According to a Symantec report titled ‘On the State of Enterprise Security,’ companies in India are more concerned about cyber attacks against their IT infrastructure than they are about threats from terrorism and natural disasters. In January, Indian companies lost an average of 5.8 million rupees, according to the report.
Symantec India managing director Vishal Dhupar said “Security has become a main concern to Indian enterprises as cyber attacks are posing a greater threat than terrorism, natural disasters and conventional crimes.”
Approximately 66 percent of the firms surveyed reported experiencing cyber attacks in the last year that stemmed from external or internal sources.
“Securing enterprises and protecting information are more challenging due to understaffing, new IT initiatives and compliance issues. A security blueprint that protects infrastructure as well as information, enforces IT policies and manages systems efficiently can increase the competitive edge of businesses in an information-driven world,” Dhupar said.
The report also found that managing risk from IT use is a top priority with many firms but over 80 percent of the firms would not see an increase in IT budgets.
“Each cyber attack mounted had a financial impact on enterprises, besides loss of customer trust and damage to reputation. About 90 percent enterprises face a cost to prevent such attacks and to comply with regulations, as financial loss in productivity was on average Rs.8.4 million in 2009,” said Dhupar.