The use of cyber security is on the rise in all sectors but preventing data loss caused by cyber attacks proves to be a difficult task for many companies.
About 70% of companies in India use as many as 10 simultaneous solutions to protect data and cyber security, while 30% operate more than 10, but 57% of them experience unexpected downtime due to data loss last year, it shows. a new survey by Acronis, a Singaporean cyber security company.
Downtime can lead to significant loss of income and reputation for organizations. It can also lead to severe penalties under data protection laws. According to Gartner’s calculations, the average cost of a one-minute downtime for the program is approximately $ 5,600. For larger organizations, the costs are much higher.
Security experts have repeatedly stressed that investing in multiple solutions does not improve security. It often increases the complexity and reduces the visibility of the IT team, which has led to higher risk.
Rustom Hiramaneck, general manager, at South Asia at Acronis points out that, “many solutions do not provide much security, as using different tools to deal with certain types of exposure is complex, inefficient and expensive.”
The report goes on to criticize the lack of transparency in cyber security operations, making things difficult for the IT team.
For example, it was found that 35% of IT users and 11% of IT professionals in India were unable to claim that their data was converted without their knowledge compared to 63% and 16% of their global counterparts, respectively. In many cases, the solutions they use make it difficult.
The study also found that 20% of IT professionals in India, compared to 13% worldwide, are unaware that their organization is subject to data privacy laws. Security experts believe that the lack of this understanding takes responsibility for the IT team in implementing data loss prevention strategies.
India is in the process of releasing its data protection laws in line with the European General Data Protection Regulation (GDPR). The Data Protection Bill, 2019, is currently being considered by a joint parliamentary committee and is expected to be tabled in the House sometime this year.
Last month, the Department of Home Affairs of the unions informed Parliament that cyber attacks on Indian companies have increased by almost 300% by 2020 to 1,158,208 from 3,94,499 attacks found in 2019, citing Computer Emergency Response Team (CERT) details. -In), India’s security defense agency.
In the study, Acronis interviewed 4,400 IT users in 22 countries, including India.