Governments, businesses, and individuals alike find themselves navigating a complex landscape of digital threats and vulnerabilities. By Dilip Sawhney Modernising cyber security systems is a key requirement for organisations taking significant strides towards smart operations. Other than financial and reputational loss, cyber-attacks can have an ESG (environmental, social and governance) impact. According to a report by Ponemon Research Institute and IBM, Indian firms lost around Rs 176 million to data breaches in FY2021-22, a 25% and 6.6% increase from FY20 and FY21, respectively. A Kaspersky survey finds that oil and gas, energy, chemicals, and consumer goods manufacturing industries are especially likely to be affected by the rise in incidents. As companies increasingly aim to boost smart manufacturing, a meticulous cybersecurity policy and its robust implementation should take a front seat, especially in critical infrastructure and manufacturing industries where the threat is considerably high. Recent research from Check Point says that the nature of cyber-attacks is changing and their frequency increasing – the average number of attacks per organisation in India reached 2,152 in the first half of 2023, indicating a 20% Y-o-Y growth. Threats range from data theft and data leaks on the dark web to hacking into the […]
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