79% Companies See Cybersecurity As Top 5 Biz Risks; Budgets Low

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Over three-fourths of organizations polled recognize cybersecurity as one of the top five business risks, but despite that most have cybersecurity budgets of less than 10 per cent of total planned expenses, a KPMG survey stated today. 

    "79 per cent organizations identified cybersecurity as one of the top five business risks," said KPMG in India's Cybercrime Survey Report 2017. According to the report, close to 81 per cent of the organizations have cybersecurity budgets of less than 10 per cent of total planned budgets even though they recognized it as a key business risk. Of the organizations surveyed, 69 per cent were of the view that ransomware is a "significant risk" to them and 43 per cent respondents indicated that they have experienced ransomware attacks in the past year. Ten Most Valuable Brands In The World In 2017

    79% Companies See Cybersecurity As Top 5 Biz Risks; Budgets Low
     

    "The survey report reveals several concerns pertaining to the changing regulatory landscape as almost two-thirds of the law agencies feel that there are not adequate laws to address matters related to cybercrime prevention, detection, and investigation," it noted. Nearly 40 per cent of end users felt that involvement of cross-country jurisdictions acts as a hindrance in lodging a complaint with the cyber cells.

    "Not surprising then that a mere 3 per cent of the organizations have reported cyber incidents to a local law enforcement agency," it said. KPMG said more than 300 participants, including chief information officers, chief operating officers, security professionals, top law enforcement officers as well as end users from all over India, were part of the survey. Apple, Google, Tesla: World's Most Innovative Companies

    Goodreturns.in 

    Read more about: cyber companies
    Story first published: Friday, December 15, 2017, 17:08 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more