robust IT security system in organisation, reason behind rising cyberattacks: Report

Lack of robust IT security system in organizations is the key reason behind increasing cyber attacks as 65 percent of the participant organisations do not even have a department to manage network security, says a survey.

According to the survey conducted by risk and integrity management firm Netrika Consulting, only 18 percent organisations have dedicated IT staff where more than 25 persons are employed, while 21 percent companies do not have dedicated employees.

Moreover, 18 percent organisations have IT strength of just 1 to 3 employees, the survey said, adding that 65 per cent of the participant organisations do not even have a department to manage network security.

This is despite the fact that 62 percent participant organisations witnessed IT breach in the form of virus attack (7 percent), malware (10 percent), phishing (19 percent), ransom ware (26 percent), while 32 percent said they did not suffer any breach in the past 12 months.

According to US-based Software Company Symantec's Internet Security Threat Report, India is the second worst cybercrime affected the country in the world after the US.

Netrika Consulting's survey noted that Indian corporates are not very regular in assessing their cyber security which leads to regular loss due to cyberattacks.

Just 44 per cent participant companies confirmed that they conducted IT security audit in last 6 months in their organisations, while 56 per cent stated that during last six months no IT security audit was undertaken in their organisation.

"A risk based approach is to form your data security strategy by prioritising measures based on how much they will affect," Netrika Consulting MD Sanjay Kaushik said.

Kaushik further noted that "there are two types of companies – one who have experienced a cyber-breach/cyberattack and others who are going to experience a cyberattack in the future. It's not a question of if, but only a matter of when".

The survey, covered 1,800 respondents from a range of industries - from manufacturing, BFSI, pharmaceuticals, hospitality, NBFC and IT/ITES.